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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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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How Do You Know if Your Financial Plan is Working for You?

An effective financial strategy can help reduce stress in your life. But the question is I hear most often is, “How can I tell when my financial plan is working?” Here are some preliminary questions you can ask yourself to help you assess how your financial strategy is working for you. Will my plan work in a strong…

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Consider the “Small Stuff” in your Financial Planning…

I’m watching with pride and mixed emotions as my daughter, Brandi, gets ready to head off to college. The house is littered with stacks of clothing, bedding, towels, shelf organizers and backpacking gear Brandi thinks she’ll need. My wife has informed Brandi that NO PACKING or STACKING can take place in the living room as…

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Add Good Health to Your Retirement Plan

People who plan for their retirement, emotionally as well financially, are often less likely to feel depressed or have difficulty adjusting to this new stage of life. Three steps to consider when mapping out your healthy second act: 1. Recreate Your Social Network It’s likely that when you retire, you’ll miss the easy camaraderie of…

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Sneaky Expenses that can Wreck Your Budget

You may be surprised to learn that it’s not the big-ticket items that are likely to blow your budget. The real culprit is the gradual increase in your spending habits on the little, almost unnoticeable, things in life. Here are four common causes of “expense creep,” which can easily add up to more than $5,000…

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The Four Habits of Happy Retirees

The most successful retirees are the ones with the biggest bank accounts, right? Not necessarily. Though being comfortable and happy in your post-career years has a lot to do with the financial planning you do before leaving work, it’s also about attitude. Retirement, after all, isn’t just that red-circled date on your calendar; it’s also…

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Four Threats to Your Retirement

Even if you’ve been saving and planning carefully for retirement, these unforeseen issues can disrupt and delay your retirement: 1. A Medical Crisis Medical bills are the leading cause of bankruptcy in the United states. An injury or chronic illness can drain your financial reserves. You can protect your income with disability insurance which replaces a portion…

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Two Important Keys to Retirement

Ever find yourself bogged down or intimidated by all the things you’re supposed to have done to prepare for retirement? It’s true that’s there’s a lot to consider as you plan for retirement. But sometimes, as my mother used to say, “It’s hard to see the forest for the trees.” In other words, it’s easy…

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