There are several reasons why it's important to spring-clean your financial plan. First and foremost, it can help you identify any areas of your financial life that need attention or improvement. Maybe you've been neglecting your retirement savings or haven't updated your budget in a while. By taking a fresh look at your finances, you can identify any gaps or issues that need to be addressed.
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It's Time to Spring-Clean Your Financial Plan
April 16, 2024April Showers Bring May Flowers AND Tax Day
April 16, 2024As the old saying goes, "April showers bring May flowers," reminding us of the beauty that follows the rainy days of spring. However, amidst the anticipation of blooming flowers, there's another significant event in April that demands attention: Tax Day. April 15th is a day marked on calendars across the United States, signifying the deadline for filing income tax returns. Here are five essential tax topics to consider each year.
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Understanding Capital Gains Taxes and Planning
November 28, 2023Capital gains taxes might sound like a complex financial term reserved for Wall Street tycoons, but in reality, they touch most investors and many homeowners. Whether you're selling stocks, a piece of real estate, or that vintage baseball card collection, understanding capital gains taxes can help you make smarter decisions and keep more money in your pocket.
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Medicare Will Not Cover All Health Care Costs
November 7, 2023Medicare is a comprehensive health insurance program that covers a range of healthcare services, including hospital stays, doctor visits, preventive care, and prescription drugs. However, it does not cover all healthcare costs, and there are several out-of-pocket expenses that individuals may be responsible for.
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Planning Matters When Retirees Start Traveling
October 3, 2023Retirees often have the time, freedom, and desire to explore new destinations and make the most of their golden years. With careful planning and attention to detail, senior travelers can ensure their trips are safe, enjoyable, and stress-free.
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Younger Workers Stashing More for Retirement
August 9, 2023The importance of retirement savings has been gaining traction among younger workers, with Generation Z and Millennials taking a proactive approach to secure their financial futures. According to new research from Vanguard, younger workers today are participating in their workplace retirement plans at higher rates and saving more compared to 15 years ago.
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The Ultimate Downsizing Checklist Before Retiring
July 21, 2023As retirement approaches, many consider downsizing their home as a way to simplify their lives, reduce expenses, and focus on what truly matters. While the process can be emotionally and physically challenging, it can also be liberating and rewarding. To help you navigate this transition, we've compiled a comprehensive checklist for downsizing your home.
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Better-Than-Expected First Half
July 7, 2023As we finalize the log on the first six months of 2023, we believe there's value in reflecting on recent months gone by. Doing so can help crystallize key learnings and help chart a course through the rest of the year. Looking back on the first half of 2023, it's probably fair to say the outcome has been a bit better-than-expected for the stock and bond markets, especially compared to 2022's tumult.
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The Best and Worst of Times
September 8, 2022When it comes to stock market performance, August was "the best of times and the worst of times." The strong market rally that peaked in mid-August was viewed by many analysts as a transition from a bear to bull market, based on the surge in breadth that stocks enjoyed and the magnitude of the two-month rally that began in mid-June totaling 17%.
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Social Security and You: What Does the Future Hold?
March 19, 2021Social Security benefits currently represent approximately 33% of the aggregate total income of Americans aged 65 and older, according to the Social Security Administration. For future generations of retirees, Social Security may represent a much smaller percentage of retirement income.
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Should You Take an Early Retirement?
September 24, 2020The story is a common one these days. You have been furloughed or laid off, just a few years before you plan to retire. Or, your work-from-home arrangement is ending, and you're not keen on resuming the commute or going back to a crowded workspace. So why not retire now, since fate has presented the opportunity? Many 50- and 60-somethings are asking themselves this very question.
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Your Estate Plan: Time for a Checkup
August 24, 2020COVID 19 has brought tragedy to many families and businesses and impacted personal finances. It has also rendered many an estate plan inaccurate and unrepresentative of current circumstances. If you, your family or your beneficiaries have been affected by the virus, you may need to review and make changes to your plan.
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Think Twice Before Tapping into Your Retirement Savings
June 16, 2020New legislation -- the CARES Act -- permits qualified individuals to take early distributions from their retirement assets, such as their 401(k) or individual retirement account (IRA) -- penalty free. The rules, which sunset after 2020, are designed to help the many cash-strapped Americans who have suffered financially as a result of the coronavirus epidemic. But tapping into your retirement savings has its costs, and there may be better ways to shore up your short-term cash flow.
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Deciding When to Start Taking a Pension
February 21, 2020Most businesses today do not offer a pension plan. But pensions are still a common benefit for teachers, federal employees, and others who work in the public sector. Many grandfathered private-sector plans also still exist.
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