A lot of people dream of early retirement. However, according to findings from the Boston College Center for Retirement Research, the average age of retirement has risen to 65.7 years old for college-educated men, 62.8 years old for college-educated women, and around 62 years old for people whose highest level of education is a high school diploma. FACT: Planning ahead is essential if you want to retire early. Gaining control over your time is really what the early retirement … [Read more...] about 6 Steps To Consider for Early Retirement
7 Steps To Prepare for Retirement
If the pandemic proved anything, it's that life tends to get in the way of our plans — including retirement plans. Over the course of the pandemic, many people were forced to retire early, others decided they wanted to retire and still others opted to change their planned retirement date. The number of people affected is high; a recent survey found that more than 80% of Americans say their retirement plans were impacted by the pandemic. While you may not be able to control when you … [Read more...] about 7 Steps To Prepare for Retirement
Estate Planning With Big Age Gaps
Are you in an age-gap relationship? Five percent of first marriages and 20% of second marriages need a special focus on making both of your needs work. Financial matters for large age-gap retirement planning include retirement funding, Social Security planning, and health care costs. Retirement Planning Imagine a scenario in which the older spouse is ready to retire, while the younger spouse is hitting her/his stride and doesn't want to slow down. How should … [Read more...] about Estate Planning With Big Age Gaps
New Tax Law and COVID-19 Relief Law Bring Changes to Your Retirement Plan Options
The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act and Coronavirus Aid, Relief, and Economic Security (“CARES”) Act have brought about changes that affect your retirement plans and retirement planning options. Many of these changes are positive developments for individuals saving for retirement or looking to access their retirement plans during this financial crisis. Other changes negatively affect our estate planning clients with large IRAs and other retirement plans who … [Read more...] about New Tax Law and COVID-19 Relief Law Bring Changes to Your Retirement Plan Options
