Retirement Planning

When Is It Time to Cut Your Kids Off From Your Finances?

Deciding when to let your children stand on their own can be tough, especially when they’re contending with student loans, underpaying jobs, or sky-high rents. But easing your kid’s entry into adulthood could be undermining your own financial security.

According to a December survey from CreditCards.com, three-quarters of parents are providing financial support for their adult kids.

But at a time when the majority of Americans haven’t socked away nearly enough for retirement—the median retirement savings for all working families in the US is just $5,000, according to the Economic Policy Institute—it makes sense to do a little less for our offspring, so we can think a little more about ourselves.

So, how do you figure out when and how to cut your kids off financially?  Learn more below. 

Social Security’s Full Retirement Age Will Rise in 2018

The arrival of 2018 will bring with it several changes on the Social Security front.  

This slow increase in the full retirement age presents a challenge now that Americans are living longer and saving less.  If Social Security is important in your life — or the life of someone you love — you should know about some key changes that will be made to the program coming in 2018.

9 Ways to Build Wealth in Your 50s

Midlife is filled with challenges and opportunities. Yes, you might be in the thick of paying for college, but soon all those other costs that come with kids should be behind you—or so you hope. You're also likely in your peak earning years and when you're making the most is also when you should squirrel away the most.

Some 40% of successful savers—those who built nest eggs equivalent to 10 times pay—did so by saving 15% or more of their incomes for at least 10 years.  Here's how...

4 Post-Work Life Tips

How to have a long and healthy retirement:

It’s a time when we’re supposed to find happiness, but post-work life is often associated with severe health problems. Below are some tips to help you live long and prosper.  

Test Your Retirement IQ

What's the biggest threat to a comfortable retirement? Ignorance. The decisions you make leading up to retirement, including how much to save, how to allocate your investments, when to take Social Security and how to anticipate your retirement expenses can make a big difference in your old age. 

And the decisions don't stop on Day One of your post-career life. Once you're in retirement, you'll need smart strategies for taking withdrawals and investing your resources so they last as long as you do.

o how well-versed are you on this critical subject? Take this quiz to find out.  Click link below. 

How much money you need to save each day to become a millionaire by age 65

Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan.

If you want to get rich, start investing- and start as early as you possibly can.  

To illustrate the simplicity of building wealth over time, Bach created a chart detailing how much money you need to set aside each day, month, or year in order to have $1 million saved by the time you're 65.   

Next time you consider running to Starbucks for a $4 latte, think about this chart and consider redirecting that coffee cash to your savings.  Check it out. 

The Big Lesson From 2016 for Your Retirement Planning

Here's what you should take away from the year that included Brexit and Trump's election.

When it comes to takeaways that can improve your retirement planning and investing, I think there’s one big lesson we should all draw from 2016.

When Will I Be Retirement Ready?

How do we know when we have enough for retirement?  Given it’s National Save for Retirement Week, there’s no better time than now to take the mystery out of saving for retirement.    

The objective is that when you arrive at the golden years and find that they are truly golden-  It's called FINANCIAL FREEDOM.                                                                              

And it's easier to get there with a little planning-  even in your 20s- Because it's closer than you think!


Click the link below to learn when you will be "Retirement Ready."

Is It Time To Make Changes to Your Investment Portfolio?

The stock market has taken us for an emotional ride during the past couple of months, and you may be asking yourself if you should make changes to your investment portfolio.  While changing strategies can be a good idea, it’s better to base those decisions on analysis and in the context of your long-term investment plan rather than on emotion.  Before changing your investments, consider whether or not your response is an overreaction to the news. It is always good to review your portfolio on a quarterly or annual basis to make sure you are on track to reach your goals.  

Click the link below for the questions you should ask yourself when thinking about making changes to your investments.  

How to keep this crazy stock market from driving you nuts!

How do I stop the market from making me crazy?

The current market is a reminder that days sometimes feel long, while years pass quickly. Don’t confuse that feeling and make long-term moves based on what’s happening on any given day. That’s how years pass and you wind up short of your goals, when the odds were in your favor that staying the course would have paid off.

Read more by clicking on link below. 

Here’s Why You Should Start Investing Now

Investing is the most important element of our financial future.  Tony Robbins and Clark Howard recommend that people who have yet to invest in the stock market should ‘get in the game.’  Experts believe the financial market is still ‘winnable’. We agree.  Don’t wait to invest. Get started with whatever you have.  

You can put off some small things in life without consequence, but when it comes to investing, sticking your head in the sand simply won’t cut it. If you don't know how to start investing, when to start investing or why you should invest, now's the time to learn. The sooner you get started, the more time and interest can help grow your money.  

To learn more click the link below.  

How to Tell If You Are Ready to Retire

Most people's finances would be improved by another year spent in the workforce, but you also don't want to work for so long that you don't have time to enjoy the things you want to do in retirement. Here's how to tell if you are ready to leave the working world behind.

 

10 Reasons You'll Never Be Rich

No matter how much you earn you could be creating your own barriers to financial success without even knowing it. Here are 10 things you might be doing that are preventing you from acheieving financial freedom.   

Survey Finds Smart Financial Habits Make You Sexier!

 

In a recent survey about relationships and finances, MONEY found that both baby boomers and millennials agree on the three most attractive traits in a potential mate: a sense of humor, compassion, and—yes—financial responsibility. For both groups, those qualities all rank higher than physical chemistry, diligence, and even intellect.

Click below to find MONEY's survey results on the most attractive traits.  

How To Get The Most Out Of Your Social Security Benefits

When to start taking Social Security benefits is one of the most critical factors influencing your financial security in retirement.  Sadly, studies show that most Americans are clueless about Social Security Benefits.  When and how to file for social security benefits is an important decision. With the right planning, and possibly deferral of your benefits, you can be guaranteed a return of 8% per year. Yes, 8% per year!  *

The Supreme Court Just Made A Ruling that Could Boost Your 401(k)

On Monday, The Supreme Court of the United States ruled that workers can sue their employers over high fees in their 401(k) plan offerings.   

Should I pay off my debt or start investing?

Should I pay off my debt or start investing? This question, perhaps more than any other, has plagued investors for generations. Ironically, it is one that can be easily decided by using a bit of simple math.

Read more below:

If You Want to Retire in 10 Years- Do These 5 Things

The actions you take in the final decade before you quit working are crucial to getting the next phase off to a smooth start.  

We provide retirement planning counsel to many clients. Considering retirement is exciting, but it can also cause anxiety and fear. That's why we encourage our clients to begin planning for retirement with a comprehensive financial plan.  Seeing your personalized financial plan takes away much of the anxiety before your retirement date arrives.  

Money Magazine offers this advice if you plan to retire in the next 10 years:

Warren Buffett and Bill Gates Agree - This Factor Was Most Important for their Success

Warren Buffett, Steve Jobs, and Bill Gates have all attributed their success to one factor. In fact, this one trait is behind the success of all people that have performed massively better than the average person. Read on to find out what the trait is and how you can put it into practice in your own life and investing.

Our First Quarter Newsletter- Financial Insights & Outlook

Check out the latest edition of our newsletter.  Included in this issue:

- Retirement account distribution strategies

- Tips for a successful retirement

-  How to manage excess cash