People who have watched the news regularly over the past few years have heard a lot of discourse about the Social Security system in the United States. The truth is that those who have been counting on it to fund their retirement should think twice. Fortunately, people whose physical disability has prevented them from working will likely be safe from the same financial hardships as other Social Security beneficiaries. [Read more…]
As millions of workers in the Baby Boomer generation prepare to retire, many businesses are feeling the effects in a negative way. Unlike today’s younger generations who are more comfortable switching from job to job, the Baby Boomers were brought up with the idea that the American dream included a steady job with one company for multiple decades (if not their entire career).
While this loyalty has served both the Boomers and their employers well, it could be a major challenge for businesses in the coming years. Boomers have held the keys to many businesses’ success for years. With their long tenure at one job, many of these employees have become well-versed in company knowledge. When they leave their positions to retire, they take that expertise with them, along with long-standing client relationships, product insights and other vital information.
Don’t waste your time trying to win the lottery, or looking for get-rich-quick schemes because the best way to become, and to retire rich, is to plan and work for it. In fact, that is the safest, and the most practical way to get millions in your bank account. Unfortunately, many do not know how to plan their finances properly. So they end up working their whole lives, and eventually retire with very little money to show for during their golden years. But the good news is… we will change all that today. [Read more…]
Many people look forward to retirement but are not taking action while they’re still employed. Some find themselves in a quandary when they’re already starting their retirement years and then panic finding ways to invest properly or when they’re about to get short of funds, find other financial resources to help them in their needs.
Experts have seen that many baby boomers who are more educated and financially capable than their parents still get confused as to how to invest their funds. They’re quite confident that with the lump sum they receive from their 401 contributions, they will not run out of money moving forward. As a result, some make unwise investments and misspend their savings on various expenses.
According to the experts, retirees are not getting the right information on managing their funds or they’re just not doing enough research to help them in this aspect. Some unfortunately fall victims to financial advisers who are out to take advantage of senior citizens not well knowledgeable about financial management.
Ideally, you’re setting aside a part of your income for retirement. But is that money enough? Not many people factor in inflation—your money isn’t going to be worth as much 10 or 20 years down the road. And what if you live a particularly long life? That’s a good problem to have, but nobody wants to be 90 years old AND broke. Here are some ways to build a retirement fund that includes those factors—so you don’t just live longer, but live better. [Read more…]