Prioritizing saving overspending will help you get the retirement you’re after. But, what if you’re already in debt and are now planning out your retirement? Here are some steps to help get out of debt before retirement.
‘Budget’ doesn’t have to be a four-letter word. It’s one of the best financial tools that you can have no matter your situation, but it’s especially important when you’re trying to become debt-free. …
An inherited RIA requires you to take annual distributions no matter your age, but there are different rules depending on your relationship to the late account holder and how old they were when they passed. We break down some of your options.
There are several options for you if you inherited an IRA from a spouse. However, those options do change depending on how old your spouse was.
You have four options for your inherited IRA.
Holidays look a little different this year, but that doesn’t mean you can’t stick to your budget. Every year the increase in only holiday shopping increases, but this year it’s expected to increase by unprecedented amounts. Due to COVID-19 and statewide restrictions, many are choosing to shop online this year. Similarly, many are also facing unemployment, so holiday shopping plans may take a hit. Let’s look at some ways to save money around the holidays without sacrificing any of the fun.
The last couple of months of the year are when we tend to throw our budgets out the window…
No one likes thinking about end-of-life situations, but it’s essential to take care of some necessary items to make things easier on your family when you die. It will save a lot of heartache and time on your loved one’s part if you have everything in line.
Making a will doesn’t have to be complicated, but many Americans put off writing one for several reasons. Generally, there are rules in place where the deceased belongings will go to in the case of larger assets. This includes items such as bank accounts, retirement accounts, and other life insurance policies.
If you’re a senior or nearing retirement age then your financial needs will differ from those who are in their 20s, 30s, or 40s. It’s important that you find the right advisor to suit your individual needs.
It’s true that most certified financial planners have experience with retirement planning regardless of if it’s their area of expertise or not. Financial planning is essentially your current strategic plan based on your current paycheck, how you spend and budget, and making smart (but sometimes risky) investments to help ensure a healthy financial future.
Those who are nearing or at retirement age are…
The 2020 US presidential election has already had effects on your finances. It’s important to be prepared for any potential financial changes that could come with the presidential elections and how to prepare for them.
Generally in the year leading up to presidential elections, the market tends to show a more muted performance-that is the market underperforms slightly. For the most part, this doesn’t affect portfolios in a major way, but it is something to keep in mind.
2020 has been a rollercoaster year for the stock market, with unprecedented highs and lows. The coronavirus pandemic and subsequent economic fallout…
2020 has been a difficult year for many American’s finances. However, mortgage rates keep falling to record lows. When should you refinance your home?
The COVID-19 pandemic has caused mortgage loan rates to fall pretty dramatically. Throughout the course of 2020, mortgage rates have hit a record low four times this year. On average, a 30-year fixed-rate mortgage loan has dropped to around 3.13% APR. The combination of more Americans working from home and low-interest rates have caused an increase in houses selling fast.
For many, it seems like refinancing your mortgage as rates fall is an obvious choice. But…
Salary negotiations can be tricky no matter where you are in your career. However, it’s important to approach negotiations when you are close to retirement age with both confidence and caution.
The most important part of negotiating your salary is knowing your value as a worker. As you approach retirement, you are in the unique position of having decades of experience under your belt. Your salary should reflect that. It’s true that younger workers may bring new ideas to a workplace, but your experience is just as important. …
The Open Enrollment period is coming up and if you are near or at retirement age, you may be thinking about your options. Healthcare costs are a huge source of stress on retirees, so it’s important to know your options.
Open Enrollment is the time period where you are able to review your health insurance plans and make changes as you see fit. You may want to sign up for a new health insurance provider, change your current plan, and more. These changes will begin the following year, on January 1.
You have options for health coverage when you retire…
The COVID-19 pandemic has shown us the importance of having a care plan to utilize when needed. While future pandemics are uncertain, there may be times where staying home is the safest option. If you are in a high-risk group, staying home during cold and flu season is beneficial. Here are some things to think about when putting together your care plan and how it can financially benefit you.
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