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Retirement

Odds Are You Are Going to Retire Hungry and Poor

If your 75 year old self could talk to you today about making retirement saving a priority, what advice do you think you'd hear?

Americans can be in as much current day denial as they want to about their future and what retirement will look like but recent studies show a significant number of people are not at all confident they will be able to retire with adequate income and savings. According to the Employee Benefit Research institute, 49 percent of workers surveyed said ... Read More »

Many Draining Retirement Accounts Rather Than Deal With Debt

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I’m not sure how many times I can say it, don’t drain your retirement assets to pay debt. It’s a bad idea on so many levels. In a couple of posts I even talk about the long term consequences of tapping those funds. See Here’s Why a 401(k) Loan to Pay Off Debt Can Cost You a Massive Amount in ... Read More »

American’s Freaking Out About Having Enough Money to Retire

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A Pew Research study just out paints a disturbing picture of what lies ahead for many in retirement. Let me summarize the results of the report for you, half of people better start enjoying dog food. According to the survey results, about four-in-ten (38%) adults says they not confident they will have enough income in retirement. That’s up from 25% ... Read More »

How to Borrow From a 401k in a Make Sense Way

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Borrowing from a 401k is a major decision. It is important you make certain considerations before borrowing from your 401k, so that your loan doesn’t negatively impact your retirement. The key aspect to borrowing from a 401k vs withdrawing from one, is you won’t have to pay taxes or penalties unless you default on your loan or in some circumstances ... Read More »

Here’s Why a 401(k) Loan to Pay Off Debt Can Cost You a Massive Amount in Retirement

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Over the years I’ve been asked time and time again about if a 401(k) loan is a good idea to take out to pay off debt. I typically say the same thing, in most cases it makes no sense to touch the money in the 401(k) that is protected from creditors if you can qualify for a chapter 7 bankruptcy. ... Read More »

Chances Are You WIll Live Long Enough to Be Broke

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Photo Credit: Rosie O’Beirne I just read that the life expectancy for people in the United States and Canada continues to rise. Seems like a real blessing, doesn’t it. We get to live a longer life. But how are we going to afford medical care and to feed ourselves if life far exceeds our ability to work and earn? Unless ... Read More »

More People Preparing to Eat Dog Food in Retirement

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To make it through tough times more Americans have borrowed, stolen or raided their small retirement funds to make ends meet. Loans from retirement funds jumped 20 percent last year. This really can’t be a big surprise to many. Faced with difficult financial decisions people will tend to gravitate towards the oath that seems easiest and less painful immediately. It’s ... Read More »

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