Every financial client has their own story about what has happened in their life and what they hope to accomplish in the future. Life events can alter even the most carefully thought out plan. Some events clients experience are divorce, loss of a job, health issues, death of a...
As more boomers leave the workforce each day the future is uncertain for both genders when it comes to their retirement savings lasting their entire life. Many don’t know what to expect when it comes to rising health care costs, increasing living costs, and longer life expectancies. However, for...
Inheriting from someone is a wonderful gift, but when it comes to securities assets, namely IRAs, different rules apply to non-spouse beneficiaries. IRS rules designate what the beneficiary can do with the IRA and how distributions must be taken. The laws on inherited IRAs depend on the relationship to...
Losing a spouse, whether through death or divorce, can be devastating emotionally and financially. The loss can take months or even years to recover since there is no way to prepare for death or divorce even when spouses have discussed contingencies with each other or with their advisor. When...
The ‘Boomer Generation,’ those born between 1946 and 1964, have a great outlook for a long life since they will outlive previous generations by almost 40%, compared to their great-grandparent’s generation. However, this generation faces circumstances that many of them didn’t plan for: Not saving enough to offset the disappearance...
“Financial literacy refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding of finances. Education on the management of personal finances is an essential part of the planning and paying for post-secondary education.”- Webster’s Dictionary. Financial Literacy includes having a basic understanding of how to...
Insurance is not always an exciting topic to talk about, but financial planners are well aware of the risks their clients can face when they are underinsured. Whether it is homeowners insurance or life insurance, the different types of risks people face can easily wipe out a portfolio or...
It is human nature to seek advice only when things aren’t going as planned or when some unforeseen situation arises. Take one’s health for example- some people routinely have an annual exam, while others seek medical advice only when they suspect a health problem and the symptoms have become...
The good news is we are living longer, but the bad news is that having regular employment, good health and the premature depletion of retirement assets is becoming a reality for many Americans. Despite plans for retiring later (compared to previous generations) at age 69 or into the 70’s,...
In today’s economy, offers of an early retirement buyout for a current employee or a pension buyout directed at a former employee are becoming common as companies look for ways to cut costs. Many large employers are offering employees who are not yet at retirement age the option to take...