Providing financial support for adult children at the expense of parents’ retirement savings can lead to negative consequences. But with advance planning, that support can be reduced or eliminated to help parents’ recover and be better prepared financially for their retirement.
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A specific type of 401k plan exists just for small business owners. Details vary with the focus on helping self-employed people save for retirement.
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Extra income during retirement is always welcome. But resist the temptation to spend it all immediately and consider using the funds to payoff debt and invest wisely to maximize growth for your senior years.
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With the Social Security Fund expected to run out of money, people should prepare themselves by meeting with a financial professional, creating a balanced and diversified retirement plan, and saving early on.
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After the loss of a lifelong partner, the risk of death for the surviving spouse rises. Many people tend to neglect their own needs, health and finances, contributing to this alarming fact.
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Resist the temptation to rely on luck to get you through the tough times in retirement. Prepare by having an emergency plan and fund, and talking with your loved ones about your needs and expectations.
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Annuities can play a vital role in securing a stable retirement by providing steady and lifetime payments. But understanding the details is essential before determining their place in your retirement portfolio.
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The best way to prepare for rising health care costs as you age is to plan as far ahead as possible. Talk with family members and consult with your retirement financial planner to avoid financial ruin from escalating health expenses.
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The bond market bubble may occur soon as interest rates rise amidst market volatility. It is vital to understand how your bonds’ values may be affected to protect yourself from loss.
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