Create an Estate Plan Before You Need it

Having a smart estate plan is essential for everyone—regardless of assets, age, or income. You might think estate planning is something you can put off until your later years, or that it’s just for the super wealthy, or both. But setting up a clear path for what happens to your property and your family after…

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Tips to Fine-Tune Your Finances

We’ve all done it: start the year with a host of fiscal resolutions and good intentions—from breaking bad financial habits to getting on top of our investing game. But somehow, the months whiz by, and from a money management perspective your next New Year’s Eve is looking more like Groundhog Day. Studies show that only…

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How the Wealthy Plan for Retirement

Your approach to retirement planning may be costing you money.  A LOT of money! Instead of thinking of your retirement fund as a “pile of cash,” plan for the monthly income you’ll want to have in retirement. Common financial advice encourages you to save money and then ration out 4-5% from your 401(k) or other…

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Is it Time to Revisit Your Retirement Plan?

You’ve been doing all the right things to get ready for retirement: building up your nest egg, contributing to your 401(k), and sticking to a plan that you or your financial advisor set up years ago. And, you assume, your money’s been growing according to plan. But life changes. Does this retirement plan still work…

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Four Costs Retirees Underestimate

You’ve carefully planned for retirement and estimated the monthly bills for housing, gas, food, entertainment, travel and health insurance. But there are other surprising expenses for which most retirees don’t budget enough, or at all. Here are some of the most commonly underestimated expenses you’ll face in retirement, plus ideas on how to figure out…

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Evaluate Your Retirement Readiness

Retirement can be an exciting chapter in your life. But perhaps you are wondering whether you have enough money to retire and to stay retired? Here are four steps you can take to help you to figure out your retirement situation. Step1:  Estimate Your Retirement Income This means calculating your retirement income from all sources. …

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Your 401(k)…What you need to know to protect your retirement..

I recently read a Wall Street Journal (WSJ) article entitled, “The Champions of the 401(k) Lament the Revolution They Started” (Jan 2, 2017). In part, this WSJ article stated, “Many early backers of the 401(k) now say that have regrets about how their creation turned out…” The article goes onto say, “…Some say it wasn’t…

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Take small steps…..

Remember that achieving financial independence and empowerment is a dynamic process and a journey. You can start out at any age and make a difference.  One of the  questions to ask yourself when you want to make a change is simply, “What am I going to do differently today that will make a difference in six…

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In Review: 4 Financial Questions to Ask at Year End

What will the next year mean for you? Perhaps you’re planning a dream vacation, or sending a child off to college. Maybe this is the year you will retire, or start your own business. Big plans can mean big changes for your overall financial strategy. Now is a perfect time to review your finances in…

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You Can’t Take it With You…Understanding RMDs

You’ve spent years saving for retirement in your 401K, IRA or other qualified plan, but you can’t keep those funds in your account indefinitely. Once you’re 70½ years old, you must start withdrawing money out in what’s called “Required Minimum Distributions,” or RMDs. And it’s not quite as simple as taking a little cash out…

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