Blog Posts

Financial planning and wellbeing

Wednesday, December 21st, 2022

The current cost of living crisis, against a backdrop of bleak economic predictions, is a significant cause for concern for millions of people.

Living standards have fallen at the steepest rates in 60 years, household incomes are expected to drop by 4.3% in 2022-2023, and people are being forced to reduce their spending.

With economic predictions over the next couple of years also looking grim, it’s easy to see why people feel powerless and frustrated.

Could financial planning hold the answer?

Are you wondering when you will be able to recoup your market losses?

Friday, November 18th, 2022

So far, 2022 has been an odd year.

Following the remarkable recovery from the initial pandemic lockdowns, investors experienced peak returns at the start of the year. However, as the economy and stock market continued to deteriorate, lethargy set in.

Investors are now wondering when the market will turn around so that they can recoup their losses. To begin, we must perform some relatively complex investment math to determine how much you must make up. Because, unfortunately, the loss-to-breakeven ratio is not a 1:1 ratio.

Second, digging deeper reveals that, depending on the economic environment, the time to recover losses similar to those we're experiencing today could range from 4.5 to 45 months.

The good news is that every bear market since 1968 has seen the market recover its losses and grow even more...

Income for Life - Retirement Planning

Thursday, September 29th, 2022

During periods of economic uncertainty, a paycheck is the ultimate antidote to stress. As long as you’re getting paid, you can buy groceries, pay the mortgage and—one of these days—catch a ball game.

Unless you’re fortunate enough to have a traditional pension, though, those paychecks stop when you retire. That’s unnerving even when times are good. When the stock market is unpredictable, interest rates are at an all-time low and the economy is reeling, the absence of a biweekly or monthly deposit in your bank account can lead to a lot of sleepless nights. That's why proper retirement planning is crucial.

Ways You May Be Leaving Money on the Table When You Retire

Tuesday, August 30th, 2022

Are you leaving money on the table when you retire? The answer is likely a resounding YES! (Whether you realize it or not.), And that is too bad, as you want and need every penny you can muster to fund a secure and happy retirement. So, it is important to take advantage of every opportunity to make smart use of your money.

Surprisingly though, many retirees and soon to be retirees overlook not just hundreds or even thousands of dollars, but hundreds of thousands in money that could be put toward retirement expenses. Here are tips to help you ensure you’re not falling into some of the typical traps that often lead to retirement downfall.

Retirement Savings Drawdown: Crucial Aspect of Proper Retirement Planning

Friday, July 29th, 2022

After decades of planning and putting money away, you may think it would be easy for most people to shift from a savings mindset to a spending mindset. Yet income drawdown is one of the most often overlooked aspects of retirement planning. Mapping out a strategy as part of your retirement planning is crucial. Structuring the wrong way could take a significant bite out of your retirement savings.

Money Tips for Seniors Suffering from Inflation

Tuesday, June 28th, 2022

This year has been an especially tough one for seniors on fixed incomes. To stay on track, try these financial survival tips.

Why is this year different from all other years for seniors? Inflation. The latest numbers show a whopping inflation rate that’s the highest since 1982.  This means that everything you buy will be more expensive.  You see this impact at the gas pump, the grocery store, the doctor and, frankly, all over. The issue is that you don’t have a choice not to buy certain things.

Retirement Checklist

Tuesday, May 10th, 2022

Whether the day you stop working is a decade away or around the corner, these to-do items will help you retire on your own terms.

Set Yourself Up for a Successful 2022 (Ten New Years to-do’s to start the new year off right.)

Tuesday, December 21st, 2021

Every year, Americans set lofty goals for themselves, and every year they come up short, real short. A full 81% of people bail on their New Year’s resolutions before January ends. Managing money better is often one of those resolutions. People want to improve their finances and setting resolutions can you a game plan for how to do better. Your resolution should be specific, measurable and achievable.

Let’s break that trend for you and not call them resolutions (as we know what happens to those), but tasks or to do’s to set you up for financial success!

Ten tasks/to-do’s to start the year off right and head towards financial success:

(click title orimage to read the article)

Four Big Retirement Blunders

Saturday, October 23rd, 2021

It’s too bad, but financial advisers see these four mistakes all the time. Don’t fall into the same traps. Despite the chatter you’ve probably overheard through the years — at work, family gatherings or neighborhood barbecues — few people actually know as much about retirement planning as they think they do.

3 Steps to a Retirement Income Plan: Nobel Prize Winner Helps Out

Friday, September 17th, 2021

Figuring out how much income you need during retirement and formulating a retirement income plan is the most important aspect of financial planning. Don’t believe me? Well, the theory is advanced by Robert C. Merton, recipient of the 1997 Alfred Nobel Memorial Prize in Economic Sciences and Distinguished Professor of Finance at the MIT Sloan School of Management.

Can I Afford to Retire?

Tuesday, August 31st, 2021

That fearful question is what holds many people back from taking the plunge, but a little fact-finding & proper planning could give you the information you need to make an informed decision.

Sequence-of-returns risk could undo years of careful planning

Wednesday, May 19th, 2021

Here’s how that happens, and a couple of ways to help avoid it.

The Perfect Storm for Retirees

Friday, April 23rd, 2021

Today’s retirees could face a perfect storm because they are living longer and spending more time in retirement, while at the same time losing access to traditional pension plans. This means they may have to use different financial planning strategies than retirees of the past.

Social Security Basics: Claiming & Maximizing Your Benefits

Sunday, April 11th, 2021

Claiming Social Security benefits at the right time means more money in your pocket. Here's a guide to help understand and maximize your benefits more.

Required Minimum Distributions (RMDs)

Monday, April 5th, 2021

Last year, the passage of the CARES Act waived required minimum distributions (RMDs) for everyone. However, that waiver has ended, and now, if you’re of RMD age, you must ensure that you take your RMD this year and in subsequent years.

Money Moves to Make in the Decade Before You Retire

Wednesday, March 24th, 2021

For most people, retirement seems like a faraway dream, something that will happen “one day.”

5 Things You Need to Decide Before You Can Retire

Friday, February 19th, 2021

You’ve got to think these things through and make sure all your bases are covered before you can finally call it quits and retire.

Do Stimulus Checks Increase the Tax on Social Security Benefits?

Monday, January 18th, 2021

The answer to this question comes down to whether a stimulus check increases "provisional income."

6 Birthdays to Know for Retirement

Friday, January 15th, 2021

There are important milestone ages to note before and throughout retirement. Mark these birthdays on your calendar to boost your retirement income and avoid unnecessary penalties.

Shift from a savings mindset to a spending mindset for retirement

Wednesday, December 30th, 2020

After decades of planning and putting money away, you may think it would be easy for most people to shift from a savings mindset to a spending mindset. Yet one often overlooked aspect of retirement planning is income draw down.