Most individuals identify as either savers or spenders. Most savers emphasize the future by stashing as much cash as possible to ensure their retirement and financial stability. Spenders prioritize their current desires and requirements, expecting that they will be able to meet their future demands with an increase in income or innovative solutions.
Investors that once made astronomical gains are now facing a reckoning as the historic bull market ended with rising inflation, skyrocketing interest rates, and recession worries.
The next two weeks will be tense for backers of legislative measures to enhance the U.S. retirement system. Next week, lawmakers will return to Washington to conclude the so-called lame-duck session – the legislative time between the midterm elections and the start of the new Congress on January 3.
The impact of taxes on retirement planning is often overlooked. Without adequate planning, taxes can consume a substantial portion of your savings. Here are 6 non-taxable funds.
Nearly a million people travel from colder parts of the United States and Canada to Florida, Arizona, and other Sunbelt states for warm weather each year. For these snowbirds, seasonal migration provides the best of both worlds: a chance to preserve links to family, friends, and familiar locations, while also enjoying a change of scenery and a respite from the frigid winter weather.
Are you single? If so, you may have retirement-related fears that those with partners are less likely to encounter.
Don’t click away if you’re married (or in a committed relationship).
As with any significant life shift, adjusting to a new day-to-day reality will include a series of distinct phases. Here are five stages you might anticipate encountering, along with advice for how you should prepare.
Robots might help elderly individuals live independently if there aren’t enough humans. Elliq, a foot-tall robot that looks like an oval lampshade, welcomes Monica Perez in the morning, asks how she’s feeling and reminds her about pills and appointments. Perez, 64, of Beacon, N.Y., has nice friends, but they’re busy and have children. She appreciates that Elliq constantly uses her name.
When people consider retirement planning, they often prioritize saving and investing so they can retire with a comfortable nest egg. And that is an excellent starting point. However, it is equally essential to consider how taxes will impact your retirement funds and any other sources of income you may rely on after you reach retirement age.
There are ways to secure retirement income that allows you to maintain your living standard, live a lifetime, adapt to life events, and leave a legacy for your children even in difficult times.