Do you have grandchildren in their late teens or 20s? Their generation, known as millennials, grew up with access to the internet, cellphones and other technology that previous generations could never have imagined.
Millennials sometimes get a bad rap as being entitled and self-focused. However, their relationship with technology has given them a unique worldview. They recognize how to use technology to their advantage, and they may see opportunities that older generations don’t recognize.
Are you making your final financial preparations for retirement? Are you comparing various tools to help you build a stable foundation? From IRAs to insurance to investment vehicles, you have a broad range of tools and products at your disposal.
An annuity is one such tool. Annuities are often used to generate income, minimize taxes, manage risk and more. There are several types of annuities, and each is used to achieve specific objectives.
Since its inception in 1974, the IRA has become a popular retirement savings tool. According to a study from the Employee Benefit Research Institute, there are more than 25 million IRAs open in the United States, and those accounts hold nearly $2.5 trillion in total assets.1
The IRA is a popular savings vehicle for a number of reasons. They often allow for a broad range of options, and you can use them to rollover your 401(k) assets when you leave a job.
Is retirement quickly approaching? It’s a big milestone for many Americans. It’s your time to finally take control of your schedule and spend your time the way you wish.
While retirement should be a happy time, it can also be a challenging transition for some. Some retirees find that they miss having the challenge that comes with a busy career. Others may feel that they lack purpose or direction. And some simply have trouble adjusting to a wide open schedule every day.
Often in retirement planning, much of the focus is on asset accumulation. No doubt it’s important to save and grow your money so you’ll have a sizable nest egg when you retire. However, it’s also important to minimize expenses in retirement. The higher your spending is, the harder it may be to make your savings last throughout your retirement years.
Do you dream of early retirement? Or do you wish you had the ability to enjoy the greater freedom that comes with retirement in your younger years? When you achieve financial independence, that dream can become a reality.
Financial independence is different than traditional retirement. The typical idea of retirement follows a process of working until you reach retirement age and then exiting the working world.
Are you considering using a Roth IRA to save for retirement? Or are you thinking about converting a traditional IRA into a Roth? If so, you’re not alone. The Roth IRA is one of the most popular retirement savings vehicles, primarily because of its tax advantages and flexibility.
With a Roth IRA, you don’t get an upfront deduction for contributions as you do with a traditional IRA. However, you do get tax-deferred growth while the funds remain in the account and tax-free distributions assuming you are either disabled or 59 ½ or older.
Are you planning to move to a new locale after you retire? Perhaps you want to move south near the beach or the desert so you can enjoy warmer temperatures. Maybe you’d like to experience a different lifestyle in a bustling city or in a quiet countryside. Or you might even want to immerse yourself in another culture overseas.
Whatever your goal, retirement is the time to pursue the life you’ve imagined for yourself. You’ll have no work commitments, no scheduling obligations, and, hopefully, plenty of money to fund your desired lifestyle.