It is one of the most common questions wealth advisors get from clients – when can I afford to retire? But planning for retirement can be a bit more complicated than just a savings and spending plan. Here are five pitfalls to avoid as you approach retirement. Pitfall #1: Thinking you can work forever (to […]
The devastation caused by COVID-19 has overshadowed two important pieces of legislation that can affect your retirement. Here is a “cheat sheet” so that you can understand the key points that may relate to your situation. As is often the case with congressional law, the details can be complicated, so you should consult a professional […]
The CARES Act The following is a summary of major provisions of the Coronavirus Aid, Relief, and Economic Security “CARES” Act. The Act is a complex piece of legislation and it covers many areas; our focus will be on how it impacts individuals. We would welcome speaking to you about it and if it might […]
In many ways, I have been blessed with parents who have aged well. They both celebrated their 90th birthdays this fall and until recently have been living active and independent lives. But the time of real cognitive and physical decline is finally breaking upon them. My father was recently in a bad accident and spent […]
Many of us see reaching our 60s as a long-awaited milestone. But even if a retirement date is on the back burner, this is a critical time for two important financial considerations — when to take Social Security benefits and a timely sign-up for Medicare. Social Security While there is no hard and fast rule […]
If you are within 20 years of retiring, now is the time to start planning so that you can make more informed decisions about your future and be financially and emotionally prepared for one of life’s biggest transitions. Though individual situations vary, these basic recommendations should be considered by anyone preparing for retirement. The sooner […]
Many earners are in the smart retirement savings habit of making pre-tax contributions to company or individual retirement plans, such as a 401(k), 403(b) or SEP IRA. Strong incentives include a tax deduction for the contribution and often some form of employer match or contribution. Accumulated contributions are then invested, usually in stocks and bonds, […]
Retirement is something that most people look forward to in their working lives: no deadlines, no dressing to company standards, and no handling endless paperwork. It is living life more on one’s own terms. But if it is not planned with a degree of care, it can be much less than the dream it was […]
Social Security is a significant source of income for many of us these days. Given the added annual cost-of-living increase (COLA), it has become a keystone to a successful retirement. Because many people are not aware of some of the lesser-known nuances of this benefit, here are some tips to help you get the most […]
Will you be able to maintain your lifestyle after retiring? According to research, significant numbers of working families are “at risk” of failing to maintain their standard of living once they stop working. Decades ago, most employees put in the required years of service to achieve their desired income goal and collect a check in […]
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