The old social narrative of falling in love, buying a house, raising a family and retiring are long gone. From increased lifespans to increased costs, the old ways are no longer feasible for many. How do you save for a retirement when you are looking at thirty or more years of life after retirement? How do you put money away when costs increase, and your wages are stagnant? The answer is not easy, and, indeed,…
It is essential to consider how best to invest for your retirement. While most people in the UK will benefit from a state pension, it is advisable to invest enough money early enough to provide for a comfortable life after work and to prepare a future for your children. There are many pension options to choose from, and most of these are legitimate. However, in recent years, there has been an increase in mis-sold pensions,…
Poverty in retirement is a real concern these days. As more jobs don’t provide adequate pension schemes or even a scheme at all, now more than ever, it’s the responsibility of the individual to ensure their retirement planning is in order. Don’t be one of the ones who end up in this state and follow this 5 step guide to help you avoid poverty in retirement. Plan Ahead This may sound obvious but planning ahead…
For many Australians, the phrase ‘out of sight, out of mind’ is an accurate descriptor of their superannuation funds. But since this money will shape the way you live out the later years of your life, it is time to take a closer look. Do Your Research Since a 0.5% increase in fees can alter the average full-time worker’s super balance by as much as 12%, do some thorough research into what the best option…
The changes to the federal tax laws that took effect in 2018 were hotly debated and fairly dramatic. Federal income tax rates went down for all tax brackets and the standard deduction doubled. The doubling of the standard deduction had a bigger impact than many thought. Because it no longer pays for most people to itemize their deductions, popular tax deductions such as mortgage interest, charitable giving, and state income taxes no longer matter for…
The moment you choose to retire from the workforce and start spending your hard-earned savings for the rest of your life, everything changes. These changes affect your life both personally and financially, and you have to prepare yourself for the new lifestyle ahead of you. Getting a Retirement Planner San Diego will help you to adjust to these changes and make the whole retirement more bearable. You may be thinking it is all just fun…