If you are a regular reader, you can predict that my answer to the question of when you can retire is, “It depends.” That’s because it does depend what exactly you want out of your retirement and what exactly you have put into your retirement up to this point. Here are some ideas to help …
CFP®
What’s My 401k Statement Trying to Tell Me?
For most Americans, their 401k savings program at work is their single largest retirement asset. According to a recent report from Transamerica, “Thirty-nine percent [of baby boomers] expect their primary source of retirement income to be self-funded from accounts such as 401(k)s, 403(b)s, and IRAs or other savings.” The Pension Rights Center estimates that a full 65 percent …
Hate thinking about money? Here’s why it’s still important.
From time to time, I hear people say something like, “Thinking about financial goals gives me a bellyache. Why would I pay somebody to talk about them?” If that’s how you feel, you’re not alone. Most Americans experience some level of anxiety, insecurity or fear about financial issues, according to the Northwestern Mutual 2018 Planning …
Hate thinking about money? Here’s why it’s still important.Read More
What You Should Know About Your Life Savings
Lately, I’ve been hearing some confusion on the part of folks I’ve been talking to about their financial goals. For example, a person said to me, “I’m not sure I want to save money into my IRA this year because I think the stock market will fall soon and I don’t want to lose my …
What Should I Do with My Savings Bonds?
Sometimes a client tells me that they have a portion of their savings “invested” in savings bonds. Usually I get a bellyache when I hear this. Here’s why: Savings bonds are savings vehicles, like money market accounts and CDs. They pay a safe, low rate of interest that competes with money markets and CDs. Savings …
Why Bother with an IRA in 2019?
You probably hear from different sources that you should consider funding an IRA, but you may be wondering, why bother? Here are four good reasons: You can still contribute for tax year 2018 up to $5,500 or $6,500 if you’re better than 50 years old. You have until tax filing day in April 2019 to …