Retirement Planning
The Most Important Ages for Your Retirement Accounts
If you have a 401(k), IRA, or other retirement accounts, it’s important to keep a few things top of mind: Know how much you’re contributing, how your investments are performing, and how much you’re paying in fees. You should also note important milestone ages and their recent changes. Here are the most important ages for…
Read MoreRetirement Has Changed – Have Your Plans?
People are retiring differently today than in the past – just think, will you retire exactly like your parents did? Probably not. Retirement is no longer about the end of a career; it’s about the beginning of a new, often quite active phase of life that could last decades. And while this is something to…
Read MorePractical Tips for Starting Your Retirement Off on the Right Foot
Retirement planning can be stressful because there are a lot of things to keep track of. One of the steps that often gets overlooked is announcing to your employer that you are going to retire. This may require writing a letter to explain your plans while also choosing a date for your last day of…
Read More4 Major Retirement Challenges to Overcome
Today’s retirees may be the richest the world has ever seen with Baby Boomers holding more than half of U.S. household wealth as of the end of 2020.[1] While you may be looking forward to traveling, working on your golf game, or retiring early to enjoy more free time, you first have to overcome some…
Read MoreRising Costs in Retirement: Are You Prepared?
In 1960, a gallon of milk cost 36 cents, and today it costs $3.35 on average.[1] 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 MoreHow 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 MoreHave 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 MoreWill 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 MoreHave You Solved Your Retirement Puzzle?
Have you ever been totally stumped by a puzzle or brain-teaser? Maybe that’s why we’re impressed by people who can solve a Rubix Cube in seconds, or finish a thousand-piece jigsaw puzzle, or do the Sunday crossword puzzle in pen. But, if you talk to a lifelong puzzle master, they’ll tell you there’s no magic…
Read MoreDon’t Forget About These Big Retirement Expenses
The rule of thumb says you’ll need about 80% of your pre-retirement income in retirement, but everyone is different. Many retirees want to upgrade their lifestyle in retirement or maintain their current lifestyle. In fact, a recent study shows that about one in three retirees actually spent more than they expected they would when they…
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