retirement planning Archives - Page 6 of 6 - Financial Security for All

May 30, 2019March 23, 2021

Making the Right Move in Retirement: Where Will You Live?

Making the Right Move in Retirement: Where Will You Live?

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

Finding affordable, comfortable, and safe housing in later life is an important component of the retirement planning process. Along with health care, housing costs (especially property taxes) are often among the most expensive parts of a retired person’s budget. Are you planning to “age in place” and continue to live in your current home and/or community or do you want to move …

May 30, 2019March 23, 2021

Making the Most of IRAs and Other Tax-Deferred Retirement Savings

Making the Most of IRAs and Employer Tax-Deferred Retirement Savings

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

The best way to make the most of IRAs and tax-deferred employer retirement savings plans (e.g., 401(k), 403(b), and 457 plans) is to contribute to them regularly and set aside as much money as you possibly can. The more money you save, the better, because a larger sum will grow tax-deferred, sometimes for decades. The result is a higher account balance at …

May 30, 2019March 23, 2021

How to Make Required Minimum Withdrawals from Retirement Savings Plans

How to Make Required Minimum Withdrawals from Retirement Savings Plans

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

“RMD.” What do those three letters mean to you? If you’re retired and in your seventies or older, they mean a lot. “RMD” is an abbreviation for “required minimum distribution.” This is the amount of money that investors age 70½ and older are required by the IRS to withdraw from tax-deferred retirement savings plans such as Traditional IRAs, simplified employee pensions (SEPs), …

May 30, 2019March 23, 2021

Retirement Estimator for Farm Families

Whether you are thinking of retiring gradually or about taking the big step all at once, you may wonder whether you can afford to retire. The Retirement estimator for farm families can help guide through that decision making process.

This tool evaluates your financial readiness for retirement.

Goto: Retirement Estimator

Content Developed By: Sharon DeVaney, Janet Bechman, and George Patrick.
Web Development by Agriculture Information Systems, Purdue University.
Purdue University is an equal access/equal opportunity institution.…

May 30, 2019May 13, 2020

Financial Security: Retirement Planning

Planning for retirement is a challenge for everyone. Again, the earlier you begin, the longer you will have to accumulate funds and capitalize on compound interest. A plan designed to meet specific retirement goals may be separate from or part of the investment building block.

Some people have given a great deal of thought to retirement, but others have not. Less than half (42%) of working Americans have made a retirement savings calculation, according to the 2006 Retirement Confidence Survey, …