How is your retirement plan coming along? Do you have enough money set aside to help cover expenses when your retire? Below are different resources offering advice on creating a retirement plan,  determining the best path to follow, planning for social security, and more. 

Disclaimer: Please note the information, resources and links are provided as a service to our readers only, and could be used as a guideline. does not recommend or endorse any person, business or organization listed below. You should consult with a financial planner, attorney, or family member before making any investments or purchasing anything from these sources.  Remember, if it sounds too good to be true, it probably is.  

    • Las Vegas vs Palm Springs for Retirement
      by Retire Better Now on February 18, 2020 at 10:21 pm

      The battle of Las Vegas vs Palm Springs for retirement has been ongoing for years. It’s time to finally settle the debate. Palm Springs has traditionally been a top retirement location for many people in California due to its favorable climate and relaxed nature. However, Las Vegas has recently become a major challenger for many of its own reasons. So which is a better place to retire, Palm Springs or Las Vegas? We evaluate Las Vegas vs. Palm Springs in the battle of retirement destinations! Las Vegas vs Palm Springs For Retirement Financial Affordability A major consideration for individuals seeking to retire is how far their money can go. Palm Springs has a wide variety of housing options with a median listing price of $499,000 as of February 2020, according to Sun City Palm Desert is a very popular community for active adults while Palm Desert and La Quinta also have a great deal to offer in terms of available homes. Meanwhile, Las Vegas offers an abundance of home options with a median listing price of only $300,000 as of February 2020, according to It features a number of attractive suburbs such as Summerlin and Henderson. Another financial benefit of retiring in Las Vegas is the absence of a state income tax, which is a substantial incentive for moving there. Winner: Las Vegas Climate The driving force for many people seeking to retire is a nice climate. Fortunately, both Palm Springs and Las Vegas has excellent arid desert climates with fairly predictable weather. Las Vegas has a bit more variability, with temperatures reaching a bit cooler than Palm Springs in the winters. Both can be scorching hot in the summer. Still, both of these locations will guarantee relatively warm and consistent weather preferable for most retirees. Winner: Tie Suitability for Visiting One major area in the battle of Las Vegas vs Palm Springs for retirement is which area does a better job of drawing family and friends to come visit? One of the important considerations for many retirees is the likelihood of children, grandchildren and extended family visiting, which means the suitability of the area for vacations is often something that must be considered. Palm Springs does have a draw for family and friends seeking a charming, small town relaxed trip. There’s a quaint downtown area and activities in the surrounding areas. Meanwhile, Las Vegas is one of the top places to visit in the world, which makes it very appealing for family and friends to visit! In Vegas, there’s something for everyone. With the combination of robust nightlife, dining, shopping, fun and affordable hotels to stay at and outdoor recreation in the surrounding area, it is a bigger draw for visitors Winner: Las Vegas Entertainment & Recreation One of the most critical things to consider before retiring are the local entertainment and recreation options. Palm Springs has a number of things to do particularly for those who like leisurely time outdoors. It is a favorite spot for hiking. The city also sports many boutique shops and is a great spot for antiquing and farmer’s markets. Palm Springs has drawn a strong reputation for boasting many world class golf courses, making it a great retirement choice for those who like to spend time on the links or watch golf tournaments. In fact, there are many championship caliber courses in the area. Another popular sporting activity in the area is tennis and it’s never very hard to find an open court. For those who like limitless options when it comes to entertainment and recreation, Las Vegas provides both leisure and excitement. Much is known about the casino environment; however, there is much more to the city than gambling including world class dining and comedy. It is also a typical stop for most concert tours. Furthermore, the surrounding community is home to excellent opportunities for hiking and outdoors life including Lake Mead and Red Rocks Canyon. Las Vegas also has a myriad of golfing options and offers both championship and beginner level courses. Vegas also has a budding pro sports scene. There’s the NFL Raiders starting in 2020 and the wildly popular Vegas Golden Knights of the NHL. Sports fans can also choose to watch the Las Vegas Aviators, a Triple-A Minor League Baseball team that plays at the brand new, $150 million Las Vegas Ballpark in Summerlin.   Winner: Las Vegas Conclusion Overall, Palm Springs and Las Vegas have many things to offer prospective retirees. Both locales excel in terms of their outdoor activities and proximity to beautiful natural settings. Palm Springs has a bit more consistent climate in terms of temperatures and more renowned golf courses. For those who can’t stand the thought of leaving California, it provides an option to stay while moving out of the big cities. But the battle of Las Vegas vs Palm Springs must be settled! Las Vegas takes home the prize as the better place to retire because of its financial affordability, attractiveness for visiting family and friends, dining, entertainment and recreation options. The fact that you can get greater value for your money due to lower home prices and no state income tax sets it apart from Palm Springs as the better place to retire. Overall Winner: Las Vegas The post Las Vegas vs Palm Springs for Retirement appeared first on Retire Better Now.

