Retirement Income
When you stop working, you need to switch gears from saving for retirement to determining how to cover your expenses with your retirement income, which may include Social Security, savings, a pension or annuity. Financial planning is important at this stage because you don’t want to outlive your savings.
How to Talk to Aging Parents About Money
Learn how to talk to aging parents about finances, including retirement income, estate planning and ways to approach sensitive money conversations.
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Retirement planning for Black women starts with clear goals, cash flow, smart investing and Social Security choices – so you can retire with confidence.
After decades of relying on a steady paycheck, it can feel overwhelming to think about living on retirement income, especially if you’re carrying debt into these years.
Every October World Financial Planning Day reminds us of a simple truth: managing a monthly budget isn’t enough - you deserve a plan that builds generational wealth, weathers storms, and gives your family peace of mind.
How American workers think about time horizons for work and retirement has also shifted over time.
Work with a CFP® professional to build your savings, pay off debt and optimize your finances to recession-proof your retirement income plan.
Understanding if your Social Security benefit will be adequate to either supplement or solely provide a secure retirement depends on a variety of key factors. However, research from Fidelity estimates many retirees will likely need to rely heavily on their personal savings and pension income to replace about 45% of their pre-retirement income.
Single professional women may have unique challenges when it comes to planning for retirement. By having a plan of action and a knowledgeable guide in a CERTIFIED FINANCIAL PLANNER® professional, single women can have a personalized retirement plan and a resource who can help you navigate complex financial decisions you’ll encounter through life and into retirement.
It’s important to take proactive financial steps now, such as eliminating debt including credit card debt and any other significant debt that could get in the way of arriving at your retirement savings number (the amount of savings you will need to cover your projected retirement expenses).
Many people dream of packing up and moving to somewhere sunny with warmer weather to spend their retirement. However, it's essential to consider several factors before making such a retirement move: aspects like healthcare accessibility, cost of living, taxes, social networks and proximity to family should all be carefully evaluated to ensure a comfortable retirement experience.
Due to the decreased use of pensions, baby boomers are the first generation in history with the freedom — and responsibility — to fund their own retirement, which could last upwards of 30 years. The question: “How to make one’s money work for them when they are done working for their money?” has never been more important.