For many people, retirement is not a time to slow down and stop. It’s a time to explore the next great chapters of your life and build upon everything you’ve learned and experienced so far. Another thing that doesn’t slow down or stop is taxes. Understanding how taxes could affect your future cash flow will help you create an effective retirement income strategy.
Planning smart for health care in retirement.
The pros and cons of pooling finances with your significant other.
Putting it off and dying “intestate” may not be the legacy you want to leave your loved ones.
Our 2023 investing outlook started with a theme of returning to normalcy.
Specific questions to help frame your thinking as you talk to your heirs.
Retirement savings isn’t the only financial goal you should consider in your lifetime. There are other milestones that you ought to take into account as well.
With your input, we can help devise a plan that puts you on the road to financial security. The result is designed to leave you with sufficient assets so you can maintain your current lifestyle or pursue new interests that you may develop in retirement.
Social Security wasn’t designed to replace all of your income, but coupled with retirement savings, it will provide you with additional support. Besides, you’ve paid into the program your entire working life. When the appropriate time comes to receive benefits, you deserve your monthly check.
Financial markets were shaken last week as Silicon Valley Bank (SVB), the California bank subsidiary of SVB Financial Group (SIVB), fell into FDIC receivership. SVB is the first FDIC-insured institution to fail since 2020 and the largest by assets since Washington Mutual failed in 2008. Prior to the latest distress, the bank held more than $200 billion in assets. SVB’s failure was then followed by another over the weekend, crypto-focused Signature Bank. The news, not surprisingly, caused market participants to speculate if there will be another shoe to drop. For some, these developments have brought back painful memories of the financial crisis 15 years ago.
“Those who work their land will have abundant food, but those who chase fantasies have no sense.” This ancient advice from Proverbs illustrates the importance of financial fitness. What is financial fitness? Well, we are all familiar with the term physical fitness. If pressed for a definition, we might define it in terms of our own ideas and circumstances.
Looking To Teach a Child Some Important Money Lessons? Consider a Roth Custodial IRA. You started early and have saved hard in your 401(k). You’ve also paid close attention to your investing strategy over the years. And you definitely understand the benefits of tax-deferred compounding over the long term and the potential for growth. Heck, you’ve even remembered to change your account password every 90 days. Maybe now it’s time to pay it forward and pass along some of your retirement savings wisdom!
