By Kerry Hannon, Next Avenue Contributor getty The coronavirus pandemic is causing many older workers who’ve lost jobs or been offered early retirement severance packages to decide to pack it in. But taking early retirement can throw a monkey wrench into your future financial security. That’s why it’s vital to be cautious before doing it.
Retirement
Steps to take now in the last five years before retirement some you can travel the world once work … [+] becomes and option. getty For many people, retirement has always seemed like a far-off goal. With the Coronavirus lockdown, I’ve seen an uptick in people getting more serious about setting a retirement date. I’ve
WASHINGTON, DC – JULY 21: Senate Majority Leader Mitch McConnell (R-KY) speaks to the media after … [+] weekly policy luncheons on Capitol Hill July 21, 2020 in Washington, DC. Senate Majority Leader Mitch McConnell on Tuesday promised a new round of direct payments to earners below a certain income level, similar to the $1,200
Your state pension is being robbed. Worse still, nobody wants you to know about it. Getty Expert forensic investigations reveal stealing from state pensions may be rampant, undermining the retirement security of workers. That’s an inconvenient truth that neither the inexperienced board overseeing your pension nor the Wall Streeters robbing it want you to know.
WASHINGTON, DC – JULY 20: Senate Majority Leader Mitch McConnell (R-KY) (L) listens to U.S. … [+] President Donald Trump talks to reporters while hosting Republican congressional leaders and members of Trump’s cabinet in the Oval Office at the White House July 20, 2020 in Washington, DC. Trump and the congressional leaders talked about a
NEW CASTLE, DE – JULY 21: Democratic presidential candidate Joe Biden speaks about economic … [+] recovery. (Photo by Drew Angerer/Getty Images) Getty Images Likely Democratic presidential nominee Joe Biden has proposed a major new initiative to encourage state Medicaid programs to expand home and community-based care for low-income older adults and younger people with
Next, we consider the joint impacts of rollup rates and payout rates on the amount of guaranteed income the annuity can support. When it comes time to begin taking guaranteed withdrawals, it is worthwhile to investigate whether applying the contract value of the annuity assets to a higher payout rate possibly available from other annuities
Shot of a young man using a smartphone while having coffee at a cafe superimposed on a city… [+] background Getty “I would either not even think about solutions because I was so wrapped up in the problem, or if I did think about solutions, I would focus on how to solve the problem in
An alternative to gold Getty There are other ways to capitalize on future market mischief I think of gold this way: in times of market stress, own it…if you really have to. Gold has a reputation as a substitute for hard currencies. But there are many ways to invest to try to solve the problems
Is 55 too early to retire? Here’s how to figure out if you can retire at 55. Getty Having the option to take an early retirement is a really nice thing to have. But is 55 too early to retire? If you want to retire early, you’ll need a solid plan, masterful control over your