Property taxes are constantly rising and that can be hard for some people to pay for. Especially the elderly. They are still getting the same amount of retirement, but the taxes are rising. There are some things that they can do to help ease the rise of cost. Start out by seeing if you can get into some sort of payment plan. Do not ignore the bill as it won't go away and it will pile up making … [Read more...]
Pre-tax vs. Roth 401(k): There’s more to consider than you think
Pretax and Roth are different forms of investment, but you need to know somethings about both before you decide on what path you are going to take. Roths will offer an after tax that will be levy free. Pre tax deposits will offer right offs and tax deferred growth. So choose wisely. If you think you will have a higher income and be taxed more, a Roth 401k plan is most likely the best bet to go. … [Read more...]
Why This Tiny Country Is Always the Winner of “Best Place to Retire” Rankings
Panama has been one of the highest rated places to retire to. With the rankings, many things are taken into consideration. Some of the being, cost, healthcare, housing, benefits, and weather. Having a great healthcare system has put it up to number one. There were many other countries there are very close or have been number one in the past. Costa Rica was very close to taking the spot that Panama … [Read more...]
Here is the age when many Americans hope to retire
When it comes to retirement age for Americans, there are many factors that play a role including what generation they are. The average age for all of Americans to stop working is age 62. The longer you work in America, the bigger your social security check will be. The youngest Generation of Americans which is Generation Y are hoping to retire by age 59 whereas the Baby Boomer generation is … [Read more...]
Keeping your retirement savings in a regular bank account? Fix that now.
A recent study found that 74% of part-time workers are using a regular bank account for their retirement savings. The problem with this is, first, they are not receiving the tax advantages that come with other accounts, such as a 401(k), IRA or HSA. A second issue is that bank accounts offer low returns in comparison to an S&P 500 index fund or even a high-yield savings account. A final … [Read more...]
Claiming Social Security at 65? You May Need to Rethink That
When it comes to social security, many people think that it's best to claim at 65 which is the earliest possible age to claim at. However, depending on your goals and your lifestyle, that may not be the best for you. The longer you delay your claim, the larger your monthly check will be. If you are entirely comfortable with your life, claim at 65 and use that supplemental income for whatever you … [Read more...]
Meet the typical baby boomer: They’ve been blamed for ruining the economy for millennials
Baby Boomers have been blamed for ruining the economy as they are blamed for not thinking about future generations. Baby Boomers grew up in a time that featured many life defining events such as the Vietnam War and the Civil Rights movement. They grew up in a time where interest rates were low and housing prices were inflated. This allowed them to increase the value of their assets and create … [Read more...]
6 Spectacular Retirement Lifestyles Perfect For Travelers
If you are a traveler and are ready to life a retirement lifestyle, there are many different things that you can do. Some people will buy an RV and will do that full time going to different destinations and experiencing the culture and activities that each new place brings. Many others will go on a long term cruise. Finally, some people will even move to a new country in order to experience a … [Read more...]
Retiring Early? Here’s a Smart Investing Strategy to Consider
Retirement requires careful financial planning well in advance, but the real challenge is posed to those who would like to have retirement happen early in their life. Financial moves become very important if that is your goal. Fortunately, there are certain strategies that, if implemented correctly, can make this a reality. Consider investment in stocks and funds that pay dividends and ensure you … [Read more...]
Saving for a successful retirement
The hard fact of life is that many people are not financially prepared for retirement. They have an intention to save and invest, but something always comes up that postpones their plans. The foundation of successful and timely retirement is in the planning and executing of the plan. You will also need to practice a lot of self-discipline and your saving should start early in your career. The good … [Read more...]