start saving for retirement

Start Saving for Retirement Immediately by Doing These 5 Things

If you aren’t currently saving for retirement, the time to start doing so is now. Time isn’t slowing down, which means that every day you spend spending money rather than saving money is essentially a missed opportunity. If you want to start saving for retirement immediately, then start today! Consider these five things you can do to start saving for retirement immediately.

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baby boomer retirement mistakes

Avoid These 7 Baby Boomer Retirement Mistakes

Everybody makes mistakes—it’s just part of life. Some mistakes, however, can have longer-lasting effects than others—especially those related to your retirement. As the baby boomer generation enters retirement, some common patterns have emerged regarding mistakes retirees are making. Here are a few of those baby boomer retirement mistakes you should avoid, based on results of the 2017 Retirement Income Literacy Survey from the American College of Financial Services.

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retirement road map

4 Factors That Can Shape Your Retirement Road Map

Planning for retirement is a personal process. Deciding when you will retire depends on your readiness to stop working, your physical health and your individual financial situation—all of which are factors that are specific to the individual. For that reason, your retirement road map will not always be identical to that of your friends, your coworkers or even your spouse.

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address inflation during retirement

4 Ways to Address Inflation During Retirement

Remember when a handful of coins meant more than just change cluttering up your purse or pocket? When a fun Friday night for two could be funded with a $5 rather than $50? The increase in what items cost over time is due to inflation—a concept that becomes especially important when it comes to retirement planning. When planning for retirement, most people factor in the projected costs of inflation to determine how much money they will need to stash away to fund their lifestyles decades down the line. But once you retire—inflation doesn’t stop there. It continues throughout your retirement, which could potentially be decades long. So how do you address inflation during retirement?

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achieving financial stability

6 Quick Tips for Achieving Financial Stability

Financial stability is not something most of us think about when we are young, but as we grow into adulthood, it is something that we become more and more obsessed with. After all, it costs money to live, and it costs even more money to live well. Achieving financial stability is an ongoing goal that many of us have set for ourselves, but is it easier said than done?

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downsize your life in retirement

7 Ways to Downsize Your Life in Retirement

If retirement is in your near future, you’re likely experiencing an influx of emotions. Nostalgia for the end of your career, excitement for your newfound free time and worry for how you’re going to handle living life on a limited income stream. Any time you enter a new life phase, change is the name of the game, and knowing how to make changes for the better is key to making the next chapter a successful one. One way to ensure your financial success during the period of your life when you are no longer working is to downsize your life in retirement.

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stretch your retirement budget

4 Ways to Stretch Your Retirement Budget

Your retirement budget may seem fixed, but in reality it can be flexible. You want your savings to last you the duration of your retirement—and perhaps also be able to leave a legacy to your beneficiaries beyond your retirement. One way to do that is to learn how to stretch your retirement budget so that you’ll never have to worry about coming up short financially during your retirement years.

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make your savings last

Retiring Early? Here’s How to Make Your Savings Last

Retiring early is an end goal for many. However, doing so requires a higher degree of effort put in to accumulating a substantial nest egg earlier on in life than is necessary if you plan to retire a decade later than what you would consider “early,” for example. According to the Employee Benefits Research Institute, 9 percent of workers say they plan to leave their jobs before age 60. Retiring early certainly is not out of reach, and if you can make it work for you—congratulations! But with that comes the idea that you also have a longer retirement to account for financially. You have to make your savings last for a longer amount of time, so this is where some careful strategizing comes in.

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