One thing pre-retirees never talk about but should

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One thing pre-retirees never talk about but should
People who are set to retire should not only focus on money and place where they will spend their golden years, but should also start planning on how they will spend their time, writes a Forbes contributor. "Your future requires some definite planning and new ideas," writes the expert. "Planning out your retirement and reinventing a new life for yourself may involve uncovering some new interests and a new way to live and enjoy your life after you leave the current career behind."

How to get a second chance on your 60-day IRA rollover
IRA investors have 60 days to roll over funds to avoid tax consequences, but there are situations where they qualify for a self-certification waiver, according to this article on MarketWatch. For example, if the delay is caused by an error on the part of the servicing financial institution or by a misplaced distribution check. A misclassified account, severe home damage or a death in the family can also be a basis for taxpayers rolling their IRA assets to get a self-certified waiver.

Patience needed in lower-return environment
An expert says that investors who want to position their portfolios amid a lower-return environment should look beyond domestic stocks and bonds and consider overseas markets, according to this article on Morningstar. A market downturn is not permanent, but investors should be patient, as it could last to the next business cycle, explains the expert. Clients approaching retirement will have to boost their contributions to make up for the shortfall in investment returns.

Tough retirement realities for baby boomers
Most older workers who intend to retire at 65 don't have enough savings to maintain their pre-retirement standard of living, according to this article on CBS Moneywatch, citing a report issued by the Stanford Center on Longevity. Because of limited retirement resources, they are forced to continue working past the age of 65, lower their standard of living or do both, the report states. The findings should be a wake-up call for workers as they start building their nest egg to secure their retirement.

This article originally appeared in Financial Planning.
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Retirement income IRAs Investment returns Investment strategies Stocks