Retirement Planning Archives - Page 2 of 2 - Retirement Income Solutions

23 Aug

Damian Sylvia Posted in Retirement No comments

Quick Look: How Your Retirement Savings Compares with Others Your Age

Have you ever wondered: “Am I really saving enough for retirement?” Do you wonder how your retirement savings compare with others your age? The average person in their twenties has around $16,000 in retirement savings. The average person in their thirties has saved about $45,000. Americans in their forties have median retirement savings of around $63,000. Americans in their fifties have median retirement savings of about $117,000. Americans in […]

21 Apr

Damian Sylvia Posted in Retirement No comments

Why You Might Not Want a Lump-Sum Retirement Payout

Do you have the option of receiving your retirement money as a lump-sum retirement payout? Consider all your options and speak with a retirement professional first because you may want to turn that choice down.

A new MetLife study, Paycheck or Pot of Gold, warns of the “lottery effect” that can occur when all that money makes its way into a household at once. Surveying more than 1,050 retirement plan participants who had taken lump-sum payouts, the survey found that 21% had already used up 100% of that money; on average, it had disappeared in less than six years. In less than six years! Read more about Why You Might Not Want a Lump-Sum Retirement Payout …

03 Mar

Damian Sylvia Posted in Retirement No comments

Retirement checklist for women—7 simple tips to get you started

The retirement journey can be long, lasting 10 to 35 years and for most of those years you will not have the benefit of earned income, rather you will be living on a fixed income of Social Security and retirement savings. What’s more, there are endless statistics showing that over 76% of all women are […]

13 Feb

Damian Sylvia Posted in Retirement No comments

Financial Planners’ Keys to a Happy Retirement

You want a happy retirement?

You want to boost the money you are stashing away for your retirement years. But now you face tough choices: Should you invest in a traditional individual retirement account (IRA)? How about a Roth IRA?

There are so many types of investment vehicles, choosing the right one for your retirement savings can seem overwhelming. But here’s a tip from financial advisors: Don’t focus so much on the savings accounts and investment options available to you. Instead, focus on setting goals for your own retirement. Then determine how much money you’ll need to meet those goals.