Tag Archives: Retiring
Retiring? Better Have $240K for Health Care
By Evann Gastaldo, Newser Staff
Retiring this year? You and your significant other will need $ 240,000 for health care expenses, according to Fidelity Investments’ latest annual projection.
That’s up 4% from last year’s $ 230,000 estimate, which is a typical — and actually fairly modest — increase,
BusinessWeek reports. Since 2002′s $ 160,000 estimate, the annual figure has increased an average of 6% per year.
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8 Questions to Ask Yourself Before Retiring
NEW YORK (MainStreet) — Pulling the trigger on retirement can be a costly mistake if your finances aren’t in good shape.
“It’s a very uncertain time for people,” says Doug Kinsey, a certified financial planner with Artifex Financial Group. Luckily, there are steps you can take to make yourself feel more secure as you approach retirement age. How can you tell if you’re ready to retire the way you imagined? Here’s a checklist of questions every pre-retiree should examine.
Pulling the trigger on retirement can be a costly mistake if your finances aren’t in good shape.
What kind of lifestyle do I want in retirement?
Several studies have tried to pinpoint how much money people should specifically have on hand before they retire. The truth is, though, that this amount is going to vary dramatically depending on what type of lifestyle you’re looking to lead once you’ve left the workforce.
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Retiring at 65 with $1.5 million: Making it last
I’m in my mid 60s and I’m rolling $ 1.5 million into an IRA. I’d like to create a portfolio of 60% stocks and 40% bonds using low-fee ETFs and mutual funds. Is this a good plan — and which funds and ETFs would you suggest? — Ollie F.
Retirement advice and news – CNNMoney.com
You’re Ignoring Taxes and Retiring With less
ATLANTA (TheStreet) — An overlooked, often misunderstood impact on retirement savings can be summed up in one frightful word: taxes.
For years, the focus for retirement plans has been placed squarely on the “accumulation” phase and maximizing investment returns. The onslaught of 80 million retiring baby boomers has made the drawdown of those savings a more mainstream concern.
Selling retirement assets without a tax strategy could be eroding 20% of retiree savings.
Big questions abound for retirees and near-retirees regarding their savings. Will they last? How much can retirees take, when and how? What’s the best way to turn assets into income?
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Retiring in 10 years: Should I invest in annuities?
Now that I’m about 10 years away from retirement, I’d love to understand annuities better and learn which, if any, would be best for me? — Alan Mina, Powell, Ohio
Personal finance advice, ideas – Money Magazine
