Posts Tagged ‘retirement planning’
The Triple Dangers of Inflation for Pre-Retirees: Safeguard your financial well-being and ensure a secure retirement
As the economic landscape continues to shift and evolve, one specter looms ominously over the horizon: inflation. For pre-retirees, individuals who are on the cusp of transitioning into their golden years, the effects of inflation can be particularly devastating. With each uptick in the Consumer Price Index (CPI), the financial security and stability of those…
Read MoreQuestions to Ask If Navigating a Solo Retirement: Ensure your retirement is not only secure, but also vibrant and fulfilling
Embarking on retirement alone, either by choice or due to unforeseen circumstances such as the loss of a partner or divorce, presents a unique set of challenges and considerations. With the rise in divorce rates among those aged 50 and older, and the reality that over a quarter of individuals over 60 live solo –…
Read MoreImportant Considerations When Building Your Retirement Plan in Your 40’s, 50’s and Beyond
As individuals enter their 40’s, 50’s and beyond, retirement planning takes on added significance. With retirement looming closer, it becomes increasingly important to reassess financial goals, adjust savings strategies, and ensure a secure financial future. Here are some important considerations for continuing to build your retirement plan in your 50s and beyond: Evaluate Retirement Goals:…
Read MoreRecent IRS Updates to Defined Benefit Plans: An opportunity to fine-tune your approach to pension risk management
The IRS has released the 2024 mortality tables, which will be instrumental in funding, determining minimum lump-sum distributions, and various other calculations that affect the financial health of your pension plan. This update marks the first major revision to the base mortality rates since 2018 and includes adjustments to consider the impact of COVID-19. The…
Read MoreRetirement Planning: A Map to Changes in 2024
Navigating these demands an adaptable approach to financial planning As we kick off 2024, the world of retirement planning is undergoing a fairly significant transformation, as tax brackets, retirement contribution limits, estate and gift tax exemptions, among other things, are set to undergo upward revisions. Additionally, the gradual introduction of Secure 2.0, a pivotal retirement…
Read MoreMedicare Will Not Cover All Health Care Costs: There are out-of-pockets, limitations and gaps that Medicare doesn’t cover
Medicare is a federal health insurance program for individuals aged 65 or older and certain younger people with disabilities. And despite being a widely used program, there are several misconceptions surrounding Medicare, one of the most pervasive being that it will cover all healthcare costs. Myth or Fact: Medicare Will Cover All Health Care Costs…
Read MoreAvoid the Crippling Hill That Jack and Jill Went Up: Sometimes the best financial advice is the simplest: tough, objective love
The couple had made every mistake you could: retired too early, spent too much, took on too much house and too much debt. “This is killing me,” Jill told their new advisor (me), as she burst into tears. Jack and Jill left their well-paying jobs in their late 50s, with little idea how they would…
Read MoreThe Problem With the Retirement Age: Too High It’s time for us (you) to rethink the retirement age and make adjustments
As the wealthiest society in human history, it is reasonable to expect that we should prioritize the well-being of our citizens, particularly as they age. Yet, the current retirement age is increasingly seen as problematic, with many arguing that it is too high. Let’s explore the reasons behind this viewpoint and make a case for…
Read MoreThe Ultimate Downsizing Checklist Before Retiring: By focusing on goals and priorities, you can create a new, simplified lifestyle
As retirement approaches, many older adults consider downsizing their home as a way to simplify their lives, reduce expenses, and focus on what truly matters. While the process can be emotionally and physically challenging, it can also be liberating and rewarding. To help you navigate this transition, we’ve compiled a comprehensive checklist for downsizing your…
Read MorePlanning Matters When Retirees Start Traveling: Practical tips to embark on peaceful and secure adventures in retirement
Retirees often have the time, freedom, and desire to explore new destinations and make the most of their golden years. With careful planning and attention to detail, senior travelers can ensure their trips are safe, enjoyable, and stress-free. Here are five practical tips to help retirees embark on peaceful and secure adventures. Choose Your Destination…
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