17 years ago, my parents divorced & remarried. 2 weeks ago my dad died. My mother was the sole beneficiary on the life insurance policy. She kept all of the money for her retirement, even though she makes $200K/year. Would you do this to your kids?
Something this question does not address that makes me wonder....after the divorce, which parent primarily raised you and your sibling(s)? If your mother raised you or even primarily raised you, did your father contribute much to the cost of your care? Do you know who assumed the better part of the financial burden of raising you?When my father
As an American nears retirement age, how often should they check the SSA website and what should they be looking for? Do most Americans getting ready to retire do these things?
It's a good idea to check annually. Set up an account online with the SSA and they will email you once a year to do just that. At full retirement age (67 for most current workers) the maximum benefit is $2,861 per month this year. It slowly
At the age of 60 and closing in on retirement, what is the number one 'course of action' to be prepared for retirement?
Dear Judy thank you for the question!It is a great question and one that millions of people should be asking themselves.I don't think there is ONE answer to your question. Like ‘retirement' itself I think there are a lot of parts and what is the ‘one' thing that is important is
I started planning my retirement when I was 21. Yes at 21!At that age you go with friends, watch movies, travel, while transitioning into a new job. I did all of that but also made sure that I kept investing a small amount every month into
It would be in the divorce decree (settlement agreement).Before I got divorced, I called my pension fund and asked them about changing my soon to be ex-wife as a beneficiary. They said I could do it at anytime.I then asked well
I know I should pass this question...but I can't help myself. So here it is.Yes she can, ( as god/she said right? ) I don't know who came up with this rule that it is not ok to leave your SO when:It is his b-day (hey 50 cents
Hey! I would like to congratulate you for thinking of early retirement. That's the first step towards successful investment planning for retirement, as well as, leading a confident and respectful post retirement life.To give you an accurate plan or answer,
I'm 77 and not retired - intentionally. I'm at a peak in my internal motivation and excitement about life's possibilities.I began to question the concept of traditional
That's a great question Nicola.To stay fit and healthy one of the most important things to focus on is your diet as our body composition is the result of 80% what we eat & 20% exercise.By gradually eliminating foods such as grains
I'm 23 and plan on retiring in the very near future.Say what!?I don't have millions in the bank, a trust fund, or any other crazy advantge.What I do have is an understanding of what's needed to retire and how to make it happen, which I am happy to share...First, decide on a monthly budget you need
Of course the answer
It depends on what is your current age. Now let us take an example. Say i want to retire at 55. I am today at 35 years of age. So i have 20 years to work and save to create a
It has always been sort of a common thing to see people retiring at 60. It was very common in the previous generation for banks (or factories) would employ the same person through his / her entire career - and then give them 'pension'. Even now many companies have that as their age for retirement. Some companies
Most private-sector retirement vehicles are either Individual Retirement Arrangements (IRAs), defined contribution plans, or defined benefit plans. People tend to think of an IRA as something that individuals establish on their own, but an employer can help its employees set up and fund their IRAs. With an IRA, the amount that an individual
Efrain Martinez @martefrain_: it seems like ever since ur born lifes all about working getting promotion etc But whats life after retirement? It seems lifelessAnswerI was retired when I was three years old. All I had
Financial advisors will tell you that the earlier you start the better, so I think they mean as soon as you are out of nappies and eating solid food.That way the scam merchants get their commision straight away and for a lot more years than if you start later.Wake up you are being fed a complete load of BS
I've answered a few similar questions here. Put simply, retiring in Southeast Asia sounded fun, interesting, with cheap food and beer, UNESCO sites to go visit, and seeing so many countries at a slow pace. I left in 2018 for a few
When you feel the need, can support yourself afterwards, are ill and can go on no longer, etc. It's pretty much different for most people. I was 62 and the company I worked for was going out of business because of gross mismanagement. It is very
At this point in your life, do you work because you have to make a living or because you love to work? Do you work to live or live to work? If you could retire today, would you?
Currently I work because I have to make a living. I definitely don't love my work, and I don't think I will ever love any work/job. I'm working to pay the bills while I build a company that will eventually take over with a passive income, and I can retire early.So I work to live, and
I am so happy to see these questions related with being Financially Independent an Retire Early (FIRE). I myself pondered upon this question 8 years back and now I can proudly say that I have almost achieved it.How much money
No, not for me. In fact, I am now living the best years of my life.I called it quits when my income was at the highest level it have ever been. I chose to retire. My retirement was not forced by
I waited about 20 years in IT as a Program Manager and before worked toward it as a professioral archeologist and before that in the US Army. But the last 10 years were the worst. Divorce, meaningless consulting jobs. Then on 1 March 2018 I retired. I then left the United States the same day for Southeast
How to make full use of your time when you retire? Is it difficult to stay motivated with this newfound freedom
Motivation is pretty much up to you. Lifetime learning is key to motivation. Don't spend all your time watching TV's unreal soaps and movies. Try documentaries, too!Read about stuff that has always interested you. Learn a new hobby. Get creative and turn
If all the good stuff is always the next, newest, coolest looking, and fastest, why get anything until you're retired, and can just enjoy the end of your life with the best stuff then, without having to go through so many upgrades?
