The Retirement COLLAB Blog

With so many wealth management firms competing for a client’s favor and attention, you might be lead to believe that picking one is as easy as a walk in the park. Sadly, that's not the case. It's great that people have options nowadays, but the sudden increase in numbers also makes finding the right firm for your specific financial situation more challenging.

If you're at a point where your portfolio has become too large to manage on your own, then it's high time to call in the experts. The right wealth manager will help you identify solid investment choices and map out a strategy that will not only let you achieve your financial goals but surpass them, if possible.

Many people consider hiring a financial advisor to manage their investments. But is a financial advisor really the best person to handle your investments day-to-day?

While a financial advisor or Certified Financial Planner^® should be overseeing your investments, this shouldn’t be their main focus. They should be looking at the big picture and quarterbacking all areas of your financial life and not getting into the nitty-gritty of managing your portfolio.

One of the best ways to save for retirement is to use tax-advantaged accounts. Most employers offer the option of contributing to a 401(k) account, which can be a great idea for stashing cash for your golden years.

Maxing out your 401(k) account for a few years can give you a good foundation for retirement. The earlier you get started, the longer the money will have to grow and earn interest.

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

If you’re stashing away cash for your golden years, you’re ahead of the game. A study conducted in late 2020 found that 56% of Americans have $5,000 or less in savings, while a third has $1,000 or less. What’s worse is that another study showed that almost 25% of adults in the U.S have no retirement savings or pension at all. 

Planning for the future often takes a backseat to today’s problems. Most people want to know their families are protected financially in case something happens to them. This is where having life insurance can make a big difference.

However, there is conflicting information out there when it comes to getting a life insurance policy. If you’ve ever worked with someone who works for an insurance company (an insurance agent...regardless of what they call themselves), you may have been pushed to a whole life insurance policy.

Making a lot of money and being wealthy are not synonymous. Even if you make six figures, you can still feel stretched to pay your bills if you don’t take the appropriate steps to build wealth.

While having a high income is a good starting point, if you spend everything you make, you’ll find yourself feeling strapped. Getting the right financial planning information can help get you on the right track toward growing your net worth.

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.

If you already have an estate plan, you’re ahead of the majority of Americans. According to a survey by Caring.com, more than half of people don’t have a will or living trust. Even if you have your estate documents in order, you’re not done.

Chances are you’re still many years away from needing to put your end-of-life plan into motion. There are still many changes in your life that need to be reflected by updating your documents. It’s an essential part of making sure everything is in order for your family and heirs.

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

A question that comes up regularly is what to do with old retirement accounts. In the old days, many workers stayed at the same employer their entire career and retired with 30 to 40 years of service.

Do you have a child that might go to college someday? If so, then you’ve come to the right place. In this article, we provide you with our best college savings tips regardless if your child is 10 years away or 1 year away. We have tips for all of them.

Let’s face it, saving and paying for college can be overwhelming. Knowing how much to save for college, what types of accounts to utilize (529 Plans, UTMA/UGMA accounts, IRA’s, etc) and how to invest the money, can lead you into paralysis by analysis.