Tag: retirement

Healthcare Costs are Cutting into Retirement Preparations

Mar 22, 2023

 

health supplements on dollar bill
How healthcare costs affect retirement planning

You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in healthcare costs during the rest of their lives.

In fact, Fidelity now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the big picture of retirement planning.

(more…)

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Rehearsing for Retirement

Mar 6, 2023

Try rehearsing your retirement

 Imagine if you could preview your retirement in advance. In a sense, you can. Financially and mentally, you can “rehearse” for the third act of your life, while still enjoying the second. (more…)

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The Need for Power of Attorney

Feb 24, 2023

Free Hammer Books photo and pictureThe point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf. (more…)

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What Happens When There Are No Beneficiaries

Feb 8, 2023

Blank Book on desk
Where do these accounts and policies end up?

Some accounts have no designated beneficiary. Rarely, the same thing occurs with insurance policies. This is usually an oversight. In exceptional circumstances, it is a choice. Without beneficiaries what happens to these accounts and policies when the original owner dies? (more…)

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Solo 401(k)

Jan 24, 2023

solo 401k clipart man money bag
A retirement investment vehicle designed for small businesses

Do you work for yourself? Then you may want to consider the solo 401(k), which marries a traditional employee retirement savings account to a small-business, profit-sharing plan. To have a solo 401(k), you must either be the lone worker at your business or its only full-time employee.1 (more…)

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SECURE Act 2.0 Passed in Final Days of 2022

Jan 4, 2023

GavelCongress spent the final days of 2022 on new reforms designed to help Americans save more for retirement (SECURE Act 2.0).

You may hear the changes called SECURE Act 2.0, which is a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act enacted into law in late 2019. (more…)

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Starting a Roth IRA for a Teen

Dec 21, 2022

Roth IRA
This early financial decision could prove helpful over time.

Want to give your child or grandchild a great financial start? A Roth IRA might be a choice to consider. There are many reasons why starting a Roth IRA for a teenager may be a sound financial strategy. Read on to learn more about how doing this may benefit both of you. (more…)

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Chapters of Retirement

Dec 19, 2022

Old Watch Book Eyeglasses
The five phases of life after 50 & the considerations that accompany them.

The journey to and through retirement occurs gradually, like successive chapters in a book. Each chapter has its own things to consider. (more…)

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Are You Retiring Within the Next 5 Years

Nov 25, 2022

retireYou can prepare for the transition years in advance. In doing so, you may be better equipped to manage anything unexpected that may come your way. (more…)

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A Roth IRA’s Many Benefits

Oct 19, 2022

Why do so many people choose them over traditional IRAs?

The IRA that changed the whole retirement savings perspective. Since the Roth IRA was introduced in 1998, its popularity has soared. It has become a fixture in many retirement planning strategies because it offers savers so many potential advantages.  (more…)

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More Insights

Mar 29, 2023

Across the country, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they may live off their savings or investments, plus Social Security.  They know this, but many of them do not know when, or how, it will happen. What is missing is a strategy – and a good strategy … Continue reading “Creating a Retirement Strategy”

Mar 27, 2023

Overview As we expected, the Federal Reserve (Fed) raised the fed funds rate by 0.25%, pushing the upper bound to 5.00%. Financial conditions were stable enough for the Federal Open Market Committee (FOMC) to release updated projections, unlike the Fed’s decision back in March 2020 to delay updated projections due to financial instability. Yesterday, the … Continue reading “Market Update: Three Takeaways from the Fed Decision”

Mar 24, 2023

You’ve probably heard the saying that “cash is king,” and that truth applies whether you own a business or not. Most discussions of business and personal “financial planning” involve tomorrow’s goals, but those goals may not be realized without attention to cash flow, today. Management of available cash flow is a key in any kind … Continue reading “Cash Flow Management”

Mar 22, 2023

  You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in healthcare costs during the rest of their lives. In fact, Fidelity now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the big … Continue reading “Healthcare Costs are Cutting into Retirement Preparations”

Mar 20, 2023

When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as well. We consider these your digital assets. A digital footprint of your life – and you need to consider them within your estate planning.

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