If you are mulling over in your mind your list of tangible assets, savings accounts, and creating your will, you may be trying to determine that trifecta question of how to be able to keep what you have in your name, have access to income, but still leave something as a legacy to your heirs. […]
A recent AARP focus group study* sheds light on the concerns of women aged 50 and up, revealing a shared sense of financial stress, uncertainty about the future, and dissatisfaction with systems designed to help them. Participants, regardless of political affiliation or age, described dealing with rising costs, health-care challenges, caregiving responsibilities, and concerns about
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It is not surprising that people tend to compare their financial situation during retirement to others, because money is highly visible in life: through homes, cars, travel, and lifestyle. So it becomes an easy benchmark for perceived success. However, not only do these comparisons rarely reveal the full picture of someone’s debts, obligations, goals, or
Money can be a sensitive subject, but ignoring it can lead to uncertainty, stress, and misunderstandings. Many families will find that discussing finances can actually foster connections and clarify goals, tasks, and expectations. Regular financial conversations can help everyone in your household keep informed and aligned, whether you’re preparing for retirement, celebrating major milestones, or
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Choosing a senior living community is a life-changing decision that can have a significant impact on physical health, emotional well-being, and overall happiness. Whether you’re planning for yourself or helping a loved one with the move, it’s critical to pay close attention to the details. Understanding your options when it comes to senior living communities
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Since January is a popular month for email scams, here are some tips to help avoid them and keep the good times going all year long. Call us if you’d like more tips on how to avoid getting caught in a scam; we’re always here to help.
It’s That Time of Year Read More »
One of the most difficult challenges when planning for retirement is grappling with uncertainty. Markets fluctuate, tax laws change, healthcare costs rise unpredictably, and perhaps most challenging of all, no one knows exactly how long they will live. Yet longevity—the number of years a person may spend in retirement—is one of the most important assumptions
Have you heard this phrase before? It is an interesting one often used when simulations are run with hundreds of possible scenarios, using varying market returns, inflation levels, health costs, extended family financial needs, income levels, employment assurance, and the like, in order to see what the range of potential outcome is for your specific
Monte Carlo Simulation Read More »
Traditional IRAs, 401(k)s, and other similar retirement accounts enable you to save money before taxes, allowing your savings to grow for decades. However, the IRS will eventually require you to begin withdrawing a portion of your savings on an annual basis. These withdrawals are known as required minimum distributions, or RMDs, and the income you
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There is no one “ideal retirement.” But there are many ways to have a happy retirement if you have reflected on the choices you have, and what you are willing to leave to chance. The way you answer the following questions may help you decide what may need more thought before you begin your retirement:
