Money Matter$ Blog | Financial Advice Blog from CFCU - Community Financial Credit Union

Tuesday, December 21, 2021

Tips for Retirees: Planning for a Single Retirement

Saving for retirement involves a lot of planning, calculations, and research for every adult. And while you may think retirement would be easier for unmarried individuals, who don’t have to plan for two, the process can still be complicated. Considering that the U.S. Census states that around half of Americans are reaching retirement without a spouse, it’s necessary that we make sure those single retirees are given the same tools to succeed. Thankfully, there are special strategies for retirement savings that can be helpful for those that retire single.

Here’s what you need to know:

Labels: early retirement retirement retirement planning retiring single single retirement Tips for Retirees tips for retirement

Tuesday, November 16, 2021

Is Early Retirement an Option for You?

Picture this: It’s a Monday morning and you wake up naturally to the light coming through your window. It’s a Wednesday afternoon and you’re at home reading books to your grandchildren. It’s Friday and you’re taking in the crisp fall air on a leisurely walk around your neighborhood. With early retirement, you can spend more time with family, enjoy your hobbies, and say goodbye to the 9-5 schedule with a permanent “stay-cation.”

However, early retirement isn’t one-size-fits-all. For many Americans, retiring early sounds like a pipedream. For others, it’s a medical necessity as health problems or family requirements take hold. Whatever the reason you may want to retire early, it’s important to get the facts and start planning early.

Let’s look at a few factors you should consider when deciding if early retirement is an option for you:

Labels: early retirement retirement retirement planning tips for retirement expenses retirement stress stretching money

Tuesday, June 25, 2019

Is FIRE a Realistic Goal for You?

FIRE (Financially Independent, Retire Early) is having a moment, and it’s not hard to understand the appeal. Retiring early, who wouldn’t sign up for that? When you think of retirement age, you probably think of someone in their late 50's or 60's, and there’s a reason for that: it’s the norm. While this is the standard age most people retire, people who strive for FIRE retire much earlier than this, usually in their 30's or 40's.

FIRE isn’t always a realistic goal. There are challenges associated with early retirement that you won’t read about in the accounts of bloggers who have achieved this goal. Also, as you correctly assume, early retirement is not for everyone. Here’s why:

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