One of the tools that seniors and retirees can use to save money is a credit card that offers good rewards. Cash-back credit cards tend to offer the best rewards for most people, especially if you don’t travel a lot. Blue Cash Preferred® Card from American Express For those who spend a lot on groceries, there’s no better card than the Blue Cash Preferred® Card from American Express, which offers 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, 1% after that), 3% at U.S. gas stations and select U.S. department stores, and 1% on other purchases. As a bonus, you can earn $150 back in the form of statement credit after spending $1,000 in purchases in your first three months. Apply by 5/3/17 to earn 10% cash back on purchases at U.S. restaurants in the first 6 months, up to $200 back. Citi® Double Cash Card - 18 month BT offer Another way for seniors and retirees to stretch their dollars the furthest is to use a simple credit card that offers the most cash back on every purchase. The Citi® Double Cash Card - 18 month BT offer from our partner Citi rewards 1% cash back on all charges at the time of purchase, and another 1% cash back when the purchases are paid for. If you're a Bank of America customer, you earn a 10% bonus when redeeming cash back into a Bank of America® checking or savings account. The Costco Anywhere Visa® Card by Citi offers great rates of cash back for purchases made not only at Costco, but at other merchants, too. Click here to learn more and apply for the Costco Anywhere Visa® Card by Citi today!
Your financial life can be divided into two phases: accumulation and distribution. The accumulation phase is when you are earning money, building up your savings in preparation for retirement. This phase begins when you start earning an income and ends when you retire. The distribution phase comes after you retire and you start living on the savings you compiled during the accumulation phase.
The two phases are like climbing a mountain. On the way up – accumulation – your sole focus is reaching the top (the point of retirement). Once you’re standing on the peak, your focus shifts to safely reaching the bottom – the distribution phase.
Reaching the top of a mountain is worth celebrating, but if you don’t know how to get back down, you could be in big trouble.
Retirement Researcher 2017
It’s important to note that retirement is not a one-time event. It encompasses the entire distribution phase.
Our team at Retirement Researcher is focused on helping people make it back down the mountain – the distribution phase in retirement. It can be the most trying, financially vulnerable time of many people’s lives due to the absence of relative stability a regular paycheck provided.
The following eight guidelines serve as a kind of retirement planning philosophy for us in helping people make it safely down the mountain of retirement income:
1. Play the long game
General life expectancy numbers are useful if you’re an actuary, but you shouldn’t base your retirement income plan on them. A retirement income plan should be based on planning to live, not planning to die. A long life is expensive to support,…