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Retirement Planning

Retirement planning isn’t just about saving money. It’s also about making sure that you have the skills, passive income and passions to get the most from life after retirement.

8 Ways That the New US Tax Law Might Affect Your Retirement
3 weeks ago

8 Ways That the New US Tax Law Might Affect Your Retirement

By  •  Lifestyle

The Tax Cuts and Jobs Act was approved and is now the new law of the land.

While the majority of the media has covered the proposals for the changes as being a boon for the wealthy, they have missed discussing how the new tax laws affect most retirees. Read More

Transitioning into Retirement? Do These 5 Things First!
1 month ago

Transitioning into Retirement? Do These 5 Things First!

By  •  Lifestyle

Have Open and Honest Conversations with Spouse/Partner About Your Retirement Journey

Having an honest conversation with your spouse or partner about how you envision your retirement – including each of your greatest concerns, fears, desires and wants – is an essential step during this stage.

Consider having each partner separately write down what their thoughts are about retirement, and make a list of what is really important. Afterwards, compare the two and see where there are common interests, concerns and feelings and where there are differences.

This presents a great opportunity for a constructive conversation that will help you enter the journey of retirement. If you are diabolically opposed, then maybe you will need a mediator!

Form a Team of Professionals That Will Provide You Guidance

Once you realize that all the years you spent saving for retirement now come down to making decisions that may affect the rest of your life, you may also realize you cannot go it alone – even if you’ve gone it alone up to this point. The reason is that everything you know or think you know is about to change!

When couples are transitioning into retirement – and as someone who’s evaluated people’s financial lives for his entire career – I can confidently say that in most instances, one spouse has a better grasp of the couple’s finances than the other.

Quite often, the knowledge gap is huge. In other words, one spouse knows everything about the couple’s financials while the other person is essentially financially illiterate.

If the spouse with the high level of financial knowledge outlives his or her partner, this will most likely result in a financially smooth transition from partnership to singlehood.

If, however, the spouse with less or no financial knowledge outlives his or her partner, this could result in stress and loss of money as a result of poor decision making. So, if you’re the one who has been mostly on the sidelines managing your family financial affairs, it’s time to get up and get into the game. Read More

Trying to Save Money for Retirement? Understand the Tricks Advertisers Use
3 months ago

Trying to Save Money for Retirement? Understand the Tricks Advertisers Use

Boomers are bombarded daily with advertising messages that attempt to influence us. Recognizing some of their tactics can make us less susceptible. Read More

5 Ways to Take Charge of Your Financial Future After 60
5 months ago

5 Ways to Take Charge of Your Financial Future After 60

Women are more likely than men to underrate themselves when it comes to investing. Yet women are usually in charge of household budgets, are more willing to save for the long-term and are better bargain hunters. Read More

5 Ways to be Sure You’re Saving Enough for Retirement as a Woman
5 months ago

5 Ways to be Sure You’re Saving Enough for Retirement as a Woman

By  •  Lifestyle

Although both men and women have access to the same retirement savings accounts, recent research has found that women are far less financially prepared to retire in comparison to their male counterparts. This isn’t only due to obvious reasons, such as the gender pay gap. Everyday reasons matter as well when it comes to saving enough for retirement. Read More

What is a Retirement Coach and Why Might You Need One?
6 months ago

What is a Retirement Coach and Why Might You Need One?

In our parents’ days, people simply left the job they had held most of their lives and moved onto permanent vacation when they retired. But then, most of them never lived the additional 25 to 30 years anticipated for many of us boomers. Read More

Feeling Adventurous and Frugal? Consider Retiring Abroad
7 months ago

Feeling Adventurous and Frugal? Consider Retiring Abroad

By  •  Lifestyle

Many people say, “I’ll travel when I’m retired, then I’ll have the time and money to truly seek adventure.” The harsh reality though, is that a little over 3 million Americans are concerned that they will not have enough saved income to afford to retire in the United States, much less travel. Read More

What Bali Taught Me About the Importance of Advanced Directives
7 months ago

What Bali Taught Me About the Importance of Advanced Directives

By  •  Lifestyle

When I arrived at the gym, the electricity had been off for three hours. The treadmills were idle, and only people-powered-machines were raising heart rates. Read More

Retiring in Bali: You’re Not a Tourist Any More, So Put Down Roots in Your New Tropical Home
7 months ago

Retiring in Bali: You’re Not a Tourist Any More, So Put Down Roots in Your New Tropical Home

By  •  Lifestyle

So, you’ve said your farewells, rented out your apartment, packed your bags and landed in your new home. A new life is about to open before you. Read More

6 Tips to Finding a Dream Retirement Destination with Your Spouse
8 months ago

6 Tips to Finding a Dream Retirement Destination with Your Spouse

Over the next decade 75 million Americans will retire. For couples, it may be surprising to learn that this transition may prove more difficult than for a single man or woman. Read More

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