When people retire, they often wonder what to do with the money in their 401(k) from their former employer. Be careful about withdrawing all the money at once just because you can. While there’s no tax penalty for withdrawing after age 59 ½, taking a large amount at once can impact your Medicare costs if you’re over 63. Read More
Life still happens in retirement and at some point you will need a newer car. When deciding whether to buy a new or used car, it’s essential to weigh the pros and cons of each. Let’s break down the key factors: Read More
Retirement is a significant life transition, not just financially but emotionally and relationally. While many couples eagerly plan their golden years together, one question often goes unasked: Are both partners ready to retire at the same time? Read More
As election seasons roll around, the political climate intensifies, bringing with it a wave of speculation and uncertainty. Many people find themselves wondering if the outcome of elections will impact their retirement plans. While it’s true that elections can influence various aspects of the economy and financial markets, the real issue often lies in the sentiment and security of the retiree. Here, we will explore three key areas where elections might affect your retirement and emphasize that proper planning is the best way to prepare for post-election changes. Read More
Having a purposeful mindset after retirement is crucial for personal fulfillment and promoting longevity and overall well-being. Retirement marks a significant transition from full-time work to a phase of greater freedom and leisure. However, this newfound freedom can sometimes lead to a lack of structure and purpose if not approached thoughtfully. Read More
When it comes to hiring a financial advisor, understanding how they get paid is crucial. The compensation structure not only influences their advice but can also affect your financial outcomes. However, one should not assume that any particular compensation method holds a moral high ground over another. Let’s explore the various ways financial advisors charge for their services and why none inherently stands as more ethical than the others. Read More
While some may see retirement investing as akin to gambling or a far-off dream, getting a handle on the basics early can pave the way for financial success down the road. Today, we’re going to talk about two buzzworthy topics in the investing world: Artificial Intelligence (AI) and Cryptocurrency (Crypto). Read More
In recent years, discussions about inflation have dominated headlines, kitchen tables, and policy debates alike. A key factor in these discussions is the role of minimum wage increases, often overlooked amidst broader economic narratives. As voters, we play a pivotal role in shaping the economic landscape, including decisions on minimum wage policies. This blog aims to shed light on how voting for higher minimum wages can influence inflation and, subsequently, the cost of everyday goods and services.
Inflation is the rate at which the general level of prices for goods and services is rising, eroding purchasing power. While it is influenced by a multitude of factors, one of the more direct factors is the cost of labor—specifically, the minimum wage. Read More
Investing in the stock market is like a long adventure where you can earn money over time. But not everyone makes the same return on their money with their investments. Even if the whole market is doing really well, you might find your own money growing a bit slower. Here’s why your own investment return might be different from the big market return:
This time of the year Americans are preparing to file their taxes. Although many will argue, you have to pay taxes in some way, shape, or form. It is not only necessary to fund the infrastructure around us but it’s also against the law to not pay. Read More
