Saving vs. Investing in Your Retirement
However, saving money for the future will never allow that money to grow. The Great Recession and the coronavirus pandemic have both led to long-term periods with interest rates that are near zero. This means that a $1,000 investment in a savings account will likely get a few pennies in interest each month. Such “investments” will lose money over time because of the impact of inflation. $1,000 today will buy more than $1,002 will in a couple of years.
How You Can Retire Earlier Than Planned
Early retirement can involve many pitfalls, especially if tax-advantaged retirement accounts like 401ks, IRAs, or 403bs are involved. A professional retirement planner can offer expert advice at maximizing tax savings. Consumers should search for financial advisors with fiduciary responsibility. According to U.S. News, these advisors are legally required to offer the most beneficial advice to consumers rather than recommending high-fee or high-commission options that only benefit the advisor.
Make the Right Moves at Every Age to Retire Wealthy
Retirement savings are a big concern for most Americans. Most workers no longer anticipate seeing a pension in their golden years. Also, the deposit caps on accounts like IRAs and 401(k)s make it difficult to accumulate wealth. It's difficult even to retire...
What to Know Before Retiring Early
Retirement in the later years of your life is the ultimate goal for most people. Save for the few people who want to do their job until they’re no longer able to—people who live for their jobs—everyone wants to be able to enjoy their twilight years doing whatever...
The Future of Retirement
Once upon a time, retirement was a feasible part of the American dream. People saved up for retirement, had Social Security as a guaranteed income for their future, and much more. Today, however, retirement looks more like a pipe dream than something to aspire to....
How to Plan for Retirement in Your 20s
When you think of the word retirement, chances are your mind automatically goes down the line to the later parts of your life. You’re in your 60s, no longer need to work full-time (unless you enjoy doing so), and you can finally just enjoy life. That retirement money...
Signs That You’re Ready to Retire Early
Are you ready to retire? For some people, the idea of retiring at all is a far-away dream they can only hope for. For others, they’re at a point in life where they can afford to not only retire, but retire early. Once you retire, the world is your oyster, so why not...
Actions To Take Before Planning Your Business Succession
Planning for business succession is vital for the future of the business. The succession plan gives the owner a clear vision of the business objectives and how to achieve them. A business owner should be less subjective in succession planning, especially if it...
How To Properly Make A Business Succession Strategy
Across the globe, entrepreneurs of both large and small firms are always hesitant to undertake succession planning. The unwillingness to having a succession plan is reasonable, given the number of emotional decisions the owner has to make. Personal involvement and...
Adapting Your Business Succession Strategy To Any Crisis
The Covid-19 pandemic created uncertainty for all business managers. These times are especially problematic for anyone wanting a significant change in their lives. It might seem impossible to follow a previous business succession plan amid such a discombobulating...