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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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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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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