Retirees face some unique financial circumstances. Yet many challenges – like building an emergency fund or creating a retirement income plan – are shared with those still in the workforce. This specially curated set of lessons and webinars offers practical ideas to strengthen and support your financial well-being.
Getting Out of Debt
A heavy debt load can squeeze the joy out of life, cause family conflict, and limit your choices for yourself and those you love. There is hope. Discover how to track your debt and two approaches to managing or eliminating it.
I. What’s Different About Retirement
The main reason retirement income planning differs from retirement accumulation planning is the additional risks faced during retirement. Part one of this webinar focuses on four post-retirement risks we need to manage when creating a retirement income plan.
II. How Much Will I Need in Retirement?
Now that we’ve reviewed the four primary retirement risks in Part 1, let’s look at one of the biggest questions pre-retirees have: How much will I need in retirement?
III. What Are My Options for Closing Retirement Income Gaps?
In this third part of the workshop, we’ll look at options for closing any gaps between your essential needs and lifetime income sources. We’ll also consider any gaps between your discretionary needs and managed income sources. There are eight options to consider for closing retirement income gaps. This workshop section explores each.
IV. How do I Convert Retirement Resources Into Income?
When creating a retirement income plan, the rubber meets the road in figuring out how to convert retirement resources into income. In this Part 4 of the Managing Your Retirement Income workshop, we’ll review the concepts discussed in the previous sections, then explain how you can apply them to creating a lifetime retirement income plan.
Managing Credit Card Debt
Whether booking a flight or online bill-paying, credit cards can seem like an easy, secure, and sometimes only way to get the job done. But for many Americans, they also serve as a necessary evil when monthly income fails to meet expenses.
Dementia, Your Parents and You
Nearly one in 10 older Americans has dementia, including 35% of those in their 90s. How can you help your aging parents. Will dementia impact your future retirement?
Creating a Budget
Whether you’re dreaming of a better financial future or looking for a way to relieve financial stress, creating a budget can be a great first step.
Building an Emergency Fund
Whether big or little, emergencies can pile a whole bunch of emotional stress into our life. Often, that’s because crises affect those we love and our ability to care for them.
Why Your Credit Report Matters
Even if you don’t plan on borrowing money soon, your credit score and history can have a big impact on your life. A low credit score and bad history can impact your ability to land some jobs, buy a car, or even rent an apartment.
Qualified Charitable Distributions
Recently, a My Penny Earned subscriber asked a great question: “Is there a way to give to charity directly from my retirement account, without increasing my taxable income?” That question points to a strategy worth knowing: the Qualified Charitable Distribution, or QCD.