My Retirement Plan Is You

Americans without retirement savings are increasingly moving in with their millennial children. Sian-Pierre Regis, 35, is used to living with roommates. For the past 10 years, he has split the rent on his apartment in the Chelsea neighborhood of Manhattan with two (in...

5 easy ways to manage your money during COVID-19 pandemic

Right now, spending habits are changing, for better or worse. With unemployment at an all-time high and many people working from home, your budget could be totally different from usual. You may be tight on money or have a little extra cash in your pocket. Regardless...

How the coronavirus downturn may change your plans to retire at 65

KEY POINTS About half of Americans retired earlier than they expected, according to a recent survey. Less control over your retirement date could become more prevalent in a post-coronavirus economy. Based on your work prospects, you may retire either much earlier or...

A Devastating Jobs Report For Older Workers

“Jobs Friday” is usually a nerdy day for financial types and economists only. But everyone was watching the most recent jobs report. I had a big drink and told my family to remember May 8. For labor economists, it will be a day to remember. For the first time, even...

3 Ways COVID-19 May Hurt Your Retirement

Here’s how the ongoing crisis could wreck your long-term plans — and what you can do to prevent that from happening. COVID-19 has turned the U.S. economy on its head, battering the stock market and forcing millions of workers into unemployment. But while...

Seven Ways the COVID-19 Pandemic Could Undermine Retirement Security

The COVID-19 pandemic could upend retirement planning, jeopardizing financial security for the next generation of retirees. Experience from the 2007–08 financial crisis and Great Recession that followed suggests the current crisis could wipe out existing retirement...

Here’s Why COVID-19 Is Your Retirement Fire Drill

Dick has worked as a hospital administrator for 30-plus years. He was planning to retire in a few months. COVID-19 just delayed his plans for many months, or perhaps for years. Reflecting on what the market decline has done to his retirement savings, he conceals his...

Here’s Why COVID-19 Is Your Retirement Fire Drill

Dick has worked as a hospital administrator for 30-plus years. He was planning to retire in a few months. COVID-19 just delayed his plans for many months, or perhaps for years. Reflecting on what the market decline has done to his retirement savings, he conceals his...

How many more years do you need to live in order to wait it out?

With all that is going on in the market with the Coronavirus, we have received many requests to give our opinion on how long it will take for a retirement savings to get back to the level it was before the virus took its toll on the market. Understanding that no one...

Worried About Coronavirus? 5 Financial Moves for the Age of COVID-19

Everything these days seems to be about coronavirus, coronavirus, coronavirus. Especially when you have a family, these can be scary times. So, first and foremost: Chances are that you will be OK. The novel coronavirus seems to mostly spare young kids, and if you’re a...

Safety vs. Probability: Planning For Retirement

As we progress through life, we find there are certain things we can control and others we cannot. However, even with the things we can’t control, we can exercise good judgement based on facts, due diligence, historical patterns and a risk/reward calculation. These...

3 Things You Must Do Before You File For Social Security Benefits

Taking these steps before you begin claiming can ensure you’re receiving as much money as possible. The majority of retirees will depend on their Social Security benefits for at least a significant portion of their income. In fact, half of married couples and...

7 Smart Money Moves for 2020

New federal legislation made sweeping changes in retirement plans. Here’s what you need to know. The new year has brought a number of changes in financial rules affecting consumers. Many of them are in new federal legislation called the Secure Act, which mostly...

Is retirement good for health or bad for it?

For many people, retirement is a key reward for decades of daily work—a time to relax, explore, and have fun unburdened by the daily grind. For others, though, retirement is a frustrating period marked by declining health and increasing limitations. For years,...

Fixed vs. Fixed Indexed Annuities: What’s the Difference?

Among the various kinds of annuities, which are contracts you sign with an insurance company to pay a premium for guaranteed income later, two of the most common are fixed and fixed indexed annuities. The former offers a fixed rate of return; the latter ties your rate...

Numbers that older workers and retirees need to know in 2020

From retirement plans to health care, things are changing A new year and a new decade begin next week. Whether you’re retired or still working, many changes are coming that could affect you—for better and/or worse. Here’s our breakdown of what you need to know in...

Six Ways Social Security Will Be Changing In 2020

Every day, 10,000 or so baby boomers are turning 65. Some of you have probably already retired. Many are likely counting the days until they can leave the full-time workforce.  For many of you, Social Security will be a major part of your retirement income.  With that...