Tag: retirement

Will You Have the Retirement you Dreamed Of? | Peter Mehit

~ knjohn ~ Leave a comment

retired peopleNo doubt many baby boomer business owners are looking forward to exiting their businesses and enjoying retirement. Yet many of them will find that what they can make from selling their business will not be what they need to retire comfortably. This can be true even if the business is profitable and has many customers. The five questions discussed briefly below are not all the things that an owner should look at, but they are the some of the major ones. An owner looking to maximize the sale price of their business needs to have a solid answer for each of these questions.

How much do I want (or need) my business to sell for? – Start with this question first. In answering this question, remember that you’ll have lots of time on your hands and will probably want to travel or engage in activities that will take some cash. Add in all your living expenses and you will have a number that is appropriate for the lifestyle you want to live. Add 100% to the number for inflation, changes and emergencies. Now you have a target. Working with a financial planner can help you determine this number with greater accuracy.

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Roth IRAs and the Fear of Future Legislation | The Simple Dollar

~ knjohn ~ Leave a comment

When people realize how incredible the deal is for a Roth IRA, they’re often in disbelief. After all, it lets you earn tax-free income in retirement. No federal income taxes, period, on money taken out of a Roth IRA when you’re at retirement age (and at a few other life opportunities, too).

Before we head too far down this road, let’s touch on what a Roth IRA is. I spelled it out in my earlier Roth IRA basics article, but here are the key things you need to know:

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Saving Too Much For Retirement? Is It Really Possible? | Generation X Finance

~ knjohn ~ Leave a comment

Conventional wisdom tells us it’s impossible to be saving too much for retirement, but is this really true? We’ve been hearing about the need to save more for retirement, and for good reason. Ask many of the Baby Boomers who are getting ready to retire and you’ll find that many of them have come to the realization that they don’t have as much saved up as they had hoped, or that they may need to even put off retirement for a few years.

So, is it possible to save too much for retirement? Of course it is, but it’s far from the norm. The real issue comes from the sacrifices you need to make today in order to plan and save for a retirement that may be decades away. There is a balance in life.

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5 Reasons Why You Will Retire Broke and Unhappy | genxfinance.com

~ lmehit ~ Leave a comment

In a perfect world you will have enough money set aside so that come retirement day you have absolutely nothing to worry about. You’re free to carry out your plans without the added stress of wondering whether or not you’ll have enough money to pay the bills. Unfortunately, most people don’t have this luxury. Instead, they come to the realization that they can’t afford to retire and end up spending the later years in their life unhappy because they have to either keep working or simply don’t have enough money to do any of the things they had hoped. Here are five reasons most people will retire broke and unhappy.

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