How Can You Position Your Investments to Provide for Your Income Need
How Do You Protect Your Income Against Inflation?
Beyond Beating the Market: Goal-Based Investing to Fund the Retirement You Want
Becoming the Financial Compass for Future Generations
As you’ve been building towards retirement, you have made many financial decisions. Some good, and perhaps some bad. You may have maxed out your credit card on clothes in your early 20s or chose the wrong payment plan for your car loan or home mortgage. Regardless, you’ve navigated many financial obstacles and gained wisdom that can now be passed on to your kids and grandchildren. Although money can be a difficult topic to discuss, sharing this wisdom can help future generations make better-informed financial decisions. These are some topics to raise with different ages. Advice for Ages 5-13 At […]
Making the Switch to Paying Yourself
For most of your life, you’ve probably had a daily routine – from tying your tie to greeting your coworkers to loosening that tie when you get home. When thinking about retirement, not only does your daily routine change but your financial routine does too. In your working years, you made sure to have a savings and wealth accumulation plan. Your retirement goals were focused on building wealth but now, your goal is to spend it efficiently. When you’re going back to school on your retirement plan, you’ll recognize that that’s a much different question to ask of your […]
Preparing for a Financial Emergency
Financial Emergencies. They can be unforeseen home repairs or major appliance replacements, major car repairs, unexpected medical expenses, or even unemployment. 6 out of 10 households in America experience at least one financial emergency in a year. However, about 1/3 of American families do not have any savings and would struggle to come up with $400 to help cover an emergency.1 Financial emergencies happen, but how can you make sure that you are prepared? What is an Emergency Fund? It is exactly what it sounds like. It is a bank account with money set aside for emergency expenses. An […]
What is One of the Highest Expenditures in Retirement?
One of the highest expenditures in retirement is healthcare. Finding ways to optimize your spending on healthcare can help protect your retirement finances in the long run. In 1960, healthcare spending as a percentage of U.S. GDP was only 5%. In 2021, spending hit 18.3% of U.S. GDP, almost quadrupling spending over 60 years.1 The average retiree aged 65 is going to spend close to $315,000 on their healthcare over the rest of his or her lifetime.2 That does include costs such as Medicare premiums, prescription drugs and other out-of-pocket expenses. However, that number does not include any long-term […]
Ways to Make Technology Work for Your Financial Future
Life is busy. And keeping track of your day-to-day finances sometimes doesn’t make the top of the to-do list. How can you make sure you are on the right track when it comes to finances and retirement savings? A 2023 Fidelity report found that the typical American household has saved just 78% of the amount necessary for retirement. Meanwhile, 52% of households may have saved so little that they won’t be able to manage their essential expenses when they stop working.1 Monitoring your spending and making savings and investment goals can help you work toward the financial future you envision. It […]
6 Key Areas of Personal Finance Success
Whether you are deep into your career, nearing retirement, or already enjoying your golden years, there are some personal finance topics that are always relevant. Some aspects of your finances take the back seat, or are at the forefront depending on what phase of life you are in. When you are just starting out your career, you might focus on budgeting and saving. When you get ready to purchase your first home, budget and debt (how much of a mortgage can you afford) take priority. And as you approach retirement, thinking about capitalizing on taxes and structuring retirement income […]
Inflation Affects Your Finances, Even In Small Amounts
There’s been a lot of news about inflation lately. As of July, the inflation rate was around 3.2%.[1] This means that the cost of goods and services, including but not limited to items such as groceries, housing, and gas, has gone up by 3.2% since this time last year.[2] You might think 3.2% is a pretty small number, and maybe you haven’t noticed a huge jump in the costs of the things you purchase every day. So, how could such a small number be important to your savings and your retirement? We’re going to give you an example to […]
