Damian Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Showing posts with label IRA. Show all posts
Showing posts with label IRA. Show all posts
Monday, September 12, 2016
Top 7 hacks for saving more for retirement
Worrying about having enough retirement savings can keep you up at night. If you've barely put anything away, it's easy to panic or give up on saving altogether. But there's a third option: You can find ways to funnel a few extra bucks into your 401(k) account or your IRA. If you're ready to put more effort into saving, here are seven easy ways to fill your retirement accounts.
Wednesday, May 11, 2016
Meet the "feel free" retirement spending plan
How much can you safely spend each year from your retirement savings without worrying about running out of money? Do you really have enough money saved for retirement? These are critical questions for older workers and retirees to answer, particularly those who don't have substantial pension benefits and are relying on Social Security, 401(k) balances and IRAs for retirement income.
There's evidence that many people are struggling with these questions. For example, a recent survey showed that more than half of all respondents were too optimistic about a safe withdrawal rate. Almost one-third of were wildly overoptimistic and would spend their savings at a rate that would ensure they would almost surely deplete it during their lifetime.
There's evidence that many people are struggling with these questions. For example, a recent survey showed that more than half of all respondents were too optimistic about a safe withdrawal rate. Almost one-third of were wildly overoptimistic and would spend their savings at a rate that would ensure they would almost surely deplete it during their lifetime.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Sunday, April 19, 2015
Heartbreaking Reasons To Save Outside Of A 401k, 403b, Or IRA For Retirement
An advisor friend recently shared two frightening withdrawal requests from retired clients. The first was an $85,000 call for funds to cover rehab costs for an adult child. The lethal combination of depression and alcohol abuse contributed to suicidal thoughts, an inconsistent medication schedule, and a trail of hospital stays and doctor visits. The center treating this individual is among the few that address both mental health issues and addiction, which comes with a hefty price tag.
Damian Sylvia
Managing Partner
Retirement Income Solutions
Subscribe to:
Posts (Atom)