Retirement News, Information and Guidance

reverse mortgage lending limits

2020 Reverse Mortgage Lending Limits Increase: More Money for Some Borrowers

The maximum reverse mortgage lending limit is increasing for 2020, allowing retirees with substantial home equity to get more money than was available in previous years. Reverse mortgage lending limits raised to an all time high. A reverse mortgage enables homeowners age 62 and older to access their home equity in the form of a…

how much does long term care insurance cost

How Much Does Long Term Care Insurance Cost? Is it Worth It?

Insurance can be a fantastic way to protect your assets from big unforeseen costs. Long term care insurance can, in theory, be a cost effective way to cover a long term care need. However, it can also be expensive and not best for everyone. So, let us explore: How much does long term care insurance…

year end tax advice for retirement

Don’t Forget RMDs and 7 More Year End Tax Tips for Retirees

Below are key end of year tax strategies to help you keep more money. YEAR END TAX ADVICE #1: Over 72? Don’t Overlook Required Minimum Distributions (RMDs)! This is perhaps the easiest piece of year end tax advice for retirees: Don’t forget to take your RMDs! However, Fidelity Investments reports that the majority — 61%…

retirement year end checklist

Your Year End Retirement Checklist: 15 Tips to Get Ready for a Great 2020 and Beyond

Feeling frazzled by holiday fanfare? Do you also have nagging worries about your retirement plans? One of the best ways to control stress of any kind is to make a list and check it twice. And we have done that for you. Here is a handy yearly retirement checklist — 15 things you should do…

retirement stories

Retirement Stories: Why Your Home Won’t Be Worth What You Think, Last Minute Gift Ideas and More News

Here is the most recent round up of retirement related stories from around the internet: the latest wild, wacky, profound, exciting or heartwarming news about retirement and aging. In 10 Years Will Your Home Be Worth What It Is Now? A recent article in the Wall Street Journal reported that by 2037, one quarter of…

retirement gifts

Retirement Gifts: Find Thoughtful and Funny Retirement Gift Ideas

There are so many great retirement gift ideas. Browse this list for meaningful, funny and thoughtful retirement gifts. Retirement is a Big Deal… So, Find the Best Retirement Gift Of all the life transitions that merit gifts — graduation, marriage and the birth of a baby — retirement might be the most significant change and…

Family and Money: Tips for Discussing Finances With Your Loved Ones

The holidays are upon us. Thanksgiving, Christmas, New Years and the all of the other seasonal celebrations mean family gatherings. While the focus should be on love, catching up, food and celebrating, holidays may be the only time to have face to face time with your children, parents or siblings. And, it may be a…

Podcast: Rob Berger — Retire Before Mom and Dad

Episode 33 of the NewRetirement podcast is an interview with Rob Berger — author of Retire Before Mom and Dad: The Simple Numbers Behind A Lifetime of Financial Freedom — and discusses key aspects of retirement finance, especially fee ratios and financial literacy. Rob Berger is a lawyer by trade and personal finance expert who…

lockbox strategy

The Lockbox Strategy and 10 Other Retirement Income Tips from Nobel Laureate, William Sharpe

William Sharpe is a Nobel Prize winning economist and the professor of finance, emeritus, at Stanford University’s Graduate School of Business. His Nobel was awarded for developing the Capital Asset Pricing Model (CAPM). He is also well known for the Sharpe Ratio, a number designed to summarize the desirability of an overall investment strategy. However,…

retirement stories

Retirement Stories: The Latest, Wild, Wacky, Profound and Heartwarming News About Retirement and Aging

We are starting a running list of retirement related stories from around the internet: the latest, wild, wacky, profound, exciting or heartwarming news about retirement and aging. Do you have a retirement story you think belongs here? Email us! Aging is… Optional? David Sinclair is a Harvard professor who made Time Magazine’s list of of…

Retired, Abruptly: Here Are the Lessons I Learned

This piece comes from Scott Allen who is now five years into enjoying his retirement and pursuing more active work and service opportunities. My retirement did not go according to plan.“Involuntarily separated from the organization” was the official, legal term for my then, current, employment situation. “Smoked, like a Hormel canned ham” was how my…

Tax, Medicare and Social Security Updates — November 2019

  We just rolled out several significant retirement planner updates and recommend that you review your plan to see how the improved modeling impacts your forecast. Explore potential opportunities before year end. The improvements described below will allow you to explore ways to potentially save money on Federal & State taxes through strategies like Roth…

17 Best TED Talks on Retirement and Aging to Help You Have a Better Future

You want to have a better retirement. But how do you get there? You could spend hours researching the latest science behind happiness, personal finance and investment theory, and health research. Or you can take a few minutes to watch the best TED Talks related to retirement. With their engaging speakers and easy-to-digest format, even…

money personality type

What is Your Money Personality Type? How Will It Impact Your Retirement?

