General Insights
The Importance of a Good Withdrawal Plan
So, you’ve developed a financial plan for your future. You know how you’re going to accumulate the savings and investments needed to provide a comfortable retirement. But do you have a plan for withdrawing savings during retirement? If you don’t create a well-thought out plan for accessing funds from your accounts, you could lose savings…
Read MoreJune Is Alzheimer’s & Brain Awareness Month
It’s difficult to find someone who has not been emotionally and/or financially impacted by Alzheimer’s. Alzheimer’s is one of our nation’s costliest diseases. According to the Alzheimer’s Association, total payments for all individuals with Alzheimer’s or other dementias are estimated to total $355 billion in 2021 (not including unpaid caregiving). Sadly, afflicted individuals without adequate…
Read MoreProtecting Our Children
We make sure our children use seat belts in the car, wear helmets when they bike, and never run with scissors. But there is one danger we may not be considering: identity theft. According to Identity Theft Resource Center, 1.3 million children’s records are stolen each year. And a study by Carnegie Mellon University’s CyLab…
Read MoreNational 529 College Savings Plan Day
May 29 is National 529 College Savings Plan Day, a great time to focus on this important tool in planning for future education. 529 College Savings Plan funds were created to help families save for college tuition, books, and room and board. The money you contribute grows tax-free, and qualified distributions aren’t taxed. Although contributions…
Read MoreRetirement Plans for Small Business Owners and the Self-Employed
Nearly half of all Americans own or work for a small business. This is Small Business Week, an annual recognition of the critical role entrepreneurs and small business owners play in our economy and the challenges they face. Today’s article looks at one specific challenge – retirement saving – and several potential options. Simplified Employee…
Read MoreCan You Afford to Miss Months of Work?
It won’t happen to me. It’s easy to think that way when considering the possibility of being out of work due to a debilitating illness or injury. But the numbers paint a different picture. More than one in four of today’s 20-year-olds can expect to miss work due to a disability for 90 days or…
Read MoreMake Your Tax Refund Work for You
If you’re one of the millions of Americans receiving a tax refund this year, why not use that money to reap long-term benefits? The following seven options could make a lasting impact on your financial well-being: Boost or replenish your emergency fund. Having an emergency fund to cover basic living expenses is an important step…
Read MoreWithout Umbrella Coverage, Your Assets Could Be at Risk
You’ve worked hard to build up your nest egg. But what would happen if you were involved in an accident, which left you liable for an amount above the limits of your homeowners or auto insurance? All your hard-earned assets could be gone over night. To protect your savings, you may want to consider adding…
Read MoreRoth IRAs Attracting Attention This Year
Undoubtedly, you’ve heard speculation about future tax increases due to increased government spending during the pandemic. Such predictions have more people considering Roth IRAs since money that goes into these accounts has already been taxed, earnings grow tax-free, and qualified withdrawals are not taxed. If you’ve never had a Roth, here are some things to…
Read MoreAvoid These Medicare Mistakes
If you’re a newcomer to the complex Medicare system, or will be soon, it’s wise to research potential options and pitfalls to prevent future regrets. As a starting point, here are a few mistakes to avoid: Missing Part B deadlines. If you’re already receiving Social Security benefits at 65, you’ll automatically be enrolled in Part…
Read More