RETIREMENT AND FINANCIAL INSIGHTS
We post weekly blogs to help you better understand your needs to unlocking confidence in your retirement future.
3 Major Retirement Expenses to Include in Your Budget
General retirement planning advice says that you’ll need about 80% of your pre-retirement income in retirement, but this may not be the case for everyone. Inflation, taxes, and long-term care costs are easily overlooked – but these expenses could be high. When creating your retirement budget, don’t forget to include...
The Retirement Rules Could Change Soon – Have a Response
If you have a financial plan in place, you may think you’re set. However, the rules of retirement are always subject to change. We’ve seen new retirement legislation in the last few years and could see more soon. It’s important to understand how you could be affected and think about how you will respond. The End of...
The History and the Future of Money
We’ve come a long way from trading pelts and seashells as currency, and there have been many changes to how we produce and use currency between then and now. The value of currency and inflation affect us all, as we’ve seen recently at the gas pump and the grocery store. Here’s what we can learn about our present from...
Rising Interest Rates and High Inflation – How Will You Respond?
The Federal Reserve voted to raise interest rates for the first time since 2018 and has several more rate hikes planned for this year. Rising interest rates can have significant effects on the economy and your finances. Between a volatile market, high inflation, and rising interest rates, know how you’ll respond. The...
Why We Could See More Inflation and Market Volatility
As we saw during the COVID-19 pandemic, what happens somewhere halfway around the world can have a major impact on us. Now, the global economy faces new threats as a result of Russia’s invasion of Ukraine, including spiking energy prices, inflation, and a volatile market. Know how you could be affected and what...
Estimating Your Tax Burden in Retirement
Taxes could be one of your biggest expenses in retirement. But once you have an estimate for your tax burden in retirement, you can consider ways to minimize it. The first step towards creating a tax minimization strategy in retirement is looking at how your different sources of income will be taxed. Pensions If you...
3 Important Tax Questions to Answer This Year
As we approach Tax Day, you may be gathering your important documents and preparing to file or file for an extension. Once you have everything sorted out, it’s important to consider how your tax situation could change as you near and enter retirement. Here are three important tax questions to answer this year. Why...
Three Birthday Milestones That Could Change Your Tax Situation
When we think of milestone birthdays, we often think of ones that are already behind us – like 18 and 30. But there are plenty of important birthdays ahead of you, especially as you near and enter retirement. Starting at age 50, several birthdays are critical to acknowledge because they can have implications for your...
Tax Day Will Be Here Before You Know It
Tax Day is April 18th this year, due to the Emancipation Day holiday in Washington D.C. on the 15th. This is a good time of year to review your finances and think about your long-term tax strategy. Tax Day will be here before you know it, so know these important tax terms and start thinking about how you’ll work to...
Don’t Fall for These Online Scams
Unfortunately, cyber security threats can increase during tax season,[1] and scammers tend to target older adults. Tax, Social Security, and retirement account scams can be financially devastating and very difficult to correct, so know how to avoid them. Awareness is crucial – don’t fall for these online scams. Tax...