It takes nearly 18 hours to drive from Chicago to Orlando, Florida. Gas for the trip is $89-$173. Plan to set aside 1 day and 5 hours to travel the 2,025 miles from Ann Arbor, Michigan to Tempe, Arizona. Gas will cost anywhere from $156 to $304.
Dual or seasonal residents choose to make those types of treks between two homes twice a year to take advantage mostly of milder temperatures and more comfortable climates elsewhere.
Small-business owners are an essential component of keeping America’s economy churning. In the United States, small businesses with 500 or fewer employees make up 99.7% of companies and are collectively worth more than $10 trillion.
Too often, however, small-business owners spend so much time and energy building their companies, they neglect their personal financial futures. They might consider their companies to be their retirement plans, but don’t create the structure or strategy necessary for turning financial success into a meaningful retirement.
No matter where you are in your life, saving for retirement is likely one of your most important financial goals. But, even if you have professional guidance and a clear strategy for your desired future, you could still be missing some straightforward ways to maximize your savings.
The reality is: Most people do not save enough money for retirement. In fact, the National Institute on Retirement Security estimates that Americans have at least a $6.8 trillion gap between the amount they have saved and the amount they need. Alarmingly, they found the gap could be as high as $14 trillion.
By Marc C. Shaffer
The idea of retirement and the reality of retirement can often be drastically different. For many people, retirement is the idea that at a certain age you will leave your career and enter into a life of leisure. Be it golfing, visiting sunny locations or spending time with grandchildren, retirement has been painted as the final phase of life where you haven’t a care in the world. Every day I talk with people who are retired or planning their retirement, and let me tell you, it’s time we start thinking differently about retirement. The 17th Annual Transamerica Retirement Survey showed that a majority of workers dream about traveling, spending more time with family, and pursuing hobbies, and 28 percent dream of doing some form of work in retirement. What does retirement mean to you? Does waiting until normal retirement age to pursue your dreams make sense to you, or would you like to consider an “alternative” retirement? The “what you want to do” and “how much you’re going to need” may look a lot different than you’re prepared for, so considering which type of retirement is right for you and the financial considerations to get you there are key. Let’s look at 5 types of retirement styles I talk about frequently:
Should Retirees Be Worried?
Market volatility is an historic inevitability; as a long-term investor, you are likely to experience years of volatile or negative portfolio growth. If volatility coincides with your retirement, you might be worried about how it may affect your savings and income.
