Jeff Snell

When should you make ‘course corrections’ to your retirement plan?

Financial Planning, Retirement

Course corrections — whether you’re flying to the moon or sailing across an ocean or just shopping for groceries — are a necessary part of life.

Consider, for instance, the historic Apollo 11 flight plan in which there are 13 references to the term “course correction.” Without those and other course corrections, it’s unlikely the astronauts would have reached their goals of walking on the moon and then returning safely to Earth.

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Your retirement planning starts with Social Security

Retirement, Social Security

Right now is the perfect time to start planning for a secure, comfortable retirement. And you can count on Social Security to help you begin the process.

First, we encourage you to set up an online my Social Security account so you can verify your lifetime earnings record and make sure you get credit for all of your contributions to the Social Security system through the Federal Insurance Contributions Act (FICA) payroll taxes. If you haven’t set up your personal my Social Security account yet, you can do so at www.socialsecurity.gov/myaccount.

Read the entire article: Your retirement planning starts with Social Security – Journal Advocate

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How To Get The Most Out Of Retirement

Lifestyle, Retirement

The best thing about retirement, I have found, is that for the first time in my life I’m in charge of my time. From kindergarten through college, from that first to that last job, my time and tasks have been governed by others.

Now that I’m a couple of years into retirement, I decide what I’ll do and when I’ll do it.

 As liberating as this may sound, you still should be strategic in planning how you are going to spend the next couple of decades.

Read the entire article: How To Get The Most Out Of Retirement

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A healthy mind is important for well-being in later life finds new study

Health & Fitness, Lifestyle

New European research suggests that psychosocial factors such as anxiety and depression may have an even larger impact on well-being in later life than physical health. The participants’ levels of subjective well-being were measured by a questionnaire from the World Health Organization with the

Read the entire article: A healthy mind is important for well-being in later life finds new study

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6 Things To Do 6 Years Before Retiring

Financial Planning, Retirement

Congratulations! At your 60th birthday, you’ve actually entered your seventh decade of living. We hope that you have given some thought to your retirement by now and made significant plans toward meeting your retirement goals. If so, age 60 is a good milestone to trigger a review of your retirement plans. (If not, start planning immediately, because you are rapidly running out of time.)

Now is the perfect time to think about your post-career life and take some meaningful actions. Here are six steps at 60 that can guide you toward a happy retirement.

1. Review/Create Your Retirement Plans – What does retirement mean to you? Whether it’s relaxation, travel, a second career, or some other pursuit, outline what you plan to do in retirement now that the end of your career is in sight. You need to firm up your plans in order to perform the next steps

Read the entire article: 6 Things To Do 6 Years Before Retiring

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Reports of a US retirement crisis are off the mark: Think tank study

Lifestyle, Retirement

These days, hardly anybody believes the American retirement dream is doing all right. In fact, 88 percent of Americans agree that the nation faces a retirement crisis, according to a 2017 survey by the Washington, D.C.-based National Institute on Retirement Security pension research group.

However, a small but vocal group of scholars is advancing an opposing viewpoint. They say Americans’ chances for financial security in retirement are in better shape than is commonly supposed.

Read the entire article: Reports of a US retirement crisis are off the mark: Think tank study

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6 Retirement Planning Deadlines You Must Know

Financial Planning, Social Security

The most important retirement date is the actual date you get to stop working — but there are other retirement planning dates that are extremely important as well. Keep these deadlines in mind as you plan for your retirement:

Required minimum distributions: You must start taking minimum distributions from 401(k) and traditional IRA accounts when you are 70.5 years old, but you can wait until April 1 of the year after you turn 70.5 to take your first required minimum distribution from your retirement accounts. (Then all subsequent distributions are due by Dec. 31.) Delaying your first required distribution could mean taking two required withdrawals in the same year, potentially increasing your tax burden.

Keep in mind you do not have to take minimum distributions from your Roth IRA.

Stop contributing to a traditional IRA: Once you begin to take required minimum distributions from a traditional IRA at age 70.5 you can no longer contribute to a traditional IRA. But if your spouse is younger and still eligible to make contributions, he or she can contribute to your IRA by making a spousal contribution.

Read the entire article: 6 Retirement Planning Deadlines You Must Know

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Working Beyond 65 — Will You Want To Or Need To?

Retirement

Many of us work with two kinds of coworkers – those who say they can’t wait to retire and those who swear they love their jobs so much they plan to die at their desks. I get the first group.

Who doesn’t want to retire to a life of leisure without alarm clocks, meetings, conference calls, and commuting in traffic?

