Are you aware of the different options available to you when saving for your children’s (or grandchildren’s) college costs? Here is a glimpse at each option. Read More
Life insurance blah blah blah. Is that what you hear when someone mentions it as part of your new job’s employee benefits round-up or when you see something about it on TV or social media? Not to worry: we’ve got the low-down on what you need to know. And it’s really not as overwhelming (or underwhelming) as you might think.
COVID-19 has led families to cancel travel plans, get (semi!) comfortable with homeschooling kids and deal with all kinds of other inconveniences.
As if that weren’t enough, it’s also making many families take a closer look at their finances and make sometimes difficult financial decisions. Read More
We get it: No one wants to think about death—for us or the ones we love. And a lot of people equate life insurance with death. And while it IS there if the worst were to happen, it can also do so many other things, and doesn’t have to break your budget while doing it. Check out these great reasons to consider life insurance:
Financial advisors and academic researchers worry the Cares Act’s pandemic-hardship provisions are encouraging savers to view their 401(k) accounts as de-facto emergency accounts, an attitude that could result in significantly lower balances upon retirement. Read More
Getting ready for retirement requires consistent saving, prudent investing and successfully avoiding penalties and fees. You can build a nest egg faster if you take advantage of workplace retirement benefits and make optimum use of government programs, including Social Security and Medicare.
Here’s how to make a basic financial plan for retirement:
Each type of retirement benefit has a different eligibility age. Your age plays a big role in how much you can expect to receive from Social Security and what you need to do to avoid retirement account penalties. Remember to factor these important ages into your retirement plan.
It’s no time for investors to get complacent.
The S&P 500 may have erased its losses for the year earlier this week, but volatility returned with a vengeance on Thursday afternoon, with the Dow plunging more than 1,500 points. Uncertainty remains over how the coronavirus may play out in months to come -– and what that will mean for the market going forward. It’s a good time to make sure your portfolio is in order.
- The number of pension plans dropped to about 46,700 in 2017, from 103,000 in 1975.
- During the same time, defined-contribution plans such as the 401(k) grew to 662,800, from 207,700.
- If you’re leaning toward choosing guaranteed lifetime income by remaining in the plan instead of taking the lump-sum offer, be sure you have confidence in your employer’s long-term viability.
William Mark lost nearly all of the $800,000 he put into ETNs.© Aaron Vincent Elkaim for The Wall Street Journal
When William Mark decided to get back into investing after the 2008 financial crisis, he looked past stocks and bonds. Needing to play catch-up with his retirement portfolio, the piping engineer decided to bet on a complicated product he hoped would deliver double-digit annual returns. Read More
The COVID-19 crisis has complicated the employment situation for many Americans. Many companies are trimming their workforce, and some will offer early retirement packages or normal retirement to eligible retirees as part of their efforts. Read More
Snag deals and reroute extra funds to reduce your overall expenses during the COVID-19 outbreak.
Cooking at home and walking frequently can improve your well-being – and give your finances a boost. (GETTY IMAGES) Read More
- Retirees likely experience legitimate fears during extreme market volatility, so questions both emotional and practical must be acknowledged and addressed.
- It’s important for retirees to maintain a healthy allocation to stock exposure in order to ensure that their lifestyle keeps up with inflation.
- Retirees with a sound, goals-based investment strategy can rest easy; those without one should use this hysteria du jour as the catalyst for a substantive portfolio review.
As coronavirus anxiety grips the markets and knocks the S&P 500 index (^GSPC) as much as 18% off its February highs, it’s scary times for any investor, even one with long-term goals.
It has been a rough week on Wall Street, one of the roughest since 2008.
The S&P, the Dow and the NASDAQ are all way down, largely on coronavirus fears. And it’s not just Wall Street. Markets are down across the globe.
Stock markets around the globe were rocked on Monday as fears of the coronavirus spread. The outbreak has now spread to Europe while officials in South Korea raised its coronavirus level to the highest level following an increase in confirmed cases in the country.
Social Security benefits are designed to replace around 40% of your pre-retirement income. Unless you have a pension, any additional money you need has to come from savings. Read More
For most of your life, saving for retirement probably wasn’t a high priority. But as the years count down on your career, nerves set in and rhetorical questions start flooding your head: Have I saved enough? Did I invest too aggressively? Do I have the right kind of insurance?
The Secure Act, a federal law attached to broader spending legislation, now allows 529 plans to use funds to repay student debt.
