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?

Don’t Let Your Retirement Plan Lag!

It’s been a while since I’ve written about updating your retirement saving plans and plans for your post-work life. If you’ve been reading this blog for a while, you’re probably aware of the fact that I do this from time to time. This is another one of those reminders. As we move into the final quarter of 2019, now is a good time to sit down and review your retirement plans and any associated documents. Take the time to ensure that they still match your goals and desires as well as where your current life is at. This means checking Continue reading Don’t Let Your Retirement Plan Lag!

Have You Done a Mid-Year Retirement Review?

July 1 is as close to the midway point of the year as you can get. Six months have passed and six months are left to go. Therefore, it’s a good time to do a review of your retirement savings and plans–not only to make sure you are on track for your yearly goals, but to also make sure your overall retirement plans and goals are still achievable. You will also want to use this review time to make sure the paperwork for your retirement plans are in order. Are the beneficiaries correct? Do you want to contribute more? Will Continue reading Have You Done a Mid-Year Retirement Review?

Don’t Stress Over Excess (Money)!

Worrying about what to do with excess money can seem like an odd thing to do, but it’s actually something that can cause a fair amount of stress. Deciding where to put that money isn’t always an easy decision, especially if you’ve already built up a substantial nest egg, have an investment portfolio, and already have an emergency fund going. The decision isn’t so much about which account needs it the most, but can be focused on what account is the most efficient use of your money or which option has the lowest tax implications. It all depends on what Continue reading Don’t Stress Over Excess (Money)!

Don’t Be Intimidated By Retirement

There’s a really good chance that if you’re reading this blog than you probably have at least some money saved up for retirement. Having at least a couple thousand dollars saved up puts you well ahead of nearly half of all working-age Americans when it comes to saving for retirement. And depending on where you are age and career wise, this may or may not be something you need to fret over. If you are later in your career and are worrying about having a large enough nest egg, then you probably need to get into gear and do some Continue reading Don’t Be Intimidated By Retirement

What Matters the Most in Preparing for Retirement

Is it planning? No. Is it good budgeting skills? Nope. Saving? Bingo! Yes, the most important part of retirement preparation is still saving. Yes, you can have the best financial plan and open multiple retirement accounts, but if you don’t save enough none of that matters. If you’ve been doing research on retirement saving, then you’re probably well aware that many Americans are not saving enough for retirement, especially those of younger generations. Now, there are various reasons why younger Americans are not saving enough, but there is no reason why older generations are not doing so. Saving should be Continue reading What Matters the Most in Preparing for Retirement

Do You Have a Withdrawal Plan?

Do you know how much you will need to withdrawal from your nest egg each year in retirement to live the life you want? In other words, do you have a withdrawal plan? A withdrawal plan can be an important part of your retirement plan, especially once you get into retirement. It’s a way to guarantee that your retirement savings last and ensure that you don’t over-withdraw. There are a couple of well-known withdrawal plans out there already. One common plan is known as the 4% rule. With the 4%, you withdraw 4% of your nest egg during your first Continue reading Do You Have a Withdrawal Plan?

Is Your Employer Helping You With Retirement Planning?

In recent years, you may have noticed your employer offering “financial wellness” services as part of their benefits package. These services are usually centered around retirement benefits, life insurance plans, and–more commonly among big companies–wealth management tools/resources. Financial wellness resources can include a number of offerings, including: retirement planning advice, financial planning services, debt management, and banking services (usually in the form of a credit union). You will most likely find that the bigger the employer, the more diverse the offerings. However, thanks to advancements in financial planning and modeling technology over the past decade, more and more employers are Continue reading Is Your Employer Helping You With Retirement Planning?

Are You Truly Ready to Retire?

If you’re within a few years of your intended retirement date, you’re probably starting to convince yourself that you are ready for it. You probably talk to friends and family about how long you’ve worked or how you’ve saved enough–or just about enough–to no longer need a paycheck or how you’ve started looking forward to the day you retire. If you aren’t near retirement, perhaps you’ve heard an older family member or co-worker talk like that. While it’s true that one may be financially or professionally ready to retire, that does not mean that one is necessarily physically or mentally Continue reading Are You Truly Ready to Retire?