Understand the Fees of Retirement Planning
Retirement planning is a crucial process that requires careful consideration of various factors, including investment options, risk tolerance, and fees. Fees are an essential aspect of retirement planning, as they can impact the overall value of retirement savings. They can also be the cost of providing much needed guidance to your retirement strategy. Therefore, it […]
3 Tax Optimization Strategies to Remember for Retirement
As you plan for retirement, it’s important to consider tax optimization strategies to minimize your tax liabilities. Here are three key ways to optimize taxes in retirement, based on information from sources published between 2022 and 2023. Tax Optimization for Retirement Strategy 1: Consider the Tax Structure of Your State and Locality Consider living in […]
Addressing Retirement for Gen X
Generation X’s Retirement Worries A recent study by Investopedia found that Generation X’s biggest worry is retirement. The survey found that although many members of Gen X feel like they understand their finances, they are still concerned about setting themselves up to transition into retirement. Nearly one in four Gen Xers are not sure when, […]
Healthcare in Retirement: The Basics
Healthcare insurance is a crucial aspect of managing one’s health and finances. Understanding its basics can help individuals make informed decisions to help them stay healthy without running into unexpected costs. Here are some important points to keep in mind: Healthcare Basics: Types of Health Insurance There are different types of health insurance plans, including […]
What Are the Differences Between ETFs and Index Funds?
Understanding ETFs and Index Funds ETFs and index funds are two popular investment vehicles that provide investors with exposure to a diversified portfolio of securities. While both investment options closely track a particular market index, they differ in several key ways. Difference Between ETFs and Index Funds: Trading One significant difference between ETFs and index […]
Should You Retire at the Same Time as Your Spouse?
Key Considerations for Couples Planning Retirement Together As a financial advisor, I often find myself discussing retirement plans with couples who are contemplating the idea of retiring simultaneously. The notion of embarking on a shared retirement journey, free to pursue dreams, travel, and enjoy quality time together, is undeniably appealing. However, before making this important […]
Build a Bigger Nest Egg with These 7 Strategies
Helpful Ways to Accelerate Your Retirement Savings Regardless of your age, saving for retirement is a crucial step in financial planning. While starting early is certainly advantageous, many individuals find themselves playing catch-up due to life’s uncertainties. Below, we will explore seven powerful savings strategies to help you accelerate your savings, even if you’ve begun […]
Practicing Gratitude Can Impact Your Money Mindset
How Cultivating Gratitude May Transform Your Financial Well-Being As a financial advisor, I have witnessed firsthand the profound impact that money mindset can have on a person’s financial journey. While strategies, investments, and budgeting techniques are essential, there is one often overlooked element that can significantly influence your relationship with money: gratitude. In this article, […]
How Long Can I Keep My Money in My Retirement Account?
In most cases, you can’t actually keep your money in your retirement accounts forever. Even if you don’t need the money from your retirement accounts, many of them will require you to begin withdrawing from them when you are 73 years old.[1] This is called a required minimum distribution (often shortened to RMD). More specifically, […]
What Happens to Inherited Retirement Accounts?
You may know plenty about the differences between traditional IRAs and Roth IRAs, as well as the risks to your IRAs in this market, but what happens to an IRA (or other retirement account) that still has money in it when its owner passes away? You may think that the beneficiary just gets all the […]
