It's easy to assume that if you're, say, 20 or 25 years away from retiring, you needn't do much about it now, other than socking away some money. But if you'd like at least to not run out of money in retirement and ideally to have a very comfortable and enjoyable retirement, you should be making smart moves throughout your life.Here are 11 smart retirement moves you can make now and this year -- most of which are effective no matter how old you are now.Image source: Getty Images.1. Have an emergency fundIf you aren't prepared to support yourself in case you are laid off or fall ill or if you wouldn't be able to pay a $1,000 unexpected car repair bill, you need an emergency fund. We all need a plan for how we'll get by if life takes a nasty turn. Draining your retirement account is a bad plan, so stock an emergency fund with about six to 12 months' worth of living expenses, including rent or mortgage payments, food, utilities, transportation, taxes, insurance, and so on.2. Get out of … [Read more...] about 11 Smart Retirement Moves You Can Make Right Now
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We're going to miss those guns Ashley Boucher, provided by Published 10:11 am, Tuesday, March 6, 2018 Image 1of/1 CaptionClose Image 1 of 1 NFL Referee Ed Hochuli – And His Biceps – To Retire 1 / 1 Back to Gallery Longtime NFL referee Ed Hochuli will retire, NFL Senior Vice President of Officiating Al Riveron said Tuesday. Retiring with Hochuli is Jeff Triplette, who has been with the league since 1996. Former back judge Shawn Hochuli — yes, that’s Ed’s son — and former side judge Alex Kemp will replace the longtime refs. Congratulations to our 2 newest @NFL referees, former BJ Shawn Hochuli & former SJ Alex Kemp. Best wishes to our 2 retiring referees, Ed Hochuli & Jeff Triplette. pic.twitter.com/iEv6xOprkf — Al Riveron (@alriveron) March 6, 2018 Recommended Video: Now Playing: Hundreds of Zimbabweans gathered outside the military terminal of Harare airport on … [Read more...] about NFL Referee Ed Hochuli – And His Biceps – To Retire
Countless workers look forward to retirement and the change of pace it tends to bring about. But from a female perspective, that outlook is pretty bleak. That's because only 25% of women expect that life will be better in retirement than during their working years. That's the latest from a Nationwide survey, which also found that 26% of women think life will be worse in retirement. Talk about discouraging.Why aren't more women excited about retirement?Though women certainly aren't the only ones stressed about retirement, in some regards, they have more to worry about. That's because women typically earn lower salaries than men, and as such, they tend to have less money once retirement rolls around.Image source: Getty Images.Not only that, but older women today are in worse shape financially than ever before. For one thing, debt has doubled for 50-something women since the early 1990s. Just as problematic is the fact that twice as many 50-something females have less than $25,000 set … [Read more...] about Only 1 in 4 Women Thinks Life Will Be Better in Retirement
Though your Social Security benefits are determined based on what you earned during your career, the age at which you first claim them can affect your ultimate payout. In fact, eligible recipients actually get an eight-year window to file for benefits that begins at age 62 and ends at age 70. (Technically, you don't have to enroll at 70, but there's no financial incentive not to.) Smack in the middle of that window is what's known as your full retirement age, or FRA, which is the age at which you're entitled to your full monthly benefit payments without a reduction. There's just one problem: Most Americans don't know their full retirement age. If you're one of them, here's a quick breakdown: Year of Birth Full Retirement Age 1943-1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66 and 10 months 1960 67 DATA SOURCE: SOCIAL SECURITY ADMINISTRATION. Of course, you're not … [Read more...] about Should You File for Social Security at Full Retirement Age?
You work hard to save for retirement, stashing away as much as you can and diligently staying on track to meet your goals. As hard as you try, though, there's still one thing that may be standing between you and a comfortable retirement: debt. Two-thirds of Americans aged 65 to 74 hold some type of debt, and median household debt for people aged 65 and up has doubled from 2001 to 2011, according to a study from the Global Financial Literacy Excellence Center. Image source: Getty Images. Debt is not necessarily a bad thing. It's nearly impossible to go through life without taking on some type of debt, whether it's in the form of mortgages, student loans, car loans, or credit card debt. But if you're nearing retirement age and are still putting hundreds (or thousands) of dollars each month toward repaying debt, it could potentially sabotage your retirement plans. Facing debt during retirement: More harmful than you may think If you've been paying off some form of debt for … [Read more...] about How Your Debt Could Sabotage Your Retirement Plan