Photo by sirtravelalot / Shutterstock.com Staying physically fit after age 50 will help improve your health as you age, of course. But it can also benefit your body, mind and wallet in ways you might not realize. For example, Suzette Pereira, a research scientist specializing in muscle health and aging, …
Read More »7 Reasons to Carry Mortgage Debt Into Retirement
Photo by Andy Dean Photography / Shutterstock.com Paying off a home mortgage before you retire is a common goal, but it isn’t always the best financial strategy. It could end up costing you in the long run — such as by leaving you without cash savings to cover an unexpected …
Read More »New Retirement Benefits Bill Offers Perks for Seniors and Loan Borrowers
The latest bipartisan retirement bill proposed by the House on Tuesday has a lot of perks. The biggest is changing the age at which people must start withdrawing money from their 401(k) from 72 to 75. Called the Securing a Strong Retirement Act of 2020, the bill aims to ensure …
Read More »7 Social Security Myths That Can Cost You in Retirement
Krakenimages.com / Shutterstock.com The closer we get to retirement, the more Social Security’s exacting rules suddenly matter. Yet fewer than half of American adults are confident in their knowledge of Social Security’s rules, according to a new survey by Nationwide Retirement Institute. The danger of buying into myths about Social …
Read More »Is Early Retirement a Good Idea?
USA Today recently published an article on the drawbacks of retiring early. The article’s criticisms of the idea of retiring early boiled down to three key points: If you retire early, your savings have to support you longer. This is an obvious point. If you retire when you’re 55 instead …
Read More »16 Ways to Outsmart Your Brain for More Wealth and a Better Retirement
1658871559 / Shutterstock.com This story originally appeared on NewRetirement. Your brain is not necessarily set up in a way that makes it easy to plan a secure retirement. You have cognitive biases — faulty ways of thinking that are unfortunately hardwired into your brain — that work against you. Behavioral …
Read More »Answers to Your Toughest Retirement Questions
Photo by Aaron Freeman / Money Talks News In critical ways, your golden years will be the mirror image of your working years. Instead of earning money, you’ll be living off the money you’ve already earned. Blow through those savings? Too bad; no do-overs. Instead of identifying yourself by your …
Read More »8 Tips for Building a Useful Retirement Plan
Rawpixel.com / Shutterstock.com This story originally appeared on NewRetirement. Everyone knows that they need a retirement plan. But that means different things to different people, and not every plan counts as a truly useful retirement plan. Sometimes a retirement plan is something that is prepared for you by a professional. …
Read More »4 Common Retirement Blunders in a Downturn
fizkes / Shutterstock.com If you are retired or retiring soon, you know that financial decisions you make today will have a big effect on the life you’ll be able to have going forward. Yet, the turbulence and confusion of the coronavirus pandemic can stir up emotions, making it harder than …
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