If you are in your sixties and are about to retire or started working in the late 1970s, you may remember SERPS. SERPS was a financial system created by the government at the time to give people extra money on top of the State Pension. But for young workers in the late seventies, it also … Read more
Working while getting Social Security benefits can be tricky. Many retirees worry that their extra income could mean less money in their monthly checks. I’ve done a lot of research on this subject to help you understand what kinds of income can affect your benefits and how much you can earn before your benefits go … Read more
Are you looking forward to retirement and have a big pension pot? If you’ve worked hard for decades to build up a £500,000 pension, you may be wondering what this could mean for your monthly income once you stop working. After all, most of us are used to getting regular paychecks, and switching to retirement … Read more
Losing a spouse is very hard on the emotions, and on top of that, many widows worry about how they will pay their bills in the future. Some of the questions I get from readers most often are about whether they can get their husband’s state pension after he dies. There isn’t a simple yes … Read more
Are you approaching your late 50s and wondering why financial advisors keep mentioning age 59.5? You’re not alone! This seemingly random half-birthday actually marks one of the most significant milestones in your retirement journey. In this article we’ll break down exactly why turning 59.5 is such a big deal and what opportunities it opens up … Read more
You may have a chance to increase your Social Security Disability Insurance (SSDI) benefits by submitting a request to the Social Security Administration (SSA). However, the SSA will only increase your benefits in specific situations, generally if you’ve had a major change in your life. Life circumstances can change unexpectedly, and if your situation changes, … Read more
Many people look forward to the time they can get their hands on the money they’ve saved for years in their pension. When you first decide to do something, you might decide to take the 25% of your pension savings that can be withdrawn tax-free. When you turn 55, you have more options for your … Read more
How much do you need to save for retirement? Its one of the most common questions people have. And no wonder. There are so many imponderables: When will you retire? How much will you spend in retirement? And for how long?. Thats why we did extensive analysis to come up with age-based retirement savings factors … Read more
There’s no one right way to save for retirement. There are many possible strategies to help maximize your efforts. One way to save more each year is to contribute to a Roth IRA in addition to an employer’s 401(k) plan. Not only is having both a Roth IRA and a 401(k) allowed by the IRS, … Read more
Figuring out the right amount of money needed for retirement feels like trying to solve a puzzle with missing pieces. As someone who’s spent countless hours researching this topic I can tell you there’s no “one-size-fits-all” answer. But don’t worry—I’m gonna break it down into manageable chunks that’ll help you determine what net worth you’ll … Read more