According to leading psychologists, it's important to start planning for the transition to retirement three to five years ahead of your retirement date. You can set yourself up for retirement success by considering these five factors:
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Mailbag: What Will Happen to Pensions If Hyperinflation Hits the Dollar?
Hi Len, I've been reading your blog for close to a year now and love it! Do you think traditional pension payments will increase in some way during hyperinflation? While anything can certainly happen in the financial chaos, it seems there would be ...
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Roth IRA Loophole: The Backdoor IRA Hack
If you're looking to beef up your retirement savings, then you'll want to check out this Roth IRA loophole right now.
Roth IRAs have been around since the introduction of the Taxpayer Relief act in 1997, and are considered to be a smart tool for ...
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The Pros and Cons of Taking Social Security Early
Nobody knows exactly how long Social Security will last, but for the time being you're still entitled to what the government has stashed on your behalf over the course of your life. So at least for now, the dilemma is not if you'll receive the payout ...
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The Young Professional’s Guide to Retirement
As a young professional, retirement may seem like it's something that will happen to you in the far-off future. When you're getting started with your career, it can be hard to imagine what life might look like when you stop working. But rest assured, ...
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Your 401k: How to Manage It, How to Roll it Over, How to Make the Most of It
The 401k -- everyone has heard of it, and most of us have one, but do you realize how important your 401k actually is?
When the government first introduced this pre-tax investment plan, it was merely meant to be an extra way to subsidize your ...
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5 Investment Strategies To Help You Save For Retirement
Although you're still of good working age, you should already be preparing for your retirement. However, this topic is often brushed off by most people since they don't know how to start planning for it and what investment strategies will lead to a ...
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22 Smart Money Tips Everyone Can Learn by Playing Doctor
So ... Who wants to play "doctor"?
I know what you're thinking, but you can relax. I promise nobody will end up in the principal's office after we're finished here. That's because this version only focuses on taking a peek at our ... personal ...
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3 Ways To Quickly Bulk Up Your Retirement Savings
It's no secret that building up a retirement savings account is key to sustaining a high quality of life during your golden years. Sure, it's essential to have money for the bare necessities now -- as well as the not-so-bare necessities -- but don't ...
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9 Important Strategies to Help You Manage Financial Risks
Internationally-known daredevil Karl Wallenda earned his fame by performing acrobatic acts high above the ground -- without a safety net.
For years, Wallenda had performed his dangerous stunts countless times without incident, but on March 22, 1978, ...
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6 Basic Steps to Help You Achieve Financial Freedom
Financial freedom can be a difficult term to define, but at a very basic level it simply means controlling your own finances entirely.
In order to gain financial freedom, you not only have to be free of debt, but also be able to provide for yourself ...
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5 Ideas for Tackling Debt If You Retire with a Mortgage
According to the Employee Benefit Research Institute, outstanding mortgage balances among the elderly have risen by 142% in the last 20 years. Even if you're not yet elderly and thinking about retiring, this is alarming news. If you're considering ...
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5 Ways to Ring in the New Year by Cleaning Out Your Financial Garage
It's amazing how much stuff piles up in a family garage over the years. The stacks get higher every year because, presumably, the items within them hold value. It becomes harder to throw anything away.
While ignoring all those old bicycles, ...
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4 Rules for Cashing Out Your 401k When You’re In a Financial Pickle
There may be times in life that you'll fall into financial hardship, and it's wise to plan ahead for the inevitable. An emergency fund -- that is, a generous amount of cash in your savings or another account -- is ideal for dealing with these ...
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Save More for Retirement: 5 Easy Steps to Greater Financial Security
Few people enjoy penny-pinching, but it's easy to cut back on wasteful spending that costs most us hundreds, if not thousands, per year. And it's unlikely to negatively impact your happiness, or your quality of life. In fact, it's quite the opposite: ...
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How to Prepare for Retirement Medical Costs in 4 Easy Steps
How much should a person save for healthcare and medical expenses in retirement? To give you an idea, a 65-year-old couple retiring in 2020 could expect to spend nearly $300,000 throughout their retirement on these expenses alone. This does not ...
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5 Ways to Avoid Outspending Your Income in Retirement
Everyone looks forward to their golden years as a wonderful time of relaxation and enjoyment. It's a time to revel in the fruits of your labor, or volunteer if you feel like it. The last thing you want to do is to outspend or outlive your income in ...
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How to Manage Your Personal Finances When In the Military
Life in the military brings a huge host of benefits. Chief among them is a stable income -- even in a bad economy. There are a lot of financial perks that you can take advantage of while in the military, but it also requires some discipline on your ...
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Power to the Pinched! The Personal Finance Anarchist Cookbook
Once upon a time, no self-serving radical activist would be caught dead without The Anarchist Cookbook and its misguided recipes for making homemade bombs, tear gas, and other sinister items out of everyday household products.
Of course, that got ...
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Is Early Retirement Worth It? How to Know If You Really Should
Who doesn't dream of having the freedom to retire well before you hit your twilight years? After all, the dream is a good one; you work very hard while you're young and able, and then, while you are still youngish, you quit your job and enjoy an ...
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