First Steps to Starting the Estate Planning Process
Estate planning is a crucial step for retirees to ensure their assets are distributed according to their wishes and to provide clarity for their loved ones. Beyond the legal and financial aspects, it's essential to approach this process with sensitivity, acknowledging the emotional complexities involved. Here's a guide to help you navigate estate planning thoughtfully and effectively. Begin with Open [...]
4 MORE Mistakes to Avoid Before You Officially Retire
As we turn to the new year, it’s important to make sure your retirement strategy bases are covered—helping you maintain financial stability so you can build an enriching retirement. Here are four more mistakes to look out for and avoid as you prepare for your golden years. Not Having a Withdrawal Strategy A common mistake is withdrawing too much too [...]
4 Mistakes to Avoid Before You Officially Retire
Retirement marks the start of a new chapter filled with opportunities for relaxation, travel, personal growth, and more. However, a financially stable, smooth transition requires careful planning to avoid common pitfalls. Here are four mistakes to sidestep as you prepare for your golden years. Underestimating Healthcare Costs Healthcare is one of the largest expenses in retirement. According to Fidelity’s Retiree [...]
What Retirees Should Know About Tariffs
As a new administration weighs its stance on tariffs, it’s worth considering how these policies may affect retirees and their financial plans. Tariffs, often described as taxes on imported goods, are actually taxes imposed on U.S. companies importing foreign products. These taxes can ripple through the economy, impacting consumer prices, including essentials that retirees rely on, such as groceries, healthcare, [...]
The Pros and Cons of Life Insurance: An Overview
Life insurance can be a great piece of financial support for your family, but, in some cases, also for your immediate financial needs. Life insurance has been around for centuries, providing peace of mind and financial security to millions of families worldwide. However, like any financial decision, purchasing life insurance comes with its own set of advantages and disadvantages. In [...]
Recent Tax Changes Boost 529 Plan Benefits
529 plans, the popular tax-advantaged savings accounts for education expenses, have become even more attractive in recent years thanks to a series of federal tax law changes. These modifications have expanded the versatility of 529 plans, making them a more powerful tool for families planning for educational expenses. What is the 529 Plan? A 529 plan is a tax-advantaged investment [...]
How Spending and Budgets in Retirement Change Over Time
Retirement is often viewed as a static phase of life, but the reality is far more dynamic. As retirees progress through their golden years, their spending habits and budgetary needs evolve significantly. Understanding these changes is crucial for effective retirement planning and ensuring financial stability throughout this important life stage. The Early Years The initial years of retirement are often [...]
Important Updates to Social Security in 2025
As we approach 2025, the Social Security Administration (SSA) has announced several important changes to the program that will affect millions of beneficiaries. These updates are designed to keep pace with the changing economic landscape and ensure that retirees and other recipients can maintain their quality of life. Here's a comprehensive look at the four major changes coming to Social [...]