If your employer offers a 401(k) plan, taking advantage of the potential savings this retirement account offers can have lasting benefits. These plans provide a chance to set aside funds that can be deducted from your taxes each year and build earnings over time.
The so-called three-legged stool of retirement income — Social Security, pensions and savings — is becoming less accessible for many Americans.
Instead, many individuals ages 60 and up are increasingly relying on just one source — Social Security — for money in retirement.
Americans are living longer, so those retiring today and in the future must plan for a longer period of spending than previous generations.Read More
San Antonio-based USAA announced that it’s selling its investment management business to Ohio-based Victory Capital Holdings Inc. for at least $850 million.
Charles Schwab became next in line for part of the San Antonio-headquarted company. Specifically, Schwab, based in San Francisco, agreed to buy USAA Investment Management Co. for $1.8 billion. It is uncertain how this transaction will impact Victory Capital’s efforts.Read More
The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell this week that signaled easier monetary policy could be implemented later this month.Read More
If something doesn’t seem right in your retirement savings strategy, the best time to figure out where improvements could be made is now. Catching pitfalls early can help you secure a comfortable retirement later. Here are some warning signs that something might be wrong with your retirement plan, as well as simple fixes to get back on track.Read More
Has the Dow’s big tumble this week, sparked by renewed jitters over the U.S.-China trade fight, brought back not-so-distant memories of the market’s wild ride in late 2018?Read More
April is National Financial Literacy Month, but this week is National Retirement Planning Week, which means it’s time for yet another round of depressing statistics about how unprepared many people are for retirement.Read More
Fiduciaries have a “duty to care.” That means these obligations extend beyond the first meeting. A fiduciary will continually monitor a client’s investments and financial situation and adhere to best practices of conduct for the duration of the relationship.
Rather than focusing on the turbulence, wondering whether you need to do something now or wondering what the market will do tomorrow, it makes more sense to focus on developing and maintaining a sound investing plan. A good plan can help you ride out the peaks and valleys of the market and may help you achieve your financial goals.
Just checking in on your accounts can prompt you to take action. But the problem is those choices are often driven by your emotions at the time.
Gyrating markets, rising rates and significant market volatility will always create anxiety for investors and leave them with a bad, sinking feeling.
Get ready to save more for retirement in 2019! The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2019, and there are a lot of changes that will help savers stuff these accounts.
The volatility that is often associated with the month of October has arrived with the market sell-off on Wednesday, October 10. Experiencing market declines and increased volatility can be unnerving for any investor, but if we can take a step back and see the big picture, that the market and economic environment remain positive, it can be easier to weather these challenging periods.
Presenting the LPL Research Midyear Outlook 2018:
The Plot Thickens, packed with investment insights and market analysis to guide you through all the action we may see in the year ahead.
When we as investors began 2018, we were tuned in to the recent fiscal policy changes that were
expected to propel economic activity and the financial markets higher in the coming year. The
handoff in leadership from monetary policy to fiscal policy was well underway as a driver of
consumer spending, business investment, and corporate profits. Instead of depending on the Federal
Reserve (Fed) to move this expansion forward, fiscal incentives are now critical for continued
growth, with the new tax law taking the lead.
You have managed to save as much as possible right? Day in and day out, you maximize the heck out of your 401k. Save money here, save money there. Now its time for your big day. Are you prepared? Do you have the resources you will need to succeed in retirement? These are serious questions and they deserve professional answers. Let us take all the hoping and wishing out of the equation, and develop a plan that will have you more than prepared and excited when your day comes! Here is a perfect example of what we can do for you. Take a look!
It can be tough to imagine retirement when it’s far in the future. But the decisions you make now about saving and investing will impact the retirement lifestyle you get to live. To simplify the process, try spending a small amount of time, such as an hour or two, working on your retirement plan. You’ll find small changes often make a big difference later, when you’re ready to step into the next phase of life. Follow these steps to improve your retirement strategy.
You’ve worked long and hard to accumulate the assets that you are using to help finance your retirement. Now, it’s time to start drawing down those assets. Exactly how you liquidate your assets will affect your tax and impact how long those assets last, so it pays to plan a withdrawal strategy that is efficient and maximizes the benefits of different types of investments.
So you’re on the verge of retirement and you’re faced with a difficult choice regarding the defined-benefit pension plan you’re fortunate enough to have: Should you accept the traditional, lifetime monthly payments or take a lump sum distribution? Understandably, you might be tempted to go with the lump sum. After all, it may be the largest single disbursement of money you’ll ever receive. Read More