Financial Challenges When One Spouse Retires First

In an ideal world, couples plan for and start their retirement at the same time, stepping away from a long-tenured career and excitedly starting the next chapter of their life together. Realistically though it might be hard for spouses to “pull the retirement trigger” at the same exact time, and when one spouse retires before another it can create tricky financial and[...] Continue reading

A Primer on Spousal IRAs

Whether you’re a stay-at-home parent or taking some time off work, saving for retirement shouldn’t go by the wayside. In many cases, individuals aren’t aware they’re able to save for retirement when they don’t have earned income. Contributing to an IRA or Roth IRA is a viable option, and a good way to keep that nest egg growing. For those who may not be familiar[...] Continue reading

Empty-Nesters: Reprioritize Your Finances for Retirement

With back-to-school season in full swing, and kids settled on their own at college, parents can take time to focus on their own financial picture. Why is this an important time for couples to drill down on their financial plans? Today, people are delaying having children so there’s often an intersection with the final years of saving for retirement as kids head off to[...] Continue reading

Happy 70.5 Birthday, baby boomers!

The first wave of baby boomers started turning 70.5 in July 2016, and over the next 18 years roughly 10,000 boomers per day will hit this milestone. But why is this age an important one for retirees? Once you reach age 70.5, you have to begin taking the required minimum distribution (RMD) annually from your Individual Retirement Account (IRA). It’s important to consult[...] Continue reading

A Successful Family Meeting… With Your Financial Advisor

A study by T. Rowe Price shows that only 44 percent of parents discuss money with their kids. The reluctance to discuss teachable financial moments early on creates a significant disservice to adults later in life, when they are making their own critical financial decisions. Getting the conversation started and including your children in meetings with your financial[...] Continue reading