Don’t Have Enough Saved for Retirement? Consider These 3 Aspects
Are you confident that your retirement savings are going to be enough? Have you put aside anything at all for your golden years? If the response to these inquiries is no, our consultants might have solutions to help you restructure your retirement strategy. Here’s what they suggest to enhance your nest egg for retirement: Take […]
The Four Phases of Your Retirement Journey
Retirement is a multi-stage process. The duration and the financial approach to each stage will vary for each individual, making it an intricate subject. However, dissecting it into separate stages can help you understand and execute a smart retirement strategy. In this piece, we will explore every stage of retirement and highlight significant financial events […]
Basic Retirement Planning Tips for Couples
Retirement may be something you’re planning for with a partner. If you are married or are living with someone and you’re both heading into retirement together, there are a lot of things that you’ll need to consider. After all, you’re not just planning for yourself; you’re planning two retirements together! This means you’ll have additional […]
A Refresher on the SECURE Act 2.0 and a Recent Update to It
The SECURE Act 2.0 was a major change in legislation passed in 2022 that drastically affected many areas of retirement planning.[1] It changed rules for many aspects of financial planning concerning retirement, but some of the most important changes were that it: Pushed back the age of RMDs[1] Changed some rules for catch-up contributions[1] Changed […]
When to Consider a Roth IRA Conversion
If you find yourself with a traditional IRA account for your retirement, it can occasionally be useful to convert your account to a Roth IRA. The key difference between these accounts is that a traditional IRA is taxed when it is withdrawn, whereas a Roth IRA is taxed before the money is put into the […]
3 Common Retirement Planning Mistakes
Your golden years are a significant aspect of your life that require diligent saving and considerable contemplation. However, the journey towards this phase can be lengthy and complex, filled with numerous decisions and potential missteps. So, what are some frequent errors you could sidestep? Missing Opportunities for Passive Income A significant number of individuals […]
How Debt Can Affect Your Retirement
Many Americans are approaching their golden years with some level of debt. In 2016, nearly 61% of US citizens were transitioning into retirement while still bearing debt.[1] While one might assume that expenses would naturally decrease after retiring, that isn’t always the case.[1] Sometimes, your costs will remain constant, decrease, or they may rise. It […]
What’s the True Value of Financial Guidance?
If you’ve done any searching on the internet, you’ve probably seen the advice to minimize your financial planning and retirement fees as much as possible. Many outlets for financial explanations and information recommend paying as little as possible to maintain your accounts. In general, many sources recommend a passive, uninvolved investment strategy that minimizes all […]
Where Did Pensions Go?
Before 1978, most retirement plans were set up as pensions. Although the term “pension” can colloquially refer to any kind of retirement account, usually what is meant by “pension” is a defined-benefit plan.[1] “Defined-benefit plan” is a technical term for a retirement plan where an employer guarantees payment of a certain amount when you retire […]
59 ½: The Retirement Turning Point
When you turn 59 ½, there are things that begin to happen. Most importantly: you can begin withdrawing from your retirement accounts, such as 401(k)s and IRAs.[1][2] This age is also very important because it can mark a shift in your investment and retirement strategy. Throughout your career, you are in what many refer to […]