    • 9 Tips to Maximize your Retirement Contributions
      by Max Retire | Maximize Retirement on February 18, 2020 at 9:28 pm

      Retirement is one of the biggest, most common and most talked about goals that people have. After all, your retirement savings determine how comfortably you’ll live in retirement and whether your money will outlast you. It is imperative that you try and maximize your retirement contributions right from the very outset of your career in order to build a large enough nest egg that will be able to handle inflation and market volatility not to mention growing life expectancy. Here are our 9 tips to maximize your retirement contributions. 1. Start As Early As You Can No one can deny the power of compounding. The earlier you start saving for retirement the more time you give your money to grow through compounding. For example – if you were to start saving for your retirement at 22 (typical age for someone just starting their career) and contributed just the allowed $19,500 towards a 401K every year or $1625 a month until you turn 62 – assuming 10% interest annually, you would end up with $10,276,628 ($10.3 Million) dollars in your nest egg and (wait for this – drumroll please!!) of which $9,496,628 ($9.5 Million) would be earned as interest. If you give your money enough time to grow even a small amount can make a big difference. Begin today with as much as you can, and then increase your retirement account contributions as your finances improve. The longer your money has to grow, the bigger your nest egg will be. 2. Contribute Regularly Set up automatic contributions through your paycheck so that your contributions are taken care of in the background. If you don’t see it you won’t spend it. If you have a 401K or a SEP IRA through your company more likely than not there would be tools to setup automatic contributions. READY TO MAXIMIZE YOUR RETIREMENT Subscribe to our retirement resources Leave this field empty if you're human: 3. Maximize Employer Match If your company offers a match to your retirement contributions make sure you at least contribute up to the match amount to take full advantage of the company match. This is free money that you don’t want to pass up. Read about 401k limits for 2020. Maximum 401(k) Contribution Limits for 2020 4. Contribute to an IRA If you max out your 401K contributions and have the capacity to contribute more towards retirement then by all means do so by contributing to an IRA. There are certain limitations on deductions you can take for an IRA in 2020 if you are already covered by a retirement plan at work. If you are single you can take a full deduction if your salary is $65k or less, partial deduction between $65k-75K and no deduction above $75k. For married filing joint the limits are full deduction below $104k, partial between $104k-$124k and no deduction over $124k. 5. Contribute to a Roth IRA If you are single and your income is below $124k you can contribute the maximum $6k ($7k for 50 or older) to a Roth IRA. Between income of $124k-139K contributions are reduced and no contributions are allowed if income is above $139k. For married filing jointly the corresponding limits are $196k, $196k-206k and 206k and above. 6. Backdoor IRA to Circumvent Income Limits Here’s a step-by-step guide on how to make a backdoor Roth IRA conversion: Put money after-tax in a traditional IRA account. We would recommend opening up a new IRA account just for conversion purposes if you don’t already have one. Put after-tax contributions up to $6000 (2020 limit) in to this account. Convert the account to a Roth IRA. Convert the above account to a Roth IRA account which basically means that you are transferring the contributions made in to the Traditional IRA account to a ROTH IRA account. If you don’t already have a Roth IRA account then you can create one during the transfer process. Your IRA administrator will give you the instructions and paperwork. Be aware of the pro-rata rule when it comes to backdoor Roth IRA conversions. The pro-rata rule: The IRS requires rollovers from traditional IRAs to Roth IRAs to be done pro rata. Here’s how it works: When determining your tax bill on a conversion from a traditional IRA to a Roth IRA, the IRS is going to look at all of your traditional IRA accounts combined. If all of your traditional IRAs combined consist of, say, 70% pre-tax money and 30% after-tax money, that ratio determines what percentage of the money you convert to a Roth is going to be taxable. In this example, no matter how much money you convert or which IRA account you pull the money from, 70% of the amount you convert to the Roth will be taxable. You can’t choose to convert only after-tax money; the IRS won’t allow it. And a word about timing: the IRS applies the pro-rata rule to your total IRA balance at year-end, not at the time of conversion. 7. Take Advantage of Catch-Up Contributions For those who are at least 50, it’s possible to contribute more money to a tax-advantaged retirement account. Being able to put more money into a 401(k) or IRA can make a big difference, especially as you approach retirement. If you have the additional ability to put more aside in your retirement account, do what you can to use the catch-up contributions to your advantage. You can make catch-up contributions to your traditional or Roth IRA up to $7000 ($1000 extra) for 2020. For your 401k you can make catch up contribution of $6000 if you are 50 or older. 8. Maximize your HSA Contributions The average couple retiring today at age 65 will need close to a whopping $300,000 to cover health care and medical expenses in retirement, according to an estimate by Fidelity assuming lifespans of 87 for a man and 89 for a woman. A Health Savings Account, or HSA, is a unique, tax-advantaged account that can be used to pay for current or future healthcare expenses. If you are enrolled in a high-deductible health insurance plan (HDHP) as defined by the government, you can qualify for an HSA. These plans are re-defined each year by the IRS, which determines the minimum deductible they must have and the maximum amount a plan-holder can spend out-of-pocket. You will be able to set aside a bit for money for future medical expenses in 2020. The new limits for health savings accounts (HSA) for 2020 are going up $50 for individual coverage and $100 for family coverage. The catch-up contribution limit for those over age 55 will remain at $1,000. Read more about HSA contribution limits for 2020. HSA Contributions Limits 2020 Annual contribution limits: For calendar year 2020, the annual limit for HSA savings for an individual with self coverage is $3,550 and for an individual with family coverage it is $7,100. While its intended to accumulate savings for medical expenses it can actually turn out to be an even better savings account than an IRA or a 401K. 9. Allocate Wisely It’s important to realize that, due to increased longevity, there’s a good chance that you’ll need to keep a meaningful percentage of your assets in equities even during retirement. We would suggest a dividend portfolio or a growth equity portfolio with equity mix percentage based on a glide path. Thats a topic for another day. Maximizing your retirement savings is about viewing your retirement holistically from the begin. The earlier you start, and the more consistent your planning, the more likely you are to build lasting wealth. Hopefully our 9 tips for maximizing your retirement savings will give you a head start. The post 9 Tips to Maximize your Retirement Contributions appeared first on Maximize Retirement.

