Delaying the start of Social Security benefits is a powerful way for retirees to cope with inflation, survive bad investment markets and reduce the risk they’ll run short of money. The advantages of waiting are so great that financial planners often recommend their clients tap other savings, such as retirement funds, to help them delay…
What You Need to Know About Non-Qualified Annuities
In the face of the current adverse economic conditions, many would-be retirees are worried about their financial capacity. Inflation remains elevated, matched with skyrocketing interest rates on borrowing. Financial advisers and personal loan management experts may recommend adding more sources of income to cover their living expenses and loan repayments upon retirement. It’s no surprise…
10 Ways You’re Blowing Your Retirement Savings
Everyone wants to retire and spend the rest of their lives in comfort and happiness. However, the harsh reality is that a comfortable retirement might take a lot of time to reach for many people unless they properly and intentionally prepare for it. More often than not, the financial decisions you make today can have…
Sneaky Ways Inflation Affects Your Money in 2023
January 9, 2023
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By now, you’re probably familiar with the more obvious ways inflation affects your finances. Your money doesn’t go as far at the grocery store, for example. Credit card and other variable-rate debt is getting more expensive as the Federal Reserve raises short-term interest rates to combat inflation. Rates are also rising, albeit more slowly, on…
It’s Not Too Late Too Boost Your Retirement Savings, Reduce Taxes
By Kelley R. Taylor From Kiplinger’s Personal Finance Maxing out your retirement plan contributions can be an effective way to boost savings for retirement and potentially reduce your taxes. With the end of the year fast approaching, along with the 401(k) contribution deadline, here are some reminders to help you take advantage of tax breaks…
3 Ways the Pandemic Influenced Retirement for the Better
November 11, 2022
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Because of the COVID-19 pandemic, Americans say they reevaluated their financial management practices, which included their retirement plans. In a Schwab study, 1,000 Americans between the ages of 25 and 70 were asked how they expected their spending, saving, and financial situations to change as a result of the COVID-19 pandemic. Approximately half of those…
12 Ways You Are Sabotaging Your Retirement
One of the most significant and confusing parts of being an adult is planning for retirement. Retirement savings and concerns are regularly-talked about issues in the news, and, frankly, the talk is not often brimming with encouraging updates. In truth, most Americans aren’t anywhere near as on track for retirement as they think they are….
What to Do When You Enroll in an Employee Stock Ownership Plan (ESOP)
October 14, 2022
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Depending on your company, your employer may offer different benefits packages and retirement plans. One less familiar type of plan you may encounter is an Employee Stock Ownership Plan (ESOP). If you haven’t dealt with these before, you’ll understandably have some questions when your employer offers you one. Nearly 14 million people in the United…
Seniors Don’t Want to Retire Anymore. Here’s Why and How to Help.
Retirement can be a dream for one and a nightmare for another. People treat retirement differently, depending on their requirements and circumstances. While some feel retirement is the time to pack up bags and travel or commit to hobbies they have long paused for, others feel retirement is not the right option. There may be…
Personal Finance for Newbies
Managing your personal finances involves managing both short- and long-term aspects of your finances. It also refers to an industry that offers products and services to help individuals manage their finances and investments. But, if you’re new to personal finance, all that may not mean much to you. So, let’s explain why personal finance is…
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