4 Numbers That Help You Plan for a Secure Retirement

Try these rules of thumb for your retirement nest egg.

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Damian J. Sylvia
Retirement Income Solution
220 Monmouth Road
Oakhurst, NJ 07755

Why Trump and Clinton Need to Join the Conversation on Retirement Security

Aging is the forgotten megatrend.

This presidential election cycle, perhaps the closest watched in history, has lacked any meaningful discussion of the pressing issues related to longevity and retirement. That’s a shame because issues that candidates choose to talk about can move the needle on public awareness, which is a step toward action.

Continue reading source article here.

Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Quick Way to Give Your Retirement Portfolio a Midyear Checkup

Answer these three questions, and you'll be good to go.

Wimbledon is over, the All-Star game’s history and Brexit hysteria seems to be winding down. Which leaves you with a short window before the arrival of the next bigsummer event—the Olympic games—to perform a quick midyear checkup to ensure your retirement plan is on track. Answering these three key questions will allow you to do just that.

Continue reading article here.

Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Can I Trust Retirement Savings Calculators?

Q: All the online calculators say I’m saving enough for retirement, but how accurate are they? I am 30, contribute 8% of my $75,000 salary to my Roth 401(k). My employer matches 4% and throws in a bonus of another 2% on top. — Dave from Philadelphia

A: Retirement calculators — such as those offered by Bankrate.com,Charles Schwab, or T. Rowe Price— are great for getting a handle on how much you need to save for retirement. But they are only as accurate as the information you supply and the assumptions you make about your future income and savings, when you’ll retire, and the type of retirement you’re hoping for.

Continue reading article here.

Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755 

The 4 Questions You Must Get Right for a Secure Retirement

To stay on track to a comfortable retirement, focus on these four essentials.

Given the flood of often confusing and conflicting information from financial services firms, market pundits and the media, it’s easy to lose sight of what really matters when it comes to retirement planning. No doubt that’s one reason only 32% of American workers surveyed by Personal Capital reported they are very or somewhat prepared for retirement.

Continue reading article here. 

Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Americans Left $24 Billion in Retirement Money on the Table Last Year

The average worker is missing out on more than $1,300 a year. Make sure to get your share.

Personal savings rose last year, as conscientious workers reined in their spending. But a smaller portion of those savings were stashed in employer-sponsored retirement plans, new research shows. This and other recent findings suggest that the much-vaunted 401(k) match may not be the silver bullet for retirement savings that is widely presumed.

Continue reading source article here.

Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755 

Here’s the Unsettling Truth About the Retirement Crisis

It all depends on whether you're on the right side of the retirement divide.

It’s late spring, and retirement surveys are falling like so many cherry blossoms from the trees. Some of the results are profoundly grim, especially for Gen Xers. In one survey, 67% of Gen X respondents felt that the targets for how much you need to retire are way out of reach. Meanwhile, another survey, this one from Transamerica, found that 37% of workers expect one source of income in retirement to be…working.

Continue reading the source article at Time.com.

Damian Sylvia

Managing Partner

Retirement Income Solutions

Why Regular Retirement Saving Can Improve Your Health

More workers who make saving a habit report better health than those who do not. And it's not just about having a high income.

People who save money out of habit are more confident about retirement and better prepared financially, as you might expect. But there’s a sleeper benefit, new research shows. Consistent savers also are in better health—no small matter as longevity stretches out life spans and means you likely will live in retirement more years than you did in childhood.

Continue reading the source article at Time.com.

Damian J. Sylvia

Managing Partner

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

These 4 Rules of Thumb Can Screw Up Your Retirement

Rules of thumb are often partly true—but the part that's wrong can wreck your portfolio. Here's what you need to know.

Retirement planning can get complicated, so we often fall back on rules of thumb, or “heuristics” as economists call them. That approach may work sometimes—and is certainly better than doing nothing—but it can be dangerous too. Here’s what you need to know about four largely-but-not-completely true tenets of retirement planning.

Continue reading source article at Time.com. 

Damian Sylvia

Managing Partner

Retirement Income Solutions

How to Build a $1 Million Retirement Plan

The number of savers with seven-figure workplace retirement plans has doubled over the past two years. Here's how you can become one of them.

The 401(k) was born in 1981 as an obscure IRS regulation that let workers set aside pretax money to supplement their pensions.

Continue reading article at TimeMagazine.com.

Damian Sylvia

Managing Partner

Retirement Income Solutions 

1 in 3 Older Workers Likely to Be Poor or Near Poor in Retirement

Fewer Americans have access to a retirement plan at work. If you're one of them, here's what you can do.

A third of U.S. workers nearing retirement are destined to live in or near poverty after leaving their jobs, new research shows. One underlying cause: a sharp decline in employer-sponsored retirement plans over the past 15 years.

Continue reading article on TimeMagazine.com.

Damian Sylvia

Managing Partner

Retirement Income Solutions

The 3 Secrets to Maxing out Social Security Spousal Benefits

When it comes to social security there are many combinations available. If you need help planning for social security, contact my office at 732-508-6044.

To review a few different scenarios highlighted on TimeMagazine.com, click here.

Damian J. Sylvia
Managing Partner
Retirement Income Solutions

The Secrets to Making a $1 Million Retirement Stash Last

More and more Americans are on target to save seven figures. The next challenge is managing that money once you reach retirement.

More than three decades after the creation of the 401(k), this workplace plan has become the No. 1 way for Americans to save for retirement. And save they have. The average plan balance has hit a record high, and the number of million-dollar-plus 401(k)s has more than doubled since 2012.

Continue reading source article at Time Magazine.

Damian Sylvia

Managing Partner

Retirement Income Solutions

Why Your Empty Nest May Be Hazardous to Your Retirement

You may want to live a little when your kids leave home. But what you do with that money can make or break your retirement, a new study finds.
How well prepared you are for retirement may come down to one simple question: what do you do with money that once would have been spent on your kids?

Continue reading the source article at TimeMagazine.com

5 Ways to Know If You’re on Track to Retire Early

More than any numerical calculation, your financial behaviors are a reliable indicator for early retirement.

Interested in retiring early? How do you know if you’re on track? The usual answer is a financial formula: A given amount of savings, plus some investment return, equals a certain lifestyle, for a certain number of years. It’s simple math. Or is it?

Continue reading the source article at TIMEmagazine.com

Damian Sylvia

Managing Partner

Retirement Income Solutions

9 Great Places to Retire

This year’s Best Places to Retire list may surprise you. None of the typical beach-and-golf spots made the cut. The reason is simple. Most popular retiree destinations score surprisingly low in the factors that help guarantee a financially stable retirement, according to the National Institute on Retirement Security.

To help you find a secure place to spend your post-work years, MONEY limited the Best Places to Retire list to the 12 states ranked highest by the NIRS. The result: 9 winning towns that offer affordable living, great encore career opportunities, and plenty of amenities.

Click here to continue reading the source article at TimeMagazine.com