Tag: retirement

Inflation Can Be a Scary Word

May 21, 2021

Inflation
There are compelling reasons to adopt a wait-and-see approach

Inflation can be a scary word for people who are retired. It’s code for “prices are going up, but my income may stay the same.” (more…)

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Buffett and Powell Talk Inflation

May 10, 2021

The Oracle of Omaha and the Fed Chair seem to be at odds

What does it mean when two of the most powerful voices in American financial life seem to be saying two different things?

In one corner, we have the “Oracle of Omaha,” investor Warren Buffett. As one of the nation’s richest people and most frequently sought opinions on business matters, he’s a voice that gets a great deal of attention. He says that prices are going up. (more…)

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Retirement Planning Questions That Have Nothing to Do With Money

Feb 10, 2021

retirement planning charlotte nc
Think about these factors before you leave work for the last time

Retirement planning is not entirely financial. Your degree of happiness in your “second act” may depend on some factors that don’t come with an obvious price tag. Here are some non-monetary factors to consider as you plan your retirement. (more…)

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2020 IRA Deadlines Are Approaching

Feb 5, 2021

April 15 IRS IRA Deadlines
Here is what you need to know

Financially, many of us associate April with taxes – but we should also associate December with important IRA deadlines.

 

December 31, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.

    

April 15, 2021 is the deadline for making annual contributions to a traditional IRA, Roth IRA, and certain other retirement accounts.1  (more…)

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Eight Retirement Mistakes to Avoid

Jan 18, 2021

retirement mistakes spilling coffee over desk of papers
Will you avoid these retirement mistakes?

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible.

No Strategy.

Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there – and if you’ve even arrived. Creating a strategy may increase your potential for success, both before and after retirement. (more…)

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IRA Contribution Deadlines are Approaching

Jan 4, 2021

IRA Contributions
Here’s what you need to know

Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. From current and previous IRA contribution deadlines, to RMD deadlines, keep an eye on the calendar.

April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.

Keep in mind that withdrawals from traditional, SIMPLE, and SEP-IRAs are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty. (more…)

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Building a Healthy Financial Foundation

Dec 11, 2020

When you read about money matters, you will sometimes see the phrase, “getting your financial house in order.” What exactly does that mean?  When your financial “house is in order,” it means it is built on a solid foundation. It means that you have six fundamental “pillars” in place that are either crucial for sustaining your financial well-being or creating wealth. (more…)

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Do Our Emotion or Biases Affect Our Financial Choice

Dec 7, 2020

emotional bias questions
Even the most seasoned investors are prone to their influence

Investors are routinely warned about allowing emotion to influence their decisions. However, they are less routinely cautioned about their preconceptions and biases that may color their financial choices.

In a battle between the facts & biases, our biases may win. If we acknowledge this tendency, we may be able to avoid some unexamined choices when it comes to personal finance. It may actually “pay” to recognize blind spots and biases with investing. Here are some common examples of bias creeping into our financial lives. (more…)

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Cash Balance Plans

Dec 4, 2020

Piggy Bank money on skateboard
Should professional practices look into them?

In corporate America, pension plans may be fading away. Only 14% of Fortune 500 companies offered them to full-time employees in 2019. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by adopting cash balance plans.1 (more…)

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Do Main Street Self-Employed Individuals Need a Wall Street Strategy?

Dec 2, 2020

Wall St vs Main St
How will the self-employed strategize for retirement?

As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive – and for those self-employed, this is paramount.

Self-employed Americans, and the people working for them, account for roughly 30 percent of the nation’s workforce.1

In the best of times, putting aside money for retirement was a challenge for this group. (more…)

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More Insights

Jul 22, 2021

The news keeps getting better for Social Security recipients. It’s now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.1,2

Jul 21, 2021

Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many facets to the process of inheritance that you may not have considered. Here are some things you may want to keep in mind if … Continue reading “Coping with an Inheritance”

Jul 19, 2021

It’s long been an aspirational target for entrepreneurs. It literally goes beyond “blue sky,” in terms of location, to a place no business has gone before: Outer Space! The name of the game is commercial space travel.

Jul 16, 2021

With all the attention given to inflation, stock prices, and job reports, it’s been easy to overlook the remarkable move in the bond market during the past few months as bond yields have fallen. The yield on the 10-year treasury closed at 1.37% on Friday, July 9, down from its 2021 high of 1.74% in … Continue reading “The Quiet Fall in Bond Yields”

Jul 14, 2021

On July 6, oil prices reached a six-year high of $76.98 a barrel. This benchmark came as the Organization of the Petroleum Exporting Countries (OPEC) and allies failed to reach an agreement regarding an increase in production.1 This rise in cost follows a year in which OPEC and allies cut production amidst the COVID-19 pandemic. … Continue reading “Oil Prices Hit Six-Year High”

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