Housing is the single biggest monthly expense for many families, so if you don’t have a housing payment to worry about during your retirement years your savings will last you a lot longer. Paying off your mortgage by the time you retire isn’t complicated; it just requires a little preparation. Your repayment plan If you
There are increasing numbers of older people starting their own business. When people retire they face a great challenge; how to survive without a job and how to find a purpose in life. For some it is an opportunity to pursue hobbies and sports that they love but others miss the buzz of the workplace.
My mom, who passed away a few years ago, was a very careful and meticulous person who kept a notebook with all of her online account passwords. Mom was also a Morse code operator in the Royal Air Force during WWII, so all of her passwords were in code. I was lucky: She told me
From technical glitches on the New York Stock Exchange to economic turmoil in Greece, in today’s information era of 24-hour news cycles, it can be easy to let emotions seep into your investment decisions. As you approach and transition into retirement, buy-and-hold waiting games in times of double-digit fluctuations can be scary and impractical. The
If you’re on the fast track to retirement, you’re probably busy planning your new, post-work world. Perhaps you’re considering a stint as a volunteer, or ready to sit back and do nothing for a while. Maybe you’re seriously considering a round-the-world trip – you know, the type you could never take when you were working full-time.
One of the most important things you’ll have to consider when drawing up a comprehensive financial plan is how you want to live in retirement. Ironically, a vital part of that discussion will be deciding what you want to happen when you die. Many Baby Boomers want to leave money to their children and, like