Key Takeaway: A good Fidelity Retirement Score is essential to ensuring a secure retirement. It takes into account factors such as investment performance, asset allocation, and expense ratio to determine an overall retirement readiness score. Achieving a good Fidelity Retirement Score requires careful management of your portfolio, including rebalancing, diversification, and maximizing contributions to your…
Key Takeaways: NBA players have a high risk of going broke after retirement due to poor financial management, lack of financial literacy, and high expenses during their playing career. Common financial mistakes made by NBA players include overspending on luxury items, investing in high-risk ventures without proper research, and supporting a large entourage. According to…
Key Takeaway: The legal retirement age in South Africa is 60 years old for most employees, but may differ depending on the industry. Anyone who meets the legal retirement age can retire in South Africa but must apply for retirement benefits through their employer or financial institution. Retirement benefits in South Africa may include lump…
Key Takeaway: Stay physically healthy during Covid-19 by engaging in regular exercise, maintaining a nutritious diet, and following proper Covid-19 safety measures. This can help boost immunity and reduce the risk of Covid-19 infection. Stay mentally healthy during Covid-19 by staying connected with family and friends, engaging in leisure activities, and practicing mindfulness and meditation….
Key Takeaway: Physical effects of aging can impact retirement decisions: decreased physical abilities, chronic conditions, and increased healthcare costs can lead older adults to retire earlier than planned or delay retirement to continue working for healthcare coverage. Societal effects of aging can also impact retirement decisions: changing social roles, financial constraints, and age discrimination in…
Key Takeaway: The current retirement age in Japan is 65 for both men and women, but there are plans to gradually raise the age to 70 due to an aging population and declining birth rates. Factors affecting retirement age in Japan include gender differences, company policies, and social security eligibility. Women often retire earlier than…
Key Takeaway: Retirement Points are a significant factor in qualifying for a VA Loan: Retirement Points are earned by military personnel for their service time and other activities, and can be used to meet the minimum service requirements for VA Loans. Calculating Retirement Points can be complex: Retirement Points are calculated based on a combination…
Key Takeaway: A retirement statement is a document that outlines a person’s retirement benefits and income sources. Components of a retirement statement include retirement benefits, social security benefits, pension plan, savings and investments, and other sources of retirement income. Having a retirement statement can help individuals plan for retirement, make informed financial decisions, and ensure…
Key Takeaway: Length of service and retirement age are the primary factors to consider when computing early retirement pay in the Philippines. The longer the years of service and the older the employee is, the higher the retirement pay will be. Basic salary and other remunerations such as bonuses, allowances, and commissions are also taken…
Key Takeaways: Colors in retirement flowers can convey various meanings and messages, so choosing the right color is important to show respect and appreciation to the retiree. Blue flowers represent calmness, peace, and stability, making them a great choice for retirees who have worked in high-stress environments. Green flowers represent growth, new beginnings, and renewal,…
Key Takeaways: ERISA covers various retirement plans such as defined benefit plans, defined contribution plans, employee stock ownership plans, simplified employee pension plans, cash balance plans, and profit-sharing plans. ERISA provides benefits and protections to employees such as vesting requirements, fiduciary responsibility, plan reporting and disclosure requirements, and participant rights and remedies. There are exemptions…
##Key Takeaways: Key Takeaway: Retirement income is taxable in Pennsylvania in most cases: Social Security benefits, pension and annuity income, IRA and 401(k) withdrawals, income from part-time work, rental income, capital gains, and dividends are all taxable in the state. There are some sources of retirement income that are not taxable in Pennsylvania: these include…