Inflation Doesn’t Retire When You Do
The need to outpace inflation doesn’t end at retirement; in fact, it becomes even more important. If you’re living on a fixed income, you need to make sure your investing strategy takes inflation into account. Otherwise, you may have less buying power in the later years of your retirement because your income doesn’t stretch as […]
When to Consider Target-Date Funds
Since target-date funds were first offered in the early 1990s, they’ve become a widespread investment vehicle for retirement. Their booming popularity is no surprise. After all, a target-date fund (or TDF) is easy for novice investors to manage, and even experienced investors can appreciate the hands-off simplicity they can offer. But do your research: a […]
Teaching Your Child and Teen About Money
Ask your 5-year old where money comes from, and the answer you’ll probably get is “from the bank!” Even though children don’t always understand where money really comes from, they realize at a young age that they can use it to buy the things they want. So as soon as your child becomes interested in […]
4 Ways to Avoid Common Investor Biases
It may stun some folks, but successful investing often relies more on managing emotions than on managing the market. I’m emphasizing this even after analyzing fund and macroeconomic data for the last three hours. Our biases and emotions play a strong role in our investment decision-making, often to our detriment. Let’s start with recency bias, […]
COLA Limits for 2019
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement accounts and the Social Security wage base for 2019. Many of the limits have changed for the 2019 plan year. Changes for 2019 are in bold in the chart below. IRA and SIMPLE plan limits are […]
What’s Your Risk Tolerance?
Investing always involves a degree of risk. If you plan to buy securities such as stocks, mutual funds, ETFs, or bonds, it is important to realize you could lose some or all of the money you invest. Finding an investment profile that fits your risk tolerance while still allowing you to reach your goals can […]
Will Medicare alone be enough to cover my healthcare needs in retirement?
No. Medicare coverage comes with deductibles and significant co-payments or coinsurance costs for many types of treatments, including hospitalizations. Typically, the deductible amounts are increased each year. If you’re not prepared to pay these expenses out of pocket, you may want to consider a Medigap policy (a supplemental medical insurance policy). Medigap insurance policies are […]
How often should I review my estate plan?
Although there is no hard-and-fast rule about when you should review your estate plan, the following suggestions may help: You should review your estate plan immediately after a major life event. You’ll probably want to do a quick review each year because changes in the economy and in the tax code often occur on a […]
2018 Year-End Individual Tax Planning Guide
The end of the year is coming soon, which means it’s time to make any changes that might affect your 2018 taxes. The material below has been prepared for informational purposes only. All decisions regarding tax implications should be made in consultation with your independent tax advisor. Maximize/Bunch Itemized Deductions The standard deduction has increased […]
401(k) Limits for 2018
It’s not too early to review how to make the most of your retirement contributions in 2018. Below you will find a table that shows the contribution limits for retirement accounts. It is for informational purposes only. Please note that the contribution limit for company sponsored retirement plans increased by $500 this year, which means […]
