A new year often means a fresh start! Reevaluating your financial needs, budget, and savings is also often done now. Building a budget or adjusting the one you already have is one step, as is looking honestly at any debt. Another important step is making sure that your emergency savings are secure, and that your […]
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With 2022 just beginning, we thought we’d share with you some of the changes to Social Security. The Social Security Administration has issued a 5.9% cost-of-living adjustment (known as a “COLA”) for 2022, the largest COLA in nearly 40 years. How much of a difference this will make in your life really depends on your
The 2022 Cost of Living Adjustment Read More »
Over the past few weeks we’ve made posts regarding some of the things to think about when providing for your family’s future and protecting what you’ve worked for. As we enter the New Year, there are also strategies you can think about putting in place to pass on your legacy. Just as your life changes
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Take the first step to protect yourself. The pandemic has created a lot of unexpected events, has impacted the markets, and has caused each of us to adapt to the changes. Now is a good time to review how your needs may have changed and what you’ll need to adjust in the future. To get
Retirement Road Map Read More »
As we’ve talked about before, investment risk is a risk that everyone shares. Having a portfolio of products aligned with your risk tolerance and time horizon is important to protect against market risks. As you age, your time horizon and risk tolerance will most likely change. It is important to review the time horizon associated
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A recent article in the Wall Street Journal states “Last April, economists thought inflation would be around 2.5% right now. Instead, it’s over 6%. Even by the forgiving standards of economic forecasting, that’s a miss of epic proportions.” So, what’s the cause of this increase, and what does it mean? Some blame President Biden and
The Cause of Inflation Read More »
As a recent article indicates, Government data shows “nearly 70% of individuals who reach age 65 will need long-term care at some point.” Further, “while the median cost of an assisted living facility was $4,300 a month as of 2020, what most Seniors don’t realize is that Medicare doesn’t pay for most long-term care costs.”
What Does Medicare Cover? Read More »
A recent article tells us “People retiring in the next few decades should only count on withdrawing 3.3% of their savings a year, down from the well-established number of 4%” according to a recent report by Morningstar. Inc. The withdrawal rate refers to how much a retiree can “safely” withdraw from their savings each year
Preparing For a Reduction Read More »
Soon it will be time to file your 2021 taxes. But did you realize that the 2022 tax rules will “differ substantially from 2021”? Your tax brackets will be higher, and so will your standard deduction. There is still time to reduce your 2021 tax bill, but time is running out. Knowing the tax brackets
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When building the foundation for your retirement income strategy, it’s important to consider ways to ensure your money lasts as long as you need it. Speaking with us about the following six questions can be a good starting point: How much of your necessary expenses are covered by outside income sources such as Social Security
Developing a Retirement Income Strategy Read More »