Retirees may have different tastes in culture and recreation, but there are some basic aspects of a retirement living environment that have fairly universal appeal. Getrichslowly.org ranked the 20 best cities for retirement to help you decide where to spend your golden years, coming up with a diverse list, with choices that span across the country. There are some names on the list you might expect, and some that will probably come as a big surprise.

Methodology

Getrichslowly.org took into account the following criteria when deciding where retirees may want to put down roots:

– Personal safety
– Low property taxes
– An affordable cost of living
– A moderate climate

The study looked at where 113 major U.S. cities ranked on each of those criteria, and then averaged those rankings to come up with a list of the 20 best cities for retirement.

With reputations misleading at times, the quantitative approach taken for this study and objective look at the data might cause you to consider a location you would not otherwise think of as a retirement haven.

Best Cities for Retirement 2018

Here is the top 20 list and why each place is great for retirees to settle:

1. Norman, Oklahoma

A college town like the home of University of Oklahoma might not be an obvious choice for a retirement destination. However, an influx of young, well-educated people provides both economic stimulus and cultural diversity to add life to a community. But why did Norman in particular win the top spot on this list? It was above average in each of the four categories examined, and outstanding in two of those categories: cost of living, where it was the second most affordable, and safety, with one of the 10 lowest crime rates.

2. Raleigh, North Carolina

As part of North Carolina's thriving Research Triangle, Raleigh offers healthy growth and a lively cultural and recreational environment. Quantitatively, it placed in the top quartile for safety, affordability and its moderate climate. Also, North Carolina's property taxes are generally well below average.

3. Tampa, Florida

This is one of the more traditional retirement locations on this list, offering a warm climate and proximity to beaches. With its major league sports and plenty of cultural options, Tampa also offers a big-city feel. In terms of the data looked at for this study, Tampa had the most moderate climate statistics, as measured in terms of avoiding extremes of temperatures and rainfall. It also ranked in the top 15 percent for safety, based on violent and property crime rates.

4. Savannah, Georgia

The coastal city of Savannah is so well-regarded for its beauty and architectural landmarks that it has become a popular locale for filming movies and television programs. As for what it can offer to retirees, the greatest strengths identified by this study were its safety and moderate climate, with Savannah ranking in the top 20 percent in both categories. It also is an affordable place to live, with Georgia's property tax burdens and the overall cost of living in Savannah being lower than average.

5. Shreveport, Louisiana

Whether your vision of how you like to spend time in retirement involves a leisurely stroll through a rose garden, checking out some live music, or sampling some distinctive local cuisine, this Louisiana city has something to offer a variety of lifestyles. The study's statistics show Louisiana generally has some of the lowest property tax burdens of any state. In addition, the cost of living in Shreveport is well below the national average. One caution though: Shreveport's overall crime rate is a little higher than that of most cities in this study.

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6. Durham, North Carolina (tie)

Since Durham is generally thought of as a sister city to nearby Raleigh, it is no surprise that it should also earn its way onto this list. Naturally then, Durham shares many of Raleigh's favorable characteristics, though its higher crime rate (while still below that of most cities studied) pushed Durham further down in the rankings.

6. Round Rock, Texas (tie)

Most readers will probably find this to be one of the more obscure names on the list. However, that is one of the merits of crunching the numbers – it can unearth some previously unlikely retirement possibilities. Round Rock is very close to Austin, so it shares many of the latter's attractions, but with a much lower crime rate and a lower overall cost of living.

8. Charleston, South Carolina

History buffs will appreciate Charleston's colonial architecture, while outdoors types will enjoy the fact that Charleston is convenient to both the Atlantic Coast and Francis Marion National Forest. Statistically, what stands out about Charleston for retirees are its low crime rate coupled with South Carolina's generally low property taxes. Be advised though that despite those low taxes the overall cost of living in Charleston is a little higher than in most of the cities studied.

9. Los Angeles, California

The first West Coast city on this list, L.A. has many well-known attractions. Still, you might think that L.A. is too big a city to be very retirement-friendly, but the stats show it has a few things going for it. Perhaps surprisingly, it ranked in the top 5 percent for safety due to its low crime rates. Naturally, the Southern California climate is another plus, and L.A. also benefits from California's generally low property tax burdens. Those low taxes come in handy because, as you might expect from a city of its size, the cost of living in L.A. overall is among the most pricey found in this study.

