If there’s one lesson in investing, it’s that time in the market matters. The longer you leave your capital alone, the more it can grow. If past growth rates continue, the time you leave your savings alone is more important than how much you save. The problem with that, though, is that past growth rates are not likely to continue. Over the last 30 years, the stock market has averaged 7.8% growth. That growth rate is the foundation of many retirement plans, including some professionally managed funds. If you’ve invested your whole 401(k) in total market index funds hoping to…

Q: Most retirement advice is geared toward people “growing old together.” How do I plan for a fabulously single life after work? A: If you’re single at retirement, you won’t have several benefits: spousal Social Security benefits, life insurance payouts and equity, and preferential tax treatment for married couples. You’re not alone. The US census reports that 54% of men and 27% of women over age 65 are single, facing a more difficult retirement landscape than married couples. However, there are many retirement strategies that are easier for single people to execute. Here are three steps you can take to…

Saving for retirement can be stressful and frustrating for many people.  Growing concerns over the sustainability of programs like Social Security create worry, but many struggle to save on their own. It’s also a concern that affects people of all walks of life. Current Retirees vs. Upcoming Based on retirement savings, 73% of wealthy retirees reported being confident that they saved enough to last them throughout their retirement.  However, only 57% of wealthy people who are not retired think they will have enough money saved.  Therefore, it’s no surprise that while 59% of wealthy retirees reported not feeling stressed about retirement…

The Wall Street Journal recently reported that if Americans put 3% of their salaries towards a retirement plan, it still may not be enough for a comfortable retirement. The problem is many people don’t even want to part with that 3%. In fact, almost half of the people surveyed had no retirement funds at all. And many of those who are contributing to a 401(k) are not putting in the required amount to get their full employer match, leaving $42,855 behind on average per year. As these people get closer to retirement, the savings crunch can be extremely stressful and the well-deserved break…

You’ve heard how important it is to set up a retirement plan and you want to get started. Or, maybe you just want to understand what options you have. The two common accounts you’ll hear about are  401(k)s and IRAs. Here’s what you need to know about both of them. 401(k) Plan This is a plan you can get from your employer. You won’t need to worry about maintaining your account or remembering to make contributions. You specify how much to take out of your paycheck and it’s a pre-tax deduction. Employers often offer to match up to a certain…