The Federal Reserve is currently developing a new instant payment system called FedNow. This service aims to enable banks and financial institutions to offer real-time payments to their customers, allowing for the instant transfer of funds 24/7. FedNow could have a significant impact on how individuals manage their money, as it will make it easier and faster to send and receive payments, pay bills, and transfer funds between accounts. Read More
Environmental, Social, and Governance (ESG) investing has seen an unprecedented surge in recent years. While ESG factors should lead to more sustainable and responsible investments, there are concerns that the government push for ESG is distorting markets and negatively impacting retirees and their portfolios. In this blog post, we will discuss how government involvement in ESG investments create unintended consequences, and what retirees can do to protect their portfolios from volatility and maintain a reliable income stream. Read More
As an investor, you want to protect your assets and ensure that your money is secure. Two organizations that provide this type of protection are the Federal Deposit Insurance Corporation (FDIC) and the Securities Investor Protection Corporation (SIPC). While both FDIC and SIPC protect investors, they do so in different ways, and it’s important to understand how each works to make informed decisions about where to keep your money. Read More
Social Security is a vital retirement benefit that provides financial support to seniors who have contributed to the workforce for many years. While many people choose to claim their Social Security benefits as soon as they are eligible, this decision can have negative consequences. In this blog, we will explore four problems associated with claiming Social Security early and why waiting until full retirement age may be a better choice. Read More
Retirement is a significant milestone in everyone’s life. It’s the time when you finally get to reap the fruits of your labor, relax, and enjoy the rest of your life. Unfortunately, there are many myths that people believe about retirement before they retire, which can lead to unrealistic expectations and financial troubles down the line. In this post, we’ll discuss these common myths about retirement so that you can be better prepared for your new journey. Read More
Have you ever heard someone say that they know exactly where the stock market is going in the future? It might sound tempting to believe, but the truth is that no one can accurately predict the future of the stock market. Read More
Using art as a retirement plan might seem like a good idea, but there are some major drawbacks that you should be aware of before making this decision. Read More
Are you ready for a 40 year retirement? Read More
A new report by Syracuse University’s Transactional Records Access Clearinghouse (TRAC), a nonprofit data and research gathering organization, found that the IRS may target low income earners more often than high income earners for an audit. Indeed, during FY 2022, the odds a millionaire was audited by an IRS revenue agent was just 1.1 percent while low-income families have a 1.27% audit rate.
The IRS may target low-income earners more often than high income earners for an audit for several reasons. Read More
The Secure Act 2.0 was signed into law on December 29, 2022 bringing some major changes when it comes to retirement planning. Among the most notable is a change to Required Minimum Distributions (RMD). The new law builds on earlier legislation that allows retirees to delay required minimum distributions (RMDs) until a later age. This can be a significant benefit for retirees who don’t need the income from their retirement accounts and want to keep their savings invested for as long as possible. Read More
