Much of the uncertainty about making your money last longer during retirement comes from the fact that you simply don’t know how long you and your spouse will need to draw upon your retirement savings.
Bayside, NY (PRWEB) February 28, 2012
Personal Finance expert Walter Edelstein, CFP® is providing updated financial information and advice on several important topics including banking advice on how consumers can protect themselves from the growing issue of ATM card skimming, and retirement advice on how to stretch the value of retirement savings. TheAdvice.com Personal Financial Site Network continues to provide consumers with free information and easy to implement practical ideas to help them achieve their personal financial goals.
ATM cards are a convenient and popular way to access funds in bank and checking accounts. But using an ATM card is not without risk. Unfortunately, the practice of “ATM skimming” has become a significant problem in recent years. According to Mr. Edelstein “Even though banks work to protect your accounts from unauthorized access, if your ATM card is skimmed you’ll still be faced with a great deal of stress and hassle in trying to get the issue straightened out.”
Many individuals work very hard to save for retirement but are uncertain about how to use the moneys that have been saved. “Much of the uncertainty about making your money last longer during retirement comes from the fact that you simply don’t know how long you and your spouse will need to draw upon your retirement savings. It’s therefore important that you have a plan for how you’re going to make your retirement savings last as long as possible” according to Edelstein.
ATM skimming occurs when a thief installs a card reader inside the ATM card slot. This device will read the information on an ATM card’s magnetic stripe when inserted into the ATM, so that the thieves can “clone” a card and use it to withdraw money from an account or make purchases at retail stores. Many times consumers are completely unaware that the card has been skimmed, and won’t find out until the account has been compromised. Mr. Edelstein writes about a number of precautions consumers should take when using an unfamiliar ATM.
Running out of money during retirement is something that no one wants to face. Regardless of whether an individual is already retired, or retirement is still a few years away, there are many things that can be done to make the savings accumulated last longer. This article identifies a number of steps consumers can take to make the most of their savings and other accumulated benefits.
About TheAdvice.com Personal Finance Site Network
TheAdvice.com Personal Financial Site Network was launched in 2009, and since then has provided hundreds of free articles and financial tips across a broad array of personal finance topics. Several of the sites in TheAdvice.com Personal Finance Site Network include:
Credit Card Advice – where consumer can learn how to establish credit, protect credit, choose the right credit card, and unlock the secrets of a credit report.
Insurance Advice – where consumers can find answers to many insurance questions including how to secure the right coverage for all home, health, life and automobile insurance needs.
Mr. Edelstein has financial experience that spans over thirty years. It includes being a Certified Financial Planner™, having a Master's Degree from Columbia University, and having served as Chief Marketing Officer for a major online bank where he honed his online marketing skills to help consumers achieve their financial goals.
TheAdvice.com proudly reaches out with this network of personal finance websites to help individuals and families discover the path to financial knowledge.