Retirement Savings Analysis: African-American Women

Americans are wedding less frequently, and the ones that are getting married are not staying married for as long as their previous generation.  This can affect the way retirement is saved and collected, putting many African-American women at risk of running out of retirement money.   Social Security Spousal benefits for Social Security is often … Continue reading Retirement Savings Analysis: African-American Women

Frugality and Retirement

With a very difficult decade behind most consumers, the concept of being frugal doesn’t have the same stigma it did 20 years ago.  During the 1980’s, there began a shift from waiting and saving before making a large purchase such as a car or home, to maxing out credit cards and borrowing 100% of a … Continue reading Frugality and Retirement

Retirement Savings: Side Businesses for Growing Wealth

In our quest for financial stability and success, many American workers are simply not satisfied with the regular paycheck and benefits that come from traditional jobs. These regular paychecks certainly do help pay the bills, but in today’s economy, it can be tough to get ahead, even on the salary a well-paying job provides. Many … Continue reading Retirement Savings: Side Businesses for Growing Wealth

The Reasonableness of a $1 Million Retirement Goal

It may seem as having $1 million at retirement would be more than enough to live comfortably.  Based on the yearly median household income of $56,320, in order to equal that amount during retirement, retirees need an average monthly income from Social Security of $1360 combined with the $40,000 income generated by the $1 million … Continue reading The Reasonableness of a $1 Million Retirement Goal

Saving Enough Money for Retirement

Setting aside money now for retirement later is often difficult for many Americans.  This shows in a number of workers today and the amount of money they currently have saved for retirement.  In a recent survey conducted by GOBankingRates, it was discovered that more than half of Americans will retire with no money saved for … Continue reading Saving Enough Money for Retirement

Investing for Retirement: Biological Age Versus Chronological Age

The traditional method for retirement investing is based on a person’s chronological age. However, with changes in how aging is perceived, consider using biological age to determine the amount of money needed for retirement. Biological Age What exactly is a person’s biological age?  First, let’s begin with chronological age.  This is the normal way to … Continue reading Investing for Retirement: Biological Age Versus Chronological Age

Roth IRAs for a Younger Crowd of Retirement Savers

Financial planners across the United States like to say that it is never too early to start thinking about retirement. To many people, this means starting to save for the future when one has a decent career-oriented job and a healthy starting salary. However, saving money for retirement can start even earlier than that; college … Continue reading Roth IRAs for a Younger Crowd of Retirement Savers

Beating Taxes in Retirement Savings

Throughout our working lives, a portion of our paychecks goes to taxes. The tax rate is determined by income, and what we owe is dependent on our salaries. While it is possible to lower taxes through various means, such as contributing to a retirement plan or deducting mortgage interest, our salaries are the single most … Continue reading Beating Taxes in Retirement Savings

The Ins and Outs of 401(k) Plans

Many people are confused about the different types of retirement savings plans.  The confusion grows when they are faced with such decisions as which plan to place their money, how much, and when they can draw their money out during retirement.  Traditional or Roth?  401(k) or 403(b)?  The questions concerning retirement savings plans can be … Continue reading The Ins and Outs of 401(k) Plans