If you’ve saved a substantial amount in a tax-deferred retirement account, it will no doubt be instrumental in retirement. The next step is to strategize how you’ll use those savings. There are several important things to know about your 401(k), such as how much you can contribute, options for your 401(k) when you leave your […]
Do you plan on taking a vacation this summer? After forgoing travel for over a year, many people are planning trips this summer. If you do, there are many ways you can optimize your experience by using your phone. Your phone can be pretty much whatever you want it to be on vacation – a […]
The Consumer-Price Index (CPI) rose to 4.2% in April as compared to last year.[1] We could see higher prices when it comes to travel, food, cars, and other common goods and services. High inflation can hurt retirees who are living off their savings, especially when we have near-zero interest rates. We already see bigger Social […]
In retirement, you may have to transition from saving to spending. I believe You’ve worked hard to amass wealth, and now you must protect it from market downturns and make it last for the rest of your life. We have seen record highs in the stock market recently,[1] but the state of the market at […]
In 1960, a gallon of milk cost 36 cents, and today it costs $3.35 on average.[1] Inflation is to blame, and we could see higher inflation in the coming years. It’s important to have a sense of how much you’ll need to spend in retirement, but this is difficult when future costs and tax rates […]
While $1 million is sometimes cited as the ideal number for retirement savings,[1] this assumes a one-size-fits-all approach to retirement planning. Everyone’s retirement goals are unique, and preparing for retirement might not be as simple as saving a certain amount at all. We believe it’s worth taking a more in-depth look at your finances and […]
We’ve seen increased government spending due to COVID and significant increases in government debt. Some economists theorize that this could lead to increased inflation, and many claim that we are already seeing the effects. Although the official inflation rate may remain low for now, you may notice price increases of everyday items and services. If […]
The Biden administration already plans to spend $1.9 trillion on COVID relief and has plans to spend trillions more on infrastructure projects, Medicaid expansion, education, and climate investments. In order to fund these projects, the administration has proposed several tax-increasing measures on corporations and individuals. You may think you won’t have to worry as much […]
If you spring clean your house, why not take some time to spring clean your finances too? If you have a 401(k), IRA, or other retirement account, this is especially important. Managing this area of your finances isn’t a ‘set it and forget it’ activity. Here’s how you can see if you need to take […]
The rule of thumb says you’ll need about 80% of your pre-retirement income in retirement, but everyone is different. Many retirees want to upgrade their lifestyle in retirement or maintain their current lifestyle. In fact, a recent study shows that about one in three retirees actually spent more than they expected they would when they […]
