Retirement
A significant number of Americans rely on their Social Security benefits as their sole or primary source of income. While that may seem like a startling statistic, it is not as bad as it may sound — depending on where you live. When it comes to Social Security and retirement, the cost of living can […]
Estate planning is a crucial aspect of securing your assets and ensuring your loved ones are taken care of after you pass away. Two primary instruments used for estate planning are trusts and wills. Although both serve similar purposes, they have distinct features that cater to different needs. In this blog, we’ll explore the key […]
The phrase, “location, location, location” usually refers to real estate transactions. It can also be used to explain the main budgeting consideration when developing a sustainable retirement plan. The cost of retiring increases incrementally every year. Relative cost of living expenses and inflation must be considered when calculating a retirment budget. And for many retirees, […]
Financial markets often are directly correlated to the macroeconomic, social and political factors far out of our control. Herds of investors are prone to reacting in extremes whenever these macro factors exhibit sudden change. The coronavirus shutdowns are a prime example. But the same factors — fear, panic, herd mentality — drove the declines in […]
As you approach the age of 50, it’s essential to start planning for your financial future. This includes making smart financial moves that will help you secure your finances for the years to come. Here are five financial moves that a person over 50 should make immediately. Review and update your retirement plan By the […]
There was a time when American workers could simply rely on company-run pension plans for their retirement planning. But now that employees have the freedom to call the shots when it comes to saving and investing their own money, things don’t seem that easy. Most people make a lot of mistakes while preparing for retirement, […]
As well all know, expenses may change from one year to the next, and the amount you spend may change throughout retirement as well. That’s why, for many current and future retirees, knowing what retirement income will be taxed is important as you plan for future needs. Here are four common sources of retirement income […]
According to the Retirement Preparedness Measure (RPM) more than half of Americans need to take action with smart money moves if they are going to reach their retirement savings goals. While the average RPM is 74%, a shocking 41% of Americans have an RPM of 65 or lower. This places them squarely in the “poor” […]
They say that retirement should be viewed as a new life adventure. But it is really a budgeting lifestyle for post-working life. And there are a lot of considerations to make when budgeting a lifestyle in retirement. For one thing, people are living longer than ever now due to advanced medical breakthroughs and healthier living […]
Retirement is a well-deserved phase of life, but it can also present financial challenges, especially when it comes to taxes. As you transition from earning a regular income to relying on retirement savings, understanding how to optimize your tax situation becomes crucial. In this blog, we will explore some smart and legal strategies to help […]
