Don’t Have A Pension? Here’s How To Build One On Your Own

Pension

By Walter Updegrave, RealDealRetirement, @RealDealRetire

Ask Real Deal Retirement

I had a choice to take my pension as a lump sum or lifetime annuity payments and I opted for the lump sum. Now I feel like it was the dumbest decision of my life. I think I’m looking at a long retirement, and I’m just not very confident about investing in today’s market. Any advice for what I should do now?

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More Than 40% of Americans Are Wrong About Their Retirement Preparedness. Are You One Of Them?

By Walter Updegrave, RealDealRetirement @RealDealRetire

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A new study by the Center for Retirement Research at Boston College (CRRBC) says that more than half of working-age Americans are at risk of seeing their standard of living drop in retirement. No shocker there. Many surveys and studies show that many, if not most, workers are well behind when it comes to preparing for retirement. What is surprising, though, is the number of people the researchers identified who believe they’re on track to a secure retirement but aren’t and, conversely, how many are worried they’re falling short but are actually doing fine. More»

What Size Nest Egg Do I Need To Support Myself For A Long Retirement?

By Walter Updegrave, RealDealRetirement @RealDealRetire

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Ask Real Deal Retirement

How large a retirement nest egg do I need if I want to draw $60,000 a year from it and have my money last 30 years?

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How To Figure Out How Much Can You Safely Withdraw From Your Savings In Retirement

By Walter Updegrave, RealDealRetirement @RealDealRetire

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It’s one of most important questions you face when you retire: How much can you withdraw from savings each year without running out of money too soon yet not spend so cautiously you feel you’re skimping on retirement. Unfortunately, it’s also a daunting query that many retirees have a hard time answering. Here’s what you need to know to manage withdrawals from your nest egg. More»

Vanguard (Yes, Vanguard!) Says Investors Can Beat The Market—But Should You Even Try?

By Walter Updegrave, RealDealRetirement @RealDealRetire

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While surfing the web the other day I came across an article on Vanguard’s website titled “Beat the Market Long-Term? Yes, It Can Be Done.” At first I thought I must have stumbled into some bizarre reverse universe, an upside-down world where everything you thought you knew has been turned on its head. After all, this was Vanguard, the Emperor of Index Funds, saying that investors can identify in advance actively managed funds that can outperform their benchmarks over long periods, and then suggesting ways to improve one’s chances of identifying the funds that can pull off this feat. But can individual investors apply this advice in hopes of selecting funds that can beat the market? I’m dubious. More»

Is An Annuity The Right Way To Get The Retirement Income I Need?

By Walter Updegrave, RealDealRetirement @RealDealRetire

Annuity

Ask Real Deal Retirement

I have $400,000 in savings from which I need to draw monthly retirement income. Is it possible to do that with an immediate annuity?

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Think You’re Ready To Retire? Better Ask Yourself These 3 Questions First

By Walter Updegrave, RealDealRetirement @RealDealRetire

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When researchers for a recent IPSOS/USA Today survey asked 45-to-65-year olds how prepared they felt for retirement 59% responded that they felt very or somewhat prepared. The same percentage said they expected to rely mostly or entirely on their own savings to fund their post-career life. Asked how much savings they had, however, only about a third had set aside even $250,000, while another third had saved less than $100,000. All of which suggests some people could be in for a rude awakening come retirement time. To get a better handle on whether you’re really on track when it comes to retirement, ask yourself these three key questions. More»