Your money personality type can impact your retirement security. However, knowing your money personality type can help you avoid pitfalls and use your strengths to your advantage as you approach retirement. What is a Money Personality Type? How Do You Get It? Your money personality type is comprised of your attitudes and habits around money….

best places to retire in the world

The Best Places to Retire in the World: Explore Unexpected Locations!

You might be surprised by some of the best places to retire in the world. A growing number of American retirees are moving to extremely far flung locations. They find that retiring overseas can be more affordable and more fun than staying in the U.S. When evaluating life in another country, you’ll want to consider…

how to retire early

How To Retire Early: 19 Tips from People Who Really Know!

Do you want to know how to retire early? How about how to retire early at 55? How to retire early at 60? What about how to retire early at 45 or earlier? It IS possible. Don’t believe me? Get advice from three guys who really know: 1. Chris Mamula writes for Can I Retire Yet….

Social Security and Medicare: Changes Coming for 2020

To say that Social Security and Medicare are important to the financial well being of seniors would be an understatement. Sixty two percent of eligible beneficiaries rely on Social Security income for more than half of their income. And, almost everyone who is eligible uses Medicare to help fund their healthcare after 65. So, any…

8 Resources for Reliable Retirement Information

Can you retire without consulting a financial advisor or some kind of retirement professional? Of course. The question is, do you have good resources for reliable retirement information? More importantly, can you retire AND have a secure future without talking with a retirement professional? The answer to this question might be a little more complicated….

Podcast: FIRE Reunion — Insights From Year 1 of Early Retirement

Episode 32 of the NewRetirement podcast is an interview with former guests Karsten Jeske, Chris Mamula, and Fritz Gilbert — F.I.R.E. experts — and discusses insights and epiphanies from the first year after retiring early. This is the first time The NewRetirement Podcast has had a reunion episode, and as such, listeners are advised to…

new retirement

What Are the NEW Retirement Rules? 12 Guidelines for Your Financial Security

Americans have changed a lot over the last 100 years – we live longer and have more active lives and our society and financial structures have evolved (and, in some cases perhaps, devolved). However, many of our ideas about retirement and retirement planning come from previous generations. These ideas are ill-suited to today’s realities. So,…

social security strategy

Social Security Strategies: 15 Easy Tips for Making the Best Decisions

Signing up to start Social Security is simple. However, finding the right Social Security strategy for you can be complicated but VERY worthwhile. Here are 15 tips for making the best Social Security decision: Social Security Strategies For Almost Everyone 1. Delay the Start of Benefits for As Long As Possible This Social Security strategy…

Aging Well: Walk Away from Aging and 7 Other New Health Tips for Seniors

Aging well is key to your quality of life in retirement. Here are 8 new health tips for seniors. We think you will find this health news really useful or interesting. Walk Away from Dementia, Literally Many recent studies have found that exercise — even just simply walking — is the best way to avoid…

retirement travel

20 Great Retirement Travel Ideas: Make the Most Popular Retirement Pursuit Your Reality

According to surveys of NewRetirement users, travel after retirement is clearly the most popular and desired pursuit for this phase of life.  From day trips by car to round the world journeys, retirees have wanderlust! What are your retirement travel plans? A full 75% of users of NewRetirement’s award winning Retirement Planner mention travel as…

Podcast: Joe Casey — Retirement Wisdom

Episode 31 of the NewRetirement podcast is an interview with Joe Casey — founder of Retirement Wisdom. We discuss shaping your life after retirement, and what reflection needs to be put in to be successful. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher And, join our private Facebook Group…

retirement survival pack

Retirement Survival Pack: Don’t Leave Work Without It!

Retirement can be hard. Sure, some people slide right into it with no problem at all.  Others are bored at best and depressed at worst. It is not the financial pressure that is usually the problem. Issues usually come from the fact that work often provides the emotional, mental and social stimuli that you need…

Is Age Discrimination a Threat to Your Retirement Plan?

