Saving for Retirement

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A Geezer Journalist’s Financial Advice For College Grads

By Walter Updegrave, RealDealRetirement @RealDealRetire

[Editor’s note: This column originally appeared a year ago. The advice still applies today, so I’ve re-published it for 2018 grads. Enjoy!]

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»

OpenWallet

How Can I Tell If I’ll Have Enough Saved To Cover My Spending In Retirement?

By Walter Updegrave, RealDealRetirement @RealDealRetire

Ask Real Deal Retirement

Most retirement projections seem to be based on how much income you’ll need in retirement. But shouldn’t my planning be based on how much I’ll actually spend after I retire? How do I figure out what my spending might be and whether I’ll be able to meet my spending needs? More»

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The 2 Moves You Need To Make Now To Improve Your Retirement Prospects

By Walter Updegrave, RealDealRetirement @RealDealRetire

In case you missed the memo, let me to be the first to alert you: This is National Retirement Planning Week. Okay, maybe you’re not the kind of person who’ll mark this august occasion by taking to the streets carrying pro-401(k) banners while chanting slogans touting the virtues of target-date retirement funds. But given the stock market’s recent erratic behavior and concerns about the impact a trade war could have on the economy, you may at least want to set aside some time to see where your retirement plans stand and how well they might hold up if the prospects for the market and the economy turn south. Here are two steps you can take toward that end:  More»

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Late Start On Retirement? Here’s How To Catch Up

By Walter Updegrave, RealDealRetirement @RealDealRetire

Ask Real Deal Retirement

I’m in my early 50s and just beginning to plan for retirement. I recently opened an IRA, but what else can I do to catch up? More»

Nest Eggs

Want A Bigger Nest Egg? Get Your Investments To Do More of Your Savings For You

By Walter Updegrave, RealDealRetirement @RealDealRetire

You can think of your nest egg as having two main components: ongoing contributions to your retirement accounts and the investment returns you earn on those contributions. Not surprisingly, your contributions (and those of your employer, if you receive matching funds) initially dwarf what your investments earn. But if you save regularly and invest sensibly, you should eventually hit a crossover point at which your investment gains exceed contributions to your accounts. You’ll then be in the sweet position of watching your investments effectively do the bulk of your savings for you. More»

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4 Signs Your Retirement Strategy May Need A Reset

By Walter Updegrave, RealDealRetirement @RealDealRetire

Half of Americans are not on track to generate enough post-career income to cover their essential expenses in retirement, according to a recent survey of nearly 3,200 working adults by Fidelity Investments. Of course, that also means that the other half is mostly on track. Question is, do know whether you’re on the right side of this 50-50 divide? Before you answer, I suggest you check out the five red flags below, each of which could be a caveat that you need to review your retirement planning. More»