It’s difficult to predict an unexpected derailer in your retirement — but it’s wise to plan for the unexpected, says this piece from Kiplinger. To help you out, they’ve compiled 6 common and costly setbacks you could possibly experience during your retirement-saving process, with some tips on how to find your way out of them with a minimal amount of financial loss. From depleting your retirement income to fund college income to unexpectedly losing your job, read on for more problem-solving approaches to unexpected blips in your retirement planning process.
Although 65 was a typically standard retirement age in the past, a little less than half of all baby boomers don’t look at 65 as their aspiring retirement age, according to this piece from US News. If you’re considering retiring later than 65, read on for a list of 5 reasons why baby boomers are now more likely to postpone their retirement to a later age.
After you’ve read the Kiplinger piece at the top of this list, check out this piece from the Motley Fool for the core basics of retirement planning. If you’re still unsure of what to shoot for in your retirement financial planning, read on for some tips on the goals you should be setting for yourself — including addressing the threats to your retirement income that are under your control, while maintaining as much flexibility as possible in anticipation for the derailers you can’t control.
In contrast to the second piece on this list, this piece from US News looks at the other half of baby boomers that already consider themselves retired. Check out this piece for a brief summary on a survey of retired individuals for what worked out as they had planned, and what did not. From leaving the workforce earlier than expected to waiting until they were eligible for unreduced Social Security payments to collect them, read on to see how the now-retired baby boomers have experienced their retirement.
If you’re considering relocating to a retirement home or a timeshare, watch out for potential scammers, says this piece from Forbes. The Federal Trade Commission has just recently announced a crackdown on these types of scammers, who target future retirees looking for a place to relocate and trick them into paying expensive entry fees, only to never contact them again. For tips on how to avoid these scams, read on.
Check out this piece from the Huffington Post for a decade-by-decade schedule for things to consider during your retirement financial planning from your 20s to your 60s. Whether you’re just starting your retirement planning or currently in the process of doing so, this list is helpful for determining what you should be doing now, what you should save for later, and what you should be caught up to by now. Read on for a step-by-step look at retirement financial planning process.
There’s even more benefit than eliminating a significant chunk of debt when it comes to paying off your mortgage before you retire, says this piece from US News. From picking up better spending habits to simply having peace of mind, paying off your mortgage before you head into retirement is a significant part your goal of a financially comfortable retirement. Read on for more about how working to pay off your mortgage sooner rather than later could work out better for you and your retirement plans.
One of the biggest concerns among retirees is having enough retirement income to cover their living expenses for a few decades — and even with Social Security and employer-sponsored retirement plan benefits, you could still potentially experience a retirement shortfall, says this piece from MarketWatch. In light of many baby boomers postponing their retirement past the traditional age of 65, check out this piece for four basic places to start in avoiding a retirement shortfall.
Although saving and planning for retirement depends much on your individual financial situation, there are also many aspects of it that are universal for all future retirees. To help you out, here’s an in-depth look at retirement planning from Forbes focusing on what all retirees have to face — primarily, saving smart and saving enough for a comfortable retirement income. Read on for tips on kicking off your retirement savings plan as soon as possible.
Retirement isn’t just about being financially prepared, as the articles above gear you to think about — it’s also about being mentally prepared to make a significant move into a new stage in your life. For a guide on this mental preparation, check out this piece from the Huffington Post for the concerns that might have already emerged in moving into retirement, especially for those leaving a working life. From facing your potential fears around retirement to keeping yourself engaged during these decades, read on to learn more.
The articles recommended here by FreeRetirementReport.com are intended to guide you in your research for retirement planning for informational purposes only, and are not intended to direct you toward specific advice for your planning process. In making any financial decisions regarding your retirement, we always recommend that you seek the advice of a Certified Financial Planner (CFP) or Registered Investment Advisor (RIA). Opinions expressed in these articles are those of their authors alone, and do not reflect the opinions of FreeRetirementReport.com.