10. McAllen, Texas

Arts and technology come together to enliven the McAllen community, and it benefits from its proximity to both the Rio Grande and the Gulf of Mexico. It scored well primarily on the strength of having the most affordable cost of living out of any city in this study.

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11. Fort Wayne, Indiana

It's not a warm-weather site, nor is it located on one of the coasts. So what does Fort Wayne have to recommend it to retirees? Primarily affordability, as Fort Wayne was in the top 10 percent of most affordable cities in this survey. It also scored fairly well for safety.

12. San Diego, California

In contrast to Fort Wayne, San Diego is one of those cities many people would think of as a natural retirement choice. So why does San Diego rank below Fort Wayne on this list? Cost of living is the main issue as San Diego is one of the most expensive of the 113 cities studied. However, if you have the wealth to afford it, you might enjoy the fact that San Diego not only ranks in the top 10 percent for climate, but also for safety.

13. Charlotte, North Carolina

North Carolina has the distinction of being the only state with three cities to make the top 20. Charlotte combines a moderate climate with reasonably good rankings for safety and property taxes. The only flaw is the overall cost of living, which is a little on the high side.

14. Lexington, Kentucky

Lexington is close to the state capitol of Frankfort, and is also reasonably convenient to Louisville and Cincinnati. The primary thing that helped Lexington make the top 20 is the city's overall affordability, which is in the cheapest 20 percent of cities studied. Property taxes are relatively reasonable as well, and Lexington also ranked well on the basis of safety.

15. New Orleans, Louisiana

New Orleans is well-known as one of the world's premier party places and for being a veritable gumbo of multi-culturalism, but is it really a suitable place for retirees? Specifically, what about the high-profile crime issues New Orleans has had over the years? Surprisingly, the average crime rate in New Orleans is toward the safer end of the spectrum compared with other major cities, and New Orleans also has a cheaper-than-average cost of living. Most of all, retirees might appreciate Louisiana's low property taxes.

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16. Boise, Idaho (tie)

This is one of the more surprising names on the list, and of course its climate ranks near the bottom. However, this is offset by a very reasonable cost of living and low property taxes, and most of all by safety. Boise's low crime rate put it in the safest 10 percent of cities. There are plenty of warm weather cities on this list if that's your priority, but Boise might be an off-beat choice if affordability and safety are more what you are after.

16. Montgomery, Alabama (tie)

With little or no employment income, many seniors find their biggest tax worry is property tax. That could be a reason to consider retiring to Alabama, which on average has one of the lowest property tax burdens of any state.

18. Richmond, Virginia

While not outstanding in any one area, Richmond made the list by being above-average in all four categories of this study: safety, property taxes, cost of living and climate.

19. Gainesville, Florida

Gainesville scored well for its climate, which being in the northern part of Florida is less rainy than what you are likely to find in the southern part of the state.

20. Columbus, Georgia

Columbus scored well for affordability and its moderate climate. Be advised, though, that it is in the bottom half of the rankings for safety.

Again, there are some surprises on this list, along with more conventional retirement locales. That diversity is a benefit for retirees – not everybody's priority is to move near a beach, so this list provides you with solid candidates representing a variety of very different lifestyles.

Comment: Did your city land on the Best Cities for Retirement? Where are you planning to retire?

There is no shortage of retirement saving advice out there, but do you find it's hard to find advice relevant to your situation when you need it? If so, this guide should help.

Here are a couple of basic ground rules to this guide:

1. This is not financial advice for the rich and famous. As much as financial professionals like to write about the more exotic vehicles and tactics out there, those things have no relevance for most people. This guide is focused on the important fundamentals ordinary wage earners can apply. So, if you are looking for the latest thinking on private equity or offshore tax havens, this isn't the guide for you – but if you are in those markets you probably have advisors who do that kind of research for you anyway.
2. Financial advice changes as you go through life. The moves you need to make as you approach retirement differ from those that make sense when you are first starting your career. For ease of reference, this guide is set up by decade of age, providing suggestions for people in their 20s, 30s, 40s, 50s, 60s, and 70s.

