Planning on working during retirement? If so, you’re not alone. An increasing number of employees nearing retirement plan to work at least some period of time during their retirement years. WHY WORK DURING RETIREMENT? If you work during retirement, you’ll… Read More
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Strategies for Maximizing Retirement Contributions Before Year Ends
Rounding out another year comes with a long list of things to get done. Between the holiday rush and the end of the year, you might not have thought about your year-end tax planning, specifically maximizing your retirement account contributions. If you… Read More
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Selecting an Executor
What is an executor? An executor is a personal representative who acts for you after your death. You nominate or designate an executor in your will to settle your estate. The person chosen will act in your place to make… Read More
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Healthy, Wealthy & Wise
“When health is absent… wealth becomes useless.” — Herophilus, Ancient Greek Physician That might have been the case 2,300 or so years ago, but it’s a doctrine I live by today, specifically noting the benefits of regular checks for both… 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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10 Tips to Help Your Marriage Survive Retirement
While you may view retirement as a long-anticipated emancipation from the work world, it is also a period of considerable change and adjustment. If you are married, some of the most profound changes will take place within the context of… 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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Are Bonds “Conservative Investments”? Maybe Not.
BWFA has been underweighting allocations to bonds and other interest-rate-sensitive investments, given that many of these choices pay very little, and there is a risk to principle eroding, if interest rates go up. Bonds may not be as glamorous as… Read More
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Understanding Defined Benefit Plans
You may be counting on funds from a defined benefit plan to help you achieve a comfortable retirement. Often referred to as traditional pension plans, defined benefit plans promise to pay you a specified amount at retirement. To help you… Read More
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Understanding IRAs
An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs are one of the most powerful retirement savings tools available to you. Even if you’re contributing to a 401(k) or other plan at work,… Read More
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Is it Time to Review Your IRA Estate Planning Strategies?
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was passed in December 2019 as part of a larger federal spending package, included a provision that warrants special attention from those who own high-value IRAs. Specifically, the “stretch”… Read More
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Risk Management and Your Retirement Savings
By investing for retirement, you are helping to manage a critically important financial risk: the chance that you will outlive your money. But choosing to invest is just one step in your financial risk management strategy. You also need to… Read More
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The Joys and Financial Challenges of Parenthood
Parenthood can be both wonderfully rewarding and frighteningly challenging. Children give gifts only a parent can understand — from sticky-finger hugs to heartfelt pleas to tag along on Saturday morning errands. You raise them with a clear goal that you… Read More
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Health Insurance in Retirement
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests… Read More
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Converting Investment Assets to Retirement Income
During your working years, you’ve probably set aside funds in retirement accounts such as IRAs, 401(k)s, or other workplace savings plans, as well as in taxable accounts. Your challenge during retirement is to convert those savings into an ongoing income… Read More
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Personal Residence Issues in Retirement
WHAT IS IT? As you grow older, housing issues become an integral part of your retirement plans. You may be living on a fixed income and want to get additional cash by borrowing against the equity in your home. You… Read More
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Balancing a Retirement Portfolio with Asset Allocation
The combination of investments you choose is as important as the individual investments themselves. In fact, many experts argue that it’s even more important, since the mix of various types of investments accounts for most of the ups and downs… Read More
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Four Reasons Your Parents Might Be In Financial Trouble
As your parents age, they will probably need more help from you. But it may be difficult to provide the help they need, especially if they’re experiencing financial trouble. Money can be a sensitive subject to discuss, but you’ll need to… Read More
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The Great Joy of Traveling
Some of the best conversations I have with our clients is finding out where folks have gone and what adventures they have encountered during the year. Nothing makes me happier than seeing our clients happy, healthy and yes, wealthy. Wealth… Read More
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Asset Allocation in Retirement
Your asset allocation strategy in retirement will probably be different than the one you used when saving for retirement. During your accumulation years, your asset allocation decisions may have been focused primarily on long-term growth. But as you transition into… Read More
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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… Read More
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Health Insurance In Retirement
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and… 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