Retirement Article

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5 Ways to Boost Your Retirement Income (One Could Make You Rich)

By , Money Morning -

People on Beach

Saving for retirement is a difficult endeavor, especially for people struggling every month to pay their bills. If you're having trouble trying to boost your retirement income, you're not alone.

It's actually rather shocking just how many people are not financially ready to retire. A majority of Americans have less than $1,000 saved up. And according to the Economic Policy Institute, almost half of all families have no retirement account savings at all.

That's why we're bringing readers five ways to supplement your retirement income.

Here's a Million-Dollar Retirement Investing Strategy from the World's Second-Greatest Investor

By , Special Situation Strategist, Money Morning -

I caught an interesting shareholders' meeting last week - the Daily Journal Corp.

If you haven't heard of it, I'm not surprised. It's a sleepy little company, pulls in just $50 million a year in revenue selling newspapers and software products for the legal profession out in California and Arizona.

In other words, Daily Journal is about as far from the flashy FANGs or flavor-of-the-moment Dow movers as you can get and still be a listed company in the United States of America.

The meeting was packed to the rafters. A standing-room crowd of 1,000 people crammed into the hall.

Why such a crowd at a meeting like this?

Well, because the chair of Daily Journal is none other than Charlie Munger himself - the No. 2 guy at Berkshire Hathaway.

Easily one of the world's shrewdest, most successful investors, he's been Warren Buffett's compadre and partner in crime for decades now.

And I think every investor in America could make a mint if they heard what he had to say...

The Biggest Retirement Mistake Investors Still Make and How to Fix It

By , Technical Trading Specialist, Money Morning • @DRBarton_Stocks -

retirement mistake

The most common retirement strategy advisors still give today is "buy a good index mutual fund and hold it forever." That aged approach has been around since I got my start in the markets in the mid-1980s.

Sure, buy and hold is the easiest strategy for a client to follow. After selecting a fund, there is nothing more to do.

That's why it's great for advisors and mutual funds. Keeping your money is their top priority because they get paid based on assets under management, not performance. Plus, redemptions cost funds money and time. For every "sale," they have to deal with paperwork and transaction costs when they sell shares to raise cash for the redemption.

But as investors, taking a buy-and-hold approach with all your retirement assets can be one of the biggest financial mistakes you make.

Today I'll show you the value in taking a more active approach to retirement and give you a few better strategies to grow your nest egg...

This Medicare Quirk Will Eat into Retirees' Social Security Checks in 2018

By , Associate Editor, Money Morning -

Medicare

Recently, the Social Security Administration announced that more than 65 million recipients will get a 2% cost-of-living adjustment (COLA) in 2018.

But a Medicare quirk will keep 70% of beneficiaries from seeing that extra cash.

Here's more on that little-known Medicare stipulation - and how you can boost your returns by 20%, no matter what Uncle Sam is doing...