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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 […]
The Importance of 403(b) Plans for CSU Faculty
Most CSU employees enroll in a Defined Contribution Plan (DCP) rather than in Social Security. If you’d like to learn more about a DCP, please see our previous blog called Retirement Planning for CSU Employees. Just like people who are enrolled in Social Security, DCP enrollees will probably not be able to afford the retirement […]
Self-Employed Retirement Plans
A 2015 TD Ameritrade survey found that 28% of self-employed people do not currently save for retirement and that an additional 40% save what they can afford whenever they can afford it. There are a number of understandable reasons why 68% of self-employed people do not have a regular retirement savings plan, but here are […]
Is a Backdoor Roth IRA Right for You?
First of all, what is a Backdoor Roth IRA? It’s merely a way to contribute to a Roth IRA when your income exceeds the contribution limit of $183,000 (for a couple filing jointly). The Backdoor Roth IRA procedure removes this restriction. It involves a simple two-step process. First you contribute up to $5,500 to a […]
Changes to Social Security Claiming Options
On November 2, President Obama signed a two-year budget deal that was approved by congress on a bipartisan basis. It eliminates the possibility of a government shutdown, keeps the Social Security disability fund solvent and reduces premium hikes for Medicare Part B beneficiaries. These features caused it to earn the support of AARP and the […]