It’s increasingly common that workers move jobs throughout their career, and with pensions largely a thing of the past, the incentive to stay employed at one company has dwindled. A survey from the Bureau of Labor Statistics found that people hold an average of 12 jobs between the ages of 18 and…
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Category: Retirement Planning
Having a higher salary doesn’t make you ready for retirement
You may think of high earners as people who can afford nice homes, expensive clothes and shiny cars. You may think they don’t have to worry about money, but that’s not the case. A recent study reveals that many high earners may be worrying about money come retirement. According to…
Small business owners: Plan for employees retirement and your own
There are 30.2 million small businesses in the U.S. comprising 99.9 percent of businesses in the country according to the SBA. However, data shows that small businesses don’t have retirement plans for their employees, and owners don’t have a retirement plan for themselves outside of selling the business. Of note,…
Saving for retirement isn’t your emergency fund
Saving for retirement early on in your career is something we stress to clients, friends, family and anyone who will listen. Getting on track for your financial future is really key and using the power of compounding can greatly improve your financial status in your post-working years. But, it’s important…
It’s National Retirement Security Week: Are you on track?
When planning for retirement, most people just want to know: Am I going to be OK? Feeling financially secure in retirement is of the utmost importance for those nearing their golden years. This week is National Retirement Security Week, which allows us to focus on retirement preparedness, how pre-retirees can…
Making moves: Financial considerations for retirement relocation
Retirement is a time full of new choices and exciting change. One of the biggest changes we often see individuals and couples make is opting to move across state lines, or even abroad, where they can start fresh and enjoy their golden years in a new location. However, as with…
Tackling debt before and during retirement
When anticipating retirement, advanced planning is the common thread that binds your financial future together. Therefore, managing debt during retirement is easier when you have a plan. Approximately 10 years before retirement, reassess your financial position and create a feasible plan to pay down consumer debt -- that includes credit…
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…
Overlooked financial scenarios in retirement
When it comes to retirement, there is often a large emphasis placed on the savings strategies and tactics leading up to one’s golden years. But, once someone is in retirement, there are a handful of financial scenarios that could impact these funds. Below, we outline considerations to keep in mind,…
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…