5 Benefits of Working in Retirement
In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 30.7 percent by 2031, up from just 25.8 percent in 2021. As the Boomer generation…
Important Birthdays Over 50
Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half” to make sure everyone knows they’re closer to the next age than the last. When you are older, “and-a-half” birthdays start making a comeback. In fact, starting at age 50, several birthdays and “half-birthdays” are critical to understand…
Saving in Retirement: What you Should Do Now
If you have already retired and realized you don’t have enough money in savings, what should you do? Here are some actionable items that retirees should make now to help build up your savings in retirement. FINANCIAL PLANNING Financial planning and removing fear from your decision-making process is really, important…
Retiring in a Recession: 4 Steps to Do Now
Even before inflation hit a 40-year high in June 2022, talks about a recession was looming in every investor’s mind and showcased front and center on media platforms. When a recession hits, much more is at stake than stock market shares. When the COVID-19 began in late February 2020, the…
Demographics Differing On Retirement Plans
According to PwC’s recent Retirement in America report, the median retirement savings among people ages 55 to 64 is $120,000. Unfortunately, that likely would provide less than $1,000 per month for a retiree, for only 15 years.1 There’s an interesting dichotomy among demographics when it comes to retirement planning these…
Public Safety Personnel: 6 Factors to Consider When Entering the DROP Program
The DROP program stands for Deferred Retirement Option Plan. The retention program was designed to keep public-safety personnel working longer by making it lucrative to stay beyond their eligibility to retire.
Fixed Income vs. Stock Portfolio
Early this year, many stopped spending and began saving money. This wasn’t difficult as many areas of the economy were — and possibly still are — shut down. For some, vacation plans were canceled, and the normal level of entertainment activities and dining out have been curbed. If you’ve remained…
The State of the Sharing Economy
The financial hardships of the Great Recession forced many people to start thinking outside the box. The “sharing economy” gained popularity in the late 2000s because it provided more affordable means to travel, maintain homes and access piecemeal work for small businesses. This was the beginning of Airbnb, Uber and…
Retirement Planning Challenges
In 1985, only 10 percent of people aged 65 and older were either in the workforce or job hunting. Today, that share has doubled, for a couple of reasons. First, fewer 65-year-olds have enough money to retire. Second, the number of people in this demographic with a college degree has…
Retirement: Savings and Financial Health
As many baby boomers near retirement, some new facts are coming into focus. According to the latest Government Accountability Office (GAO) report on retirement security, 29 percent of households aged 55 and older have no savings set aside for retirement and no pension. If that doesn’t change, they’ll be relying…