retirement
Many American savers are caught between paying off their mortgage before retirement or taking that money and putting it towards growing their retirement savings. Sure, having more money during your golden years could help provide you with more financial security when you’re not working anymore, but carrying long-term debt can be a cost burden and quickly drain a person’s savings. Unfortunately, there isn’t some magical formula for deciding which option would suit you best. Each person’s financial situation is different, and it is important to remember that not everyone shares the same financia...
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When you think of retirement, what comes to mind? Are you looking forward to a time of freedom, relaxation, and pursuing your passions? Regardless of what springs to mind, some planning must be done before you chillax on the beach. At the very least, this can be about your future income streams, healthcare, and how you’re going to spend your newfound free time. Lucky for you, there’s a wealth of knowledge at your fingertips in the form of books. For retirement planning, here are 15 must-read books: 1. Retirement Planning for Beginners: A Comprehensive Guide to Building Savings, Maximizing Inco...
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As you approach and ultimately enter retirement, you’ll need to reduce the risk of your investment portfolio gradually. But what exactly does that mean? And what steps should you take to make your portfolio less risky? The Basics of Investment RiskIn the investing world, risk is simply a measurement of the chances that the outcome of a given investment will differ from the expected outcome. For example, when most people buy stock shares, they anticipate their prices going up over time. If the price remains the same or drops, it will result in losses and/or missed opportunities. Risk is importa...
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Retirement often brings to mind adventures to faraway destinations, yet these aspirations can remain elusive for numerous retirees. However, the right credit card can help make such grand travel scenarios more realistic. If you work hard to earn and redeem credit card rewards strategically, you can make these voyages possible without sacrificing the savings you spent years building. Here are some proven strategies that’ll help you get the most out of your points and miles in order to make travel a part of your retirement future. 1. Choose the Best Travel Credit Card for Your NeedsStart by pick...
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Small companies often have a family-like feel. Employers want to ensure their workers have a plan in place for retirement and long-term financial planning. Small businesses can offer a 401(k) plan or match contributions to spur savings. Tax laws and regulations can make offering a 401(k) complex. Some businesses turn to alternatives such as payroll deduction for IRA, where employees can allocate a certain amount of their check directly into their savings. Another option is a defined benefit plan, where the employer promises a promised pension amount each month upon retirement. Those who are se...
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Earnings-related pensions overwhelmingly constitute the primary source of income for Europeans aged 65 and older. However, less than half of EU consumers are confident that they will have enough money to live comfortably throughout their retirement. In several countries, this confidence level falls to 30% or even less. This raises concerns about pension adequacy. Protecting older people against poverty is a key function of pension systems. Old-age pension is periodic payments intended to: 1. Maintain the income of the beneficiary after retirement from paid employment at the legal or standard a...
Euronews (English)
ValueWalk
For many of us, the thought of retiring can be stressful and even daunting. The first step towards retirement is understanding how much money you need. Despite the fact that everyone has a different vision of retirement and a different number of financial freedom, there is a bare minimum amount of money required to retire in every state. Below are some statistics compiled from a variety of sources, including GoBankingRates, WalletHub, and Bankrate to name a few, that might surprise you. Fortunately, most states do not require more than $1 million in savings to retire for those who aren’t high-...
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Grace and Jerry Grady have been living out of suitcases for the past couple of weeks. But it is a minor inconvenience as they prepare to fulfil the dream of a lifetime. The multicultural couple, who are in their 70s, are soon going to be two of the roughly 800 passengers on a three-and-a-half-year cruise around the world. The epic voyage begins on 30 May and will visit 425 ports in 147 countries across all seven continents. The itinerary is timed to catch the spring and summer seasons wherever it travels. Once it launches, the Villa Vie Odyssey will be one of just two residential cruise ships ...
Euronews (English)
In the world of personal finance, the term 401(k) retirement plan often pops up. Despite its common usage, many individuals remain in the dark about what it is, how it functions, and why it’s so crucial. This article aims to shed light on the 401(k) plan, offering a comprehensive understanding of this essential financial instrument. Understanding the 401(k) planA 401(k) plan is a retirement savings account that permits employees to contribute a portion of their pre-tax salary. The name ‘401(k)’ originates from the section of the U.S. Internal Revenue Code that outlines this type of retirement ...
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