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Retirement Planning Blog

on 30 March, 2016


Since 2003, April has been recognized as National Financial Literacy Month. It’s a 30-day period consisting of nationwide efforts to promote financial awareness and its benefits among all generations of Americans. As the old chestnut says, “knowledge is power,” and strong financial awareness empowers people to make good decisions about their future.

But on that note, just why is financial education so important? Unfortunately, studies show a widespread lack of financial awareness – and with it comes greater potential for shortfalls in Americans’ financial well-being. It’s a trend with tremendous implications for all Americans.

What Do the Numbers Say?

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on 18 February, 2016

Retirement Trends for Baby Boomers

Surveys confirm Americans will face a number of retirement issues. It’s optimal to plan ahead so you can account for these benchmarks. But what about if you’re already retired – or what if retirement is just around the corner?

According to Pew Research, each day 10,000 additional baby boomers turn 65 years old. Since this trend is set to persist over a 19-year period, it’s certainly one that’s been redefining retirement. In fact, baby boomers will face many unique trends in their retirement years.

Let’s cover some of these trends below.

Pressing Boomer Retirement Trends

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on 22 June, 2016

The Importance of Financial Education

In the past, we’ve discussed the importance of being prepared for retirement. Unfortunately, not taking proper precautions can lead to shortfalls later on. It’s important to evaluate what your retirement needs will be and to develop a roadmap to meet those objectives.

Ultimately, one significant factor behind any retirement shortfalls is a gap in financial education, especially among younger generations of Americans. Unfortunately, surveys indicate a widespread lack of financial awareness. For example, in a study by Champlain College’s Center for Financial Literacy, researchers graded all 50 states on what they were doing to promote financial education in the classroom.

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on 04 February, 2016

Top Retirement Issues

In the past, we’ve discussed ways to catch up on retirement saving. Other areas of focus have been how to determine how big your retirement fund should be, and the financial challenges seniors will face in retirement.

But what about retirement issues, in general? From healthcare expenses to accounting for all years of living in retirement planning, there’s a wide landscape with which to contend. Read on for more information about the top retirement issues of today.

What Retirement Issues Do Americans Face?

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on 10 March, 2016

Average American Household Savings Near Retirement

Proactive planning is a critical step for a secure retirement. But just how prepared are American households for their retirement years? Of course it’s important to recognize all households will have different retirement needs. People vary in their life circumstances and objectives, and as a result, their financial circumstances and requirements will also vary.

Some couples may require a seven-figure nest egg to feel secure. Others are confident their Social Security benefits will be suitable for their future needs. Given how Americans have such a wide-ranging outlook on finances in retirement, how people interpret statistics such as average American household retirement savings will vary. What may be the start of a looming crisis for some may be a minor challenge for others.

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on 27 January, 2016

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In the past, we’ve looked at retirement planning strategies for specific populations, like self-employed Americans or women. But what if someone is part of the segment of Americans who aren’t that well-prepared for retirement?

According to a survey conducted by, 36% of surveyed adults say they didn’t have a penny saved for retirement. Around 25% of the people aged 50-64 in the survey reported they had yet to start their retirement savings. These findings are consistent with data found in previous surveys. In fact, previous data shows there’s a wide gap between Americans’ retirement expectations and what they’re actually prepared for.

A big part of it is because many American households live paycheck to paycheck. So what steps can you implement to catch up on retirement savings? Read on for some helpful tips.

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on 22 June, 2016

Financial Planning Steps with Your Partner

In the past, we’ve discussed ways to create a meaningful retirement. After many years of hard work, people want to enjoy their retirement years. It’s important for this period to be enrichening, but taking steps to ensure a secure future is also paramount.

Many baby boomers are couples. Oftentimes household duties and responsibilities are divvied up among partners. One handles the finances, and the other may hold responsibility for other areas of planning. Daily chores such as cooking or cleaning the kitchen are likely to be split duties.

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on 20 January, 2016

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In the past, we’ve talked about the importance of being prepared for retirement. Of course preparation is different for everyone. For one, women will have different retirement needs and goals than men.

It also depends on what employment capacity you’re in. If you’re employed by a large company, for instance, you may have a retirement pension plan via your employer (though these sorts of perks from employers are disappearing). But what about planning for retirement if you’re self-employed?

According to various data sources, there are roughly 10 million self-employed Americans – from business owners and independent contributors to freelancing professionals. In a recent TD Ameritrade survey, around 55% reported they’re behind on retirement savings. On the whole, baby boomers have an average windfall of being $335,000 down from their retirement savings objective.

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on 29 February, 2016

Brighten Up Your Retirement Years

After many years of working, everyone wants to enjoy their retirement. However, a meaningful retirement won’t come about just on its own. Taking certain steps before and during your retirement years will help.

Of course, many of these steps aren’t related to financial preparation. Determining causes you’re interested in volunteering for, having a robust social network, and being around family in your later years are a few other ways of enrichening your life. Read on for helpful points to make your retirement experience as rich and fulfilling as possible.

Ways to Enrichen Retirement Life

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on 30 December, 2015

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In the past, we’ve discussed what retirement expectations are today – such as what Americans consider to be an ideal retirement. But on the other hand, this is balanced by recurring fears about retirement security. For one, many Americans worry about whether they will have enough retirement funds to live comfortably.

Then there is the issue of unrealistic expectations. A growing body of data shows Americans believe they’re more ready for retirement than they actually are. A recent study by the Transamerica Center for Retirement Studies showcased this trend. The study surveyed 4,000+ workers aged 50 and 2,000+ recent retirees, and then compared the workers’ responses with the retirees’ recent experiences in retirement.

What Does the Study Say about Retirement Expectations?

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