As we approach year end we are frequently being asked about what we call “Lost 401k” accounts. Perhaps you changed jobs, or your employer went out of business or merged with another company, or maybe you’ve just put the memories of a workplace that you left years ago far, far behind you. And now, you […]
Typically, you put a lot of thought towards paying off loans for insurance, on, for example, your house and car. However, life insurance is just as important as other types, and should be thought of in the same way. Life insurance is often ignored, because we look at it simply as something costing us while
How Are You Looking at It? Read More »
We’ve written about several of the increases that are happening in 2023 and thereafter, and it is important to keep them all in mind as you plan for your retirement. Since hitting a 40-year high of 9.1% in June, inflation has cooled somewhat. If that trend continues, the Cost of Living Adjustment in Social Security
Even if you’re able to add up what you spend today, trying to determine what you will need when you retire is difficult because your spending is sure to change. While perhaps you won’t have a mortgage payment anymore, you may be asked to contribute to your grandchildren’s education, or perhaps you will want to
When is Enough Enough? Read More »
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
What Exactly Does That Mean? 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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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 »
This week’s article confirms an announcement recently made by the IRS. “You now have an extra month to lower your tax bill with contributions to your individual retirement account (IRA). Just like last year, the IRS has extended the 2020 tax filing deadline to May 17, allowing Americans an extra month to make IRA contributions
What’s the Right Strategy for You? Read More »
Happy New Year to you! Next week were are hosting a free educational webinar for pre-retirees and retirees on January 5th. It’s called “7 Keys to Enhancing Social Security Benefits.” If you have any members, clients, friends, or family who might be interested, feel free to pass it along. I’ve invited Waldean Wall from Allianz
I came across an article in the Harvard Business Review where the author discussed a concept we have touched on in the past – the idea that when you “ask someone what her pension is worth, she will reply with an income figure: “two-thirds of my final salary,” for example. Yet, if you ask someone
ASSETS VERSUS INCOME Read More »
James W. Malanowski LUTCF
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