Using your current financial statements, knowledge of your own retirement goals, and some other easily obtainable information, this one-page document can quickly help you determine whether youâre carrying significant risks in your current financial strategy that may put you in jeopardy of outliving your money. It can also be the first step in helping you…
After more than a decade of hovering at normal-to-below-average levels, inflation became a hot topic again in 2021 when it rose to over 4%. By March 2022, it had hit a 40-year high of 8.5%. This prompted the Federal Reserve to take its usual course of action to combat inflation: raising short-term interest rates. Over…
There are many misconceptions about investing. One is that the terms âgrowthâ and âreturnâ are synonymous. They are not. Total return is a sum of two things: income plus growth, as illustrated in the formula: TR=I+G.
The 100th anniversary of womenâs right to vote in the U.S. occurred in 2020. During the last century, women have made great strides in educational achievement and career opportunities. Despite this progress, they continue to be at greater risk than men of not achieving a financially secure retirement. Today, a womanâs path to secure retirement…
Unfortunately, since many financial advisors working today entered the business in the 1980s and 90s, during the best stock market in US history, they became stock market specialists, favoring growth instead of income. Many of them also became heavily focused on mutual funds. Mutual funds, in general, are a murky pool of investments that only…
Passive income has become a hot topic and for good reason. Who wouldnât like to generate income without putting in a hard dayâs work? From teenagers seeking recurring revenue from advertisements on social media to retirees turning their hard-earned nest eggs into a reliable income stream, more people are interested in creative ways to create…
The idea behind Required Minimum Distributions, or RMDs, is that the government wants to give us a tax incentive to save for retirement, but they also want to make sure we donât misuse it. For example, if weâre in the 24% tax bracket and we put money into a tax-deductible IRA or a 401(k), each…
Have you ever bought a pair of pants for your child or grandchild that were too big? Itâs a common occurrence, and when it happens, you have two options: 1) you can throw the pants in the wash and try to shrink them, or 2) you can just sit back knowing that your child or…
Before you retire, you should know what all your various sources of income will be, and how much you can expect to receive from each. Obviously, Social Security benefits will be one of those sources, but how much you can expect to receive depends on many factors. There are ways to help maximize your benefits…
Starting about five years ago I began using the term âIncome Generationâ to describe the demographic encompassing my clients, prospective clients, and myself. To put it simply, the term refers to todayâs generation of retirees and near-retirees. That means Baby Boomers but also older Gen Xers, who are also in their 50s now and nearing…
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