Taylor Schulte

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The secret to your retirement income could live in your home’s equity. While saving for retirement is a major financial goal for many, not everyone saves or is able to save enough money to live on by the time they hit retirement age, leaving them wondering how they will manage to pay for living expenses and any unexpected costs that might crop up. A reverse mortgage is one solution to this problem. Instead of making mortgage payments to their lender, homeowners can relinquish their home’s equity back to the lender in exchange for payments they can use to cover their expenses. This can be a tempting solution if you’re worried about how you’ll cover costs during retirement, but it’s not the only solution for supplementing your income, and it may not be right for everyone. So how can you know if it’s right for you? Here, six financial experts from Kiplinger Advisor Collective shed light on the pros and cons of a reverse mortgage and offer up critical questions you should ask yourself first before deciding whether or not to take on this type of solution.

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Choosing the right account for your needs is a great first step to kick-starting your retirement savings. Saving for retirement is an important step for anyone who hopes to stop working after a certain age. However, while many people understand the importance of retirement savings as part of their financial journey, they may not always understand the best way to go about it. Though putting your retirement savings into a standard savings account may seem like an easy option, several other, more advantageous accounts exist that can help you reach your retirement goals faster — and may help you avoid more taxes down the line. But which account is right for you? When offering advice and discussing options with their own clients, the financial leaders of Kiplinger Advisor Collective have a few favorites in mind. Below, they go over seven different accounts you can choose from to kick-start your retirement savings, and why they recommend these solutions to anyone looking into their ideal retirement plan.

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Steering clear of these mistakes will save you a lot of regret once you reach retirement age. Saving for retirement is one of the most important aspects of managing your finances, and getting started can be as simple as signing up for your company’s 401(k) program. But while setting aside money to live on after you retire from work may seem straightforward, there are definitely still some mistakes you can make along the way.  Some of those mistakes may have little to no effect on your overall savings strategy, but others — like putting off saving too long in favor of other goals or following a plan ill-suited to your unique situation — can have a major impact on the amount of money you’re able to save or the amount of taxes you’ll have to pay once you’re of retirement age.  To provide some guidance and shed light on the do’s and don’ts of retirement savings, the financial experts of Kiplinger Advisor Collective each discuss one thing someone should never do while saving for retirement, and why doing so can ultimately derail your success.

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While talks of a recession, mass job layoffs and housing market uncertainty may be making would-be investors timid when it comes to investing in the current economic climate, in any market, there will always be those industries which continue to thrive and innovate despite any obstacles. Driven by cultural and consumer needs and interests, these promising sectors remain ripe for growth and investment.  As leaders in the finance and investment community, the members of Kiplinger Advisor Collective have a few thoughts of their own when it comes to promising industries in today’s economy. Here, they share their top sectors for growth and investment—from cybersecurity to energy transition and various industries in between—and why they believe these areas show so much potential.