Below you'll find a list of all posts that have been tagged as “Financial Planning”
Retirees face a critical task in managing their income and expenses to ensure that they can support their lifestyle and any healthcare costs. Unless you have accumulated substantial wealth where money is not a concern, you face a critical task when you reach retirement to make sure that your assets will support you through your lifetime. When you retire and …
It even makes understanding inflation easier. Let’s face it: talking about bacon is always fun. It can even help illustrate a topic that has been in the financial media a lot lately — inflation. In 1991, the price of a pound of bacon cost $2.22 (according to the Bureau of Labor Statistics). Thirty years later, in August of 2021, a …
In recent years, another retirement savings vehicle has come about that might be superior to the 401(k): a health savings account (HSA). Today, on Nestology TV we discuss how the HSA is by far the most underutilized financial tool you can use to build your retirement nest egg.
Everybody knows that lawsuits and lawyers cost a lot of money, and being involved in a lawsuit could cost you everything. Personal liability insurance protects you. Today Kevin, discusses how wealth is at risk if you do not have liability protection!
It’s easy to understand why saving for retirement isn’t a priority in your 20’s. But youth is a huge advantage when it comes to building wealth for retirement because you have the most reliable and effective tool in wealth building…….TIME! This weeks episode Kevin Foster, CFP® discusses a few tips about saving for retirement while under the age of 30.
RUNNING A SMALL BUSINESS CARRIES WITH IT UNIQUE FINANCIAL PLANNING CHALLENGES, WITH MONEY CONCERNS AN ONGOING BURDEN FOR THOSE WHO WORK FOR THEMSELVES. After all, unlike salaried jobs where income is predictable, small business owners are often the last to get paid and the only one paying the bills. While there’s no magic formula to right the ship when it …
Early withdrawals from retirement accounts are not only costly, but they can also disrupt your financial future. Think about the long-term consequences before you tap your 401(k) for an emergency expense. Your 401(k) account is designed to help you build a nest egg for retirement, but you may tap it for other purposes. If you’re thinking about using it for …
As you head into retirement, it makes sense to reevaluate your insurance coverage and make sure it’s sufficient. Now that you’re about to retire, it’s an excellent opportunity to take a fresh look at your life insurance coverage. It might be that you can give up a policy or two, or that you can change your coverage to better match …
While market declines, corrections and downturns can be disheartening, they can also be opportunities for investors with workplace retirement plan accounts, IRAs or any long-term investment programs that use dollar-cost averaging. Dollar-cost averaging is a method of investing a fixed amount of money at regular intervals. It works the same for everyone, regardless of investment experience. Down markets can actually …
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 …
