living beyond the 4 percent rule in retirement

The Case for Living Beyond the 4 Percent Rule in Retirement

Save, save, save. This is what we’re told as we make our way through our working years—in preparation for the time in our lives when our regular paychecks stop showing up in our bank accounts. Saving is certainly solid advice, but some of the “tried and true” historically-accepted ideas about retirement saving are no longer as tried and true as we once thought them to be. Take the 4 percent rule, for example. This rule states that you should take out 4 percent of your retirement savings to live on annually in retirement. If your total retirement savings is $1 million, then 4 percent of that would be $40,000 to live on each year. For many, $40,000 a year sounds adequate enough, right? However, there is a case for living beyond the 4 percent rule in retirement

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trends facing our retirement futures

3 Unfortunate Trends Facing Our Retirement Futures

Ask anyone about the retirement outlook for the majority of Americans, and most of your answers will probably be to the effect of, “It’s pretty bleak.” A 2016 survey conducted by financial firm Allianz found that more than 60 percent of baby boomers actually fear running out of savings in retirement more than they fear death. That’s a pretty serious sentiment. Though individually, some workers have established the financial security they need to retire well, as a whole, our country is struggling—and these trends facing our retirement futures are to blame.

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women to improve their financial security

6 Ways for Women to Improve Their Financial Security

It’s no secret that women face a certain set of challenges when it comes to their financial situations, especially owing to the fact that females are still significantly underpaid compared to their male counterparts. Another common obstacle is due to the fact that many married women rely on their husbands to manage the money, and when and if the time comes that they need to take care of it on their own, they are left feeling overwhelmed and underprepared. This is exactly why, however, women should be more proactive when it comes to their finances. Consider these ways for women to improve their financial security as they move through life.

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today's retirement

7 Things to Know About Today’s Retirement

As society changes over time, so does the reality of retirement. Whereas our parents’ retirements may have come after entire careers spent at the same companies with cushy pensions as rewards, most retirements today and in the future are looking quite different. Here are seven things to know about today’s retirement.

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behind in saving for retirement

Behind in Saving for Retirement? Here’s What to Do

If you feel that you are behind in saving for retirement, you are not alone. According to recent data from Northwestern Mutual, one-third of Americans have less than $5,000 set aside for retirement. In addition, 21 percent of Americans have no retirement savings to speak of.

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barriers to retirement

How to Combat These 4 Barriers to Retirement

Preparing for a financially sound retirement is not something that happens overnight. It takes decades of proactive saving, smart investing and weighing your tolerance for potential risk. However, even with the most careful planning, there are still certain barriers to retirement that inevitably exist. Here, we’ll look at four of these barriers and address how you can go about breaking them down.

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retire on time

4 Steps to Take to Retire on Time

If you’re like most of the working population, you look forward to the day that you can cease the daily grind in exchange for days spent doing the things you did not have time for when you were working full time—hobbies, traveling or spending time with family and friends. However, being able to retire on time won’t just happen out of nowhere.

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women and retirement

Women and Retirement: Here’s What You Need to Know

The little things you buy from day-to-day may not seem like they have a major impact on your retirement saving efforts. A latte here and there, after-work drinks with coworkers, a gift to yourself from your Amazon wish list. However, all of this adds up. A recent study conducted by SurveyMonkey for the Acorns app found that one out of every three millennials spends more money on coffee than they spend saving for retirement! What’s more, the survey found that this statistic applied to a majority of women. When it comes to women and retirement, the same basic principles apply for anyone building a nest egg.

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best suburbs for retirement

The 10 Best Suburbs for Retirement

During your working years, you may have decided to cut the lengthy commute to move somewhere closer to your city-based place of employment. However, with work no longer dictating your life in retirement, you have the freedom to opt for the amenities of suburban life—including a respite from the traffic, noise and congestion that often accompanies city living. If the suburbs are calling your name, consider one of these 10 best suburbs for retirement, as outlined by a GOBankingRates study that took into account taxes, living expenses, retirement income and livability.

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retirement living situations

6 Types of Retirement Living Situations to Consider

Making sure your retirement financials are in order well ahead of time is a critical, yet admittedly stressful, task. However, there is also a fun side to retirement planning, and that is deciding how and where you are going to spend all of your newfound free time. From traveling the world to never venturing beyond your front porch, there are a variety of retirement living situations to consider—many of which are becoming more and more feasible thanks to technology. Here are a few ways to think about spending your life in retirement.

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