Life has changed for many Americans at or near retirement over the past two years. People lost jobs, health concerns abounded, and this all resulted in uncertainty and fear for boomers’ financial future. How can you help prevent financial doom and design the life you want? It starts with facing your fears. What keeps you …
Saving money is often mentioned as one of the core steps toward financial success. Also important is deciding where to save money, as there are numerous options to consider. 401(k)s, IRAs, Roth IRAs, nonqualified accounts, and others have their own rules, benefits, and tax implications. Among all of these, though, there is one account that …
The Ultimate Retirement Account? Making The Most Of Your HSA Read More »
If investing and saving for retirement were based solely on objective mathematics, a healthy nest egg could be a forgone conclusion for many of us. Realistically, however, investors are human beings, with wants, feelings, conflicting priorities, and a wide range of emotions. In fact, a subfield of behavioral economics called behavioral finance studies how psychological …
The Great Resignation is translating into a flood of early retirements. When people decide to retire suddenly, there are challenges and roadblocks that can cost the retiree dearly. Many of these challenges are dependent on what age you are when you leave employment. For example, you can’t access your Social Security until age 62, and …
Retiring Early: New IRS Rules Could Mean More Money In Your Wallet Read More »
You can’t control the market, how long you’re going to live, inflation, healthcare costs, your healthcare needs, tax changes, pension or Social Security solvency, economic shifts, government intervention, and the list goes on. There is so much uncertainty in life. All this uncertainty surrounding retirement is why annuities are so popular. They are a way …
What comes to your mind when you hear the word “retirement”? Do you think of traveling the world or hosting a family game night with the grandkids? Are you picturing dinners at deluxe restaurants or around the kitchen table? Retirement can span decades, and it changes as you age. Everyone’s retirement will look different, but …
For many people, one of the most daunting financial challenges in life is figuring out how to pivot into retirement. It’s quite a leap to move from earning a paycheck to being responsible for generating your own stream of income and regulating how to spend down your savings. In a 2020 Schwab study, nearly three …
Traveling the world is a part of many people’s retirement plan. As we head into peak summer travel season – with the pandemic largely in the rearview mirror – many retirees are looking forward to being out on the road vacationing. Jetting off to different parts of the world may sound extravagant, but travel does …
Choosing a financial advisor is a major life decision that can determine your financial trajectory for years to come. A 2020 Northwestern Mutual study found that 71% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.1 The value of working with a financial advisor varies …
6 Mistakes People Make When Choosing A Financial Advisor Read More »
This is the decade when retirement gets redefined. The era of trading a long career for a pension, a gold watch, and afternoons on the golf course ended long ago. In its place, today’s retirees face growing financial pressure from multiple directions, including the local fiscal crises for Social Security and Medicare. These financial pressures …