Retirement saving for people in their 20s

Between modest starting salaries and student loan burdens, it may not seem that people in their 20s can make much headway towards retirement savings. However, the key at this phase of your career is to set up some good financial habits that are oriented towards saving. In doing so, you should at least be able to take the first baby steps towards retirement savings. Here are some things you should be doing as you transition from school to the workplace:

1. Know your student loan terms. You know that student loan debt is lurking out there, so better make a plan for dealing with it. Don't be depressed by the sheer amount of it – the whole point behind a loan is to take an overwhelming sum of money and spread it out into manageable payments. Know what your payments are and when they start. Also understand any programs that can ease this burden. For example, federally-backed student loans – and most student loans are backed by the federal government – allow you to sign up for a plan that will limit your payments to 10 percent of your income. This should make your debt burden very manageable even if you are not making much money yet.
2. Implement a budget. Financial success does not happen by accident – it takes planning, Eventually, that will include some long-range retirement planning, but for now just make sure you are in control of your spending from month to month. Budgeting doesn't just help you manage your money, it helps you hang onto more of it by allowing you to minimize charges that result from overspending, such as overdraft fees and credit card interest.
3. Leave room for saving money. When you create your budget, don't just include the obvious bills you have to pay, such as rent, food, and utilities. Those things are necessary, but they involve paying other people. Also leave room for paying yourself by allocating some of your income to savings. If you devote a percentage of your income to savings from the very start, then it will seem less jarring to gradually increase your savings as your income grows.
   
4. Set up direct payroll deposit into a savings account. One way to make sure a portion of your pay actually makes it into savings is to have your pay directly deposited into savings rather than a checking account. You can still move some money from savings into checking for easier access, but doing this rather than having all your pay go directly into checking will encourage you to transfer only a budgeted amount. Meanwhile, this will allow your savings to start earning interest sooner than if you had to wait until you transferred accumulated money from your checking account.
5. Establish – and safeguard – credit. Some people go a little overboard when they first get access to credit in their early 20s, and can spend years paying off the results of overspending. More cautious people shy away from using credit, almost to a fault. The best course for long-term financial health is somewhere in between the extremes. Use credit, but be sure to pay it off on time and in full. Responsible use of credit will allow you to establish a favorable history that will make it cheaper to borrow money when you need to later, such as when you buy a house or a car.
6. Find banks that do the most for you. As you set up your banking relationships, be mindful of the fact that banks offer very different account terms. For example, most checking accounts these days charge a monthly maintenance fee just for having an account, but there are still some checking accounts that don't charge those fees so it's worth looking around (here's a tip – your chances of finding free checking are much better if you look at online banking). Also, savings and CD rates can vary from one bank to another, with some banks offering several times as much interest as others. Consider what you need from a bank, and then look for accounts that offer you those services on the most favorable terms.
7. Sign up for your employer's retirement plan. Retirement may seem to be a long way off, and early in your career you might not have much spare money to devote to long-term saving. Even so, if your employer has a 401k or similar plan, sign up to direct at least a token amount into that account automatically. Having money go directly from your paycheck into a retirement plan is a great way to start the savings habit, and it may make you eligible for matching contributions from your employer, which is basically like getting free money.

Retirement saving for people in their 30s

As you get a little older and your career starts to gain some traction, it is time to get serious about retirement saving. Here are some moves to consider:

