Entering retirement does not mean that you have to give up on creating sources of income. In fact, there are plenty of ways to stay active and open alternative streams of income after your finish working. For one, you can rent out your home if your travel using sites like Airbnb or Zillow. You can also cash in on any lucrative skills or hobbies that you enjoy. Other options to achieve alternate … [Read more...]
A retired couple who travels full-time has 3 go-to strategies to make their savings last for years
A retired couple is doing things a bit different from how you expect two retirees to take their bucket list trips. They are doing it in such a way that will allow them to stretch their retirement dollars further. They are vacationing in cheap destinations all over the world. Some countries are cheap to live in and they stay long term in those places. They also travel to middle of nowhere places … [Read more...]
20 Great Retirement Travel Ideas: Make Travel After Retirement a Reality
Once you are set to retire, you probably have some traveling that you want to get done. There are a few places you have already been surely, and a few other places you want to go. Try to explore different places on your travel bucket list, and instead of traveling to the same tried and true destinations, try to travel somewhere different, and focus on taking longer trips instead of a lot of … [Read more...]
Top 8 Retirement Income Strategies
One popular strategy for retirement is the three bucket strategy. You have one bucket for emergencies with another bucket for short term finances. The last bucket is reserved for funds you won't access for more than a decade. Another strategy is the 4% systematic withdrawals method where you withdraw around 4% of your nest egg the first year of retirement. You then increase it slightly the … [Read more...]
Will Your Retirement Income Be Enough?
Planning for retirement needs to happen sooner rather than later. You need to ask yourself how much money do I need in retirement, the answer is usually about 85% of current expenses, though some retirees say that expenses go up when they retire at first, lull in the middle and due to healthcare are more inexpensive towards the end of life. You can figure a withdrawal rate of 4% to last you 30 … [Read more...]