CategoriesLife Insurance, Retirement Income, Risk by

Life Insurance Is an Investment!

What’s the best way to invest in your future?

Life insurance is an investment…in more ways than one.

 

For all its benefits, only 54% of Americans have some form of life insurance, which means there’s a pretty good chance that you’re one of the millions of adults without this vital form of coverage.

Perhaps you think you can’t afford it. Or you’re overwhelmed by all the options in the marketplace. Maybe you simply don’t like thinking about your own mortality.

However, I think more people should review life insurance as part of their overall retirement and family planning. Read More

Why & How to Retire Early
CategoriesArticles/Publications, Retirement, Retirement Income by

Why and How to Retire Early

Are you faced with (or hoping for) an early retirement?

Then you’ll want to do your homework to learn how to retire early without hurting your finances.

According to a study from the Employee Benefit Research Institute, nearly 50% of workers plan on retiring after the age of 65 to collect maximum social security benefits. However, only 19% end up staying that long.

Most of the time, early retirement can be attributed to unexpected events such as poor health, economic downturn, loss of employment, or family issues. However, with the right planning and budgeting, you can retire early on your own terms. Read More

Traditional vs. Roth IRA
CategoriesFinancial Planning, Income Tax Planning, Retirement, Retirement Income, Roth IRA, Traditional IRA by

Traditional vs. Roth IRA: The Pros, Cons, and Everything in Between

Read on to learn the advantages and disadvantages of traditional vs. Roth IRA to make the right decision for your retirement.

 

Planning for one’s retirement is one of the best ways to make sure that you’ll have the means to support yourself and your family when you no longer have a paycheck. And the earlier you start planning, the more prepared you’re going to be.

One of the most important things to know about retirement planning is the difference between traditional vs Roth IRAs. By choosing the right kind of IRA, you could potentially end up saving yourself thousands of dollars.

If you’re interested in learning more about IRAs, then continue reading and we’ll take you through everything you’ll want to know! Read More

CategoriesFinancial Planning, Retirement, Retirement Income, Using A 401(k) by

What Is a 403b and Is It the Right Option For You?

A 401k retirement plan has been a standard part of employee benefits packages since the late 1970s. This type of retirement plan involves withholding contributions from each worker’s paycheck and holding those monies tax-deferred in an investment account until that worker retires. 

Nonprofit, tax-exempt organizations were not able to offer 401k plans to their workers until 1996. Before that year, the only employer-sponsored option for nonprofits and their employees was known as a 403b plan.

The 403b plan is still an option for nonprofit workers and exists alongside traditional 401k offerings. But what is a 403b, exactly, and is it a good investment? Read on to find out.

Read More

CategoriesFinancial Planning, Income Planning, Retirement, Retirement Income, Roth IRA by

What Is a Roth IRA? Everything You Need to Know

Apparently, most Americans are not prepared for retirement. While these people may not be terribly concerned about their future at this point in their lives, many are in for a rude awakening when their income suddenly drops dramatically. 

By having an individual retirement account (IRA), you can diversify your portfolio and prepare your finances for your future. You might not know this, but there are actually two different kinds of IRAs: the traditional IRA and the Roth IRA. 

Read More

CategoriesFinancial Planning, Financial QB TV Videos, Retirement Income by

Retirement Planning: Why There’s No Such Thing as a One-Size-Fits-All Retirement

If your household earns over $30,000 per year, you are going to  need more than social security to keep up your lifestyle in retirement. This is why many financial advisors recommend saving enough to replace 80% or more of your pre-retirement income.

When it comes to retirement planning, most people think a one-size investment strategy fits all. Here are three reasons why retirement planning does—and should—work differently for different people. Read More

CategoriesFinancial QB TV Videos, Home Featured, Retirement, Social Security by

Should I Take My Social Security Early Because of COVID-19?

During these tumultuous times of COVID-19, many older workers are uncertain about their financial future. 

Due to rising unemployment, volatile markets, and just the overall fear of COVID, questions about Social Security have come up frequently. Older workers, at least 62 years old, are beginning to consider claiming their Social Security early. In this blog post, we’ll cover the best retirement age (based on your financial goals), whether or not your social security benefits should be accessed early, and what a normal retirement looks like.  Read More