In the face of inflation, looming recession, and uncertainty surrounding the future of Social Security, many Americans are considering claiming their Social Security benefits earlier than their full retirement age. This decision, while allowing them to continue working, is influenced by various factors. Let’s investigate the reasons behind this trend and weigh the advantages and … Read more
The 4% retirement spending rule has long been a staple in the financial planning world. Conceived by Bill Bengen nearly three decades ago, this rule has been the guiding principle for many retirees. However, as the financial landscape evolves and individual needs become more complex, there’s a growing sentiment that this rule might be too … Read more
Retirement is often seen as a golden phase, a time to relax and enjoy the fruits of years of hard work. However, there’s an unexpected twist that many don’t anticipate: a potential dip in your credit score. Even if you’re not planning to borrow money, your credit score can influence various facets of your life, … Read more
Deciding whether to buy a new car in retirement is a multifaceted dilemma that many retirees struggle with. For some, the car symbolizes independence and the ability to travel, visit family, and engage in leisure activities. For others, it’s a matter of safety, as modern vehicles have advanced features that can significantly reduce the risk … Read more
The population of retirees is expanding at a notably faster rate than the influx of new workers, ushering in an unprecedented phenomenon of an aging America that will reshape our economic and labor landscape. In the last five decades, the baby-boomer generation, born between 1946 and 1964, has significantly impacted the American workforce. As they … Read more
Social Security benefits are a significant pillar of retirement planning for many Americans. With the median retirement account balance standing at a mere $35,345 in 2021, it’s evident that many retirees lean heavily on Social Security. However, there are subtle ways you might be missing out on maximizing these benefits. Let’s delve into two key … Read more
Retiring with the assurance that all your expenses are covered is a dream for many hardworking Americans. However, even with careful saving and budgeting, unforeseen costs can creep into your retirement plans. Some of these expenses might even enhance your quality of life. While everyone’s retirement goals are unique, certain costs are often forgotten when … Read more
Tax planning is crucial to financial management, especially for retirees who want to make the most of their golden years. As we reach the mid-year mark, it’s time to assess your tax strategy and implement any necessary adjustments. Here, we provide valuable mid-year tax planning strategies for retirees to help reduce your tax burden in … Read more
According to a recent Age Wave and Edward Jones survey, most retirees experience unexpected events after retiring. The survey reveals that 69% of men and 81% of women encounter such events. Retirees consider preparation, adaptability, and flexibility as essential qualities for a successful and sustained retirement. In fact, 93% of them believe that these traits … Read more
Retirement: the word carries a mix of excitement, anticipation, and perhaps a touch of uncertainty. It’s a major life milestone that many of us eagerly await, but it also brings forth questions and doubts. Are you truly ready to retire? Or will you regret your decision once you take that leap of faith? Before you … Read more