One of the biggest mistakes you can make when it comes to retirement is waiting too long to come up with a plan. Many people don’t start thinking about retirement until it’s quickly approaching, and it can be difficult to reach savings goals with short-term investing strategies. For many young professionals in their 20’s, possibly […]
How Can Young Professionals Start Planning For Retirement? Read More »
Pension plans are fairly rare these days, especially in the private sector. In today’s world, many people build their nest egg by contributing to a 401(k) plan or IRA. Once they retire, they’re responsible for making sure the money they saved up lasts for the remainder of their lives. Many retirees are concerned about unexpected
Annuities Offer Lifetime Income Similar to Pensions Read More »
It’s not uncommon for people to experience circumstances under which they feel the need to withdraw from their retirement accounts before reaching their retirement age. Early withdrawal from an IRA or 401(k) account typically results in hefty penalties, which makes this a less than ideal option. Generally, if you take a distribution from a qualified
Can I Make an Early Withdraw From My IRA or 401(k) Without Incurring a Penalty? Read More »
Many retirees and people approaching retirement wonder what to do with the funds in their qualified retirement accounts. One option to consider is using part of those funds to purchase an annuity. Unlike most funds held within a qualified retirement plan, an annuity can turn a lump sum of money into a guaranteed income that
Rolling Over a 401(k) or IRA into an Annuity Read More »
One of the biggest mistakes you can make when it comes to retirement is waiting too long to come up with a plan. Many people don’t start thinking about retirement until it’s quickly approaching, and it can be difficult to reach savings goals with short-term investing strategies. For many young professionals in their 20’s, possibly
How Can Young Professionals Start Planning For Retirement? Read More »
There are many unknowns in retirement. How long will your money last? How will you pay for unexpected medical and long-term care costs should the need arise? Many people who are approaching retirement or who have recently retired have some confusion, and possibly a bit of fear, about these and other questions. At Absolute Retirement
3 Common Questions About Retirement Read More »
Many people rely on Social Security as a big part of their retirement income. When you are no longer receiving paychecks from work, it is essential that you maximize your benefits. These are some tips and considerations to help you get the most out of your benefits! Work Longer Your Social Security payments are based
Strategies To Help Increase Your Social Security Benefits Read More »
Inflation refers to the general rising of prices of goods and services. As inflation continues, the purchasing power of the dollar decreases. Fortunately for many people in the workforce, salaries tend to increase consistent with inflation. However, for those who are no longer working and relying on their savings to provide fixed income, inflation can
How to Combat Inflation in Retirement Read More »
Many retirees have multiple streams of income from different accounts. How and when you decide to start taking withdrawals from these accounts impacts what you pay in taxes. The rules can be a bit complicated and it’s not uncommon for retirees to incur penalty fees for making mistakes. These are some strategies for avoiding penalties
5 Tips to Reduce the Tax-Impact of Retirement Account Withdrawals Read More »
If you are planning for retirement, you may have heard of the “4% rule”. This guideline, which was created in the 1990s by a respected financial advisor by the name of William Bengen, states that retirees can withdraw 4% of their total savings each year, adjusted for inflation, and not run out of money in
What Is The 4% Rule For Retirement Withdrawal Strategy? Read More »
