Your State Pension age is the earliest age you can start receiving your State Pension. It may be different to the age you can get a workplace or personal pension. The State Pension age is regularly reviewed, so the results of this tool may change in the future. You can read about the launch of … Read more
Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS. FERS is a retirement plan that gives you money from three different sources: Social Security, the Thrift Savings Plan (TSP), and the … Read more
Have you been daydreaming about saying goodbye to your morning commute and hello to leisurely breakfasts on your patio? If you’re approaching your mid-60s, retirement might be on your mind more than ever. But is 66 actually a good age to retire? Let’s dive into everything you should consider before making this life-changing decision. Why … Read more
Have you ever looked at the amount of money in your retirement account and thought, “Is this enough?” Or maybe you have put off planning for retirement because it seems too much to handle. It’s like trying to guess the weather 20 years from now when you’re trying to figure out how much money you … Read more
Self-employment offers amazing freedom, but let’s be honest—retirement planning gets a bit tricky when you’re your own boss. Without that corporate 401(k) plan and employer match, you might be wondering what retirement savings options you have available. Well, I’ve got great news! As a self-employed person, you absolutely can open a Roth IRA, and it … Read more
The ideal monthly retirement income for a couple differs for everyone. It depends on your personal preferences, past accomplishments, and retirement plans. Some valuable perspective can be found in the 2022 US Census Bureau’s median income for couples 65 and over: $76,490 annually or about $6,374 monthly. Would this much money help you and your … Read more
Ever stared at your bank account wondering if you’ve saved enough? You’re definitely not alone. Whether you’re just starting your savings journey or looking to beef up your financial cushion, figuring out the “right” amount to have in savings can feel overwhelming. Let me break it down for you in a way that actually makes … Read more
I hear the term “generational wealth” from time to time, and I have even written about just how difficult it is to maintain wealth in a family long-term. Yet I hear this frequently listed as a goal (not a SMART goal, but a goal nonetheless). The gist of it comes from ideas like this quote … Read more
Is a trust part of your estate plan? A trust is a versatile legal entity and serves several purposes. They legally protect and manage property or assets for your benefit and that of your loved ones. They can also ensure your assets are distributed according to your wishes. Trusts can impact inheritance taxes, but it … Read more
Aim for about one to two months’ worth of living expenses in checking, plus a 10% buffer, and another three to six months’ worth of savings. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to … Read more