RETIREMENT AND FINANCIAL INSIGHTS
We post weekly blogs to help you better understand your needs to unlocking confidence in your retirement future.
What the High Social Security COLA Could Mean for Your Retirement Finances
Social Security recipients will see a 5.9% increase in 2022 – the largest increase since 1982! This means that the average recipient will see a $92 a month raise starting next year.[1] While this is good news, it’s important to consider what this high Social Security cost-of-living adjustment (COLA) could mean for...
Be Prepared for 2022
A new year can bring about a new mindset and optimism, but it’s also important to have a plan to deal with the challenges we could face. We could see high inflation, a volatile market, and higher taxes, and it’s important to have a plan in place to address these concerns. Here are some ways to be prepared for 2022....
Review Your Investment Strategy and Prepare for 2022
The end of the year is a good time to reflect on 2021, how your financial situation may have changed, and your goals for next year. Maybe 2022 is the year you’ll retire, or maybe not. Either way, you can review your investment strategy and prepare for 2022 and beyond. We Saw Record Highs in 2021 – What Will We See in...
What is a Roth Conversion and Should You Do It?
When you think of your major expenses, you might think of housing, healthcare, travel, or something else. But have you considered that taxes could be your biggest expense, even in retirement? There could be ways to reduce your tax burden today and tomorrow, including a Roth IRA conversion. What is Roth IRA vs. a...
3 Things About Your Taxes That May Have Changed
Here come the holidays and everything that goes with them – traveling, cooking, buying gifts, and of course, spending time with the people we love. Even though it’s a busy time of year when finances can end up taking a back seat to decorating and wrapping presents, it’s important to take the time to review where 2021...
3 Uncertainties You Could Face in Retirement
The only certainty in life is that there will be uncertainties. However, that doesn’t mean you can’t create a plan to address them. Retirement shouldn’t be a time of anxiety or worry; it should be a time when you feel financially secure and can enjoy the money you’ve worked hard to earn for decades. The first step is...
Your Health is Priceless – But How Much Will It Cost You?
One of your largest retirement expenses could be your healthcare costs. An average 65-year-old couple retiring today will need an estimated $300,000 to cover their healthcare costs, according to a recent study.[1] Although good health is priceless, it could cost you in retirement. First, know what you can do during...
Succession Planning for Business Owners
For many years, you’ve been the captain of your ship. Running your own business hasn’t been easy and success was never guaranteed. Retirement planning is the next uncharted water for you, and there’s no one-size-fits-all map. Ultimately, when you own your own business, you must create your unique retirement strategy....
Where Will Your Retirement Income Come From?
Once you’ve sold your business, you’ll need to make a lump sum of savings last for the rest of your life. This can be difficult, even for those who already have a substantial amount saved. Retirement can last for decades, and the risk of running out of money is very real, especially if we see high inflation and a...
Taxes and Estate Planning
If you’re a business owner and know you eventually want to retire, make sure you understand how passing down or selling your business works. Business sales are increasing as more Baby Boomers retire and the potential for changes to the tax code may be partially driving the trend. As a business owner, it’s important...