Years ago, knowing when to retire was easy. Back then, you probably would have taken it for granted that you would retire when you turned 65. Or, if you worked for the same employer your entire career (which was much more common in decades past) you would retire when you had worked enough years to…
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For many people, being retired doesn’t necessarily mean never working again. A growing number of retirees are choosing to start their own business. According to the Ewing Marion Kauffman Foundation, a leading researcher on entrepreneurship, more businesses are started by people ages 55 to 64 than by those under 25. While it is often difficult for…
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Many people move to a smaller house at some point after they retire. Downsizing might make sense for both financial and logistical reasons, but it might not be an advantageous choice in every situation. There are many factors you should consider in order to decide whether downsizing is right for you. Here are some of…
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For many retirees, having enough money to enjoy a satisfying retirement is a major concern. Fortunately, enjoying a happy and fulfilling retirement does not necessarily require spending a lot of money. It’s true that the best things in life are free; for others, there are discounts. Here are 26 steps you can take in your…
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How much money do you need to retire? This is probably one of the most significant questions facing workers approaching retirement age, and it’s not simple to answer. Some experts will tell you that you will need 80 percent, 85 percent or even 100 percent of your pre-retirement income to live comfortably during retirement. Other…
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Are you facing the prospect of a retirement in which the defining characteristic is financial struggle? Are you concerned that you haven’t saved enough for retirement? If so, retiring to a country with a lower cost of living might seem appealing. The internet is awash with stories and articles about how you can live comfortably…
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Are you concerned about having enough money to enjoy a satisfying retirement? At a more basic level, are you worried about having enough money to survive during retirement? If so, you are not alone. Having enough money is the single biggest concern of most retirees. When new people subscribe to Retire Fabulously!, I ask what…
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People have a lot of misperceptions about retirement. I’ve heard a lot of them over the years, and I’ve become especially aware of them since I started reading and researching extensively in order to produce content for this web site. Where do these misperceptions come from? Generally, misperceptions thrive wherever there is a lack of…
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Will working be part of your retirement? Perhaps your answer is not just “no!” but a resounding, “HELL no!!!” It may seem like an oxymoron to see “working” in the same sentence as “retirement.” By definition, isn’t retirement what you do after you stop working? Not necessarily. Retirement comes in many shapes and sizes, and…
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I Started Taking Social Security at 62. Maybe You Should Too.
When I turned 62, I celebrated by filing the paperwork to start receiving my Social Security benefits. This goes against the advice offered by the vast majority of professional advisers. Almost universally, financial advisers recommend delaying your benefits for as long as you can. Yet I have analyzed the numbers and pondered the non-financial aspects…
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