I’M ONE OF THE LUCKY Americans with a pension. I know firsthand the sense of financial security that comes with steady monthly income.
Others don’t have it so easy. I worry a great deal about the majority of Americans—including my four children—who have no pension, and instead will rely on Social Security and their investments for their retirement income. My fear: Even if these folks are saving regularly, they don’t really understand how to invest or how to manage their nest egg once retired.

I’VE READ A LOT of articles about why Americans aren’t saving enough for retirement. Most of the articles lay the blame on our spending habits and the debts we’re servicing.
For instance, some point the finger at the gourmet coffee we buy each morning. Suze Orman says, “You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee.”
Similarly, others point out we’re spending too much on unnecessary items like vacations,

SOCIAL SECURITY remains a great mystery to many Americans and is widely misunderstood. For instance, when Social Security’s trustees release their annual report, we get vastly different interpretations. One group will read the report and conclude there’s a “surplus” and plenty of money to improve benefits. Meanwhile, another concludes that the program is in fiscal trouble and fixing it is vital.
Headlines frequently state the program is going bankrupt. It isn’t. Today’s level of benefits may not be sustainable,

THE CLASH, THE U.K. punk-rock group, famously asked, “Should I stay or should I go?” Retirees and job changers need to tackle the same question when they leave their employer.
At that juncture, you have four options for your 401(k) or 403(b) account: You can leave the balance in your old employer’s plan, roll over the balance to a new employer’s plan, roll over the balance to an IRA or close out the account.

INCOME ANNUITIES ARE a simple, cost-efficient way to generate guaranteed retirement income, and yet they account for just 5% of overall annuity sales. My contention: They can play a unique role in a portfolio—and deserve serious consideration by anyone planning for retirement.
When most people hear the word “annuity,” they cringe, and rightfully so. Over 95% of the annuity market is made up of tax-deferred variable and fixed annuities—investment products that are often complicated and expensive.

I’M PONDERING WHETHER to make my biggest transaction in four years—and it might be the trickiest financial decision I’ve ever made. My quandary: Should I take advantage of today’s low tax rates to convert a big chunk of my traditional IRA to a Roth?
This financial navel-gazing was sparked by an article by John Yeigh, one of HumbleDollar’s contributors. As John pointed out, you can now have a much higher annual income and still avoid the top federal tax brackets,

I VISUALIZED a retirement far different from the one I’ve experienced. Before I quit the workforce, I thought my retirement would be a carefree life where I could do what I want, when I want. I could work, travel, sleep all day. There would be few limits. Why? I had no money issues and few responsibilities.
Today, that seems like a dream. Since retiring, I realize my retirement is constantly changing. Unexpected events and expenses can derail the best-laid plans.

THE INSURANCE MARKET for long-term-care coverage has had a checkered history—and yet there’s an increasing need for LTC insurance among aging baby boomers. My advice: Forget the original standalone insurance products and instead focus on the new hybrid policies.
What went wrong with the original standalone products? They proved to be underpriced. With policyholders living longer, insurers found themselves paying out more than anticipated. Policyholders also didn’t drop their policies as often as insurers expected—and the low lapse rate meant insurance companies had less chance to book profits while incurring no LTC expenses.

HOLDING DOWN LIVING expenses is one part of the equation in achieving financial independence. But the other part is diligently and consistently saving and investing money.
On that score, my husband Jim and I enjoyed four “lucky breaks” that accelerated our push for financial independence. Together, they helped catapult us into early retirement in just 15 years.
1. The Great Recession may have caused much short-term financial harm, but it also offered a great long-term opportunity.

JADAV PAYENG LIVES on a remote river island in India and is eloquently known as “Forest Man.” He has been planting trees his entire life, one at a time, to revive the ecosystem of his native land.
Today, the island is a dense 1,300-acre forest. It’s home to hundreds of thousands of trees and a variety of animals, such as tigers, deer, monkeys and elephants. How did he do it? Payeng credits nature.
In a 2017 interview with NPR,

IN 1914, HENRY FORD approved a new minimum wage of $5 per day for most of his workers. Thousands lined up for jobs. Other businesses were thrown for a loop, as they tried to figure out how to compete for workers.
Ford’s shocking wage wasn’t pure altruism. He wanted to motivate his workers to do a routine, boring job and to reduce employee turnover. The $5 included an advance on profit sharing—another motivating factor.

WELCOME TO HumbleDollar’s new financial life planner, which is designed to complement the portfolio builder we unveiled earlier this year.
The life planner’s goal: Guide you through 13 financial steps that’ll help you navigate the journey from your 20s to your 60s and beyond. Below, you’ll find the first of the life planner’s 13 steps—plus links to the other 12.
Step No. 1: Prep for Success. All too many Americans lead shaky financial lives.

WHILE FINANCES ARE critically important to retirement, it wasn’t the biggest challenge that my wife and I faced. Instead, when I quit the workforce two years ago, a stranger moved into our house.
It was me.
For the prior two years, I had worked in Texas, while my family remained in Maryland, so my son could complete high school there. Even before my temporary Texas move, I worked longish hours, traveled overseas regularly and had lengthy daily commutes.

SITTING IN A COFFEE shop, I struck up conversation with a middle-aged woman. We were talking about winning the lottery and then, as if one thought naturally followed the other, we got onto the topic of retirement. She mentioned how difficult it was for her and her husband to pay the mortgage and the monthly bills.
“After saving for retirement?”  I interjected.
“We can’t save for retirement,” she responded. “Our plan is to get our mortgage paid off,

BABY BOOMERS ARE retiring every day and Generation X is right on their heels. With this, an increasingly large amount of wealth is making its way into IRAs and Roth IRAs, thanks to rollovers from employer retirement plans.
I’ve found that many folks don’t quite grasp the complexities of such accounts. On the surface, they seem pretty simple: You contribute to an IRA or Roth IRA, receive tax-deferred growth and then gradually withdraw the funds during retirement.