Lifestyle Planning

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

By Walter Updegrave, RealDealRetirement @RealDealRetire

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»

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3 Ways To Avoid A Drop In Your Standard of Living In Retirement

By Walter Updegrave, RealDealRetirement @RealDealRetire

The main goal of retirement planning is to be able to maintain roughly the same standard of living after your career as during it. But achieving that goal can a challenge. For example, the latest Transamerica Retirement Survey of Workers found that 40% of baby boomers expect their standard of living will fall during retirement, 83% of Generation Xers believe they’ll have a harder time achieving financial security than their parents and only 18% of Millennials say they’re very confident about their retirement prospects. So how can you avoid having to ratchet down your lifestyle after calling it a career? Here are three ways: More»

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What Size Nest Egg Do I Need For A Secure Retirement?

By Walter Updegrave, RealDealRetirement @RealDealRetire

Ask Real Deal Retirement

My husband and I are retired, but aren’t sure whether we have enough in savings to see us through retirement. Is there a specific amount we should have? How can we tell how much is enough? More»

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Don’t Let “Spendaphobia” Spoil Your Retirement

By Walter Updegrave, RealDealRetirement @RealDealRetire

Much of the advice on managing finances in retirement focuses controlling spending to ensure that assets last a lifetime. And that certainly makes sense, especially for people who are short on savings. But many retirees face a different problem: They have sufficient resources to support themselves, but are so loath to draw on their nest egg that it continues to grow throughout retirement. That may be just fine for their no doubt deserving heirs. But it can prevent them from enjoying their post-career life as much as they could. Here’s how to stop “Spendaphobia” from undermining the retirement you’ve worked and saved so hard to attain. More»

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3 Ways To Be Sure You’re Getting the Most Out Of A Longer, Healthier Retirement

By Walter Updegrave, RealDealRetirement @RealDealRetire

The good news: A recent Harvard study found that life expectancy for 65-year-olds has increased by almost a year and a half since the early 1990s. The even better news: The researchers also found that today’s 65-year-olds are likely to spend nearly two more years of their remaining lives free of disabilities compared with their early 1990s counterparts due to improved treatments for heart disease, vision problems and other debilitating conditions that can erode quality of life. So how can you position yourself to get the most out of a longer, healthier retirement? Here are three steps you should take: More»

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How To Prevent Involuntary Retirement From Ruining Your Golden Years

By Walter Updegrave, RealDealRetirement @RealDealRetire

Involuntary retirement—or the possibility that you may be forced to exit the workforce sooner than you wanted—is a more common problem than you may think, and one that can wreak significant havoc with your post-career lifestyle. Some 46% of retirees polled for the Employee Benefit Research Institute’s 2016 Retirement Confidence Survey said they left their jobs before they’d planned, usually because of a health issue or company downsizing or restructuring. And a new study by researchers at Cal State Fullerton, George Mason University and Utah State found that many workers end up retiring four to seven years earlier than they’d anticipated, potentially leaving them with a stunted nest egg that must sustain them through a longer-than-expected retirement. You may not be able to totally insulate yourself from this risk, but here are three steps you can take to reduce the possible damage: More»