Karin Munger

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Why You Might Need Less Retirement Income Than You Think

You’ve heard the cliché. It’s not what you earn, it’s what you spend. Usually, it’s invoked during discussions of making ends meet on a paycheck. But a new study shows that it’s key to understanding what you’ll need in retirement too.<p>The research, based on surveys tracking the actual spending of …

How To Minimize Taxes On Your Retirement Income

Nobody likes paying taxes. But what can be a mere annoyance while you’re working can be a major headache when you retire. That’s because taxes are generally the biggest expense in retirement and retirees often need every penny of income to make ends meet while leaving enough of a nest egg to ensure …

Basing Your Retirement Savings On Income Is A Highly Flawed Strategy

In his book "Your Money Ratios," Charles Farrell argues that you should have 12x your annual salary in the bank before retiring. And the New York Times recently suggested that you should have 20x your annual salary stashed away.<p>My view — and one that was recently echoed by my pal Mike Piper — is …

Different retirement ages for different incomes? Here’s why that’s a bad idea

A popular solution to the problem of an aging population is to make people work longer. State pensions, in many developed countries, were conceived when a 30-year-old wasn’t expected to live to age 70. Now people live longer and retire earlier. Many members of the Organization for Economic …

Retirement

Another Retirement Rule of Thumb

Time for another retirement rule of thumb… According to Fidelity investments, you should have saved 8x your annual (final) salary by the time you reach age 67 if you want to replace 85% of your pre-retirement income in retirement.<p>To stay on track for this, you should have saved 1x your income by …

401(k) Auto-Enrollment Is No Cure-All for Our Retirement Woes

One in five retiring in 2013 'will be below poverty line'

Study by Prudential finds many people are facing a bleak financial outlook, with 14% relying solely on state pension<p>One in five people retiring in Britain in 2013 will fall below the income poverty line according to a study by Prudential, which also found that nearly a quarter of women will enter …

Live Long And Prosper: Retirement Planning Strategies For Women

Let’s start with the good news. Women are living longer. A woman who turns 65 today has a 50 percent chance of living to the age of 90—three years longer than the current average life expectancy for a man. While most women probably view living longer as a positive, longevity also presents a …

Why Gen X And Late Boomers Aren't On Track For Retirement

According to a recent study, Gen X and late baby boomers are on track to replace only about half of their current income when they reach retirement — which means they’ll need to seriously downgrade their lifestyles. Most financial planners recommend replacing, at the very least, 70% of one’s income.<p>…

Retirement income almost 40% less than working wage for new pensioners

HMRC data show average UK income falls, from £19,000 in work to state and private pension pot worth just £11,600<p>UK workers can expect to see their incomes plummet by more than a third when they reach retirement, while in some areas of the country the fall is almost to a half, according to new …

SMART INVESTOR: Most Seniors Are In Danger Of Outliving Their Retirement Savings

In an ideal world, retirees would tuck away at least 70% of their pre-retirement income by the time they're ready to leave the workforce.<p>Unfortunately, there's nothing ideal about the savings climate in the U.S. today.<p>A new study by Interest.com found that there are only two states, Hawaii and …

Annuities: retirement income falls by 30%

Annuity rates have plummeted by almost 30% since the Bank of England began a program of quantitative easing (QE) four years ago that was designed to …

'A lot of people don't realise the importance of shopping around for an annuity': How to find a big lift in retirement income

'My operation delivered a bigger pension payout that has us dancing with joy': How you can get a big lift in retirement income<p>By<p>Published: 17:03 EDT, …

Retirement

Insights & Ideas | Charles Schwab

At Charles Schwab, we encourage everyone to take ownership of their financial life by asking questions and demanding transparency.<p>Our <b>Insights & Ideas</b> bring you information that fosters that ownership, because we believe that the best outcomes in life come from being fully engaged.

Charles Schwab

What Retirees Say Retirement Is Really Like

Writing the blog <i>Satisfying Retirement</i> has provided me with a special insight into the expectations and fears of retirees and those about to begin life after full-time work. Recently, I decided to conduct a survey of my readers to find out what retirement is really like, or going to be like, for …

How To Use Spousal RRSPs To Split Retirement Income

Shares 44<p>One of the ways to boost your retirement savings for your household is to use a spousal RRSP to split your retirement income. That way, you …

Retirement

Is $1 Million Enough To Retire?

The New York Times recently published an article headlined "For Retirees, a Million-Dollar Illusion," which questioned whether $1 million in savings is enough to retire on, given today's low interest rates and stock market volatility, the potential for inflation and increased life spans.<p>The article …

How to Lessen the Tax Bite in Retirement

Once you retire, certain expenses will diminish or disappear. You won't spend as much on dry cleaning, for example, and if you're in good shape, you …

3 Retirement Planning Tactics to Adopt Before You Hit 50

Retirement hurts big earners too, study finds

The more money you make before retirement, the more you may have to cut back when you do retire, a new study has found.<p>Because of Social Security benefits, some low-wage earners receive more income when they retire than they did when they were working. By contrast, many high-wage earners see their …

Retirement

As U.S. Retirement Crisis Builds, 10 Other Countries Get Better Marks

Could you live on half your paycheck? That’s the harsh reality for many American retirees and one of the reasons that the United States’ retirement system gets a mere “C” letter grade and a ranking of 11 out of 20 countries studied in the 2013 Melbourne Mercer Global Pension Index released …

Will Low Interest Rates Delay Retirement For Boomers And Gen-Xers?

As retirees and their advisors have learned during this four-year income drought, low interest rates can be devastating to retirement savings. A recent study offers a sobering look at the implications of a continued low interest rate Federal Reserve policy.<p>The Employee Benefit Research Institute …

Women too reliant on men for retirement income, report claims

Women prioritise short-term bills over pensions and are 'too reliant on men for retirement income'<p>By<p>Published: 04:05 EDT, 23 October 2013 | Updated: …

Retirement

4 Strategies To Maximize Income During Retirement

More than seven out of 10 Americans worry about outliving their income during retirement, according to a recent survey by Prudential Retirement. Decades of pension plan conversions to profit-sharing plans, combined with a stock market decline of more than 50% in 2008 and falling real estate values …

The Bad And Good Retirement News For Women

After attending the 2013 Women’s Institute for a Secure Retirement (WISER) Annual Women’s Retirement Symposium in Washington, D.C., I came away both depressed and hopeful.<p>WISER, a nonprofit aiming to improve women’s retirement-income opportunities and spread the word about the retirement inequities …

7 Expenses That Vanish During Retirement

How much money will you need in retirement? It’s one of the toughest estimates to make in retirement planning. It’s so difficult, in fact, that many people use a rule of thumb, such as 70 percent of pre-retirement income, rather than even trying to guess.<p>For those who love a challenge, however, …

REPORT: The SEC Is Checking To See If Any Funds Are In Danger Of Blowing Up If Puerto Rico Goes Down

Puerto Rico is facing a credit crisis. Its bonds having declined more than 19% in value in 2013, Bloomberg's Michelle Kaske says. Although, S&P just reaffirmed its rating of BBB-.<p>The island's economy has failed to fully recover from the financial crisis, and yields on 10-years now stand at nearly …

Financial Advisor Resources

International Growth Fund<p>While the world has changed drastically over the past two decades, Oppenheimer International Growth Fund’s investment …