Archives For Retirement

This post is not about earning extra money on the side. Rather, this is about earning regular money, as your main activity, during your retirement. Offcourse not every elderly can perform every one of these jobs. Some of the jobs definitely require certain fitness level. But, there are some ideas here which almost any retiree or senior person can perform while not being at their best fitness level.

Job options for retirees

Elderly at work

Honestly, I do not want to work during my retirement, I hate to even think about it. But, circumstances, family need, health and marital issues, recession or bad investment decision may force us to work even in our retirement. Then, there’s whopping 50% of US employees who do not have enough retirement saving. This article is for those struggling elders.

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On a lazy Sunday afternoon, while SMB was away with her friend, I was looking at the Google Analytics report to research search ranking of my articles. Google Analytics reports the exact search terms used to visit the blog among various other things. One search term caught my attention. It was “I work as a car cleaner how to use my money earn for my future”.

Retirement saving low wage earner

The search term reminded me of the population (extremely poor) for whom we, personal finance bloggers, never write. I can recall two of my posts that may be relevant to the low wage earners, living life under $10,000 a year and live like in 19th Century to be debt free. These articles are of extreme frugality and require you to give up most good things in life to win against all odds.

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I was going through the Scottrade 6th Annual retirement survey for 2012. Compared to 2011 the trend seemed favorable to what we, the personal finance bloggers, want to see. Americans all across the board started saving more, spending less and the participation in tax deferred accounts increased. Boomers, Gen X are planning actively for their future

Retirement Saving

Scene is still not bright for Gen Yers, on the other hand still have a lot to catch up. Today’s young adults fall in this category, age 18 -28, to be precise. As per the survey, only 63% of working class gen Y hold tax deferred retirement account (employer’s 401(k) or IRAs). Still there’s a ray of hope:

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Last time we talked about some do’s and don’ts of annuity investment.  Here’s a story about what to do with your annuity investment, if you are looking for some alternative. Let it be clear that if you are looking to rollover your annuity investment in to an IRA, you can only do it if your original annuity was bought under an IRA investment. Else you can’t roll over this in to an IRA account. Here’s an expert advice from CNN Money explaining the process.

Retirement Saving Options

I do not have any annuity in my retirement portfolio. I was planning to buy one but figured out that we are better served with employer 401(k) and TD Ameritrade IRA account that we have. We are young couple now and we can risk investing in variable return investment in our retirement account. We do not particularly want assured minimum fixed return that a typical annuity offers. If you have an investment already made in annuity and you want to cash out it, may this article help you.

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Over the last decade, many investors have experienced significant losses or underwhelming returns in their retirement accounts because of the violent fluctuations in the stock market. Even those investors who allocated capital into cash investments like CDs or savings accounts have failed to realize returns that have maintained pace with inflation.

Retirement IRA Option
However, those astute investors who placed capital into gold over the past decade have realized tremendous returns in their portfolio. As central governments print money to stimulate the sluggish global economy, the price of the commodity continues to rise. Investing in gold through your 401(k) or IRA retirement account is a savvy tactic for you to protect and growth your wealth.

Why gold?

Traditionally, gold is sold as commodity, but it can be purchased as numismatic coins as well. Unlike other commodities such as coffee or copper, gold doesn’t have many practical applications. Many investment professionals consider this an advantage for the precious metal to maintain its value because it doesn’t depend on a singular industry or sector of the economy. In addition, the price of gold traditionally rises as the price of other asset classes fall. (Related - The Better Investment – Gold or Silver)

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