This Week’s Must Read

Financial advisors are supposed to look out for your best interests, but up until April, investment pros weren’t held to a “fiduciary standard,” which requires them to put their clients’ interest above everything else. The rule was passed by the Department of Laborand takes effect next year. Read the rest of the story.

Yes, you can tap your IRA or 401(k) to cover a home purchase, but it’s important to know the pros and cons first. Read the rest of the story.

3 cases show how it’s possible to receive tens of thousands extra.  By my count, I’ve answered over 1,500 questions about maximizing lifetime Social Security benefits, either online or on the air. But, by their nature, my A’s to people’s Q’s have mostly been general. They haven’t, I fear, provided people with a clear sense

The Social Security full retirement age is 66 for most baby boomers, and you receive a smaller monthly payout if you sign up at a younger age. Some retirees sign up even later in order to qualify for larger monthly payments later in retirement. However, the Medicare eligibility age remains 65. So, if you want

Are you behind on saving for retirement? Even if you don’t know what counts as “behind,” you’re likely to need to step up your efforts to build your nest egg. A June 2015 Government Accountability Office analysis found that that average Americans between the ages of 55 and 64 have accrued about $104,000 in retirement

Before you can reach your lump sum goal, estimate the income required to support the retirement you want.  I’ve every day about market direction, investment recommendations, tax efficiency and insurance requirements. However, the one question I receive more than any other is: “How much will I need to retire?” Read the rest of the story.

Determine how much you need to save If you love to make a good list, this will be your favorite part. Grab a piece of paper or pull up a blank screen, and jot down all your expenses associated with a retirement vision. “Common expenses include housing, food, utility, and healthcare costs,” offered Mary Ryan,

Calculators used by investors to gauge their probability of retirement success may not actually be good gauges of that success.  Comparing the outputs from several retirement planning programs shows a huge dispersion of results, underpinning how investors and advisers should use them as a guide rather than take them at face value. Read the rest

Precisely 240 years ago, a bunch of ragtag colonists declared their independence from the tyranny of a monarchy across the sea. On July 4, we will acknowledge their courage with celebrations all across America. Read the rest of the story.

At 22 years old and having graduated from college just last year, saving for retirement wasn’t a priority for me. Or so I thought. Read the rest of the story.