Category: Money Matters

4 Tips for Your Retirement Planning as a New Year Brings New Hope

COVID-19 took a heavy toll on the U.S. economy in 2020, causing millions of job losses and forcing many businesses to close. It also affected lots of retirement plans in the process. A survey by the Pew Research Center found that 36% of Americans who save regularly are saving less because of the pandemic, and… Continue reading 4 Tips for Your Retirement Planning as a New Year Brings New Hope

Stressing Over Your Retirement Plan? 5 Ways To Boost Savings, Reduce Anxiety

Many Americans have long stressed over their finances, and the COVID-19 pandemic has increased that anxiety, a survey shows. Well over 80% said the crisis is causing them stress with their personal finances, according to the National Endowment for Financial Education. One of the top stressors, many studies have shown, is having enough money saved… Continue reading Stressing Over Your Retirement Plan? 5 Ways To Boost Savings, Reduce Anxiety

Creating Holidays with Meaning: Tips to Spend Less, Enjoy More in the COVID Era

Among predictions for the 2020 holiday season, the pandemic is expected to set new records for e-commerce while straining delivery capacity. It also has people re-evaluating what really matters in their lives.   Every crisis presents us with opportunities. The pandemic has resulted in a jump in the savings rate, most of which is in accounts… Continue reading Creating Holidays with Meaning: Tips to Spend Less, Enjoy More in the COVID Era

Aging & Financial Fragility: How Seniors Can Use Their Experience to Survive & Thrive Through Giving

“Good judgement comes from experience…unfortunately experience comes through bad judgement.” These  words of wisdom came from my father, a depression era baby who was very pragmatic. He constantly tried to guide me to protect myself in what he called a “dog-eat-dog” jungle out there. Certainly, seniors need to be very aware and cautious of “get… Continue reading Aging & Financial Fragility: How Seniors Can Use Their Experience to Survive & Thrive Through Giving

4 Key Lessons Crisis Teaches Us About Retirement

Over the past couple months, many investors have become worried about the future of their retirement plans. Between health concerns, the volatility of the stock market and forced isolation, it’s safe to say that there has been both reason and opportunity to question what our future in retirement might look like. If you’re considering retirement… Continue reading 4 Key Lessons Crisis Teaches Us About Retirement

Shelter from the Financial Storm

As you approach and then enter retirement, it’s wise to gradually shift much of your savings into vehicles that guarantee your principal while providing a good interest rate. The stock market’s extreme volatility in 2020 shows that relying too heavily on equities exposes mature investors to unneeded risk. They need ways that reduce risk while… Continue reading Shelter from the Financial Storm

Income Annuities Provide Invaluable Longevity Insurance but Are Still Underused

Few adults would go without auto, home, life or health insurance. But the kind of insurance that protects against the risk of running out of money in old age is still greatly underutilized. It’s called a deferred income annuity or a longevity annuity. Most people planning for retirement should strongly consider an income annuity, and… Continue reading Income Annuities Provide Invaluable Longevity Insurance but Are Still Underused

A Year-End Checkup for Long-Term Financial Success in 2020 and Beyond

As 2019 wraps up and 2020 approaches, it’s a great time to make sure your savings and investments are aligned with your goals and not creating unnecessary taxes. Here are some key steps. Figure out how much income you’ll need in retirement. You can do it at any age, but it’s especially important in your… Continue reading A Year-End Checkup for Long-Term Financial Success in 2020 and Beyond

Ready to Retire? 5 Steps for Getting a Good Night’s Sleep After the Paychecks Stop

Those early days of retirement can be exciting as you are finally rewarded with a little rest and relaxation after all those years of toil. But it can be a bit unsettling as well when the regular paychecks you counted on stop appearing in your bank account. That’s why anyone who’s still a few years… Continue reading Ready to Retire? 5 Steps for Getting a Good Night’s Sleep After the Paychecks Stop

Pension or Lump Sum? Compare Payouts before You Decide

About half of pension plan participants can choose to take their money in a lump sum when they retire. If you have that choice or are offered a buyout, what’s your best option? Securing guaranteed lifetime payments directly from your company pension plan would seem to be a no-brainer unless you’re facing a financial emergency.… Continue reading Pension or Lump Sum? Compare Payouts before You Decide

Are You So Focused on Retirement That You Are Missing Out on Your Life?

Mary and Pete saved every penny for retirement. They never went on vacations, they rarely went out to eat, and they lived a frugal lifestyle secure in the knowledge that when they retired, they would be able to live comfortably. In short, they worried so much about retirement that they forgot to experience all that… Continue reading Are You So Focused on Retirement That You Are Missing Out on Your Life?

Spring Savings Tips to Plant a Prosperous Future

Two-thirds of Americans are limiting their spending each month, and among those 36 percent are doing it to save more money, a recent Bankrate survey finds. That’s good news since another survey finds 70 percent would have difficulty meeting their financial obligations if their paycheck were delayed for even one week! Here are five tips to… Continue reading Spring Savings Tips to Plant a Prosperous Future

3 Signs that It’s Time to Break Up with Your Life Insurance Agent

Trust and communication are key to any successful relationship, especially when it comes to managing your money. It’s a good idea to periodically reevaluate your relationship with your life insurance agent to make sure they’re prioritizing your needs over their profits. Many people don’t trust life insurance agents, but the process has traditionally been so… Continue reading 3 Signs that It’s Time to Break Up with Your Life Insurance Agent

Cut Your Taxes in 2019 and Beyond

January is a good time to reassess your financial situation, including taxes. The first step is to estimate your 2018 federal and state income taxes. Once you understand what’s driving your taxes, you’re in a good position to take action to minimize them so you can save more for retirement. Despite a reduction in overall… Continue reading Cut Your Taxes in 2019 and Beyond

Mutual Fund Managers: No More Rock Stars

The era of celebrity mutual fund managers is over. A few titans retired with their reputations intact, but many have been shown to have feet of clay. Even in this era of indexing, there’s still a place for active management for a certain part of your portfolio. But don’t hitch your investment wagon to a… Continue reading Mutual Fund Managers: No More Rock Stars

3 Reasons to Consider Reducing the Risk In Your Retirement Portfolio

Disturbed by recent ups and down in the stock market? If you’re an older investor, that may mean it’s time to re-think just how much risk you’re carrying in your retirement portfolio. Otherwise, your tranquil golden years could devolve into a time of overwhelming financial stress. If you’re not unsettled after the stock market action… Continue reading 3 Reasons to Consider Reducing the Risk In Your Retirement Portfolio

Is Your Universal Life Insurance Policy about to Crash? What to Do If It Is.

If you’re stuck with a failing universal life insurance policy, what should you do?  People who bought these policies in the 1980s and ‘90s are now often stuck paying much higher premiums to keep the policy in force. Since many of them are retired, they find it hard to shell out more. If you’re in… Continue reading Is Your Universal Life Insurance Policy about to Crash? What to Do If It Is.