I’ve said it before and I’ll say it again, but saving for retirement can seem like a daunting task for many Americans. Aside from the fact that the amount you will need for your nest egg seems to get bigger and bigger, there’s also the many current expenses people face that can make future expenses…
Category: Food for Thought
Questions and thought provocation
The IRS Making Things Confusing? No Way!
The IRS recently put out some instructions regarding the 10-year payout rule, which some industry experts have interpreted as an attempt to clarify things. So things should be straightforward now, correct? Wrong! In fact, the recent attempted “clarification” by the IRS only seems to make things more confusing. When the SECURE Act was signed into…
Maybe You Should Review Your Retirement Plans a Bit More This Year
When it came to finances 2020 was not a normal year for American savers. Many people lost jobs or were out of work for long periods of time. Even those that managed to keep working may have seen hours cut or anticipated–and many times vital–bonuses never come to fruition. While 2021 is looking better than…
Your Emergency Fund and You
Most, if not all, financial advisors and wealth managers think it’s a good idea to have some sort of emergency fund set aside. Such funds can range from a savings account that you stash away money in every so often to investment accounts to a plan to sell off certain assets you may have to…
Should You Save or Invest? Why Not Both?
Ah, the infamous retirement planning question: Should you save or should you invest your nest egg to grow it? Some people believe in the idea that you should make your money work for you and that the best way to do that is to invest it. While others argue that there is risk involved in…
Something to Think About If You Have Multiple Retirement Accounts
It’s not uncommon for an American worker to have more than one retirement plan account. Most likely they have an account through their employer and either a Traditional or Roth IRA that they keep under their own name. There’s nothing wrong with this and it’s not frowned upon to have such a set-up. In fact,…
Let’s Talk About GameStop and Investing
GameStop stock hoopla was all over the news last week. It’s only natural that I share some reminders about following trends and being smart with your investments.
Do You Focus on Your Debt or Saving?
Some say pay down your debts first while others believe in treating yourself first. What do you believe?
It’s the Beginning of the Year…Are You Ready for 2021?
Now that we are over a week into 2021, now is as good a time as ever to make sure your retirement plan paperwork is current and reflects your personal choices. Mostly, I would worry about your beneficiary designations. Has anything changed with your beneficiaries over the past 12 months? Have you had any major…
What Are Your Financial Plans for 2021?
The earlier you get started on your plans/goals for the next year the more likely you are to succeed in meeting them.