Saving for Retirement

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How Cutting Investment Fees Can Improve Your Retirement

By Walter Updegrave, RealDealRetirement @RealDealRetire

A new Morningstar study shows that investors are paying less in annual mutual fund fees than ever before, in large part because they’re increasingly moving to low-cost index funds and ETFs. That alone is cause for celebration. But what’s even better news if you’re investing for retirement is that shelling out less in fees can improve your odds of accumulating a nest egg large enough to maintain your standard of living throughout your post-career life. More»

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4 Questions You Must Answer Before Pulling The Trigger On Retirement

By Walter Updegrave, RealDealRetirement @RealDealRetire

Ask Real Deal Retirement

I plan to retire in five years, but want to be sure I’ll be prepared. What practical guidance can you offer me?

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A Geezer Journalist’s Financial Advice For New College Grads

By Walter Updegrave, RealDealRetirement @RealDealRetire

It’s that time of year again, when politicians, activists, business honchos and other luminaries don cap and gown to dispense sage advice to newly minted college grads in the time-honored form of commencement speeches. Somehow I didn’t receive a request to speak. Maybe my less-than-cum laude record as a student at Penn more than 40 years ago scared schools off. But I’ve never been one to let the mere lack of an invitation stop me from weighing in. So here, from someone who’s spent the bulk of his career writing about personal finance, are five tips and observations designed to help recent grads get onto the right financial path. More»

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4 Things You Need To Do If You Want To Retire Early

By Walter Updegrave, RealDealRetirement @RealDealRetire

Ask Real Deal Retirement

I’m 48 years old and would like to retire by the time I’m 55. What do I need to do make that happen? More»

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Late In Your Career And Light On Savings? Here Are 4 Ways To Improve Your Retirement Prospects

By Walter Updegrave, RealDealRetirement @RealDealRetire

A recent study by the Insured Retirement Institute found that fewer than one in four baby boomers believe they’ll have enough money to support them through retirement. That’s not surprising when you consider the gap between how much people have saved and what they think they’ll need. For example, 80% of the workers polled for the Employee Benefit Research Institute’s 2017 Retirement Confidence Survey who attempted to calculate how large a nest egg they’ll need estimated they’d require $250,000 or more in savings to live comfortably. Yet Vanguard’s latest How America Saves report puts the median 401(k) balance for 55-to-64-year-olds at less than $72,000. So what can you do if you’re getting towards the end of your career and your nest egg is well shy of what it should be to maintain your standard of living? Here are four moves that can help: More»

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The 5 Things You Need To Know To Be Financially Astute

By Walter Updegrave, RealDealRetirement @RealDealRetire

In case you forgot to mark your calendar, April is Financial Literacy Month, that time of year when you’re supposed to assess how much (or how little) you know about money and finances. If you want to gauge your financial acumen, there are all sorts of tests out there to help you do so, ranging from this six-question Financial Literacy quiz from FINRA to the National Financial Education Council’s 30-question National Financial Capability Test. But while having a grasp of how compound interest and inflation work and knowing how lenders calculate loan payments and make credit decisions can help you make sounder choices with your money, I’d argue that understanding these five big-picture principles is even more crucial to reaching your financial goals. More»