Understanding Sequence of Returns Risk: Protecting Your Investments from Market Volatility
Let’s begin with the definition–sequence of returns risk refers to the possibility of running out of money due to poor investment returns in the early years while you are withdrawing from the account. This is often associated with retirement accounts during the spenddown stage of life. Simply put–timing does matter. A retiree relying on income […]
3 Strategies to Consider When Taking Your RMD’s
When you retire there are things to consider before taking your required minimum distributions. Once you have reached the age of 73 you will be required to withdraw a specific amount from your tax deferred retirement accounts. These include your employer 401(k), 403(b), traditional, SEP and Simple IRAs. Due to the Secure Act 2.0, if […]
New Year, New Budget: How to Refresh Your Financial Plan
The Budgeting Process Summary: The beginning of the New Year is the perfect time to budget for this upcoming year. To start planning your budget, begin by calculating the after-tax income of your yearly salary. After-tax income is calculated by subtracting the amount you receive after automatic deductions for a 401(K), health insurance, and life […]
Holiday Budgeting: How to Spend Smart This Holiday Season
Holiday shopping can be stressful as prices are increasing, and it can be easy to overspend on gifts for family and friends. With the additional purchases of decorations, travel expenses, and holiday foods for the festive family get-together, it is important to put aside time to plan accordingly to help relieve some of the unwanted […]
Unleashing the Age Conundrum: Exploring Retirement Timing and Financial Considerations
Does Age Matter? The most frequent question that gets asked is, when is the best time to retire? The current average retirement age in the United States is 62.3 years for women and 64.6 years for men. The age that you do end up retiring will affect your finances. Determining the right age for you […]
