In the world of retirement savings, younger investors have largely recovered from the market turmoil of 2022. Older investors have not. By the midpoint of 2023, the average millennial saver had made up all of their losses from the previous year, according to data from Fidelity Investments. The average 401(k) balance for millennials stood at … Read more
It depends on a lot of factors when it’s too late to start saving for retirement. There are a lot of factors that affect how to start saving for retirement when you are 50 or older. These include your level of debt, your lifestyle, your job, and your personal goals. It’s important to know all … Read more
When retirement is nearing, you need to get your finances in order. If you weren’t already, now is the time to get laser focused on saving for your golden years. Experts say that by age 60, you should have saved eight times your annual salary. This will help you be ready for retirement. This number … Read more
Are you staring at a mountain of debt while also having money sitting in your 401(k)? It’s tempting to think about tapping into those retirement funds to get out from under the crushing weight of debt. I mean, who hasn’t daydreamed about being debt-free overnight? But before you make that call to your retirement plan … Read more
Its easy to feel like everyone has their financial act together—everyone, that is, except you. But the truth is, many people are anxious about their financial standing and wonder how theyre doing, especially when it comes to retirement savings. To get a sense for how youre doing compared to other people, you may want to … Read more
Although many consider it an honour to be asked to act as an executor, the responsibilities involved can be complex and time consuming. Understanding them will assist you in choosing the person best suited to be your own executor, and ensure any decision you may make to act as an executor is an informed one. … Read more
Are you considering an annuity for your retirement planning? While these insurance products are often marketed as the perfect solution for guaranteed income in retirement, there’s a lot more to the story. As someone who’s spent years helping folks navigate retirement options, I’ve seen too many people jump into annuities without understanding the significant drawbacks … Read more
If your wages have risen this year, thats good news. But along with the additional cash, its possible you may be in for an unpleasant tax surprise too. Although wage increases may have helped your income keep pace with rising costs for everything from food to housing and auto repairs, a bigger paycheck may also … Read more
Dreaming about ditching the 9-5 grind decades before your peers? You’re not alone! Early retirement at 45 is becoming the holy grail for many Brits who fancy swapping spreadsheets for spreadsheets. of their travel itineraries! But let’s get real – retiring 20+ years before the State Pension kicks in requires some serious financial planning and … Read more
Saving for retirement at a typical retirement age, like 67, can be difficult. It can be even harder to save for an early retirement because you have less time to work and invest and more years of retirement to pay for. But life is all about choices. Once you’ve made the choice to prioritize early … Read more