retirement savings

How do You Compare?

Curious about how you compare to others? The “How America Saves 2022” report referenced recently by CNBC might give you that information.  The report states the average retirement savings account balances by age: For those within the 55 to 64 age bracket, the average savings account balance is $256,200. For those age 65 and older,…

Recession

What exactly does that mean?

There has been a lot of talk recently about a recession: whether or not one will come, what it would mean, and how it would affect each of us. A recession is defined by the National Bureau of Economic Research as “a significant decline in economic activity that is spread across the economy and that…

Social security retirement benefits

How Much Can You Earn and Still Get Your SS Benefits?

Let’s start by explaining that when you begin receiving Social Security retirement benefits, you are considered officially “retired” by the Social Security Administration (SSA). You can receive Social Security checks and still work at the same time. However, since you are now “retired” there is a limit to how much you can earn and still…

Roth IRA

Converting your IRA

With the downturn in the market these past few months, there is increasing talk about the pros and cons of converting an existing diminished IRA account into a Roth IRA.  Both types of IRAs are designed to help you save for retirement while providing a tax advantage, but they do so in different ways. We…

challenges of retirement

The Biggest Challenges of Retirement

We often think of retirement in terms of ‘having enough money.’ However, there are other considerations. This article dives into these other considerations and divides them into three categories: Regret, Health, and Identity. Interestingly, the author tells us that financial worries weren’t among the top three considerations. Over 15,000 retirees, age 60+ were surveyed. What…

de-risking

De-Risking

“De-Risking.” This is a phrase you may hear more frequently as the market dips lower and lower.  It is a term often used when discussing how those who are near retirement can prepare when they know their future years of employment and wages are coming to an end, and their savings have dwindled dramatically due…

how does the stock market work

How Does the Stock Market Work?

You may be wondering: “How does the stock market work?” Furthermore, “What are the potential dangers of investing in stocks?” If you are worried about these things, you aren’t alone. Many people with limited financial experience are terrified of the possibility of losing their money to the stock market. Either that, or they’re unaware of…

Review the basics

Refresher

We try to educate our clients on annuities. Sometimes, it’s a good idea to review the basics. Click here to visit our annuities page. We’ve outlined information such as the different types of annuities, the nature of the underlying investment, the primary purpose of an annuity, the nature of the payout commitment, the tax status…

Pension

Adjustments

While inflation has certainly been in the news a lot lately, one topic that hasn’t been discussed all that often is private pensions. Unlike Social Security payments, they typically don’t offer cost-of-living adjustments that keep up with inflation rates. State and local government pensions do typically offer cost of living increases, but this sometimes causes…

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