Throughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your first job, or are starting a family, enjoying your peak earning years, or… Read More
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Choosing a Continuing Care Retirement Community
What is a Continuing Care Retirement Community (CCRC)? CCRCs are retirement facilities that offer housing, meals, activities, and health care to their residents. These communities appeal to people who are currently in good health, but who worry that they may… Read More
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Rob Carpenter is Baltimore magazine’s Thought Leader of the Month
Baltimore-Washington Financial Advisors, Inc. (BWFA), was founded in 1986 and is headquartered in Columbia, Maryland. BWFA is among the largest and oldest independent, fee-only financial advisory firms in the Baltimore/Washington metropolitan area. BWFA acts as a fiduciary and serves clients… Read More
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Decisions, Decisions: Choosing Among Retirement Plan Contribution Types
If your employer-sponsored 401(k)or 403(b) plan offers pre-tax, Roth, and/or non-Roth after-tax contributions, which should you choose? How do you know which one might be appropriate for your needs? Start by understanding the features of each. PRE-TAX: FOR THOSE WHO… Read More
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Transitioning Into Retirement Can Be A Good Thing
If you’re considering retirement within the next five years or so, you’re in the retirement “zone.” This is a critical time period during which you’ll be faced with a number of important choices, and the decisions you make can have… Read More
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The Individual 401(k)
If you’re self-employed or own a small business, you’ve probably considered establishing a retirement plan. If you’ve done your homework, you likely know about simplified employee pensions (SEPs) and savings incentive match plans for employees (SIMPLE) IRA plans. These plans… Read More
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Evaluating An Early Retirement Offer
In today’s corporate environment, cost-cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you’ve received is a good one? By evaluating it… Read More
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Deciding When To Retire: When Timing Becomes Critical
THINKING ABOUT EARLY RETIREMENT? Retiring early means fewer earning years and less accumulated savings. Also, the earlier you retire, the more years you’ll need your retirement savings to produce income, and your retirement could last quite a while. According to a… Read More
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How to Help Your Aging Parents Prepare for Retirement
Some people stride into their retirement years with the same self-assurance they’ve demonstrated all their lives. They’ve got the retirement thing figured out, and they don’t need help from anyone. But others go into retirement never entirely certain they’re actually… Read More
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Pay Down Debt or Save for Retirement?
You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. However, like many people,… Read More
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Retirement Plans for Small Businesses
As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed a deduction for contributions you make to an employer- sponsored retirement plan. In return, however, you’re required to include certain employees in the… Read More
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Financial Planning: Helping You See The Big Picture
Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That’s where financial planning comes… Read More
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Caring for Your Aging Parents
Caring for your aging parents is something you hope you can handle when the time comes, but it’s the last thing you want to think about. Whether the time is now or somewhere down the road, there are steps that… Read More