Help Boost Your Income with These 3 Strategies
Do you feel like you have enough saved for retirement? Do you have anything saved for retirement? If your answer to either of these questions is no, then our advisors may have some strategies to help you turn your retirement income strategy around. Here are some things that our advisors recommend when it comes to boosting your retirement savings: Assess Your Financial Situation Honestly This isn’t as easy as it sounds. When you were a […]
Understanding the Four Phases of Your Retirement Budget Strategy
One way of thinking about retirement is that it happens in phases. The length of each phase and the strategies for each are going to differ from person to person, but this can be a helpful way to break down a very complex topic. We’re going to break down each one of the phases and explain some important financial moments in each. Phase 1: Pre-retirement (Approximately Ages 50-62) This is around the age when you […]
Reexamining the Retirement Investment Portfolio
When talking about retirement financial planning, we often take investment strategy at face value. But what does an investment strategy really consist of? An investment strategy is utilized to help your wealth not only retain its value against inflation but hopefully grow as well. When it comes to retirement, there’s another aspect of income generation that is introduced. But no matter if you’re considering wealth growth or income generation, your investment decisions will involve calculations […]
Should I Convert My 401(k) To A Roth IRA?
Let’s say you’ve just changed jobs. What are you going to do with your 401(k)? You may be able to convert your 401(k) to a Roth IRA, but is that a good option for you? In this article, we’ll talk about what happens when you make this conversion and give you some examples of different financial situations for when this could be the right move for you. Making the Calculation One of the most important […]
Understanding Your Savings Goal – How Much Do You Really Need to Retire?
“How much do I need to retire?” This is one of the most frequently asked questions in the world of retirement finance. If you don’t have a lot of retirement planning experience, it can also be a tough question to answer. This article will hopefully give you some sense of where you might want to be headed in terms of answering this question and also get you up to speed on the classic retirement savings […]
Defined-Benefit vs. Defined-Contribution Plans
The following two types of retirement savings methods may sound similar, but there are a lot of important differences that might be useful for you to know if you’re looking to get a better understanding of what retirement might look like for you. Defined-Benefit Let’s start with a defined-benefit plan. These types of plans commonly come in the form of pension plans.[1] A pension plan guarantees a certain level of retirement benefit based on your […]
