Boomers and the New Retirement

This Coronavirus pandemic is changing everything. Sure, you can tell yourself it’s only temporary and convince yourself that things will soon return to normal, but it’s highly unlikely that will happen (however, there’s nothing wrong with a little optimism!). For those of you Boomers out there getting ready for retirement, it will be different. First off, of course, is the fact that the economy and markets seem to have taken a turn. Yes, we are in a recession. That’s usually not a good thing, especially if you are planning on your portfolio or investments to keep making you money in Continue reading Boomers and the New Retirement

It’s Almost the End of the Year. How Are Your Retirement Savings?

I’ve talked about it from time to time over the past few months, but now that there are only a few short days left in 2019, it’s a good time to review your retirement savings accounts. Over the past year: Where you able to save as much as you wanted to or intended to? Did your beneficiaries change? Did you open any new accounts? Did things change personally or professionally that would impact your retirement savings? These are important questions that you should be asking yourself at least once or twice a year. Regardless, the end of the year is Continue reading It’s Almost the End of the Year. How Are Your Retirement Savings?

Could Congress Soon Expand Your Retirement Options?

Regardless of the outcomes of yesterday’s elections, it appears that Congress could be poised to expand retirement options in the near future. The Retirement Enhancement and Savings Act (RESA), which appears to have bipartisan support, could expand retirement plan access for many workers as well as allow more employers to offer such plans. The biggest selling point of the legislation is that it will allow small businesses to band together–pooling resources and increasing buying power–and offer multi-employer retirement plans (MEPs) to employees similar to those offered by larger businesses and corporations. This can be an enticing offer for small businesses Continue reading Could Congress Soon Expand Your Retirement Options?

RMD and Small Business Retirement Plan Changes Could Be Coming

President Trump is expected to sign an executive order today that will direct the Treasury to review the rules on required minimums distributions (RMDs). The initiative directs the Treasury Department to review the rules regarding whether investors can keep more money in 401(k)s and IRAs for longer periods of time, most likely beyond the account owner turns 70½. If changes are made, they could allow for retirees to have more control over when they are required to begin taking money out of their retirement accounts. The executive order also focuses on small businesses and their ability to offer retirement savings plans Continue reading RMD and Small Business Retirement Plan Changes Could Be Coming

Investment Strategies Don’t Last Forever

There is no such thing as a “set it and forget it” investment strategy. As much as people would like the ease of being able to pick just one investment strategy and never have to worry about it again, that’s just not how it happens. As knowledge of the markets evolve–with the help of technology–so to do investment strategies. What was a common trend even just ten years ago may be outdated or proven to be ineffective now. Furthermore, you need investment strategies that fit your life and goals and those are things that will also change and evolve over Continue reading Investment Strategies Don’t Last Forever

When Retirement Isn’t a Choice

There are a lot of choices involved with retirement planning. From where to save to how much to save, retirement can seem like choice after choice. But today we are going to talk a bit about when retirement isn’t a choice. Yes, that happens and it’s not uncommon. Companies change, injuries happen, life takes sudden turns. While there isn’t much you can do to plan for an unexpected retirement–after all, it’s unexpected–you can take steps to realize just how you would handle such a situation and have a plan that is ready to be put into place should you suddenly Continue reading When Retirement Isn’t a Choice

Retirement Investing: Don’t Just ‘Set It and Forget It’

If you aren’t well-versed in investing or don’t really care enough about the markets to watch them all day long, you probably want an easy way to invest your retirement savings without having to do much work. Luckily, many employer-based retirement plans are designed to make your retirement contributions and investments automatic, so you won’t have to do much thinking when it comes to investing. However, just because everything is automated doesn’t mean you have to completely ignore it. In fact, you should be checking your retirement account monthly (or at least a number of times throughout the year) and Continue reading Retirement Investing: Don’t Just ‘Set It and Forget It’

Is Your Retirement Date Flexible?

We don’t always get the chance to retire when we want to. Sometimes a person might be forced into an early retirement while another person may find that they aren’t quite ready–financially or otherwise–and thus, will need to work a bit longer than anticipated. Working an extra few years (or even an extra few months) can work wonders for your nest egg and help increase it’s value. Furthermore, the last years of your career tend to be the highest-earning years, which provides a chance to play catch-up with your retirement savings, especially when it comes to contributions. However, unexpected life Continue reading Is Your Retirement Date Flexible?

Keep Looking Forward in Retirement Planning

I’ve talked here over the past week or two about the recent ups and downs of the stock market and how it can be an emotional roller coaster for some and that markets go up and down as a matter of life. Along with that, I also want to remind those of you who are planning for retirement to keep looking forward, especially during times of market corrections and downturns. Sure, you might regret some decisions you made with investments and planning, but you shouldn’t dwell on them. Instead learn from those and keep moving forward. It can be easy Continue reading Keep Looking Forward in Retirement Planning