Many people are taking a much closer look at retirement planning and retirement saving, and with good reason. The questions surrounding Social Security and Medicare, low interest rates on savings, volatility in investments, and the departure of pensions from most jobs, has changed the landscape of retirement planning and retirement savings. Regardless of our age, […]
Category Archives: Retirement
Our financial goals are often very general such as “be out of debt” or “get a better handle on our money”. If we don’t have a clear picture of where we are and where we’re headed, the chances that we’re making progress in the right direction are pretty slim. In fact, we could be slipping […]
If you’re employer has a 401(k) plan and you’re not contributing, it’s time to take a serious look at the financial benefits these plans offer. Company sponsored 401(k) plans allow us to deposit a limited amount of pretax income (taken from our gross pay before taxes are withheld) to an account that grows tax-deferred. This […]
Many people are taking a much closer look at retirement planning and retirement saving, and with good reason. The questions surrounding Social Security and Medicare, low interest rates on savings, volatility in investments, and the departure of pensions from most jobs, has changed the landscape of retirement planning and retirement savings. Regardless of our age, […]
A recent survey indicates that only 1 in 5 people of retirement age know how t0 make their savings last through retirement. Many had never even heard of the 4% savings withdrawal rate that pops up in articles weekly, and many had never heard the term savings longevity. The savings longevity calculation determines the length […]
What is personal economic value and why is it important? Our personal economic value is our earnings potential or what can we expect to earn between now and when we plan to stop working. As an example, if I currently earn $44,000 each year, I’m 32 years old, and I plan to retire at age […]
We don’t hear much about personal economic value, but when considering survivorship and life insurance it helps us understand and prepare for some really large numbers. Our personal economic value is our earnings potential, or what we expect to earn between now and when we plan to stop working. If I currently earn $124,000 each […]
If you’re employer has a 401(k) plan and you’re not contributing, it’s time to take a serious look at the financial benefits these plans offer. Company sponsored 401(k) plans allow us to deposit a limited amount of pretax income (taken from our gross pay before taxes are withheld) to an account that grows tax-deferred. This […]
Survivorship planning is an often overlooked area of personal finance or is limited to large obligations like a mortgage, but there are many smaller items that could add up to a large financial burden for our survivor. We should start by analyzing the ability of our dependents to continue financially without us beginning tomorrow. This […]
