Retirement

Planning for retirement has never been more important and yet so challenging. Given the difficult inflationary conditions of the past two years, the risk that worries most retirees continues to be outliving their savings.

What’s more important: What you do or what you don’t do? It’s a philosophical question, isn’t it? Let’s think about it in terms of your retirement — especially right now.

Retirement is just as much a leap of faith as any other significant life change. No matter how much you prepare, you will only really understand all the implications when you start your new life.

The SECURE 2.0 Act of 2022 makes it easier to accumulate retirement savings at every stage of the financial journey. But the Act also took steps to potentially enhance retirement savings for those close to or in retirement.

Whenever important new legislation is released as it relates to financial planning matters, we like to bring the pertinent details to your attention.

It’s not the most imaginatively named legislation, but the SECURE 2.0 Act expands the 2019 SECURE Act to make it easier to have a successful retirement.

Planning for retirement is something you’ve probably been doing for a good part of your working life. You’ve saved, invested, and mapped out your post-retirement life and goals.

Millennial and Gen Z employees know the value of an employer-sponsored retirement plan.

Waiting until 65 to retire isn’t as easy as it used to be – especially since, for many people, their retirement age is now closer to 67. But retiring early and successfully requires planning to ensure you can have the life you envision.

There's one question we hear most often from those nearing retirement, is some variation on this: “How do I get my money out of my retirement plan and into my checking account?”

You saved diligently, invested carefully, and now you have a sizeable nest egg that can most likely replace 80% of your pre-retirement income. Why should you go through the tiresome process of creating a budget? No matter how carefully you plan, many things are out of your control that can impact the income your plan can provide.

Creating a retirement paycheck that generates the income you need while keeping you in the lowest possible tax bracket isn't as easy as it seems. All the planning you did while working – like saving retirement funds in tax-deferred accounts and diversifying by purchasing a second home, can turn into tax bombs as you move through retirement.