Retirement in Sight

ROBOCALLS, ROBOTEXTS: PROTECT YOURSELF, AND YOUR MONEY

Are you getting more unwanted text messages on your phone than you used to get? That is partly the result of a good thing – robocalls have declined. Robotexts, however, have increased. As robotexts bilked Americans out of $86 billion in 2020, you want to be wary of even the most innocuous messages coming your way.

POSSIBLE CHANGES FOR CATCH-UP CONTRIBUTIONS

Since 2002, Americans aged 50 and older have been permitted to make annual “catch-up” contributions to popular retirement accounts – but according to Vanguard’s 2021 How America Saves report, just 15% of retirement savers do. One factor may be the limits on these contributions. Many pre-retirees who are old enough to “catch up” would like to contribute considerably more to their retirement plans, as they need to ramp up their rate of saving.

CAN HAVING THREE GOOD FRIENDS PROMOTE A HAPPY RETIREMENT?

We can reasonably say that the more money you retire with, the more potential you have to enjoy retirement. Now, what about friendship? If you maintain some strong friendships and an active social circle after age 60, can that make a big difference in the quality of your “second act”?

IS FINANCIAL HEALTH A FACTOR IN YOUR OVERALL HEALTH?

Data from a newly released Harris Poll of more than 1,000 U.S. workers suggests that a majority of pre-retirees might answer “yes” to that question.

COULD A SECOND SECURE ACT TWEAK RETIREMENT RULES?

When the Setting Every Community Up for Retirement Enhancement (SECURE) Act became law in 2019, it altered retirement plan contribution and distribution rules. There may be an encore. 

PANDEMIC ECONOMY OR NOT, SOME ARE ASPIRING TO RETIRE EARLY

A new study from Hearts and Wallets, a research firm founded in 2010 to study American retirement saving and investing trends, hints that the dream of retiring in late middle age is alive and well, although perhaps in need of a reality check.

STEPS TO STAYING IN THE ZONE

Today, it can be hard to focus. How can you stay focused with all the distractions, anxiety, and uncertainty brought by the pandemic? Interestingly, the way to maintain your focus might be to unfocus your mind now and then.

NEED CASH? AVOID TAPPING YOUR RETIREMENT ACCOUNT

Imagine if your 35-year-old self magically appeared in front of you one day and asked for a percentage of your retirement savings or a bit of your retirement income.

EVALUATING AN OPPORTUNITY FOR AN EARLY RETIREMENT

The pandemic has hastened the retirement of some baby boomers, and the linked furloughs and layoffs in many industries have led others to wonder if a retirement transition might come sooner than they think. Buyouts became common last year as businesses cut costs. What if you receive one this year? 

TO RETIRE, OR NOT TO RETIRE?

For some of us, the coronavirus pandemic has complicated the question. As Yahoo! Finance reports, a Harris Poll study conducted this past summer found that 25% of Gen Xers and 14% of baby boomers think they will retire later than they planned, because of the pandemic’s financial impact on their lives.  Will this perception be fleeting?

THIS YEAR THERE IS MORE INCENTIVE TO GIVE

When the Coronavirus Aid, Relief, and Economic Security (CARES) Act became law in March, it broadened charitable tax deduction opportunities. These special 2020 tax provisions are worth reviewing before they expire on December 31, 2020.

MOST AMERICANS THINK THEY WILL WORK IN RETIREMENT

A life of leisure? That may not be what retirement looks like for baby boomers and Gen Xers—and in fact, it may not be what they want their retirements to look like.