The global coronavirus pandemic has hurt the American economy as well as the global economy. The recession is significant, but not the first that most people have seen in their lifetimes. During these times of uncertainty, many might be a little concerned about what to do with their retirement savings. But, not to worry,…
About to retire? Congrats! But wait, not so fast, there are a few things you need to know before you say goodbye to your career, and hello to your favorite golf course. Before entering your golden years, take time to consider these best practices to set yourself up for retirement success. Overestimate your…
Lose your job but not ready to retire? With the current market conditions, many Americans are losing their jobs. In fact, according to the Bureau of Labor Statistics, the unemployment rate rose 0.90 to 4.4% in March. This was the largest rate increase over-the-month since January 1975. Losing your job is stressful, no matter…
Are you torn between paying off your debt or investing? As you consider your golden years, you might be asking yourself, “How do I balance paying off my debt, saving, and investing in retirement? Whether you’re decades away from retirement or it is quickly approaching, you should strike a balance between paying off debt…
Any market drop can cause anxiety and fear in even the most savviest of investors. When market downturns happen, you can expect a lot of fear-inducing headlines that can scare consumers into making quick financial decisions. It can be difficult to discern what is trustworthy news and what is just hype. To stay calm and…
This may come as a surprise, but you might not have unlimited funds once you retire. You may have saved plenty of money, but there is a chance that it may run out during retirement. Therefore, it’s wise to eliminate certain retirement expenses that are a waste of money. So, if you want to cut…
According to the American Institute of CPAs, 8 out of 10 Americans are concerned that financial institutions and other businesses may not be able to safeguard their personal information. Unfortunately, just being concerned your retirement accounts might get hacked won’t help protect your information. Taking action is the best way to avoid identity theft…
Did you hear the good news? The IRS increased individual and group retirement account contribution limits this year. Every year the IRS will consider a cost-of-living adjustment and determine if they will increase retirement plan contribution limits. Taking advantage of this increase can help you better prepare for your golden years. So, if you’re…
Wealth preservation is often top of mind for people in or approaching retirement. You have likely worked to build good credit and properly manage your finances for several years. Having a good credit score in retirement is important for many reasons. Thankfully, the actions you take before retirement to maintain a credit score are…
Imagine reaching retirement age only to find you have little to nothing left because you gave it all to others. Proper financial planning and goal setting will help ensure you can retire on your terms. It’s easy to allow outside factors to determine your path, but it’s important to plan for yourself primarily. Read…