Retirement planning is a critical aspect of financial well-being, and understanding the rules and regulations governing retirement accounts is essential for making informed decisions about your future. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in 2019, introduced significant changes to retirement planning in the United States. Fast forward to 2023, and […]
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Should You Take Out A Loan From Your Retirement 401k Plan?
In 2022, most people need more savings to retire at the standard age. Luckily, we live in a time when there are more options than ever. One of those options is taking out a loan from your 401k plan. Just keep in mind that these loans come with their own set of pros and cons. […]
Continue ReadingWhat Are The Pros And Cons Of Getting A Reverse Mortgage?
If you have a mortgage, you may have heard about a way to have a mortgage loan that requires no payment. This may sound surreal, but it is known as a reverse mortgage. As opposed to the traditional mortgage loan that is repaid over time, the reverse mortgage is designed for the homeowner to receive […]
Continue ReadingHow Much Should You Contribute To Your 401(k) Plan In 2022
The amount of money that you put into your retirement fund now will have a big impact on what you can afford to live on when you retire. How much should you contribute to your 401 (k) in 2022? It is a question that many people are asking. The answer is different for every person […]
Continue ReadingMoney Milestones You Need To Hit Before 30
Managing money is a skill that takes practice. When a person is in his or her 20’s, careers are just getting off the ground. Spending that hard-earned cash seems to be their new goal. Although a few indulgences are understandable, consider a few objectives that should be part of those long-term plans. Explore these top […]
Continue ReadingHow To Save For Retirement When Trying To Pay Off Debt
It can be tough to think about your future or retirement when you’re struggling with debt. It’s challenging to save up enough money to last throughout all of your retirement, but doing so with debt poses even more issues. Because of this, many people struggle with saving money while they pay off their debt. For […]
Continue ReadingThe Exclusive Retirement Readiness Checklist
Planning for retirement should feel exciting and thrilling, not stressful and overwhelming. After working for the vast majority of your adult life, the prospect of living a carefree life while retired should help you to feel hopeful about your future as you get your finances and future budgeting in order. You can use this handy […]
Continue ReadingHow To Retire On Very Little Money
Americans are notorious for being terrible savers. More than one-fifth of all United States adults have absolutely nothing stored away for retirement. Nearly four-fifths of all Americans are seriously worried that they will run out of savings before they pass away. Retirees, however, don’t actually need that much money saved up prior to leaving their jobs, kicking back, and relaxing. Most […]
Continue ReadingHow Workplace Financial Wellness Programs Can Help
The 2018 PricewaterhouseCoopers (PwC) Employee Financial Wellness Survey found that 54% of employees are stressed about their finances. According to a Country Financial Security Index survey, 67% of Americans worry about their financial future, credit card debt last year hit a record high, and 44% of people can’t come up with $450 to cover an […]
Continue ReadingWhen Should You Start Collecting Social Security Benefits
Collecting Social Security Benefits For Retirees – The age at which an individual should begin collecting Social Security depends on his or her unique circumstances. The longer an individual can delay collecting, the higher the monthly benefit amount will be. Ultimately, the total amount collected will probably be about the same. Those who start collecting […]
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