    • Part-Time HR Manager
      by Fix My Pension - Pensions And Retirement Blog on February 18, 2020 at 8:52 pm

        Company:  Job Title:              Part-Time HR Manager Hours:                  Part-Time, Permanent (22.5 hours a week) Location:             Suite 16, Building 6, Croxley Park   The Company are well-established and highly-regarded retirement planning experts whose values include integrity; service and innovation.   We are looking for ambitious people who share our values to join our expanding team; make a difference and help us grow into a national company. In return, offers interesting work; competitive salaries; enhanced holiday entitlement; a paid day-off on your birthday; training and e-learning; opportunities to develop your career and a friendly working environment with great social events.   The Role This is a full generalist role which aims to support growth and increase productivity by driving new talent acquisition; performance and employee engagement initiatives.  The role involves both supporting the leadership team with strategic HR support, as well as the “hands-on” management of day-to-day HR issues and administration.  You will also be responsible for generating management information to help inform more effective decision making.  Our vision is of a “high-touch” model of HR, where each employee and manager at feels supported and empowered to achieve their full potential.   Skills and Experience Proven HR track record of delivering full generalist HR support including recruitment; performance; reward; training & development and employee relations. Exceptional organisational and communication skills is required together with proven leadership capabilities and solid knowledge of employment legislation and its application. HR managers should be proactive team players with strong customer service and problem-solving skills. Experienced in developing and supporting line managers through change. An ability to maintain confidentiality and act with discretion and diplomacy is crucial. Self-motivated and able to work under own autonomy or as part of a team.   Values At we look for people who can demonstrate that they share the following values: Integrity Expertise Service Innovation Teamwork Adaptability   Equality recognises and actively promotes the benefits of a diverse workforce and is committed to treating all employees with dignity and respect regardless of race, gender, disability, age, sexual orientation, religion or belief. We therefore welcome applications from all sections of the community.   Privacy For details of our candidate privacy notice, please see Recruitment Referral Bonus: A recruitment referral bonus of £250 is available to anybody who refers a successful candidate (payable upon successful completion of probation).   Application To apply for this role, please fill in the form below and upload your CV along with a covering letter.

    • Retirement strategies and advice
      by Reddit | Prepare to retire with confidence | Retirement on February 18, 2020 at 8:38 pm

      What do you guys think of using an Index Universal Life Insurance policy as a retirement strategy? Also would you recommend a Roth IRA or Traditional IRA and why? What other strategies can I implement? I would like to avoid paying as many taxes as possible when I retire. submitted by /u/Davidram24 [visit reddit] [comments]

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