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.
Transitioning to retirement isn’t a simple process. Let’s talk about a few of the things that you can do to make this time of your life easier.
Boomers are bombarded daily with advertising messages that attempt to influence us. Recognizing some of their tactics can make us less susceptible.
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.
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.
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.
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.
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.
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.
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.