Perhaps there is more truth to this saying than we want to admit. This year has been tumultuous, with markets declining and interest rates increasing. Were we all soothsayers we would be rich beyond our dreams. But we aren’t and it is disingenuous to think about the money we ‘could have made’ when interest rates increase, and to forget what [...]

We’ve spoken in the past about the benefits of saving money for retirement by having automatic transfers from your checking account into a savings account, but what is often forgotten is that workplace retirement account when you leave one job and move on to another. If you leave a job, consider rolling that money from the former employer’s plan into [...]

I read an article the other day that suggested one way to save money consistently is to arrange automatic transfers from your checking to your savings account on payday. That idea can be applied to RMDs as we get older. While we may be forced to take required minimum distributions out of qualified accounts, there are no restrictions on how [...]

Sometimes it is best to start with the basics. If you are planning for retirement, are you contributing enough to your 401(k) to get your company’s full employee match? Think of it as free money. Have you paid off high-interest rate debt you may be carrying? Eliminating a monthly credit card or auto loan with a high interest payment may [...]

I read an article the other day that referred to the five years before and after retirement as among the most important and vulnerable for a retiree’s savings. The reasoning is that as you approach retirement there are far fewer years left to correct any misstep, and the consequence of a misstep can involve your quality of life in retirement [...]

In the past we have noted that in planning your retirement finances you need to factor in health care costs, and the need to anticipate increases. Not doing that may cause a depletion of your retirement savings that you did not anticipate. There has been some discussion about the Affordable Care Act and the indication that for the first time [...]

We frequently receive inquiries regarding who should be the beneficiaries of the financial products we sell, and if the division among multiple beneficiaries should be equal. This brings up an interesting point. When making this decision people sometimes place descriptions on offspring that relate to their ‘current’ needs or proclivities. What we sometimes forget to think about is that time [...]

I read an article recently which discussed the gap between what people think they spend and what they actually spend.  It referenced that this gap has widened recently as the financial and psychological effects of higher prices negatively impact on people’s budgets.  This gap should be factored in when you think about how much income you are projecting as being [...]

We often think of insurance as relating to ‘things’ but not ourselves. When you own property – such as a home or a car or a boat - experience has taught us to make sure we have not only liability coverage but enough money that if we have a loan on the property it is paid off, and, perhaps we [...]

Have you ever reflected on the fact that frequently, the final years of your full-time career often coincide with your peak income. However, as your earnings increase, so can your expenses and if you’re not saving at the same rate, it could be difficult to sustain your lifestyle in retirement.  The reason is because many individuals who are pre-retirement assume [...]