The Four Phases of Your Financial Life

Designing, building and protecting a plan throughout these phases requires an integrated approach across many life and financial areas. Key moments across each phase can impact your long-term success to whether you accomplish the goals you’ve set forth. 

I believe that by having a better understanding of each phase, you’ll be able to know what to expect and plan for throughout each one, in particular when it comes to creating a retirement spend down strategy.

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Traditional 403(b) or Roth IRA?

When most people think of retirement accounts, a 401(k) comes to mind. However, for employees of nonprofits or public entities, a 403(b) is typically the only option. 

Because this account is handled differently than a 401(k), it’s crucial to understand the ins and outs. In this article, we want to dive into these plans, including the difference between a traditional 403(b) and a Roth IRA. 

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Estate Planning in the Age of COVID-19

Amidst the COVID-19 pandemic, many of us have been forced to ask ourselves: Am I truly prepared for the worst? And one too often undiscussed yet important aspect of future preparedness is estate planning

In just a few short months, the COVID-19 virus (or, coronavirus) has ravaged the global economy, shattered unemployment claims numbers, and left many Americans worried about the well-being of themselves as well as their families.

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Everything You Should Know About an Emergency Fund

No matter how well things are going, disaster can always strike. Even worse, it does so without warning, meaning that you’ll never be as prepared for it as you should. Unfortunately, for many Americans, these setbacks can have significant consequences on one’s financial stability and security. 

The best way to alleviate this fear and worry is to set up an emergency fund. If you haven’t thought about doing this before, now is the time to start. Whether you have $5,000 in the bank or $50, it’s never too early to begin saving for a rainy day. In this article, we’ll break down the basics of emergency funds, as well as how to make sure that you’re on the right track. 

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Our Review of Betterment vs. Wealthfront

Technology has made so many facets of modern life easier. When it comes to finances, you no longer have to meet with an actual person in an office to manage your money. Now, there’s an app for that. 

However, while there are plenty of finance apps on the market, two of them are notable for their high-tech approach to investment and portfolio management. 

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7 Goals to Accomplish When You Retire

Although you will have various milestones in your life - buying a house, having children, getting married - one of the most substantial is your retirement. Assuming that you don’t want to have to work until you’re 80, you need to plan for this major step. 

Unfortunately, too many Americans are unprepared, which means that they will wind up scrambling to figure out what to do when they retire. If you’re getting close to that age or you’re just wondering where to begin, let this article be your guide. 

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Our Review of Stockpile vs. Robinhood

In the old days, if you wanted to invest online, you had to have some knowledge of what you were doing, and some capital already so that you could pay trading fees and other expenses. 

These days, there’s an app for that. Actually, there are many different trading apps available, but for this article, we’re going to look at two of them: Robinhood and Stockpile. We’ll break down how they’re similar and how they’re different, as well as which one is best for the kind of trading you may be doing. 

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Our Review of Blooom

Firms that manage your 401(k) are rare and difficult to find, which is unfortunate because managing your own 401(k) can be stressful and a hassle to keep up with. Blooom bridges the gap between you and 401(k) management by making the management of it as easy as possible. 

Blooom (yes, with three Os) is a registered and qualified investment advisory firm that can actually manage your 401(k) for you. Blooom identified an opportunity gap in the market, which is that millions of people every year hire third parties like robo-advisors and your traditional financial advisors to manage their 401(k) accounts. 

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5 Easy Money Hacks When You're Retired

There is a common misconception that being retired means you’ll no longer need or want to bring in any additional income. This is far from the truth for many people that have found ways to generate additional income after reaching retirement. 

There are several tips and methods you can start using to stretch your money out more, and even continue making more. With all of the free time you’ll have in retirement, you might as well put some of it to good use.

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13 Cool Passive Income Apps if You're Retired

Retirement doesn’t quite mean what it used to. For many of us, the picture of retirement looked like kicking your feet up, traveling, and perhaps taking time to get into some new hobbies. You worked hard your entire life, and now it’s time to take some much needed time off from work. 

Today, that isn’t exactly the case. As the average life expectancy for Americans keeps rising, more people are working well into their 70s. Even then, retirement doesn’t look like it used to in that more and more retirees are continuing to work part-time, citing that the extra income is a nice boost and adds to their peace of mind. 

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NextGen Wealth, LLC is a registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor, tax professional, or attorney before implementing any strategy or recommendation discussed herein. NextGen Wealth LLC is registered as an investment adviser in the states of Missouri and Kansas, and is notice-filed in the State of Texas. As such, it may only transact business with residents of those states and residents of any other state where otherwise legally permitted subject to exemption or exclusion from registration requirements.

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