The Social Security Administration Has Announced Cost of Living Adjustments & Tax Changes For 2021. Here’s What You Need to Know.

2021-06-07T13:58:11+00:00October 15, 2020|Blog, Retirement, Taxes|

On Tuesday, October 13, 2020, the Social Security Administration released important facts and figures for 2021 - including cost-of-living adjustments (COLA) for retirees and tax changes for the currently employed. The Good? Benefits Are Increasing Those receiving Social Security benefits will see a 1.3 percent COLA increase in 2021. This change will impact around 70 million Americans - including 8 million SSI beneficiaries.1 For the average retiree receiving Social Security benefits in January 2021, this [...]

Medicare Open Enrollment Begins Oct. 15th. What Does That Means For Me?

2021-06-07T14:00:18+00:00October 13, 2020|Blog, Insurance, Retirement|

Medicare’s open enrollment period happens once a year between October 15 and December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. This can be a useful option for those who may have recently changed medication, underutilized their current coverage or found they could use additional benefits. How to Search For Medicare Plan Options It shouldn’t take a ton of research to determine what your current [...]

7 Principles of Long-Term Investing

2017-04-18T13:43:49+00:00April 18, 2017|Blog, Retirement|

Increasing your wealth over time is about more than making the right stock picks or always buying low and selling high. Too often, we see intelligent investors hamstring their potential for success by making fundamental errors in their investing strategy. Over the years, we have observed the effects of fear, greed, lack of discipline, groupthink, and many other pitfalls that investors experience. Accordingly, we have compiled this list of seven principles of long-term investing. These [...]

5 Things Retirees Should Know about Social Security Benefits

2017-04-13T12:40:14+00:00April 13, 2017|Blog, Retirement|

Social Security provides an important source of guaranteed income for most Americans. Choosing the right claiming strategy is even more important under new Social Security regulations. For most Americans, Social Security will provide a significant portion of their income in retirement. According to Social Security Administration (SSA) statistics, Social Security benefits account for about 34 percent of retirement income for the average American. One of the biggest mistakes today’s retirees can make is to underestimate [...]

Balancing College and Retirement

2016-10-13T13:35:17+00:00October 13, 2016|Blog, Retirement|

Are you faced with the dilemma of saving for your own retirement while at the same time trying to put money away for a child’s college education? How do you pursue both goals? How do you determine which is more important or what path to take? If this hard choice sounds familiar, you’re not alone. Many Americans today struggle to balance their own financial future with preparing their children for success. As financial professionals, we [...]

5 Estate Planning Questions to Ask About Real Estate

2016-08-07T14:03:25+00:00August 7, 2016|Blog, Retirement|

Preparing your estate in advance is one of the greatest gifts you can give your family. Many estates include real estate in the form of a primary home, vacation home, and other family properties. While inheriting a property can be a wonderful legacy, it also comes with obligations that heirs may be unprepared or unable to fulfill. If you intend to leave real estate to your heirs, ask yourself these five questions to help avoid [...]

How much income do you actually need in retirement?

2016-07-27T18:18:33+00:00July 27, 2016|Blog, Retirement|

One of the most common questions that we get from clients nearing retirement is, “How much income am I going to need to be comfortable?” It’s an important question that gets right at the heart of the retirement puzzle. Although we wish we could give you a round number right here, that just isn’t possible. Too much depends on your personal situation. What is possible is to think ahead about your lifestyle and financial needs [...]

Ten Steps to 401(k) Success

2016-07-27T18:07:23+00:00July 27, 2016|Blog, Retirement|

The 401(k) plan is becoming the single largest source of retirement savings for a majority of American workers. According to the Society of Professional Administrators and Recordkeepers (SPARK), over 55 million people participate in 401(k) plans. If you participate in a 401(k) plan, the good news is that you have more control over your retirement money. The bad news is that you have more control over your retirement money. For people who do not have [...]

How much do you need to retire?

2014-11-03T01:22:06+00:00November 3, 2014|Blog, Retirement|

Retirement Planning – Have you taken the steps to plan for retirement (and I don’t mean just contributing to your 401k)?  In other words, are you on-track to retire when you want?  And will you have enough money to make it through retirement?  You’d be surprised at how many people don’t really know the answers to those questions.  You may have an idea, but do you really feel confident about your answer?  For starters, a [...]

How Much Do You Need to Retire?

2014-05-22T12:31:24+00:00May 22, 2014|Investments, Retirement|

Do you know how much you need to retire and maintain your current standard of living? A recent Forbes article featured a George Washington University professor who has studied savings behavior for two decades. She found that those who have used retirement calculators enter retirement with considerably more in savings. She also concluded that saving more is hard, and if people don’t do the calculations and see the numbers, they don’t save more. Yikes. Drum [...]

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