1. Use retired debt to jump-start retirement savings. If you've been paying off a student loan, you are used to doing without the portion of your paycheck that's been going towards those payments. Once the loan is paid off, use the amount that had making those payments to add to your retirement savings. You won't miss money you haven't been able to use anyway, and now at least those payments will be going towards your future rather than to the loan company.
2. Maximize your employer's retirement contribution match. Ideally, you should be working towards contributing the legal maximum to your 401k or other retirement plan, but at the very least you should be contributing enough to get the full amount of employer matching contributions. Otherwise, you are leaving money on the table that you have a right to.
3. Consider augmenting your employer's plan with an IRA. Once you start maxing out your 401k contributions, you may be able to supplement those retirement savings with an Individual Retirement Arrangement (IRA). Be sure to check eligibility limits, which are subject to income ceilings. Also, keep in mind that money going into any retirement plan, whether it is a 401k or IRA, is a long-term commitment. If you take money out before you reach age 59 1/2, you will pay a 10 percent penalty on top of any normal income tax liability.
4. Decide between a traditional and a Roth IRA. The basic difference is that with a traditional IRA you can deduct your contribution and not pay taxes on the account until you start to draw money out of it. With a Roth IRA, you pay taxes upfront but then the money can grow tax-free and you will not pay taxes when you start drawing money out upon reaching retirement age. To a large extent, the choice comes down to judging whether you are likely to be in a higher or lower tax bracket when you retire than you are now. Since many young adults are still earning relatively low wages, it may make sense to choose a Roth IRA while you are still in a low tax bracket.
5. Do some preliminary retirement planning. The most important thing is just to start money flowing into retirement savings, but at some point in your 30s you should use a retirement calculator to do some projections to figure out how much you will need to save so you can afford a comfortable retirement. After all, you can't hit a retirement target if you don't know what that target is.
6. Bring retirement contributions up to speed. Once you have figured out some preliminary retirement saving targets, work out a plan to bring your contributions up to those targets. If money is tight now, a good method is to devote a healthy chunk of future wage raises to retirement savings. That way you won't feel as though your take-home pay is taking a step back when you boost your retirement deferrals.
7. Get investments in line with your time horizon. As savings start to build up, you need to give more thought to how to invest those savings. Given the long time until retirement, the majority of your investments should probably be in long-term, growth-oriented assets like stocks.
8. Re-evaluate your banking relationships. Periodically, take a fresh look at your line-up of bank accounts. This is to make sure they are still competitive, and because as your financial situation changes, what you need from a bank might also change.

Retirement saving for people in their 40s

OK – no more excuses. As you enter your 40s, you should be hitting some of your prime earning years, plus you are getting ever-closer to retirement age. It's time for your retirement saving to shift into high gear.

1. Re-calibrate your retirement targets and your life style. Just because you did some retirement planning when you were younger doesn't mean those targets will still fit your plans in your 40s. You now know more about your earning ability and your life style than you did when you were in your 30s, so it is time to update your retirement plan.
2. Consider switching to a traditional IRA. As mentioned in the section for people in their 30s, the choice between a traditional and a Roth IRA largely depends on whether or not you are currently in a high tax bracket. As you move into your 40s and your earnings improve, you may find yourself moving into higher tax brackets. This may justify holding off on any further Roth IRA contributions in favor of starting a traditional IRA.
3. Adjust contribution levels annually according to progress. It is important to recognize that retirement planning is not an exact science. One of the most undependable variables is the investment returns you earn on your savings. Be sure to check progress towards your goals at least annually, so you can boost contributions to catch up if your investment returns have been disappointing. It is important to make these adjustments before your retirement savings get too far behind schedule.
4. Don't back off if you get ahead of schedule. A big mistake people made in the late 1990s was to go slow on their retirement plan deferrals because the stock market was performing so well that they were able to build wealth without having to sacrifice much of their paychecks. Unfortunately, those missing contributions from the prosperous years would have come in handy during what has proven to be an extended period of disappointing market returns during the 21st century. If a good investment year puts your retirement savings a little ahead of schedule, don't take it as a sign to coast. Keep up the contributions, and view the extra returns as a cushion against potential disappointments in the future.
5. Consider using a Health Savings Account to accumulate long-term savings. If you have hit the limits for 401k and IRA contributions, you can accumulate additional tax-advantaged savings via a Health Savings Account (HSA). To be eligible you have to be participating in a High Deductible Health Care Plan, but unlike what many people think, money in an HSA does not have to be used exclusively to pay plan deductibles and other immediate health care expenses. Money in an HSA can continue to grow tax free, and you don't even have to pay taxes on it when you start to withdraw from the account, as long as the money is used for qualifying medical expenses. Given that health care is a major expense in retirement, you should be able to put your accumulated HSA money to good use eventually.

Retirement saving for people in their 50s

You're getting into the home stretch of your career now – which depending on where you stand in retirement saving might mean you can start to take it easy or that you have to pick up the pace. Here are some things to do at this stage:

