A recent study found that a record number of people (around 28%) with 401(k) retirement funds had loans (averaging $7,860) outstanding on them in 2010, meaning that these same folks will not have as much money set aside when it does come time to retire. That’s why a pair of Senators have introduced legislation that would make it more difficult for people to tap their 401(k)s. [More]
At some point, whether by your own choice or that of those who pay you, you’re most likely going to have to call it a career and move on to a life of shuffleboard and early-bird specials. [More]
Most of us won’t be retiring anytime soon. But for those few who will be saying goodbye to the workforce forever in the next few years, the people at TopRetirements.com have put together their list of the worst states in which to live out your golden years. [More]
Douglas received an unexpected delivery from UPS last week: a check from Fidelity Investments made out to Vanguard Fiduciary Trust Company for over $300,000, along with a bunch of 401(k) rollover paperwork that included the real account holder’s address, date of birth, SSN, and phone number. [More]
BusinessWeek came out with a list of the most affordable places to retire, and my hometown of Tucson topped the rankings. This is a big deal for Tucson, given it normally doesn’t top any national statistical categories other than impoverished education systems and cholla stings. [More]
U.S. News & World Report names the 10 “Best Affordable Places To Retire.”
These days many parents are struggling with saving any amount of money. So imagine the difficulty of trying to tackle the seemingly insurmountable tasks of saving for college and retirement simultaneously. No question, it’s a tall order. To give parents some options to consider, US News offers suggestions for dealing with this double-headed financial dragon as follows:
Christian personanl finance blog Redeeming Riches offers four revelations on how you may be mistreating your 401(k).
After the past year’s economic slump, it’s safe to say that most of our retirement accounts are not what they used to be. So how do you know if the stock market crash has derailed your retirement or not? Of course, the first step in the process is knowing how much money you’ll need for those future days on the golf course. Personal finance blog Wise Bread says we all have two main options for determining our retirement numbers, namely:
Forget about mall-walking and midday bingo games. It seems that workers over 55 just aren’t interested in retiring. This is problematic for the young people who, under different circumstances, would have replaced them in the workforce.
A growing personal finance debate centers around whether or not individuals should have a mortgage when they retire. A surprising number of retirees maintain a mortgage — 4 in 10 in 2007 — but is this good financial management?
Saving can be boiled down to a few universal financial truths. The sooner you know and internalize them, the sooner you can start enjoying a responsible, sustainable lifestyle.
If you planned on retiring soon you’ve probably had to readjust your expectations. But even if you’re still on target to take it easy soon, you should reconsider until you’ve paid off your mortgage.
It’s not such a great time to be heading into retirement, which may be a reason prospective retirees may want to glance through the AARP’s 50 Ways To Love Your Money PDF.