Planning for retirement can be tricky. Much uncertainty is involved, like future financial market returns, personal spending needs, and more. My learning curve was steep when I started pursuing Financial Independence and Retire Early (FIRE).  Initially, it felt like a very faraway goal and still feels like a very big one to achieve, and I am not the only one. Employee Benefit Research Institute (EBRI) 2023 Retirement Confidence Survey finds that 64% of working Americans are doubtful about their retirement, dropping 10% compared to last year. A drop like this hasn’t been seen since the 200 ..read more

Do you think retiring to warm weather and sandy beaches makes California a top spot for your golden years? Think again. While California may seem like an attractive retirement destination due to its diverse landscapes and vibrant culture, there are compelling reasons to think twice before making the Golden State your retirement haven. You might be surprised at some of the challenges the state faces, which will directly impact your retirement. Let's take a look. Cost of Living Shutterstock California consistently ranks among the highest-cost states in the country. Exorbitant housing prices, ste ..read more

Retiring early is the dream of many, but without proper health coverage, it can quickly become a nightmare. Navigating the complex world of healthcare can be challenging, especially when you retire before reaching the age of eligibility for Medicare. We all need healthcare regardless of our employment status.  Let's explore three effective ways to handle healthcare in early retirement, ensuring you can enjoy your golden years without compromising your well-being. Three Ways To Handle Healthcare in Early Retirement Image Credit: Shutterstock. Health Savings Accounts (HSAs): A Strategic Fin ..read more

Have you ever heard of people retiring and living on a cruise ship full-time? Believe it or not, it happens. And more than you might think. While some may consider traveling the world on a floating city for their golden years, retiring to a cruise ship might not be the idyllic lifestyle it appears to be at first glance. Let's explore seven reasons why choosing a cruise ship as a retirement haven may not be the best idea. Why You Shouldn't Retire to a Cruise Ship Limited Personal Space One of the key drawbacks of living on a cruise ship during retirement is the limited personal space. Sure, you ..read more

Nineteen percent — or 11 million Americans — age 65 or more are still hard at work. According to Pew Research, that’s nearly double the number of potential retirees in the mid-80s who still clocked in for their jobs. But the real story isn't just about the sheer numbers; it's about a seismic shift in the choices made by older generations. Workers age 75 and older are the fastest-growing age group in the workforce, more than quadrupling in size since 1964, while employment among men ages 25 to 54 continues to sink. As the world of work undergoes a dramatic transformation, it's clear that older ..read more

In 2021, Debbie Crowley discovered the cost benefits of retiring in Tamarindo. For example, an MRI scan cost her a mere $187, as opposed to the United States national average of $926.56. As retirement savings need to stretch further, the International Living Annual Global Retirement Index becomes crucial. Every year, the Index reveals destinations that offer affordability alongside quality of life. In 2024, it highlights countries that provide financial ease, excellent healthcare, and diverse experiences, proving ideal for retirees seeking to optimize their golden years. Costa Rica This Centra ..read more

Witnessing my baby boomer parents' missteps in retirement planning, I've realized the importance of a nest egg. It wasn't always easy to see the financial burdens they encountered. However, these experiences equipped me with crucial insight into careful retirement planning.  I was curious to learn more about avoiding the mistakes my parents' generation made. So, I contacted a few financial professionals to get their insight. Their responses highlight past errors that can be a valuable guide toward a financially secure and comfortable retirement. 1. Counting Chickens Before They Hatched Im ..read more

Growing up, when I would hear about rich people passing down their million-dollar mansions, companies, or entire bank accounts to their heirs, I thought I had to reach that level of wealth to ever consider writing a will. Estate planning seems so far away, especially if you’re still building wealth and collecting assets. As I got older, I realized that life is uncertain, age doesn’t guarantee a long life, and drafting a will is crucial to estate planning, no matter your net worth. Creating a will protects your estate, distributes your assets properly, and protects your loved ones from confusio ..read more

Many people look forward to retirement, envisioning a time of relaxation and financial security. However, not everyone experiences retirement with the same comfort level, and there are signs earlier in your life that point to how rich your retirement will be.  If you're hoping to retire rich, it's crucial to recognize the signs that indicate you're on the right track. In this article, we'll explore 16 clear signs that suggest you're well-positioned for a prosperous retirement. Diverse Portfolio Mastery Shutterstock Retiring rich often involves a well-diversified investment portfolio. If y ..read more

According to Robert Half, more than half of United States companies plan to increase hiring in the first half of 2024. Additionally, employers added 216,000 jobs in December, according to the most recent jobs report by the Bureau of Labor Statistics. This reality, coupled with mass layoffs in 2023 and 2024, means many workers will need to switch their 401(k) plans from their former employers in 2024. While workplace retirement accounts are transferable by design, workers can be confused about what to do with their 401(k) when switching jobs. Even so, knowing what to do in these situations matt ..read more