Retirement Planning
Must-Know Retirement Deadlines
When can you access your savings without a penalty? When should you enroll in Medicare? At what age is it best to collect Social Security? In the years leading up to retirement, there are a number of key milestones and deadlines to consider. Without careful attention, it’s easy to miss these checkpoints and the consequences…
Read MoreTarget Date Funds: What They Are and When to Use Them
These financial tools automatically rebalance as you near retirement. A target date fund is an investment instrument designed to become more conservative as it approaches a predetermined future date. For investors looking to simplify their retirement strategies, target date funds can be appealing for their “set-it-and-forget-it” nature. But how do they work and are they…
Read More25 Ways to Make Friends in Retirement
Retirement is an exciting phase of life, offering seniors the opportunity to explore new interests, travel, and spend more time with loved ones. However, it can also present challenges in terms of socializing and making new friends. Research consistently highlights the positive impact of social connections on overall well-being, mental health, and longevity. Friendships provide…
Read More10 Questions To Ask When Relocating In Retirement
Did you know that 40% of workers today plan to move to a different city or region after they retire?1 This underscores a trend of retirees eager to explore new horizons, trade familiar environments for fresh ones, and even redefine what their retirement living might look like. However, the decision to relocate during retirement shouldn’t be…
Read MoreAre You Prepared For A 30 Year Retirement?
The good news? Retirees are living longer. The bad news? Many aren’t planning for it financially. Life expectancy is a key piece of retirement planning. After all, you’ll need to estimate your lifespan to determine how much money you’ll need to retire comfortably. Many pre-retirees speculate on this figure or overlook it entirely. So, how…
Read More3 Biases That Can Sabotage Your Wealth
Making financial decisions can often be more challenging than it appears. A variety of subtle influences can cloud our judgment. Among these, behavioral biases like anchoring, loss aversion, and herd behavior have been found to shape our choices significantly. In this article, we’ll explore each of these biases and ways to counteract their influence. Anchoring …
Read More5 Strategies to Boost Your Retirement Savings
Whether your retirement date is fast approaching or you still have a few years to go, it’s important to take steps to boost your nest egg so you’re better prepared to meet your goals. Consider the following five strategies for maximizing your savings potential. Maximize tax-advantaged contributions Get the most out of your savings by…
Read MoreMoney Conversations are Hard
Do you find it difficult to talk about money with your partner? Join the club. Money is a leading cause of stress in relationships. When it comes to money, communication is key. Constructive money conversations create transparency, establish shared goals, and provide meaningful insights into each other’s perspectives. So, how do you open up the…
Read MoreAnswering Your Kids Toughest Money Questions
Kids ask tough questions about money. It’s how they learn. As a parent, these are teachable moments that offer a chance to impart some financial wisdom to them. Start by asking them questions for clarification. After all, “Why does a lawyer always answer a question with a question?” Answer: “Why shouldn’t a lawyer answer a…
Read MoreHave You Reviewed Your Insurance Policies Lately?
For high-net-worth individuals, having insurance is not only a matter of protecting assets but also ensuring peace of mind. Without insurance, you’re one accident or lawsuit away from draining your savings and jeopardizing your financial security. So, it is critical to have a comprehensive insurance plan that covers all potential risks. Let’s do a quick…
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