1. Check your progress towards targets. Given all the variables involved in retirement planning, the passing years represent a considerable amount of time for things to get off track. As time goes by, it is important to keep re-checking your progress to see if any remedial action needs to be taken.
2. Take advantage of “catch-up” contributions. Once you reach age 50, you may be eligible to make so-called “catch-up” contributions to your retirement plan. These are additional contributions over the usual dollar limits that applies to younger contributors. For example, for 2017 people aged 50 and over at the end of the calendar year can contribute an additional $6,000 to a 401k plan, or $1,000 to an IRA. This is an important extra tax benefit that older workers should try to utilize.
3. Embrace a key benefit of age – discounts. People in their 50s often feel young enough to want to resist the idea of aging, but there are certain aspects of it you should embrace – namely discounts and special deals. From preferred pricing on many purchases to no-fee checking accounts, there are a number of money-saving offers that you will become eligible for in your 50s.
4. Reassess your retirement time horizon. By now, you will be in a position to know a lot more about how much longer you will want – or need – to work. This is based both on how you feel physically and emotionally, and on your financial condition. If you now plan on retiring significantly sooner or later than originally planned, your retirement plan will have to be adjusted to reflect this new time horizon.
5. Consider when to adjust your asset allocation. As people approach retirement age, they often start downshifting to a more conservative asset mix. You may not be ready to do this just now, but based on your planned retirement age you should start anticipating when to begin this transition.

Retirement saving for people in their 60s

This a transitional decade for many people, as they pass from active careers to part-time work or retirement. Here are some steps that process entails.

1. Plan for when to access Social Security. You can start receiving Social Security benefits at any time between age 62 and age 70, and the longer you hold out the bigger your benefit will be – though of course, it will also be received over fewer years. When you should apply to begin receiving benefits depends on your immediate needs, of course, but it also depends on your health and your marital status.
2. Make a sustainable plan for drawing on retirement savings. Beyond Social Security, you may have other retirement savings that you will start drawing upon in your 60s. Since you don't know how long you are going to live, come up with a plan that draws on these savings at as sustainable a rate as possible, so you don't use them up to quickly.
3. Consider career extension options. Some people have a need to keep working, while others have a desire to. Think of things that might help you extend your career, such as a downshift in responsibilities, cutting down on hours, becoming an independent contractor, or perhaps tapping into an entirely different skill set.
4. Look into switching back to a Roth IRA if you are continuing to work. If you switch from a full-time career to a part-time job, the resulting drop in income may place you in a lower tax bracket. If you are continuing to contribute to an IRA, see if the tax bracket change means that switching to a Roth IRA makes sense at this point.

Retirement saving for people in their 70s

At this point, your emphasis has probably shifted from building savings to preserving them. Here are some moves to help preserve your retirement savings through your 70s and beyond.

1. Set up required minimum distributions. Most tax-advantaged retirement plans require that you start taking at least a minimum amount out of the plan by age 70 1/2. Make sure you are set up to meet this requirement, but remember, just because you are required to take the money out does not mean you have to spend it. If the required minimum distributions exceed your immediate needs, preserve the money as after-tax savings, because you might need it in later years.
2. Make sure investments are aligned with liquidity needs. As you start to draw money out of retirement plans and other savings, make sure that money is invested in things that will provide sufficient liquidity when it comes time to make your withdrawals.
3. Research long-term care and payment options. Later on, should you need to enter an assisted living or managed care facility, you will find these arrangements can be very expensive. It pays to plan ahead, because it is much easier to gain admittance to such facilities when you are still able to pay for it yourself than if you become dependent on Medicaid.
4. Set up a burial trust. Becoming eligible for additional government assistance generally requires that you first draw your savings down to a minimal amount. A burial trust is exempt from this requirement, and so allows you to provide for your funeral without leaving the burden to family and friends.

While young adults often assume retirement saving is primarily a concern for older people, notice how there are more new moves to make in your 20s and 30s than later in life. This is typical of the fact that the earlier you start retirement savings, the more options you have for positively impacting your future. Start now, and then stay on the path as you move through your career.

Most people hate to pay taxes. That's not hard to understand. What is baffling is the length people will go to avoid taxes – sometimes, the cost of avoiding taxes exceeds the taxes themselves.

The reason this happens is that for some people, all they have to hear is that a scheme will help them avoid taxes, and they are on board. Remember though, avoiding taxes should not be your ultimate goal. The idea is to earn the best after-tax return. That means avoiding taxes is only worthwhile if the cost and risk involved don't diminish your investment return too much.

In Focus: Section 702 Retirement Programs

These are important issues to examine if you are considering a Section 702 retirement account.

What is a 702 retirement account? It is commonly pitched as a way to accumulate retirement income, tax-free. The real story, though, is more complicated than that.

What is a 702 retirement account?

