If Retirement Savings Aren’t Enough

Many people that are close to retiring worry that the retirement savings they’ve built up are not going to be enough for their needs. By this late stage, however, further savings alone may not give a fast enough return. Are there other ways to improve retirement income later in life?

5 Ways to Improve Retirement Income
There [...]

Measure 66 – taxing your retirement savings

The business press and investment advisers have declared this year to be the Year of the Roth IRA.
Roth IRA: With a Roth IRA, virtually all income-growth and withdrawals are tax free. Because retirees don’t pay taxes on their withdrawals, the Roth IRA has been called “one of the best deals in retirement planning”.
With the [...]

Personal Finance : Lost your job? Don’t cash out your 401 (k)

Millions of workers take a huge chance with their retirement savings every year by cashing out their 401(k) accounts when they lose their jobs or move to new employers.

When people cash out, a chunk of their money just disappears.
Employers and financial advisers have warned workers about the possibility of retiring poor, something that’s more likely [...]

Ways to protect your retirement savings

Retirement is a crucial step in life. After working hard for many years and making compromises for your career, it’s perfectly natural to want the freedom to choose your desired lifestyle and to enjoy the peace of mind of financial security throughout retirement.
However, there are clear and identifiable risks that threaten this retirement serenity. These [...]

Withdrawing retirement funds

After retirement, you’re likely to find your retirement savings include several different vehicles, which might include 401(k) plans, IRAs, profit sharing plans and taxable investments.
When withdrawing funds, you need to decide the best order for tapping those accounts. Withdrawing your funds in the most tax-efficient manner can add years to their life, thus increasing [...]

Central Provident Fund : What you should know

In the coming weeks, about 700,000 Central Provident Fund (CPF) members aged 55 and above will be invited to join the CPF Lifelong Income Scheme For The Elderly (CPF Life). The annuity scheme offers a choice of four plans that pay a monthly income for as long as you live.
These plans offer various combinations of [...]

Seven Steps to Supercharge Retirement Savings

One of the areas of an investors’ portfolio that sorely lacks proper attention is the 401(k) plan. According to Chip Workman, Lead Advisor with Cincinnati-based The Asset Advisory Group, a 401(k) is often the single largest asset an investor has for their retirement savings. “These accounts are taken for granted or simply ignored far too [...]

Should financial advice for men and women be different?

The reality is most Americans may be underprepared for their financial futures. Taking control of your financial future may be even more important for women than it is for men. Here are four reasons women need to invest and save actively.
1. The earnings gap
Even today, men tend to earn more than women. [...]

What about Taxes and Your Second Mortgage?

For the typical consumer who has managed to acquire credit card debt, automobile loans, and different other small debts, is the second mortgage loan an answer for the consolidation of debt and a tax reduction? Rather often the answer to this question is yes. Second mortgages that have traditionally been used in areas of home [...]

Personal finance: College vs. retirement

Sven Eklof, 32, says he and his wife, Irma, 31, have a pretty good handle on their retirement savings, but planning for the skyrocketing costs of education are something he has questions about. Upon the advice of a local financial adviser, he is interested in opening a 529 account to help address his family’s financial [...]

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