Now is a good time to think about a few financial matters. Consider making tax moves earlier rather than later. If you own a business, earn significant investment income, are recently married or divorced, or have a Flexible Savings Account (FSA), you may want to work on your income tax … [Read more...]
The SECURE Act and Traditional IRA Changes
What is it? How might it affect retirement strategy? If you follow national news, you may have heard of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Although the SECURE Act has yet to clear the Senate, it saw broad, bipartisan support in the House of Representatives and … [Read more...]
Retiring Single
You will want to replace your income; you will also want to stay socially engaged. About 6% of Americans 65 and older have never married. That statistic comes from a 2018 Census Bureau report, which also found that 22% of Americans aged 65-74 live alone. If you think you will retire alone and … [Read more...]
The Financial Realities of Longevity
Your financial future is up to you and no one else. What will be your future? You know that solid retirement strategy takes your time horizon, an often unpredictable factor, into consideration. Your thinking must include an awareness of how long you must save for and what sort of expenditures may … [Read more...]
The Problem of Money Paralysis
Not making a move may not always be the best move to make. A decision not made may have financial consequences.Sometimes, we fall prey to a kind of money paralysis, in which financial indecision is regarded as a form of “safety.” Retirement seems to heighten this tendency. If you are single … [Read more...]
The Shred Party!
What should you get rid of and hold on to? When and why? If a shred party happens to spring up in your area, you may want to mark your calendar. For many years, shred parties, where a business or organization hosts clients or the public to the use of giant paper shredders, have presented a … [Read more...]
Three Key Questions to Answer Before Taking Social Security
When to start? Should I continue to work? How can I maximize my benefit? Social Security will be a critical component of your financial strategy in retirement, so before you begin taking it, you should consider three important questions. The answers may affect whether you make the most of … [Read more...]
Taking Charge of Your Financial Life
Delegating responsibilities to others may lead to problems down the road. When you are putting together a household, it isn’t unusual to delegate responsibilities. One spouse or partner may take on the laundry, while another takes on the shopping. You might also decide which one of you vacuums … [Read more...]
Do Your Investments Match Your Risk Tolerance?
When was the last time you looked at the content of your portfolio? From time to time, it is a good idea to review how your portfolio assets are allocated – how they are divided among asset classes. At the inception of your investment strategy, your target asset allocations reflect your … [Read more...]
Could Social Security Really Go Away?
That may be unlikely, but the program does face definite financial challenges Will Social Security run out of money in the 2030s? You may have heard warnings about this dire scenario coming true. These warnings, however, assume that no action will be taken to address Social Security’s financial … [Read more...]