Are you really ready to retire?
Before retiring, seniors should ensure that their nest egg will be enough to cover their needs throughout retirement and they are emotionally and socially prepared for major changes in their lifestyle, according to this article on CNNMoney. They should also have a comprehensive retirement income plan and have Medicare or health insurance in place to cover their medical costs. Pre-retirees are also advised to have a well-maintained investment portfolio and a bucket list of activities to do after they retire.

Bloomberg News

Opinion: Can your retirement investments handle ‘fire and fury’?
A major market correction is overdue, but investors can handle it by adopting a long-term approach to investing, writes an expert on MarketWatch. "The best rule of thumb is to build a retirement portfolio that delivers the results you will need over the long-term," explains the expert. "You hold money you might need to withdraw in the next few years in safer investments, and for the money you don’t need for 10-plus years, you maintain a long-term focus and don’t worry about what is happening this week, this month, or even this year in the markets."

How to invest if you're 50 and haven't saved a dime for retirement
It's not too late for clients in their 50s to build their nest egg, as they have more money to sock away in their retirement accounts, they have fewer items in their budget list, and they qualify for catch-up contributions in their workplace retirement plans, according to this article on Motley Fool. The best place to invest their savings is their 401(k) plan, but they may also contribute to an IRA, where their money grows tax-deferred through compounding. Clients who opt for a traditional IRA get upfront tax deduction for the contributions, while those who opt for a Roth IRA enhance their after income in retirement.

How the lives of seniors in the U.S. match up against the rest of the world
The Global Aging Index developed by experts with Columbia University and the University of Southern California shows that, on average, seniors in the U.S. are better off compared with their counterparts in other countries, according to this article on Forbes. However, while older Americans do well in terms of social connections, older adults in some countries fare better in terms of physical well-being and financial and personal security. The index also reveals a wider gap between seniors in better and poorer conditions in the U.S. than in other developed countries.

These 7 real people tell us how they got to $1 million
A couple managed to accumulate $1 million in wealth over the years by starting to save early and opting for automatic savings, including contributing enough to their 401(k) plans to get their employer's match, according to this article on Money. "We have seen the benefits of continuous savings by starting young," says the husband. "We've never tried to time the market. Dollar-cost averaging and automatic savings have gotten us to where we are."