Below you'll find a list of all posts that have been categorized as “Financial Planning”
There is a good chance your 401(k) is one of your single largest assets. And the decisions you make about it can have a lasting impact on you and your family. Knowing your options at retirement are key in a financial plan. Key Points Your 401(k) may be your single largest retirement asset. The wrong decision can result in …
Key Points Today is the best time to start planning for retirement. Why? Time can be an investor’s greatest asset. Once you have a plan in place, it is easy to modify. Investing is a habit that is best started as soon as possible. Your retirement is ultimately your responsibility. Rule 1: Pay yourself first. Many financial advisors start their …
1. Not taking advantage of the Stretch distribution option or not establishing it properly The Stretch IRA is a way for each IRA beneficiary to maximize the payout period over his or her entire life expectancy. Properly designating beneficiaries and informing them of the IRA owner’s “Stretch” intentions are key to making this strategy work. 2. Not naming or updating …
Americans are living longer, healthier, and more active lives than past generations, and they want to ensure their healthcare and domestic needs are met. That means saving for a longer retirement is critical. Everyone has different circumstances. Fortunately, a diverse array of options is available to address your individual needs and aspirations. A skilled financial consultant can help you navigate …
Adapting your retirement strategy (and outlook) may be necessary. Involuntary retirement can be emotionally and financially unsettling. Here are some questions to ask yourself if it happens. Do you want to keep working? You may have to rely on your spouse or partner’s income—or your emergency fund—for many months if you look for another full-time job. Finding part-time work may …
A look at the role they can potentially play for families. Parents raising a child with special needs can face financial stress. State and federal programs simply don’t address all the long-term financial demands of their households. Two intriguing financial options may provide help. A special needs trust can serve as a resource. It can be created with family assets …
As a working mom, whole weeks may go by without the chance to sit down or even think. You’re managing a career, making decisions for your family, and caring for kids and often parents, too. It’s not easy, then, to hear about one more job that needs your immediate attention: retirement planning. But let’s just be blunt, women are almost …
What influences your spending choices? Social media can pressure you to spend more than necessary. We have all seen our friends post images of an expensive dinner,a pricy resort stay, a new car, maybe even their first condo or house. Seeing these message can influence your spending habits. Millennials are known for frugality, but the reality may differ. An American Institute …
It may be a wise financial choice. It may be a good idea for a woman to retire later rather than sooner. Leaving the workplace after 65 may help position a woman for slightly greater retirement income and reduce some of the pressure of funding her “second act.” Women tend to receive smaller Social Security payments than men. This doesn’t …
After you marry, to what degree should your financial lives be shared and how do those finances affect your relationship? Many couples who marry also wed their finances together. Whether they partly or fully merge their finances, many couples may see more advantages than disadvantages to taking this step. Some young married couples decide to create joint accounts early. Without …
