Posted in Retirement

According to an analysis by the Economic Policy Institute the median working-age couple has only saved $5,000 for retirement, and 70% of couples have less than $50,000 saved. Considering retirement can last 30 years or more, having a solid savings plan is crucial to everyone’s well-being and long-term happiness – both yours and your employees. As a business owner you know that establishing an attractive culture is key both in recruiting new talent and keeping existing employees satisfied, and a…
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When you determine how much income you’ll need in retirement, you may base your projection on the type of lifestyle you plan to have and when you want to retire. However, as you grow closer to retirement, you may discover that your income won’t be enough to meet your needs. If you find yourself in this situation, you’ll need to adopt a plan to bridge this projected income gap. Delay retirement: 65 is just a number One way of dealing…
Continue reading Closing a Retirement Income Gap

As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed a deduction for contributions you make to an employer-sponsored retirement plan. In return, however, you’re required to include certain employees in the plan, and to give a portion of the contributions you make to those participating employees. Nevertheless, a retirement plan can provide you with a tax-advantaged method to save funds for your own retirement, while providing your employees with a…
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Retirement can be scary. You save up for it your whole life, working hard and investing it for your future. Then that day finally comes and you start pulling out that hard earned money. How do you decide how much money you pull out of these accounts? In general, a safe withdrawal rate is 3%. So, for example, if you accumulated $1,000,000 in savings between your 401k and your IRA then you would pull out $30,000 per year. It that…
Continue reading I'm Retired – Where do I get my paycheck?

In today’s corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you’ve received is a good one? By evaluating it carefully to make sure that the offer fits your needs. What’s the severance package? Most early retirement offers include a severance package that is based on your annual salary and years of service at the company. For example, your…
Continue reading Evaluating an Early Retirement Offer