Want to improve your retirement plan's payoff? Increasing your employee contribution is simpler, and less costly, than you think. Smart401k president Scott Holsopple offers retirement investment tips on MoneyBeat.
Looking to feel secure about retiring? Having a lifestyle plan in place for those golden years can make a difference. About 49 percent of baby boomers who feel confident about achieving their ideal retirement have a lifestyle plan in place. A Better Homes and Gardens Real Estate study found that those plans include buying a vacation or beach house.
The vast majority of Americans with access to 401(K) plans use them, but nearly as many don’t use them correctly. Barron’s Jack Hough joins MoneyBeat with tips on setting up the best retirement strategy.
According to a Gallup Poll released on April 22, 2014, three out of five Americans are worried about not having enough money for retirement. In honor of Financial Literacy Month, Prudential's Caroline Feeney gives her best advice on navigating the overwhelming landscape of planning your financial future. Feeney says focusing on the big picture and setting measurable goals are the best place to start.
Retirement plans must include stocks, especially when interest rates remain low, nevertheless, 401ks and IRAs are not for market-timing or day-trading, says Ric Edelman, author of "The Truth About Retirement Plans and IRAs". Edelman says individuals must think long term when it comes to their retirement plans and let diversification do the work as opposed to changing strategies on a daily basis.
It's still January so most people have not yet blown their New Year's resolutions to fix their retirement plans. Mahoney Asset Management President Ken Mahoney offers tips for those seeking to create or evaluate their retirement strategies. He also says investors should stick with stocks in 2014 after last year's big run, and be ready to scoop up more when the indexes inevitably dip over the course of the next 12 months.
Withdrawal policy statements provide concrete lines for retirees to identify when they need to adjust their spending rates and avoid on-the-fly decisions, says financial-planning expert Michael Kitces.