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Avoiding Pension Ankle-Biters

There are lots of small, yet important things to creep up on you as you approach retirement. However, these “ankle biters” can turn into a big collective problem if you don’t pay attention. Don’t let the tiny details derail your retirement plans!

We’ll discuss some of the finer details that often get missed or confused. You’ll feel so much better knowing you’ve covered all your bases.

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The Top 7 Things You Should Plan for in Retirement

This post was last updated on January 18, 2024, to reflect all updated information and best serve your needs.

Proper planning is crucial to ensure a smooth transition into a fulfilling retirement lifestyle. However, it can be really intimidating when you first get started. You aren’t the first person to retire, so you can draw on the experience of others who’ve walked this path.

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Why Everyone Isn't Made for Retirement

This post was last updated on January 08, 2024, to reflect all updated information and best serve your needs.

For some people, the “traditional” idea of retirement just doesn’t fit their lifestyle. The idea of never working again, going to the golf course every day, and just lounging around doesn’t sound very appealing. Luckily, you can craft what retirement will look like for you – even if you don’t really retire.

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How to Find The Right Financial Advisor For You

This post was last updated on January 08, 2024, to reflect all updated information and best serve your needs.

Retirees who work with a financial advisor are happier and more confident – in their finances and in life. Many of us have concerns about money. So, it makes sense that getting expert help would increase happiness by reducing financial stress.

The right financial planner does so much more than just help you with a 401k rollover. A true expert takes the time to get to know you and craft a detailed, thought-out plan around your hopes and dreams. The process should center around you, not your money.

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SECURE Act 2.0 Changes Going into Effect in 2023

This post was last updated on January 08, 2024, to reflect all updated information and best serve your needs.

Many SECURE Act 2.0 changes were set to go into effect later, but 2023 was an important year when many changes took effect. We’ve made a list of these changes so you can more easily track them.

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Is SECURE Act 2.0 Really a Big Deal?

 

This post was last updated on January 08, 2024, to reflect all updated information and best serve your needs.

Overall, this is a tough question to answer. SECURE 2.0 doesn’t cause any real major changes, but collectively, all the small changes have a significant impact. Put a different way, SECURE 2.0 probably won’t derail or save your retirement, but you certainly need to update your financial plan.

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The 3 Main Phases of Retirement Planning

This post was last updated on January 07, 2024, to reflect all updated information and best serve your needs.

There are three main phases of retirement planning: accumulation, transition, and decumulation (retirement). Depending on which you’re in, you’ll need to focus on different aspects of your financial life. The advice and expertise you’ll need will also be different as you move through these phases.

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How the GATT Rate Changes Your Pension Lump Sum

 

This post was last updated on January 07, 2024, to reflect all updated information and best serve your needs.

Although defined benefit plans (pension) are less common today, many people will still rely on them for retirement. There are some very specific rules governing how these plans are calculated for payout either over the course of retirement or in a lump sum.

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Tax Strategies Behind Roth IRA Conversions

This post was last updated on December 30, 2023, to reflect all updated information and best serve your needs.

Saving money for retirement is critical, but not everyone knows how to do it effectively. You should already understand the value of building a nest egg for your golden years. However, when it comes to the types of accounts you have, it can start to get a little confusing. 

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2024 Retirement Plan Contribution Limits

This post was last updated on 30 December, 2023, to reflect all updated information and best serve your needs.

Planning for your retirement is the key to fully enjoying the fruits of your labor. Whether you have an IRA (individual retirement account), a 401(k) or other retirement account, you'll want to get the most out of it by maximizing your contributions. Understanding the contribution limits put in place by the IRS will help you maximize your savings.

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Important Retirement Plan Contribution Deadlines for 2024

This post was last updated on December 30, 2023, to reflect all updated information and best serve your needs.

Make the most of your retirement planning in 2024! No matter how much time between now and these deadlines, mark your calendar so you don't miss anything. Now is the time to prepare for retirement account contributions (or withdrawals). 

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How Do I Calculate My Liquid Net Worth?

This post was last updated on September 30, 2023, to reflect all updated information and best serve your needs.

How do you measure your personal financial health? If you were running a business, you’d pay close attention to its financial health, right? Elements like cash flow, debts, and total assets would be part of your normal routine.

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What Are the Different Types of Investment Asset Classes?

Many investors consider diverse investment portfolios desirable because they reduce the overall risk inherent to investing. One of the primary ways to diversify your portfolio is to invest in different asset classes. Before you can do that, though, you need to know a little more about what they are. 

While even the most diverse investment portfolios aren’t immune to risk entirely, risk reduction of any amount can help provide you with peace of mind, particularly when you’re investing as a way to support yourself through retirement.

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Should I Have Multiple Savings Accounts?

If you’re like 69% of Americans, you may have less than $1000 saved. Putting money away is a struggle for many individuals, but part of the problem may be how they’re doing it. 

One possible way to make saving easier is to utilize multiple accounts. Today, we’re going to look at the various reasons you should be saving and the types of accounts you can use to reach your goal. 

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What is Micro Investing?

Typically, if you want to become an investor, you need sufficient capital to make any headway. These days, however, it’s never been easier to make your money work for you, thanks to various investing apps and opportunities. 

If you’re short on funds, you might think that investing is out of reach. You’d be wrong. Thanks to the growing trend of micro-investing, anyone with a bank account can get started. 

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How to Negotiate with Your Boss to Make More Money

If the thought of negotiating your salary makes you break out in a sweat, you’re not alone. According to a survey by compensation software company PayScale, only 43 percent of respondents asked for a raise in their current field.

Salary negotiations can be scary. Even the most seasoned professional can blanch at the idea of marching in and demanding more money from their boss. However, there will come a time when your current compensation does not reflect the value of your work.

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Retirement Income - Your Step-By-Step Guide to Not Running Out of Money

This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.

Congratulations! You’ve worked for decades to prepare for retirement and now you’re there, or almost there, ready to start what can be the most enjoyable phase of your life. Very likely, you’ve got plans to travel, see family and friends and maybe even revisit hobbies you’ve neglected for decades.

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What Issues Should You Consider Before You Retire?

This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.

Are you looking forward to the day you retire? Many dream of retirement, counting down the days when they can leave the cubicle life behind. But, before you turn in your work badge, make sure your finances are in order first.

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How To Set Goals You Might Actually Accomplish

The new year is upon us and with it comes resolutions and goals that you’d like to accomplish. However, as we can all agree, it’s just not that easy.

If you’ve ever set a goal that you failed to accomplish, you’re not alone. Science says that only 8 percent of people actually achieve their goals. According to a study by the University of Scranton, a staggering 92 percent of people make New Year’s resolutions they never fulfill.

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The Easiest Ways to Save Money

Many Americans are one paycheck away from going into debt to pay for an emergency. A report by the Federal Reserve on the economic well-being of U.S. households found that 40 percent of American’s can’t afford an unexpected $400 expense. Having some extra cash can help you be prepared in case financial disaster strikes.

There are many different ways to save money – some easier than others. Pick what works for you and stick with it for a few months, setting aside the money that you save in a separate savings account. You can use the extra money to start an emergency fund or invest for retirement.

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