What's your advice for enjoying a comfortable retirement without financial regrets? I posed that question to readers in a column about the "secret sauce" to cooking up a satisfying retirement (see "Living in Retirement," Dec.). Many thanks for the flood of responses, which generally fell into two categories: financial and social. This month I'll pass along your financial advice, and next time I'll offer your recipes for a healthy social life in retirement.
Overall, "the 'secret sauce' you wrote about was so spot on," writes reader David Gelb. "We followed the formula to a T: We started investing in mutual funds when we were in our early thirties, lived below our means most of our working lives, maxed out our 401(k) contributions when we could, never carried any debt other than our mortgage (which we paid off two years prior to retiring)." In addition, Gelb says, they "sought the advice of a professional money manager for a portion of our investments as we neared retirement." Many of you added your own personal spin to that guidance. "Remember that it's a marathon and not a sprint," writes one reader. "Regarding investments, aim for singles; don't swing for the fences."
Denne historien er fra April 2023-utgaven av Kiplinger's Personal Finance.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April 2023-utgaven av Kiplinger's Personal Finance.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
FREE HELP FOR COLLEGEBOUND STUDENTS
This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS
ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.
Strategies for Novice Investors
AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.
ANSWERS TO YOUR 529 PLAN QUESTIONS
Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.
Rate-Cut Winners and Losers
NOW that the Federal Reserve has cracked the interest rate ice, the next development will be to separate winners from losers.
SHOULD YOU BUY THESE RED-HOT FUNDS?
Covered-call ETFs are popular but come with plenty of caveats.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.
IS A 55+ COMMUNITY RIGHT FOR YOU?
These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.
AT LONG LAST, RATES ARE DROPPING
Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.