The growing population of older Americans, and a lower propensity for retiring early, seems to create a bit of a problem for some employers. Although discrimination against older workers is fully against the law under the Age Discrimination in Employment Act, that doesn’t mean it doesn’t happen. Workplace age discrimination affects the best and brightest…

2018 Medicare Open Enrolllment

Medicare Open Enrollment for 2020: 10 Tips for Getting Great Coverage

Tis the season… No, it is not quite time to decide whether you’ll say Happy Holidays, Merry Christmas, Bah Humbug or none of the above. It does, however, involve shopping! The 2020 Medicare Open Enrollment season is upon us and will last from Oct. 15 to Dec. 7. Now is the time to assess your…

When is the Best Time to Get a Reverse Mortgage? Wait or Act Now?

You might be surprised by how many people are interested in learning about reverse mortgages. There are borrowers from every state, from a wide variety of socioeconomic backgrounds and the ages of borrowers range anywhere from 62 to 95 and older and everything in between. One thing everyone struggles with is when is the best…

Do You Really Care About Your Wife? (Social Security Survivor Benefits Suggest Otherwise)

A new study from the Boston College Center for Retirement Research has found that husbands ignore (maybe overlook or under think) their wife’s retirement income needs when making decisions about when to start Social Security benefits. Widows (and widowers) are entitled to switch to Social Security Survivor benefits and receive their spouse’s full benefit amount…

ready to retire

Ready to Retire? Hurry, the Best Time of Your Life Awaits!

You might be nervous about your future but research suggests that you should run — not walk — toward retirement.  Get ready to retire because the best times of your life await you. Most People Find that Retirement is the Happiest Period of Life Research from Age Wave and Merrill Lynch found that, of all…

He is not leaving money on the table.. Happy man wearing jeans shirt and glasses sitting at the kitchen table at home, working on laptop, looking up and laughing.

7 Ways You May Be Leaving Money on the Table When You Retire

Are you leaving money on the table when you retire? The answer is likely a resounding YES! (Whether you realize it or not.) You want and need every penny you can muster to fund a secure future. So,, it is important to take advantage of every opportunity to increase your assets and make smart use…

Podcast: Doug Nordman — Military Retirement Benefits

Episode 30 of the NewRetirement podcast is an interview with Doug Nordman — author and founder of The Military Guide — and discusses what life is like being financially independent and how Doug got there by being smart on military retirement benefits. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on…

retirement depression

Retirement Depression: 9 Tips for Combating this Very Common Syndrome

Retirement depression — feeling sad or lacking energy and focus after retiring — is surprisingly common. A study published in the Journal of Population Ageing found that those who were retired were about twice as likely to report feeling symptoms of depression than those who were still working. And, research from the London-based Institute of…

retirement planning activities

Are You Doing Less (or More) Retirement Planning Activities than the Average Person?

Most of us have done some kind of retirement planning activities.  In fact, according to a recent study from Vanguard, only 1 out of 10 pre and recent retirees have not done any planning at all. However, not everyone is tackling the same retirement planning tasks and only a few of us are creating a…

cut retirement costs

20 Ways to Cut Retirement Costs: When You Are Rich in Time It’s Easy to Spend a Little Less

Most of us could benefit from cutting retirement costs.  Now is the time to really know what you are spending and assess your budget. When living on a fixed income in retirement, it is very important to make sure that your income does not exceed expenses. Living more frugally can be done no matter your…

how to save more money

How to Save More Money for Retirement: 22 Smart and Easy Ways to Boost Savings Big!

You’ve probably heard a lot of advice about how to save more money for retirement. Everyone tells you that you really need to do it. And if you’re like a lot of people, you probably think that it’s a great idea — you are just not exactly sure where to find the cash. Learn how…

divorce after 50

Divorce After 50: Don’t Let ‘Gray Divorce’ Ruin Your Retirement

Gray divorce — divorce after 50 — can really cramp your retirement lifestyle. When you say ‘I do,’ your personal finances may not be the first thing on your mind. But the truth is, couples who get married and stay married have benefits that single people simply don’t, such as being able to split up…

long term care

Planning for Long Term Care: An Important Part of Being Prepared for Retirement

Dementia. Stroke. Alzheimer’s disease. The prevalence of these health events is a big reason why you need to make planning for long term care an important part of your retirement plans. Will you need to give care? Will you need care? What is Long Term Care? Older Americans continue to be in the dark when it…

