Below you'll find a list of all posts that have been categorized as “Retirement Planning”
As a working mom, whole weeks may go by without the chance to sit down or even think. You’re managing a career, making decisions for your family, and caring for kids and often parents, too. It’s not easy, then, to hear about one more job that needs your immediate attention: retirement planning. But let’s just be blunt, women are almost …
A look at three other long-term care (LTC) coverage options. Traditional long-term care insurance has grown costlier—and some of those who buy it may never need the coverage. Are potentially cheaper, flexible options available? Yes. 1 Hybrid life insurance policies with LTC riders. These life insurance policies have LTC coverage options available for a fee that you can use if …
It may be a wise financial choice. It may be a good idea for a woman to retire later rather than sooner. Leaving the workplace after 65 may help position a woman for slightly greater retirement income and reduce some of the pressure of funding her “second act.” Women tend to receive smaller Social Security payments than men. This doesn’t …
After you marry, to what degree should your financial lives be shared? Many couples who marry also wed their finances together. Whether they partly or fully merge their finances, many couples may see more advantages than disadvantages to taking this step. Some young married couples decide to create joint accounts early. Without a joint checking or savings account, the matter …
A self-created last will and testament may lead to problems. As an early step in estate planning, you may be tempted to write your own will. There are some good reasons why you shouldn’t. While do-it-yourself wills may be cost-effective and make the process of will creation relatively simple, they also have shortcomings. DIY wills tend toward the basic and …
Investors may want to avoid these common errors when saving for retirement. In the sports world, a mental error can cost your team the big game. When you are investing, a mental error can put your retirement portfolio at risk. Mistakes often result from letting misconceptions and emotions affect your decisions. Successful investing generally requires logic and reasoning. To avoid …
What options do you have if you risk a default? Have you made a federal student loan payment in the last three months? About 11% of federal student loan borrowers have not and are therefore in default. That default rate only represents the borrowers entering repayment.1 More than 8.1 million Americans are behind on federal student loan payments. If you …
One rule that can help you budget your income. Try the 50/20/30 technique for managing your household money. Applied over time, it may improve your financial picture. Here’s how you can do it: Assign 50% of your income to essential expenses. Think food, rent, transportation costs, and utilities. Try to avoid using up more than half your monthly income for …
Could you possibly arrange multiple income sources? On average, women receive 23% less Social Security income than men. In 2014 (the most recent year of data available), the average yearly Social Security benefit for a woman 65 or older was $13,150, compared to $17,106 for her male counterpart.1 This is one example of the income gap plaguing too many women …
What should you do with the money? A look at some choices. Each year, about 70% of taxpayers receive federal tax refunds. The average IRS refund is substantial—$2,800. What could you do with a refund sent to you? You could invest that money. It could go into your workplace retirement plan, an Individual Retirement Account, or a college savings plan—preferably, …
Some key financial steps that you could take. Your twenties are the perfect time to save and invest. Do it now, and you will have a great ally—time—on your side. Think about doing the following things if you’re not doing them already. Put money into a retirement plan. Save and invest through a 401(k), a 403(b), a Roth or traditional …
