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Are You Prepared for Long-Term Care?
The possibility of needing long-term care is a major factor in your retirement. It's difficult to think about a time when you may need extra assistance with daily tasks, but it's common and can be very costly. Worse still, the costs associated with the first 100 days of a long-term care event are covered by Medicare! You may not have [...]
When to Consider a Roth IRA Conversion
We’re often asked whether it makes sense for someone to convert money from an IRA or a 401(k) to a Roth IRA. In short, it depends. The primary difference between these accounts is how they’re taxed. Roth money is taxed before its contributed and all future growth on the money is tax-free (limited exceptions apply). Traditional IRA and 401(k) money [...]
3 Common Retirement Planning Mistakes
Your golden years are a significant aspect of your life that require diligent saving and careful contemplation. However, the journey towards this phase can be lengthy and complex as it’s filled with numerous decisions and potential missteps. We’re paid handsomely to fix some of these mistakes, so we wanted to highlight a few common areas in which people tend to [...]
How Debt Can Affect Your Retirement
Many Americans are approaching their golden years with some level of debt. In 2016, nearly 61% of US citizens were transitioning into retirement while still bearing debt.[1] While one might assume that expenses would naturally decrease after retiring, that isn't always the case.[1] Variable rate debt, such as Adjustable-Rate Mortgages (ARM) and credit cards, can add unpredictability to your finances [...]
What Are COLAs and How Do They Affect Retirement
If you are currently receiving Social Security or considering how Social Security might factor into your retirement plan, then it’s important for you to understand COLAs. You may have seen the acronym in various information about Social Security, and you may have wondered what it meant. Well, let’s answer your questions about the term. What is a COLA? COLA stands [...]
What is Risk Tolerance, and What Does it Mean for You?
The term “risk tolerance” gets thrown around a lot when it comes to investing. So, what does it mean, and how does it relate to retirement? In simple terms, risk tolerance is a term for how much money you’re able to lose before you start making bad and ill-timed decisions. This term is asymmetric, meaning that it only applies to [...]
A Crash Course in Treasury Securities
Ever wondered what treasury securities are? What about the difference between a treasury note, a treasury bond, and a treasury bill? Let’s uncover what these securities are so that you can have a sense of how they function and why there’s been so much talk lately about treasury yields. What Are Treasury Securities Used For? Treasury securities, or treasuries for [...]
3 Quick Suggestions for Planning Your Estate
Estate planning is a significant undertaking. It gives us a way to transfer what we've accumulated throughout our lives to those we hold dear. Passing down properties and personal items can convey familial bonds and affection and even offer financial assistance to our loved ones. Consider the following for your estate planning when it comes time to ensure that your [...]
