Retirement means more than a change in your employment status. It’s the point where the use of your savings changes. During retirement, a retiree’s focus turns from accumulating savings, to how they’re going to live off those savings, potentially for decades to come. That’s why it is important to focus

The importance of saving up enough for retirement cannot be emphasized enough. Seniors who retire mostly or solely on social security often end up strapped for cash. So, it’s essential to have additional income sources to tap into that can provide additional income. While we know retirement savings should be

Clients are coming to us more and more frequently with questions regarding this retirement situation: Let’s say one of a couple retires, and the other continues to work. This often presents a need for rebalancing in order to better ensure that the remaining spouse is sufficiently taken care of. Call

We often mention in passing that life expectancy shows that women typically live longer than men. What does that mean to you? Well, you should think about the impact it could have on your retirement savings. When one individual passes before another, but both are using the same retirement savings

We thought to share with you our thoughts about the growing number of people who are looking to purchase a financial product that incorporates a guarantee on some or all of their retirement income. In the current climate, against a backdrop of rising inflation and a cost-of-living crisis, the benefits

The year 2023 brought with it a number of changes to the rules governing retirement deposits and withdrawals. This includes changes, in both this and future years, for RMDs from tax-advantaged retirement accounts. New legislation also provides a tax credit for small businesses, relating to retirement plans. It’s important you

The National Council on Aging reports that financial scams targeting older adults are on the rise. According to the Federal Bureau of Investigation in 2021, there was a 74% increase in losses to older victims of fraud compared to 2020. Why is this? Con artists and fraudsters tend to go

Often when we ask ourselves ‘Have I saved enough for retirement?” we’re really just asking if we can afford to give financial gifts or assistance to our children or grandchildren. The difficult part in answering this question is due to the uncertainty of planning for long-term care. Not to mention,

We are often asked about “financial literacy.” The phrase refers to the ability to understand and use various financial skills, and is the foundation of your relationship with money. A strong foundation of financial literacy will generally make you less vulnerable to financial fraud, and can help support you in

We’ve received some inquiries this past month about a few topics. “What if” you end up having to go into a nursing home? “What if” you’re living in an independent living facility and need to move over to assisted living? Are your financial products going to pay you in a

Even if you’re able to add up what you spend today, trying to determine what you will need when you retire is difficult because your spending is sure to change. While perhaps you won’t have a mortgage payment anymore, you may be asked to contribute to your grandchildren’s education, or

As we’ve seen from the news over this past week, many were caught up in the hurricane, and many did not have insurance that suited their needs. This is the case for many people because a natural tendency when purchasing something that pays money for a future event is to

Someone asked us this past week if we would explain what the “Four Percent” rule is and how it came about. The Four Percent rule is based on a study by a financial advisor named William Bengen. His study suggested that one could safely withdraw 4% of their starting portfolio

There was an interesting article the other day in the Wall Street Journal. The article discussed a recent survey of workers in their 60’s who were asked about their retirement preferences. The author found that the assumptions that are usually embedded in retirement income calculators–for example, good health, not wanting

“Money can’t buy happiness” is an adage that some people live by, and others ignore. According to a recent Purdue study: “income can correlate with emotional well-being and life satisfaction.” But, as a recent GoBankingRates article tells us, the price of happiness differs (apparently) depending on the State you live