Financial Emergencies Can Play Havoc in Retirement. Are You Prepared with the Right Retirement Plan?

As professionals who help people from all walks of life plan for retirement, Rajiv Nagaich and his team at AgingOptions deal frequently with certain issues that are common to many retirees. One of the worries that comes up most often involves financial emergencies and how to handle them, especially when living on a fixed income.…

Financial planning can help you build a nest egg.

Will Your Nest Egg Last? 40 Percent of Retirees Say They are Spending Money Faster than They Expected

If we’ve said it once here on the AgingOptions blog, we’ve said it a thousand times: having a good retirement plan isn’t the same as having a good financial plan. So as we share this just-published article from the financial website Motley Fool, we feel we should alert you ahead of time that the article,…

AARP Report: Older Homeowners Association Members Who Fall Behind on Dues and Fees Face Increasingly Harsh Treatment

As people plan ahead for retirement, they often think about downsizing – and that often means selling the large, old family home and moving into a low-maintenance condo or a planned senior community. Those can be terrific options for seniors looking for the dream of carefree living. But be careful: that type of home typically…

Live it Up for Less: Five Ways to Cut Spending and Still Enjoy a Quality Retirement

Ah, retirement! It’s just one fancy meal and exotic trip after another, right? Well…maybe for a tiny handful of the uber wealthy. For the rest of us, living in retirement means learning to compromise, improvise and economize, since there’s usually a limited amount of resources to spend on things that are purely fun. Live it…

Transamerica Survey Says Over One-Third of Seniors Report Declining Financial Health in Retirement

If retirement is on your horizon, you’ve probably been spending a lot of time wondering how well your finances will hold up once you cut the ties to full-time work. For many retirees, the financial transition to retirement turns out fine. However, that’s not always the case, according to this recent article from Motley Fool.…

Best of Intentions: If You Want Your Estate to be Distributed Properly, Remember to Update Your Beneficiaries

Here’s a question: if you’ve made it clear in your will which of your heirs should inherit money from your estate, how it is possible that those funds will end up going to someone else? The answer is simple: if you’ve forgotten to update the beneficiary information on a life insurance policy, retirement plan, or…

Wall Street Journal Report: Boomers are Entering Retirement Less Prepared than Their Parents

For most of modern American history, it has been axiomatic that each generation would enter old age in better financial shape than their parents. Not anymore. Today’s retiring baby boomers are re-writing history, and not in a good way. The Least-Prepared Retirees in Decades “Americans are reaching retirement age in worse financial shape than the…

Taking early social security is usually a bad idea.

Is It Best to Delay Social Security Benefits Until Age 70? Rajiv Nagaich of AgingOptions Says That’s the Wrong Question!

Every few weeks, it seems, we encounter a new article or two trying to provide a definitive answer to a familiar question: when is the best age to begin taking Social Security benefits? Two such articles came to our attention recently, articles we found notable because the authors disagree pretty strongly with each other’s recommendations.…

Retirement Risks Can Be Eliminated

Instead of a “Food Diet” in the New Year, Consider a “Financial Diet” to Boost Retirement Security, Says Kiplinger

The New Year is here, and every year it seems the top New Year’s resolution involves going on a diet. But just as many doctors recommend a “food diet,” some financial planners say people getting ready for retirement need to go on a financial diet, trimming wasteful spending in order to get themselves better prepared…