For many Americans nearing retirement, inflation has become more than a topic in the news. It is an ongoing financial challenge that can gradually erode the value of retirement savings. Many fail to realize how significantly inflation can affect their finances during retirement. Especially a retirement that, remember, thanks to longer life expectancy, may last […]
While estate planning typically focuses on the how–including tax strategies often involving trusts and wills–to whom can be just as complicated. We strive to help make it easier by laying out options you may have to convert some of your current assets into other financial products that will not only provide your legacy with the
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Growing older brings wisdom, experience, and new opportunities, but it can also present challenges, which are frequently mitigated by family support. Many elderly people rely on their spouses, children, or close relatives for help with daily tasks, financial decisions, and emotional support. However, an increasing number of seniors in this country do not have access
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Bank scams are on the rise. There are five common tricks of fraudsters. Did you get a call, email or message saying there is an issue with your account and you need to move money to resolve it? Are you being pressured to act fast or keep it secret? Did someone ask you to deposit
When one spouse passes away, the surviving spouse’s social security benefit may change significantly, and many retirees are unaware that they generally do not continue receiving both monthly checks. In most cases, the surviving spouse receives the higher of the two benefits, while the smaller benefit stops, which will still create an unexpected reduction in
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Sometimes as we are in the midst of our retirement years, we need to have a serious heart-to-heart with our adult children. That conversation can often begin by explaining that not every decision you make will look the way they would personally choose to handle things, but that does not mean it is uninformed or
How much monthly retirement income is enough in 2026? Many Americans wonder if they are saving enough to live comfortably once they retire. According to a recent Pew Research Center* survey, 40% of adults are concerned that they will run out of money in retirement. However, what constitutes “enough” retirement income varies greatly depending on
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The last thing you need to worry about when you retire is losing your sense of purpose. Staying mentally and socially engaged matters more than most people expect. Health tends to outweigh wealth, so maintaining routines that support physical and cognitive well-being becomes critical. Many retirees underestimate how important structure is even when they no
Staggered retirements are more common than you might think, especially when couples are different ages. A two-phase retirement can affect both you when it comes to your savings and spending needs. It’s important to think ahead about how you’ll both plan for and handle these impacts. There are differing and varied options that may fit
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If you are mulling over in your mind your list of tangible assets, savings accounts, and creating your will, you may be trying to determine that trifecta question of how to be able to keep what you have in your name, have access to income, but still leave something as a legacy to your heirs.