retirement
Benefits of Working Longer
We all look forward to our “retirement date.” But do you really want to retire full-time? Working longer may be the right thing to do. It not only provides additional financial support, ensuring your retirement savings last your whole life,…
Maximizing Your Social Security Benefits
You are now 62 and eligible to start receiving your Social Security benefits. But should you start them? If you were born in 1960 or later, your full retirement age (FRA) is 67. If you start your benefits at 62,…
The Importance of Discussing When to Start Your Social Security Benefits with Your Spouse
If you and your spouse are close in age, starting your benefits at the same time may not always be the best option for you. You both need to consider your life expectancy, health, and other retirement funds, such as…
The Saver’s Match Begins in 2027
The Saver’s Match was introduced in the Secure Act 2.0 of 2022. Starting in 2027, it will replace the Saver’s Credit, a non-refundable tax credit that reduces the amount of taxes owed. The Saver’s Match provides a direct federal matching…
How Important are Defined Contribution Plans to Retirement Success?
If you’ve ever questioned the value of deferred compensation (defined contribution) plans like 401(k)s and IRAs and if you are unsure about the importance of the “401k plans for all” President Trump announced in his State of the Union address…
Digesting President Trump’s Retirement Plan Announcement
An estimated fifty million Americans have no formal retirement plan, and the average person receiving retirement benefits collects roughly $24,000 per year[1]. Accordingly, most retired workers rely on Social Security as a significant portion of their retirement income. For many…
Retirement Outlook Taking on an Increasingly Gloomy Perspective
The combination of inadequate savings and excessive debt is eroding optimism among future retirees, according to Pew Research Center reports. “40% of American adults don’t feel confident they’ll have enough income and assets to last their entire retirement…” says Moneywise…
Will your retirement plans survive contact with reality
You thought you were on track with your retirement planning. You worked with a financial advisor, you maximized your Social Security, and you were a savvy investor. However, according to a recent survey, only 40 percent of respondents who retired…
Turning bricks and mortar into retirement income
The baby boomer generation currently makes up most of the American retirees, and they are sitting on a record $19 trillion in real estate wealth. For some, home equity accounts for one-third of retirees’ financial assets, whereas traditional retirement savings…
Number one concern for retirees
The number one concern for retirees is not having enough money saved to maintain their desired standard of living in retirement. This concern is so prevalent that it ranks above other common worries like high medical bills, debt, or even…