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How to Recognize and Address Cognitive Impairment
Many of us have experienced our own “senior moments.” Where are the car keys? Why did I come into this room? What’s the name of that person? Most of these memory lapses are a normal part of life and are very manageable. On the other hand, cognitive impairment can progress to a point where it’s […]
2021 Tax Law Changes
Well, it’s finally a new year. I know we’re all hoping it will be better than 2020! As you make your plans for 2021, one of the things to take note of is the change in contribution limits and other tax changes. 401(k)Let’s start with 401(k) contributions, since that’s a retirement fund that I view […]
Retirement Accounts & Taxes
You probably already know that there are several common ways to save for retirement. These include 401(k) and IRA accounts. What you might not be as familiar with, is how these various retirement vehicles are taxed. There are four concepts in the taxation of retirement accounts. First, some accounts allow you to invest money without […]
What Does the New SECURE Act Mean to Your Retirement?
Congress has recently passed new legislation that probably affects your retirement plans. It’s called the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It became effective January 1, 2020. The Act is meant to help more people better prepare for retirement. A summary of the Act follows. Delayed RMDs. Until now, Required Minimum Distributions […]
Transitioning to Retirement
Retirement — kind of has a nice ring to it, doesn’t it? For many of us, it means starting a new chapter in our life and doing some of the things we didn’t seem to have time for while we were working. I’ve written before about some of the financial aspects of retirement. The Retirement […]
2018 Financial Resolutions
Happy New Year! As we welcome in 2018, we might want to set a couple of financial resolutions so that we have plenty of time to realize our goals. Typically, people have similar resolutions in mind. Common ones are increasing your 401(k), preparing a spending plan, reviewing the new tax rules, increasing your emergency fund, […]
Retirement Checklist
There are many, many decisions to be made as you move from the working phase of your life to the retirement phase. Retirement planning is a common discussion that we have with our clients – regardless of their age. This article talks about some retirement considerations that seem to be universally applicable. Retirement Date. You […]
The Three Phases of Retirement
Congratulations if you’ve already reached retirement! This can be a wonderful time in your life. But just like pre-retirement, there will be different phases in retirement. In this article, I’ll introduce you to what many people call the three phases of retirement. Phase One. For many of us, this is the first decade or so […]
Baby Boomers Retire
Are you a boomer? This generation was born between 1946 and 1964. They’re currently between 53 and 71 years old and they’re in various states of financial preparedness for retirement. Unfortunately, the AARP reports that 49% worry about financial matters followed by 42% worrying about health challenges. It’s easy to understand this concern when you […]
Financial Planning Resolutions
Well, we’re one month into 2017. If you haven’t made any financial resolutions yet, now is a great time to review your financial scorecard for last year and then look for ways to improve in 2017. Here are some financial goals you could take in to consideration this year. Calculate Your Net Worth If you […]