Podcast: Brian Bollinger — Simply Safe Dividends

Episode 29 of the NewRetirement podcast is an interview with Brian Bollinger, an entrepreneur and founder of Simply Safe Dividends — a company dedicated to dividend investing and generating passive income. Brian is a former equity research analyst and registered CPA who quit his investment job to start his own company at 26. Listen Now:…

retirement spending

How to Create a Reliable Retirement Budget: Plan for Evolving Spending

Your retirement budget determines how much you will really need to have saved for a secure retirement. It is very important to get this right. While accurately estimating your expenses for the rest of your life is a daunting prospect, the right tools and advice can make it easy. Your retirement budget will evolve… Detailed…

Another Word for Retirement

What is Another Word for Retirement? There Has Got to Be Something Better!

I think we can all agree. We desperately need another word for retirement. Retirement is a word that we use to roughly define a period of life after work. But this word is imprecise at best and — at worst — really flat out wrong about this phase of life. I mean, some of us…

Paying Off Debt

Paying Off a Debt? First Celebrate then Do This…

Whether it is a credit card, car loan or the holy grail of all debts — your mortgage, paying off debt and eliminating monthly payments is a really big deal. When you pay off a debt, it is a huge opportunity to rethink your financial situation.  Your cashflow will have suddenly improved.  What are you…

will i run out of money in retirement

Knock Out Worries About Running Out of Money! Give Your Retirement Plan the 1-2 Punch it Needs!

Believe me, you are not alone if you have nervously asked yourself, your spouse or even a financial advisor: “will my retirement savings last as long as I do?”  Concerns about running out of money in retirement are almost universal — no matter how much money you have.  After all, there are many unknowable variables…

retirement survival pack

10 Expected and Unexpected Ways to Use a Reverse Mortgage

From improving cashflow to curing loneliness or installing a whirlpool bathtub, there are unlimited ways that people can use a reverse mortgage to improve their lives in retirement. A reverse mortgage allows individuals age 62 and older to convert a portion of their home equity into tax-free loan proceeds. This money can be used for…

Taking a sabbatical leave

Taking a Sabbatical Leave: A Sneaky Way to Get an Early (Temporary) Retirement!

Early retirement is something most of us dream about.  But it is usually just that — a dream.  However, have you considered a sabbatical?  A sabbatical can be a meaningful and highly satisfying way to to get an early, albeit temporary, retirement. Sabbatical or Burnout? Sabbatical Meaning What Exactly? Sabbaticals, mini retirements and gap years…

pre retiree get ready to retire

5-10 Years from Retirement? Get Ahead With These 12 Tips!

On your marks, get set…. RETIRE!  If you are in your 50s or 60s, you are probably about 10 years from retirement (give or take) — maybe you are even 5 years from retirement. Regardless of the exact timing, you are about to step into the starting blocks and race for the retirement finish line….

Podcast: Cameron Huddleston — Mom and Dad, We Need to Talk

Episode 28 of the NewRetirement podcast is an interview with Cameron Huddleston, an award winning personal finance journalist and author, about her experience planning for and caring for aging parents. Her work has appeared in Kiplinger’s Personal Finance, Business Insider, Chicago Tribune, Fortune, Huffington Post, Money, MSN, USA Today and many other publications. A mom…

You Might Have Less in Your Retirement Account than You Think You Have!

I hate to be the bearer of bad news, but you might have less in your retirement account than you think you have! At least the worth to you might be less than you imagine. Really! Your 401k or IRA account balance is not telling the whole story of your wealth — especially if your income…

Rolling Stones Annuities

Gimme Shelter: Why Are the Rolling Stones Hawking Annuities?

The sole sponsor for the Rolling Stones’ US Tour 2019 is the Alliance for Lifetime Income, an advocacy organization whose purpose is to help Americans address the risk of outliving their retirement income. No drugs, sex, cars or even fashion — annuities. Why Annuities? It may seem a surprising choice of sponsor for The Stones…

SECURE Act

The SECURE Act: Will Retirement Get Easier?

The House of Representatives’ Setting Every Community Up for Retirement Enhancement (SECURE) Act and a similar bill in the Senate, the Retirement Enhancement and Savings Act (RESA) are bills backed by both Republicans and Democrats (gasp!) that aspire to improve retirement and retirement planning for Americans. The Secure Act was approved by the House of…