Can You Really Save Too Much for Retirement?

Is it possible to save too much for retirement? That may seem like an odd questions. However, the answer is…yes. The answer isn’t so much focused on finances, but rather how saving for the future is impacting your life in the present. Sure, we all want to have that seven-figure nest egg, but what if getting requires forsaking a lot within your current life? I’m not saying you shouldn’t budget and be smart with your money, but don’t get carried away with it. In other words, don’t be afraid to take a vacation from time to time. Or go out Continue reading Can You Really Save Too Much for Retirement?

Are You Prepared for an Emergency?

I recently spoke with some family members in the Northeast who lost power during a  big storm that rolled through. It took them four days to get power back. While they were able to get by just fine, it got me thinking about the importance of being prepared for emergencies. I know I’ve talked about such preparation in the past, but I feel like it’s something that should be brought up from time to time as it’s very important. As you plan for the future and set goals, make sure you are also preparing for the unexpected. That means having Continue reading Are You Prepared for an Emergency?

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

We’re Half Way Through 2020…Can You Handle Another Half?

Wow, 2020 has been a wild ride so far. We started the year off with what seemed like a strong stock market, solid economy, and no fears of COVID-19. That quickly changed less than three months into the year as much of the country came to a standstill after Coronavirus reached our shores. It’s fair to say it’s been a bit of a rough ride since then. It’s also hard to say what the rest of the year will bring. However, 2020 has also brought some big changes to retirement saving and planning. First off, the SECURE Act was signed Continue reading We’re Half Way Through 2020…Can You Handle Another Half?

Coronavirus as Retirement Practice?

Have you found yourself out of a job thanks to retirement? Are you living off of unemployment and savings at the moment? While this may not be an ideal scenario, it can be a good time to practice a bit what life will be like in retirement. In retirement, you probably will have to make your savings last, especially if you don’t plan on working or don’t have passive income as part of your plans. You will need to work on skills such as budgeting and planning. If you are living on unemployment benefits you are already doing the same Continue reading Coronavirus as Retirement Practice?