When you think about retirement, you also should start planning for long-term care. Even if retirement is years away, you should include a long-term care budget as part of your retirement strategy.
Money plays a crucial role in everyone’s life, so it’s no surprise that children start learning about money early. Children are observers, and as they watch mom and dad make purchases at the store, fill the gas tank, and pay bills, they start to develop an awareness of money. That’s why financial literacy has to start early. Even before your kids are ready to open their own youth accounts, they should be prepared with basic lessons about savings, credit, and debt.
There are many ways to save for retirement. When choosing how to save, you want your retirement savings to be secure and yield a maximum return on your money, In addition to simple savings and individual retirement accounts (IRAs) that have a fixed interest rate, you should include a retirement investment strategy as well.
These days there is nothing novel about working from home. Since the pandemic began, 88% of organizations have mandated or encouraged employees to work from home to minimize the risk of contagion. And the number of stay-at-home workers will remain high even after the pandemic. According to a PwC survey, 78% of CEOs say remote work will continue post-COVID-19.
When balancing the household budget every month, how much are you setting aside for retirement? Retirement planning should be the foundation of your financial strategy. In addition to paying for housing, food, and other bills, you should allocate enough money for retirement savings so you will be prepared when you are ready to retire.
When considering a retirement strategy, one of the first questions you should ask is whether an individual retirement account (IRA) is right for you. IRAs are useful tools for any retirement strategy since they provide a means to lock money away and offer tax advantages. This blog will offer some insight into IRAs to help you determine what type suits your retirement needs. Opening an IRA is the easiest way to start saving for the future.
It’s never too early to start planning for retirement. In fact, the earlier the better. The more money you can put aside early before family obligations and other lifelong commitments ensue, the more money you will have when it’s time to retire. Anyone can open an IRA account, even if you have a 401(k) retirement savings plan where you work. A key fact to keep in mind: Your IRA continues to build on itself and in a way, it’s your smartest investment. Start as soon as you can and enjoy a larger payout for your efforts.
When someone talks about estate planning, do you think of wealthy relatives with lots of property and money in the bank? The truth is that we all have some form of estate or legacy, so we all need to go through estate planning—and the earlier the better. Consider this blog post your introduction to Estate Planning 101.
No matter how young or how old they are, everyone should have a will. Yet only 40 percent of Americans have one. Many people haven’t taken the time to draft a will because they are unclear on how a will works and what happens if they pass away without one.
There is an ancient Chinese proverb: “The best time to plant a tree was 20 years ago. The second best time is now.” The same is true when you consider your financial future and investing for retirement.
Annuities are often overlooked when developing a retirement strategy, largely because they are misunderstood. In fact, annuities have developed a bad reputation primarily because of unscrupulous insurance salespeople. The truth is that annuities can be a valuable part of your retirement plan, depending on your specific goals. To help you better understand the role of annuities in retirement planning, we offer a brief overview of annuities 101.