Archive for May 2021
Looking Forward to Summer and Retirement
If you’re planning on taking a vacation, it’s probably something that you’ve looked forward to for a while now. Maybe you haven’t traveled much since before the pandemic and want to this summer, or maybe you’ve recently retired and just want to relax and enjoy your free time. However you choose to spend your time…Read More
Rising Costs in Retirement: Are You Prepared?
In 1960, a gallon of milk cost 36 cents, and today it costs $3.35 on average. Inflation is to blame, and we could see higher inflation in the coming years. It’s important to have a sense of how much you’ll need to spend in retirement, but this is difficult when future costs and tax rates…Read More
3 Things to Think About Before Buying a Vacation Home
A home is one of the most significant purchases you’ve made in your lifetime, so you should take your time when thinking about buying a second one. Many people have a favorite vacation spot in a scenic area, but they can’t spend a significant amount of time there until they’re retired. If you’re thinking about…Read More
How Much Do You Need to Save for Retirement?
While $1 million is sometimes cited as the ideal number for retirement savings, this assumes a one-size-fits-all approach to retirement planning. Everyone’s retirement goals are unique, and preparing for retirement might not be as simple as saving a certain amount at all. It’s worth taking a more in-depth look at your finances and future…Read More
Rekindle Your Friendships in Retirement
Summer is right around the corner, and you may be making plans. After the isolation of COVID, many of us are excited to get back to traveling, seeing family, and visiting friends. One of the best things about retirement is the free time – in some ways, it’s like a 30-year summer vacation. Or longer!…Read More
Have You Factored Inflation into Your Retirement Plan?
We’ve seen increased government spending due to COVID and significant increases in government debt. Some economists theorize that this could lead to increased inflation, and many claim that we are already seeing the effects. Although the official inflation rate may remain low for now, you may notice price increases of everyday items and services. If…Read More
Will You Have to Retire Earlier Than You Expected To?
If you’re nearing retirement age and know you’re not financially prepared for retirement, your solution may be to work longer. While forgoing an early retirement can be prudent, your career might not last as long as you’d like it to. The pandemic and resulting economic conditions forced 1.9 million workers ages 55 and over out…Read More
Prepare for Taxes On Your Retirement Accounts
The Biden administration has already spent $1.9 trillion on COVID relief and has plans to spend trillions more on infrastructure projects, Medicaid expansion, education, and climate investments. In order to fund these projects, the administration has proposed several tax-increasing measures on corporations and individuals. You may think you won’t have to worry as much…Read More