My client asked me recently about “credit insurance” to protect against the recent Equifax data breach. My answer was no. But a credit FREEZE is a good idea. You have probably seen the headlines about 143 million credit records leaked at Equifax and before that 1 billion accounts were exposed at Yahoo and 110 million …
How do I know if I can retire?
Once upon a time there were jobs that could sustain you for your entire working life. Many of those jobs had valuable pension plans. If you worked there for 30 years, you could quit, take the pension and pay all your bills without having to work another day in your life. It’s just not that …
I just inherited one million dollars. Now what?
It’s usually a pipedream people entertain to explain why they aren’t working on their financial plan today: “As soon as I win the lottery…” “When I get my inheritance…” “If only I had a million dollars…” Such wishful thinking is not a replacement for a solid retirement savings plan. However, every so often someone does …
Transferring a Company Retirement Account
If you have ever changed jobs, there is a chance you left your retirement account behind. If you are changing jobs right now, you have some options about the company retirement account. You might want to get some good advice.
Are you changing jobs, retiring or is your company retirement plan shutting down? If the answer is yes to any of these, be sure the assets roll into an eligible retirement account instead of having them paid to you. That way you avoid any tax consequence. And the money continues to enjoy tax-deferred earnings.
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What does it take to retire at age 62?
You are eligible to receive reduced Social Security income benefits as early as age 62. What does it take to quit work and live off your investments at age 62? Most Americans start receiving Social Security checks at age 62, according to the Center for Retirement Research at Boston College. One problem for these folks is that they have accepted a 25 percent reduction in the size of their monthly check for the rest of their life.
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Planning for Retirement Income
There is no time like today to start planning for retirement. Times flies when you are having fun, so start your retirement planning now, because “someday” is closer than you think.
When it comes to retirement, it may seem like something that seems far away, or almost impossible to achieve with the amount of student loans, credit card debt, mortgages, car payments and monthly expenses. Read Full Article