Not a bad idea.You will have mobile phone at an age where you have no one to call but your children.You will get a very fast internet at an age when you don't know what to do with it.You will have a very cool
Due to an industrial accident, I was forced into an early retirement. As a result, have had many years to digest the lessons I gleaned from my previous colleagues experiences and I've discover myriad ways to take full advantage of this glorious time.I am happy to pass those lessons on
No not at all. I'm not a big shahrukh khan fan but still his work is appreciable and basically an actor has no retirement as such . In Bollywood shah rukh is big brand
Tiger will not retire from golf because golf "is his life". I only know what I know from following the game for twenty years. I do not know him personally. Hank Haney's book, however, gave some of the best insight into Tiger-the-person. Golf is his Life. He measures himself by
It depends broadly on three parameters:Your average monthly expenditureTime. Your current age, and life expectancyInflation adjusted returns on your savingsAssuming you are 45 now and you spend 1 lakhs per month, then a corpus of 3.36 Crores will support you till 85.You can calculate the desired corpus size
There are different types of pension plans, considerations such as private or public, availability of pension payout options, the terms based on company seniority (executive versus non-managerial).You won't get a definitive answer here on Quora as you need to consult the HR/pension department of his/heremployer for specific rules that applied when
How much should someone have in an investment account at every age to be considered well off for retirement?
Current investment * growth factor = retirement investment = Desired annual income * 25Current investment = desired annual income * 25 / growth factorGrowth factor = 1.07 ^ (years to retirement)So first determine in how many years you want to retire.Then
It depends on you. If you do absolutely nothing but stay home all day, the answer is no.If you take classes, make new friends, join clubs, travel, and just do new things, the answer can be yes. It's all up to you. There's many many things to do in retirement, more than while you're
My father divorced his wife 3 years ago. He died this year and still had the ex-wife as his beneficiary on retirement and life insurance policies. Would the ex be entitled to these policies?
My father divorced his wife 3 years ago. He died this year and still had the ex-wife as his beneficiary on retirement and life insurance policies. Would the ex be entitled to these policies?Absolutely. Until and unless your father changed his beneficiaries, his ex-wife
What advice would you give to someone close to retirement about their healthcare in retirement, and how far in advance of retirement should they start researching?
It's easy to make mistakes even when you plan carefully.Buying insurance in the market place can result in a penalty if your income exceeds what you expected it to be. Friends of ours ended up with a lot more income than they thought they would have. They had to take money out of a retirement
I planned to retire at age 60. At that time, I had 30 years in the company and maxed out on the company contribution to my retirement medical plan. But I didn't do it. But, I could have. My financial adviser did the projections, conservative as they should be, and it was possible. I decided to finish the
I did my homework and pretty much concluded that all the best places for retirement are in Southern European countries. The weather is better, the cost of living is lower and it's generally easier to get a retirement visa.We looked at Italy, Portugal and Spain. For us Spain won out because it's clean, well located for
ASAP.There is no better time and age then ASAP. As young and as soon as you can start, you should.Options Trading For Dummies - Learn how options works in layman termsDaily US Stock Market - My US Market Analysis BlogStock Options Picks For Explosive Returns - My picks and mentoring service
Right now the US dollar is very strong against the Euro and British Pound so your dollars will go farther. And while you can have Social Security payments sent to you in a foreign land (but you really don't want to do that), Medicare cannot be used outside of the US. International Living ranked Portugal
At age 55 and almost $400k, I can't retire yet. Yet my plan is coming to fruition where I will be able to retire comfortably.9 1/2 years ago, I was broke, bankrupt, and living in my brother's basement. I got a job working in the Walmart deli for $9.60/hr. After living there for a year, I had saved about
If you haven't started by the time you turn 10,000 days old..it should be that day. I believe our financial lives are broken down into 10,000 day segments Foundation Years 1-10,000 Days (Birth to approx 27 years and 4 mo.)- Getting educated and prepared for life Accumulation Years 10,001-20,000 Days (27-55 years) Saving
Even though I have had a successful marriage for 35 years and had two great children--one a graduate of Yale and the other a graduate of Rice--this does not mean that marriage and children are for everyone. For one thing the divorce rate in the United
When you are financially and emotionally ready. It is definitely a change you need to prepare for. Update your appliances, heating system, roof, etc anything that would be costly with no income coming in. Perhaps a new car? Expand your group of friends. Make sure you have hobbies and friends to do them with. Have all the dental/medical
There are too many temptations enticing people to spend rather than invest for retirement. The rich capitalists are sucking the future out of the working and middle classes with very clever marketing and sales gimmicks. Even banks are enticing people to pull money from savings accounts into investment accounts by keeping savings interest rates artificially low. It's a sucker's
I suspect you're confusing the order of service.People move into retirement communities because they are no longer able to live safely in their old homes. They may know a fall is imminent; that the stairs are increasingly painful; that the house could not be made wheelchair-accessible.They may want to live in a place where assistance services can be