We’ve all heard that exercise is good for us, but what about as we get older? Over the course of a career spent working countless hours and long nights, we may have gotten somewhat out of shape. We might think it’s too late to get back into shape by the time we’re retired, or pointless to carve out time for physical activity, but this isn’t true. Incorporating more physical activity into your day could be a [...]
Most people don’t expect their taxes to disappear in retirement, but they may assume they’ll decrease substantially. However, this may not be the case. Between collecting Social Security, interest, dividends, and Required Minimum Distributions, your retirement income could be substantial. All of these types of income can be subject to tax, and there are strategies to help minimize those taxes. Before you retire, it can help to find out if your tax burden will decrease in [...]
Even though finances are important, life isn’t just about money. Rather than have your finances dictate your retirement lifestyle, your retirement lifestyle can help dictate how you plan for your finances. After all, two people with similar amounts of money could have completely different concepts of what constitutes their desired retirement lifestyle. No matter if your priority is traveling, working part-time for fun, or just enjoying your free time, it’s important to have a comprehensive financial [...]
If you’re planning on taking a vacation, it’s probably something that you’ve looked forward to for a while now. And, that’s what retirement is about… It’s your 30 or more year vacation. Whether you’re traveling, volunteering, taking up new hobbies, or relaxing with friends and family, retirement is a time to unwind and do something you enjoy. One thing that’s great about life in retirement is the freedom you have to choose how you want to [...]
You’ve worked the majority of your life, and deserve to have many blissful years ahead. With a proper plan and execution strategy in place, you should be on-track to accomplish all of your retirement goals and dreams. If it’s been a little while since your last retirement review, then CLICK to request your complimentary, no obligation meeting. Here are 3, quick and easy lifestyle tips to consider for your life in retirement. The first, is to not [...]
Everyone talks a lot about how to prepare for retirement financially, but there is less focus on how to adjust your mindset in retirement and manage expectations. You might not be happy every single day in retirement, but that doesn’t mean your retirement won’t be happy. Transitioning into retirement is no small task, and research shows that the way people feel about their retirements follows a u-shaped curve; first people are quite positive, then not as [...]
You’ve worked for your money, and retirement is the time to have your money work for you. But what does this mean? Basically, your goal in retirement should be to turn what you’ve saved into retirement income. Many Americans are worried about running out of money, since pensions are rare and there are reasons why you can’t rely solely on Social Security in retirement. But if you’ve saved a substantial nest egg of 1 million dollars, [...]
Many Baby Boomers are watching their parents age to the point where they should move out of their home – and refuse. Maybe it’s that they are stubborn when it comes to their independence, or maybe they refuse to be a burden on their children. While these sentiments are admirable, older children can be faced with daily anxiety about their elderly parents’ wellbeing alone in their homes. At the same time, they can probably sympathize with [...]
There’s no doubt that our culture is obsessed with youth and often overlooks the benefits of aging. You may not have looked forward to getting older when you were younger, but now that you’re nearing retirement you may have gained a different perspective. The fact is, older Americans tend to be happier, according to a Gallup-Healthways poll that measured various aspects of well-being like sense of purpose, social relationships, financial well-being, community involvement, and physical health. [...]
Estate planning is complicated: The fair decision may not actually be the most practical one. What does this mean? It means that even if you divide up your estate equally between your beneficiaries, they could get hit with unequal tax burdens. So, good estate planning requires more than just good intentions. If you plan on leaving a legacy, you should take each of your beneficiary’s finances into account when dividing up your assets. Estate planning is [...]