The second group, however, I view with a somewhat skeptical eye. Sure, some of us have dream jobs that we can’t wait to dive into every day and we would be very happy working in them until we are

Read the entire article: Working Beyond 65 — Will You Want To Or Need To?

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6 Trends That Are Changing Retirement in America

Lifestyle, Retirement

During the course of your working career, technology and globalization have changed the work environment in countless ways. Many societal changes have impacted your personal life as well. It should come as no surprise that many of these same factors have also changed the retirement landscape.

Some changes are positive, others are unwelcome and some are simply different. But viewed as a whole, your retirement will be significantly different from your parents’ and your grandparents’ retirement. Here are six trends that are reshaping retirement.

Read the entire article: 6 Trends That Are Changing Retirement in America | On Retirement | US News

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Voyagers Complete 3-year Trip Around the World in a Polynesian Canoe With No Modern Technology

Lifestyle, Travel

Thanks to all our modern conveniences — GPS, Google Maps, self-driving cars, automatic pilot — traveling around the world has become easier than ever before. But what if all that went away? Would humanity still be able to figure out how to get from point A to point B?For one group of explorers, the answer is yes: Using absolutely no modern-day technology, they navigated a Polynesian canoe all the way around the globe.

As the Associated Press reported, the ship, which started its trip in 2014, had about a dozen crewmembers onboard for each leg of the global journey. The crew used their knowledge of currents, birds, wind, and the stars to sail nearly 40,000 nautical miles, making stops in 19 countries.

Read the entire article: Voyagers Complete 3-year Trip Around the World in a Polynesian Canoe With No Modern Technology | Travel + Leisure

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Airline gate agents share their favorite travel hacks

Travel

Airline customer service reps know a thing or two about travel. From the moment you step into the airport to when you finally board your flight, it’s these airport workers’ job to help you successfully navigate getting from point A to point B.

What’s more, with the perks that come along with working for an airline, like free or discounted flights, many of these agents have quite a bit of travel experience themselves. So, who better to turn to for travel tips and tricks than the people with extensive knowledge on the matter?

We asked airline gate agents, ticket agents, and other airport customer service reps to share their best travel hacks with us, and scoured the internet for more.

Read the entire article: Airline gate agents share their favorite travel hacks – Business Insider

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Pauline Frommer: 13 Expert Budget Travel Tips | Money

Lifestyle, Travel

Before you lock in those summer travel plans, make sure you’re getting the most bang out of your travel buck. Here are are 13 favorite tips from Pauline Frommer of travel-guide company Frommer’s on where to scrimp and splurge when planning a vacation and how to get the best rates on airfare, car rentals and lodging.

1. For airline tickets, check Momondo first. Frommer’s compared prices quoted by airfare search engines, aggregators and booking websites on 25 popular routes, both for last-minute flights and those booked six weeks ahead. The results? Momondo is the best place to find the cheapest airfare. Skyscanner came in second. Frommer’s ran a similar test for hotel booking sites and found that Booking.com came out on top, especially for travelers looking for city-center spots under $200 a night.

2. Accept a little discomfort in the air. “I think it is a huge waste of money to buy business class or first class unless you’re 6’4″ and will be in incredible agony,” says Frommer, co-president and editorial director of Frommer’s. “People concentrate too much on the flight. It is a couple of hours and then you’re in this wonderful destination. So if it is between getting a business class seat and eating a meal in a spectacular restaurant or seeing a show, the hell with business class.

3. Always carry on. “You do not want to be a slave to your suitcase. I only own carry-on luggage and that forces me to pack less than I would have normally and you just wear things over and over,” says Frommer. Packing light delivers three big advantages: You avoid costly airline baggage fees, skip wasting time waiting at baggage claim, and can use public transit easily to get from the airport to your destination or from one city to another.

Read the entire article: Pauline Frommer: 13 Expert Budget Travel Tips | Money

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Don’t leave work without laying out a ‘retirement map’

Financial Planning, Retirement, Travel

Can you imagine going on an extended vacation without making any plans?

No websites or tour guides consulted. No hotel reservations made. No itinerary mapped out.

Of course not. If you wanted your vacation to be a success, you’d budget enough money to cover your costs. You’d know when you were going, how long you could stay and at least generally what you would do while there.

But when it comes to the longest vacation most people will ever take — retirement — fewer than half of all Americans have a formal plan.

And that can spell trouble.

There’s nothing worse than being 85 years old, full of life — and being flat broke.

Read the entire article: Don’t leave work without laying out a ‘retirement map’ – NY Daily News

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