Sentences with phrase «relying on your retirement savings»

It may also be a time where you're relying on your retirement savings and / or Social Security benefits to meet your monthly expenses.

Long - term care is expensive, and without long - term care insurance, we'll have to rely on retirement savings.

Not exact matches

If you're relying on the funds from selling your business at retirement and believe you can easily get $ 1 million only to discover your top potential bid is $ 800,000, that dip in savings could highly impact your retirement plan.

You need that investment growth to lift your retirement prospects, as many people won't be able to afford the same lifestyle of their younger days relying on the raw savings from their salary alone.

Often a CCPC owner is relying on those passive investments as retirement savings, much the way a Canadian earning a salary might use a Registered Retirement Savingsavings, much the way a Canadian earning a salary might use a Registered Retirement SavingsSavings Plan.

With the shift from pensions to individual savings, gone are the days when many retirees could rely on a regular check when they retire — and as many as half of all workers lack access to employer - sponsored retirement accounts at all.

Earning even a small amount of income in your retirement years means you don't have to rely 100 percent on your savings to fund your lifestyle, and that in turn means you may be able to retire with a little less in the bank.

As fewer companies offer pensions and Social Security makes up a smaller percentage of the average retiree's income, individuals will have to rely more on their own savings for living in retirement.

This group cites self - funded savings (55 %) as their expected primary source of retirement income, including 43 % who expect to rely on income from 401 (k) s, 403 (b) s and IRAs, and 12 % who have other savings and investments — that's according to the 17th annual Transamerica Retirement Survey of Workers.

After doing things right for us all our lives, thanks to millionaire congressmen, I fear that we need to save all our retirement savings for her, because they're shredding the social contract we've relied on all my life.

b) I consider these funds terrific choices for retirement savings c) After age 55 or 60, you can't automatically rely on target - date formulas any more.

Teachers without Social Security coverage face substantial uncertainty and must rely more heavily on their employer retirement plans (state pensions) and personal savings.

Those aged 18 to 25 tend to have large amounts of credit card and student loan debt upon entering the workforce, and are more likely to rely on high - cost methods of borrowing, which can impede upon future homeownership opportunities and retirement savings.

Or to put it another way: Does it make sense for you or anyone else to rely on this regimen when turning savings in 401 (k) s, IRAs and other retirement accounts into spending cash?

DC plans today are not like yesterday's supplemental, savings - oriented plans and the more we rely on these plans to provide a true retirement, the more we may also change our focus from wealth accumulation to a different goal such as an income - oriented goal.

Rather than attempt the complex calculations necessary to arrive at an optimal strategy for drawing down and spending their retirement savings, retirees rely on easy - to - follow rules of thumb, such as the 4 % rule advocated by some financial planners.

Although cashing in an RRSP might seem like a quick fix for getting out of debt, it's only a band - aid solution that will lead to bigger problems once you're forced to rely on that savings in retirement.

Many of us know that we shouldn't gamble in the stock market, and we also know that we shouldn't just rely on our savings to supply our needs during our retirement years.

When it comes to turning retirement savings into lifetime retirement income, many retirees and advisers rely on the 4 % rule — that is, withdraw 4 % of savings the first year of retirement and increase that amount by inflation each year to maintain purchasing power (although in a concession to today's low yields and expected returns, some are reducing that initial draw to 3 % or even lower to assure they don't deplete their savings too soon).

Both Louis and Mary have relied on work pensions for most of their retirement savings because large pension deductions from their paycheques have reduced their funds for private investment in RRSPs or anything else, for that matter.

Rather than relying on a rule of thumb of 10 % or any other benchmark, I recommend that you go to a good retirement calculator, plug in details about your savings rate and retirement account balances and see where you stand given what you're currently doing.

That figure vary depending on a number of factors, including your tolerance for risk, the size of your nest egg, how long you might live and what resources beyond your savings you can rely on to fund your retirement expenses (pensions, home equity, other investments, etc.).

In retirement, most people rely on a combination of Social Security, retirement plans, and personal savings for income.

To pay the remainder of your expenses in retirement, you can rely on a combination of pension payments — if you're lucky enough to have those promised to you — and your own personal retirement savings.

Let's say that between Social Security and withdrawals from savings you figure you'll have enough money to cover your retirement expenses, but you don't want to find yourself late in retirement having to rely solely on Social Security if you spend through your nest egg more quickly than you expect.

But relying solely on savings during your initial retirement years, while delaying Social Security to get a larger monthly check, is often the smarter strategy.

This model also relies on building up savings during your working life, but it relies more heavily on investments doing well after retirement.

Relying on bank savings often falls short, and having your retirement savings exposed to the ups and downs of the market can be nerve - racking.

But without a company pension of any kind, Marc is relying on himself and his own investment know - how to pad retirement savings for the couple.

Personal savings won't be enough so more than half of Canadians will rely on part - time income and CPP to fund their retirement.

The consequence of all this is that even middle - income Canadians will have to rely more heavily on workplace and personal retirement savings to pay for expenses once they leave the working world.

But the think - tank points out that by taking into account those who only have private savings for retirement — as opposed to those who can rely on a workplace plan — then contribution rates are much higher.

And while small business owners may be tempted to rely on the success of their business as their sole source of income and retirement savings or only diversify their portfolios among stocks and bonds, there are other options they should consider to secure their retirement savings in today's market.

When you retire, make sure you can rely on the savings accounts you have in place, like an individual retirement account or a 401 (k); these should still be the primary way you fund your retirement.

If you are not financially prepared for emergencies, then you may be forced to rely on high - interest credit cards, or tap into your retirement savings in order to get by.

However, many feel that both the federal and Quebec governments should have enhanced the existing CPP and QPP retirement systems instead rather than rely on employees to contribute to a savings - type scheme.

When you retire, make sure you can rely on the savings accounts you have in place, like an individual retirement account or a 401 (k); these should still be the primary way you fund your retirement.