Saving for retirement is a long-term endeavor. It’s not about finding the next hottest stock or trying to get rich quickly. It requires a different perspective on your wealth and income that accounts for your needs in different stages of your life, from the beginning of your working years through your retirement. These five key [...]
You might expect your tax burden to decrease in retirement – after all, you’re no longer receiving a paycheck that incurs income tax, payroll tax, and Medicare tax. However, your income in retirement could be significant between investment income, rental properties, pensions, Social Security, and retirement account withdrawals. Then starting at age 72, you will [...]
In 1960, a gallon of conventional whole milk was 31 cents, and today it’s $4.21 on average.[1] A few dollars might not seem like much, but that’s a 1,258% increase! Now that we’re seeing high inflation, the buying power of your money – including your retirement savings – could be seriously impacted. When calculating how [...]
There’s no doubt that people have been feeling the effects of inflation on their wallets. Everything from food to gas to home repair products seems to be increasing every day. Federal Reserve Chairman, Jerome Powell, is taking inflation very seriously, raising interest rates to combat the explosion of inflation. And although the moves have made [...]
If you’ve followed markets or financial news, especially in the past few years, you may have come across the term “fear of missing out,” commonly abbreviated to FOMO. When markets keep going up, FOMO can start to creep in. It can start to feel like you’re leaving gains on the table by not rebalancing your [...]
Are you feeling shocked at how expensive your regular expenses are? Well, you’re not alone. Many Americans are feeling the burn as the price of daily goods increases due to stimulus checks and supply chain shortages. As the economy gets back on its feet after the COVID-19 lockdowns, inflation will likely stick around. However, inflation [...]
This 4th of July, you may be throwing a party, watching fireworks, barbequing something good, or all the above. But what remains important is that you can do all that with family and loved ones. Last year on the 4th, you may not have worried about market downturns or cost-of-living increases, but with market volatility [...]
Many people feel ready to retire, but fewer are financially ready to do so. It’s one thing to feel you’ve accomplished enough in your career or even that you’ve saved enough, but it’s another to have a plan in place that covers everything important. If you’re ready to retire, consider your finances. Have a Plan, [...]
You might have been aiming to save a certain amount for retirement - and maybe you’ve already achieved that goal. But, considering inflation, an unpredictable market, and a lack of guaranteed income once your paycheck stops, you might be reconsidering whether you’ve actually saved enough. There are a few reasons why today’s retirees might fear [...]
Did you ever hear your parents or grandparents talk about how much less everything used to cost? They weren’t exaggerating - in 1960, a gallon of conventional whole milk was 31 cents, and today it’s $3.77 on average.[1] A few dollars might not seem like much, but that’s a 1,116% increase. You’ve likely noticed higher [...]
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