Ninety percent of Americans are counting on Social Security to fund their retirements. A recent study conducted by the National Institute on Retirement Security disclosed that only ten percent of Americans have saved enough money to allow them to retire to the life they want. Unfortunately, the average American family’s retirement asset is an unbelievably […]
Many times people leave a job and leave their old 401k behind. This could be a huge mistake! What happens to the money you have saved in your employee retirement plan?
Where are all your important documents? Now is the time to organize and centralize your documents,and make sure your plans are in order!
Each decade of our lives is a milestone; and each milestone brings new perspective, a different focus, and varying needs. We trade our tricycles for bicycles; our bicycles for sports cars; our sports cars for minivans; our minivans for SUVs; and our SUVs for sensible four-door full-size sedans.
Just as our modes of transportation change through the years, so do our financial needs and focus.
All too often, family wealth fails to last. One generation builds a business – or even a fortune – and it is lost in ensuing decades. Why does it happen, again and again? It is because families fall prey to serious money blunders – old and new. Classic mistakes are made, and changing times aren’t […]
Much has been written about the classic financial mistakes that plague start-ups, family businesses, corporations and charities. Aside from these blunders, there are also some classic financial missteps that plague retirees. Calling them “mistakes” may be a bit harsh, as not all of them represent errors in judgment. Yet whether they result from ignorance or […]
REVERSE MORTGAGES RECONSIDERED Often criticized, these loans are getting another look. Is a reverse mortgage worth it? Before this last recession, couples who asked their retirement advisors if they should get a reverse mortgage were often given a quick answer: “No.” Today, the answer to that question might be “yes”. In an environment with minimal […]
WHAT TO BRING TO A MEETING WITH A FINANCIAL ADVISOR Crucial questions & essential documents. The financial planning process is not merely a matter of numbers. When you meet with a financial advisor to map out a strategy for wealth accumulation or wealth preservation, you may find yourself intellectually and emotionally engaged on a level […]
FINANCIAL QUESTIONS FOR THE RETIRING HOMEOWNER Six questions to contemplate before the transition. Do you see yourself retiring in the near future? In planning for that transition, you might want to consider the state of your mortgage, the state of your property taxes, and the state of your living quarters. 1. Could you pay off […]
Challenges for singles who are retiring Most retirement planning literature portrays a retirement transition in the context of a couple or a family – but what about those who retire alone? What particular challenges do they face, and how must their preparation for retirement differ? Retiring alone presents unique challenges. Singles who retire may lack […]