Technically, Section 702 retirement accounts don't exist. The popular name is a shortening of Section 7702, a portion of the US tax code which pertains to life insurance policies. At heart, that's what these 702 retirement schemes are – life insurance policies which accumulate cash value.

Since life insurance benefits are free from income taxes, they can be a way to accumulate savings without paying taxes. Some policies allow you to access a portion of your accumulated benefit prior to death, which is how they can act as a source of retirement income.

Sounds straight-forward enough, but there's a catch. Actually several catches.

Here's the catch….

A life insurance policy can be a valid method of wealth accumulation, but how effective this is depends on the details. And there are a lot of details. Here are some of the things to understand before committing to a 702 retirement program:

1. Premiums are not deductible. The tax-advantaged angle is simply that benefits accumulate and are paid out tax-free, but unlike contributions to a 401k plan or a traditional IRA, the premiums you pay into a life insurance policy are not deductible. This makes the tax characteristics of a 702 retirement program more similar to those of a Roth IRA, for which contributions are not deductible but investment earnings are not taxed.
2. It's a long-term commitment. If you run into financial difficulties at some point, you may have to stop paying premiums. Depending on the terms of the policy this could substantially reduce or negate the benefits you accrue. In order for a 702 plan to deliver the advertised retirement benefits, you have to be able to commit to making the premium payments on schedule.
3. The extra retirement income isn't really income. Any retirement income produced by a 702 program will reduce the ultimate benefit paid by the insurance policy, since it typically represents a loan or advance against the ultimate death benefit.
4. Accessing that money may be costly. Borrowing against the death benefit is likely to entail an interest cost, which would reduce the ultimate benefit by more than you take out for retirement income.
5. Interest rate risk is especially acute right now. The relationship between the premiums and benefit of the insurance policy would be based on current interest rates, which are very low. This means benefits would accrue at a slow pace. However, if you borrow against that benefit several years in the future, the interest rate by then may well be much higher. This means that the money you borrow could cost you interest at a higher rate than the pace at which benefits are accruing.
6. The long-term return is murky. If that last point left you scratching your head, get used to the confusion. Assessing the benefit of a 702 retirement account depends on being able to figure out the rate of return implied by the relationship between the benefits and the premiums, and the length of time over which both are paid. Until you can figure that out, you don't really know if a given policy is better than conservative vehicles such as CDs or savings accounts, let alone long-term investments like stocks and bonds. In other words, you can't make a blanket judgement about whether 702 programs are good or bad – the answer depends on the specific terms of the insurance policy.
7. There is a stroke-of-the pen risk. The tax-free status of payments out of a 702 retirement account depends on a bit of a tap dance. Benefits from life insurance policies are not taxable. By borrowing against those future benefits, the policy holder can get that tax advantage without having to actually die. This is precisely the type of loophole that tax reforms often target, so there is the risk that with the signing of a new tax law in the future the retirement savings aspect of these policies may become invalidated.
8. There is also counter-party risk. When you have a bank account, your money is guaranteed by the FDIC. When you have a retirement investment account like a 401(k) or an IRA, there are specific assets held for your benefit. In contrast, an insurance policy represents a general obligation of the insurance company, so your benefits are only as secure as that insurance company. To be sure, there are strict rules governing how insurance companies fund their obligations, but as the last financial crisis demonstrated, these safety measures don't always hold up under pressure. Counter-party risk means that the arrangement is only as good as the party on the other side of the deal, in this case the insurance company. When you are contracting for benefits to be paid decades in the future, there is a lot of time for counter-party risk to become an issue.

702 retirement accounts don't appear to offer superior tax characteristics to more traditional retirement programs, such as a 401k plan or an IRA. A 702 program might be a viable option if you are already maxing out your allowable contributions to those retirement programs, and want to amass some savings over and above that.

Related >> How Much to Save for Retirement

Even then, don't sign up for an insurance policy until you have crunched the numbers and figured out that its benefits are likely to offer you a better after-tax return on the premiums you pay than you would earn for CD rates or long-term investments. And, if you find the terms too complicated to understand, then walk away. Financial sales people often like you to feel that there is a mystery to complicated programs that makes them work. Usually though, in the end the only mystery in such cases is where your money went.

Richard Barrington has earned the CFA designation and is a 20-year veteran of the financial industry, including having previously served for over a dozen years as a member of the Executive Committee of Manning & Napier Advisors, Inc. Richard has written extensively on investment and personal finance topics.