Last-Minute Retirement Planning

Not really last minute, but if you haven’t started to prepare for retirement there is no time like the present.

Helping you to make the most of your retirement planning, Smartmoney.com in the article Last-Minute Retirement Planning “Whatever the reason, many baby boomers are just now waking up to the fact that they are underfunded for retirement. Some 58% of Americans age 55 and older have saved less than $100,000, according to the Employee Benefit Research Institute’s latest Retirement Confidence Survey. Only 19% have saved $250,000 or more.

If you’re fiftysomething and underfunded, it’s time to take bold action.”

In addition to maximizing your savings through Roth IRAs, 401 (k), and other investments, there are also other ways to make the most of your retirement. In the article Retirement Planning is More Than Money and Investments the author discusses other important retirement planning considerations, such as how you want to spend your retirement, and where you want to spend it.

As more baby boomers retires they find they are not living the typical retirement of the past. Continuing to work part time, or volunteering with community organizations, to starting new businesses, the options in modern retirement seem endless. In the article Retirement isn’t just a date — it’s a new life, the author discusses how many early retirees find they have time to do whatever they want. After a period of time to relax from the stress and strain of working life the people who retire early find they approach their new lifestyle with vigor.

Retire in style in Mexico

CNN Money reports that more Americans are retiring in Mexico, and as new retirement and resort destinations become available the numbers will grow. According to the US State Dept. over 1 million Americans live in Mexico today, five times the number only 10 years ago.

The enticements to retire in Mexico vary, from good prices on premium real estate, to the low cost of living, to the comforts of American life becoming increasingly available. “Mexico is a foreign setting with a familiar accent,” Bruce Greenberg, an appraiser/market consultant for Mexican real estate, who cites Mexico’s proximity and hospitality as two big draws for Americans.
“There are four major waterfront corridors where Americans live in Mexico, according to Greenberg: southern Baja, from Cabo San Lucas to La Paz; Puerto Vallarta, from San Blas to Manzanillo; Sonora, on the northern arm of the Sea of Cortez, from San Felipe to Puerto Penasco; and the Cancun to Tulum area.”

Retirement planning in your 50s

When it comes to maximizing your retirement funds nothing beats the advice of a knowledgeable accountant. The various ways you can prepare your finances for your retirement with Roth IRAs, 401(k)s, and other investments seems like a maze. In this article CPA Don Taylor gives some excellent advice to a 56 year old who is getting serious about investing towards his retirement.

Click now to learn more about Retirement planning in your 50s.

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Welcome to After50 Finance, with useful information on financial planning and investing after 50.