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factor in healthcare costs

Factor in Healthcare Costs 

In the past, we have noted that when planning your retirement finances you need to factor in healthcare costs. Not doing that may cause a depletion of your retirement savings that you did not anticipate.

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Fair meaning equal

“Fair” Meaning “Equal”

We frequently receive inquiries regarding who the beneficiaries should be for the financial products we recommend. And, if the division among multiple beneficiaries should be equal. This brings up an interesting point.  When making this

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gap

Do You Have a Gap?

There may be a gap between how much you spend and how much you think you spend. This gap should be factored in when trying to determine how much you’ll need in retirement: Probably more

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How Are You Looking at It?

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

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What won’t work

Will Your Strategy Work?

Heading into retirement, It is essential to understand your options, and what will work best for you. It is similarly important, however, to understand what won’t work. Are you aware of every factor you need

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Savings

Extend Savings While Balancing Risk

Retirement means more than a change in your employment status. It’s the point where the use of your savings changes. During retirement, a retiree’s focus turns from accumulating savings, to how they’re going to live

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Priorities

Priorities 

The importance of saving up enough for retirement cannot be emphasized enough. Seniors who retire mostly or solely on social security often end up strapped for cash. So, it’s essential to have additional income sources

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Increases

Increases

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

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Retires

When Only One Spouse Retires 

Clients are coming to us more and more frequently with questions regarding this retirement situation: Let’s say one of a couple retires, and the other continues to work. This often presents a need for rebalancing

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income

The Appeal of Safety

We thought to share with you our thoughts about the growing number of people who are looking to purchase a financial product that incorporates a guarantee on some or all of their retirement income. In

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RMDs

Common Confusion

There still seems to be confusion among retirees about the changes in the law affecting required minimum distributions, or RMDs.  Beginning a few weeks ago, on January 1, 2023, the starting age for RMDs rose

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Keep saving

Remember to Keep Saving

This article reminds you to stick to your goals and keep saving. “If you are already saving, whether for retirement or another goal, keep going! You know that saving is a rewarding habit.  If you’re

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rules

2023

The year 2023 brought with it a number of changes to the rules governing retirement deposits and withdrawals. This includes changes, in both this and future years, for RMDs from tax-advantaged retirement accounts. New legislation

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purchasing life insurance how much life insurance do I need

How Much Life Insurance Do I Need?

This week’s article may help you to think about why you are purchasing life insurance. There are several different reasons why you would purchase life insurance: Once you understand why you’re purchasing life insurance, that

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fraudsters

How to Spot Con Artists and Fraudsters

The National Council on Aging reports that financial scams targeting older adults are on the rise. According to the Federal Bureau of Investigation in 2021, there was a 74% increase in losses to older victims

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children

Children and Grandchildren

Often when we ask ourselves ‘Have I saved enough for retirement?” we’re really just asking if we can afford to give financial gifts or assistance to our children or grandchildren. The difficult part in answering

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foundation of financial literacy

A Foundation of Financial Literacy

We are often asked about “financial literacy.” The phrase refers to the ability to understand and use various financial skills, and is the foundation of your relationship with money. A strong foundation of financial literacy

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