Planning Retirement

People over the age of 55 looking to withdraw their pensions will pay a maximum of 1% from next year. The Financial Conduct Authority said it is capping early exit charges on personal pensions at 1% from the 1  March 2017. Early exit charges that are currently set at less than …

A new survey has revealed that savers unhappy that they invested in drawdown and others that did not understand the risk could be jeopardising pension freedoms. Research from MetLife found that of savers who have taken out conventional drawdown, more than one in five (21%) admit they did not understand …

Not everyone was thrilled with the new regulation. “We are disappointed with the Department of Labor’s final rule, which exempts state-run retirement programs for private sector employees from vital consumer protections provided by ERISA,” said Investment Company Institute CEO Paul Schott Stevens in a statement. “Several states have already moved …

If you can’t live without your own wheels or live too far from public transportation, trade in your current car for a more inexpensive and fuel-efficient model. 3. Cancel subscriptions you never use. Whether it’s a gym membership, a bunch of magazines or Netflix, if you don’t use it, don’t …

The myRA is a starter retirement plan that works like a Roth IRA except there are no fees and account holders can only invest in Treasurys. Once account holders save $15,000 in their myRAs, they must roll them over into Roth IRAs. Account holders of myRAs and Roth IRAs do …

As with any investment projection, assumptions matter. Levine assumed that the typical annuity investor would generate an average annual return of 5 percent after fees and an index universal life policyholder would earn 6 percent a year after fees. The growth rate for U.S. stocks is expected range from 4 …

The focus on saving over investing may have to do with participants’ own priorities. “If the next step is saving rather than investing you’re thinking short term,” said Kollauf. “People equate the investment component with long-term needs.” Advisors, however, say that clients these days are generally more mindful of debt …

It’s been well-documented that Americans, on average, haven’t saved nearly enough for retirement. Some, though, are a lot better off than others. And that may have to do with a wide gap in access to a retirement savings plan at work. That disparity was described in detail in an analysis …

In Belize’s Cayo District, you’ll notice that nearly everyone speaks English — it’s the official language in the small, Central American country. Plus, your money will go further because the Belize dollar is pegged to the U.S. dollar at a fixed rate of 2 to 1. The cost of living …

It’s all about your perspective, and the demands on that money. Someone expecting to retire early, live long and spend big — or even just do one of those three — may need more than $1 million, Keckler said. Health costs and expectations of leaving a financial legacy can also …