News Search Results: Planning
When turning fifty, many of us turn inward and ponder an impossible wish: If only we'd known the importance of stashing away a little bit more of our salary for the past 30 years. Not much at all, really. An extra percent each year would have yielded a sizable, perhaps even enviable, nest egg on which we could confidently support ourselves well past the age of retirement and into our golden years.
For generations, personal finance largely remained a man's responsibility. Society, however, has undergone radical shifts over the past fifty years. As it turns out, financial planning is as much a woman’s issue as it is a man's.
A retirement nest egg, whether it be a 401(k) or similar retirement account, usually takes decades to accumulate. So once you've retired, how long will it actually last? Ideally, it should remain, at least in part, for as long as it's needed. Of course, that all depends on the size of your withdrawals and overall spending habits. However, your spending in retirement may actually be less than you anticipate.
First things first, what does “hedge against inflation” actually mean? It's an investment strategy designed to preserve purchasing power, even as the value of the currency upholding the investments dwindles over time as a result of inflation. In other words, a house you bought in 1970 for $30,000 has likely maintained its value or may have even surpassed it.