Allan Henriques, CEO Smart Investor

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Will Millennials ever be able to retire?

<i>I'm in my late 20s and earn a modest salary. It's hard to save, so I don't see how I'll ever be able to retire. Is there a way to prepare for retirement if you don't earn a big salary? Or am I just going to have to work until I die? --Mike, North Carolina</i><p>Planning and saving for retirement is a …

Retirement

Same but Different

How epigenetics can blur the line between nature and nurture.<p>On October 6, 1942, my mother was born twice in Delhi. Bulu, her identical twin, came first, placid and beautiful. My mother, Tulu, emerged several minutes later, squirming and squalling. The midwife must have known enough about infants …

Genetics

A couple who retired in their 30s with 'multi-millions' explain how much they had to save

"At that time we had this epiphany that the path we were on wasn't going to be a long-term path to happiness," Jacobson told Farnoosh Torabi on her personal-finance podcast, "So Money."<p>They changed their lifestyle immediately in order to accelerate their retirement track.<p>Exactly 10 years and one …

Personal Finance

The Very Big Thing That's Missing from the President's New 401(K) Proposals

It's not the cost of 401(K) that are the real problem.<p>Carl's company (a real client of mine with names changed) designs custom furniture. He has about 25 employees. It's a family business that he took over from his dad more than twenty years ago. Carl has a 401(K) retirement plan for his employees. …

4 Simple Steps to Making Your Money Last Through Retirement

Forget about that arbitrary number you've got in your head. Attaining financial security for retirement is all about doing the math, says finance expert Jane Bryant Quinn.<p><i>In the book</i> How to Make Your Money Last: The Indispensable Retirement Guide <i>(Simon and Schuster, 2016), bestselling author and</i> …

Forbes Welcome

Obama Wants to Help More Small Businesses Offer 401(k) Plans

He also wants to make them more portable.<p>On Tuesday, the Obama administration announced plans to make it easier for small businesses to provide …

One more nail in the coffin for using income-replacement rates for retirement planning

The income replacement rate (that being income immediately following retirement divided by income immediately preceding retirement) has become widely …

Saving for retirement? Here’s what you need to do in 2016

With the stock markets notching their worst-ever start for a new year, what should folks saving for retirement and those living in retirement do in …

Forget Downsizing In Retirement

Maybe a bigger house is better in retirement. When Marian Watkins, who is single, retired from the Air Force in 1998, she moved into a townhome community in Lansdale, Pa., went back to school for a doctorate in educational leadership and became a teacher. Then when she retired from her second …

Easing The Financial Impact Of Divorce In Retirement

Divorces are skyrocketing for people in their 50s and 60s. Between 1990 and 2012, the number of divorces among people 55 to 64 more than doubled and tripled for those 65 and older, according to a study by Susan Brown, I-Fen Lin and Krista Payne of Bowling Green State University.<p>On top of the …

U.S. Retirees Are A Lot Less Dependent On Social Security Than You Think

One of the arguments against reducing Social Security benefits, and in favor of expanding them, is that Americans rely heavily on Social Security to support themselves in retirement. It’s one thing if low earners rely on Social Security in old age. But if even middle and upper income households get …

Some People Just Shouldn't Save For Retirement

The <i>New York Times</i> recently editorialized in favor of expanding Social Security, supporting a movement that’s gone from a few progressive activists to becoming a major part of presidential candidate Sen. Bernie Sanders’ agenda. Advocates for Social Security expansion emphasize how poor a job …

The 4 worst cities to retire

There may be something of a retirement crisis in America. Due to a strained economy, high education costs, and fewer companies offering retirement accounts to employees, workers are expecting to retire later than they used to. But, for at least a decade, folks have tended to leave their working …

Retirement

How easy is it to become a 401(k) millionaire? Here’s the truth

Fidelity Investments wants you to believe that saving $1 million in your 401(k) is easier than it looks. It ain’t.<p>Last week, Fidelity, one of the …

Americans Get A Grade C In Retirement Readiness

How do you stack up to your peers when it comes to being on track with retirement savings? Fidelity released a new online calculator today that lets you gauge your retirement readiness with a letter grade—and compare your score to others who earn the same amount. So instead of just comparing how …

Can Your Retirement Strategy Survive a Market Crash?

Time to review your strategy to figure out what, if any, moves you should make.<p>Nobody knows whether the recent stock sell-off triggered by fears of …

This Is a Huge Financial Threat to Your Retirement Security

Many workers saving in 401(k)s and IRAs end up in high-cost funds that erode their returns.<p>Fees matter. We’ve known for years that even a slight …

Millennials Are Outpacing Everyone Else in Retirement Savings

Remember all the times your parents harped on you to save more for your nest egg and spend less on a night out in college, Millennials? You can tell …

These Are the Best Retirement Withdrawal Strategies

Your withdrawal strategy makes a huge difference in how much money you'll have in retirement.<p>Many retirees will use <i>systematic withdrawals</i> from an …

Retirees: 3 Tips To Unscramble Your Retirement Nest Egg

Baby Boomers, you profess that your number one goal is a secure retirement, yet your actions belie your words. According to the recently released Global Investor Pulse Survey from BlackRock, “Saving to live comfortably in retirement was cited as the most important financial priority by Americans… …

Ignore Those 2016 Forecasts and Make These Smart Investing Moves Instead

Investing pundits are usually wrong, but these strategies can keep your portfolio on track.<p>Over the past few weeks investors have been inundated by a …

Are Your 20s Too Young To Plan For Retirement?

There are a bunch of stereotypes out there that millennials consider themselves young and invincible.<p>Nevertheless, as we discussed briefly in a previous column, modern millennials are making progress in dismantling that particular stereotype. It turns out that, when it comes to buying healthcare at …

As Trillions Move Into IRAs And 401ks, High Fees Bite Retirement Security

A new study covering investment returns from 1990 to 2012 finds that 401(k)s and other defined contribution plans underperformed traditional defined benefit pension plans by an average of 0.70% a year, even <i>after</i> <i>differences in asset allocation were taken into account.</i> The likely explanation? The …

Here’s what retirement looks like for 6 couples around the world

We spoke to six couples around the world about what they most look forward to in retirement and how they plan to get there.

San Francisco

Money Moves For Women Who Become Single In Retirement

By Kimberly Foss, Next Avenue Contributor<p>On average, women outlive men by about five years, according to the Centers for Disease Control and Prevention. And the Social Security Administration reports that women who reach age 65 can expect to live, on average, 21 more years. Overlay on that the …

Feeling Alive In Retirement

Dr. Sams walked into my office and as I gestured to shake his hand he said, “Sorry – can’t do it, I don’t want to get you dirty.”<p>Being curious as to what he was doing, I asked what he was up to and he shared, “I met some friends this morning for a bike-ride and was doing a little maintenance …

How much you should have saved for retirement right now

How much should you have saved for retirement? There's actually a simple answer to that. You'll need to start with a bunch of basic assumptions, but all you really need to know is your income and your age.<p>Let's take a look at hypothetical Joe, who is hired straight out of college. By the time he's …

Retirement

How much do I really need to save for retirement?

<i>I always thought 10% of salary was the amount you need to save for retirement. I save more than that, but a retirement calculator told me I'm not saving enough. Am I on track or is retirement just an impossible dream --Jessica, Texas</i><p>I wish I could give you a simple-but-accurate rule of thumb that …