We help individuals and families work towards pursuing their ideal retirements.
December 13, 2022

With every change in the world, there always seems to be the temptation to make an impulsive financial decision, especially when it comes to investing. This year especially was difficult for investors who made such decisions when the coronavirus hit hard and upended the stock market bringing a lot of panic selling with it. Events like the coronavirus and this year’s presidential election are always impactful when it comes to investor markets, but you need to be careful about investment decisions made solely on market movements. You can keep your long-term goals and continue building wealth if you follow certain tips.

Hold Steady When There’s A Sudden Dip

The COVID-19 recession was not a typical recession since a global pandemic is a rare event, but there will always be future corrections and recessions when economic activity reaches its peak and has to slow down. A recession certainly can cause a drop in your portfolio, especially during a volatile stock market period, but this is often only temporary. Unless a company whose stock you own is actually in danger of going bankrupt and becoming insolvent, chances are it’s going to rebound and perform a lot better once the market stabilizes again. In fact, a market dip could be the perfect time to buy more stocks or mutual fund shares.

Watch Out For Bubbles

Sometimes certain industries show promise of becoming the future of consumer demand, but they can end up being bought into too prematurely at times. For example, back in the early 2000’s, many investors were buying into new web-based companies and those they expected to become tech giants, and as a result too many stocks became overpriced and caused market bubbles. When your investments start becoming unusually high valued, it’s usually a good idea to sell off overvalued assets and place your funds in more stable assets until the market cools.

Pay Attention To Government Regulations

One issue you do need to be aware of is government actions in response to major events that could impact your investments. For example, the Dodd-Frank Act greatly affected the real estate market, and new tax regulations are always affecting how investors allocate their assets. It’s important to stay informed about how regulations will affect various industries, especially sectors like energy and manufacturing, and consider whether you need to diversify more out of those industries. You should also consider how capital gains taxes and dividend taxes affect your assets, and also move assets around between tax-deferred accounts and standard brokerage accounts.

Be Aware Of The Federal Reserve’s Interest Rate Changes

Another thing that influences the stock market is the Federal Reserve, and when it adjusts the federal funds rate, the market can move up and down. It’s often discussed that when interest rates go up and the stock market trends down, the bond market is the place to go. But before you consider adjusting your portfolio into bonds, consider where you are in your career, and when you expect to retire. Bonds tend to bring in much lower earnings, and they are not a great hedge against inflation. If you’re interested in other investments during interest rate changes, and you’re willing to take on a little risk, you might consider investing in alternative assets such as real estate or even precious metals.

Have A Budget For Retirement And Plan What You’ll Do When You Have To Take Distributions.

Remember, if you own certain retirement accounts, you have to take minimum distributions from it by a certain age as specified by the IRS. The good news is they’ve bumped the age back from 70 1/2 to 72 for certain individuals. But once you start taking those distributions, you need to make sure they are being budgeted wisely so you can guarantee income will last all throughput your retirement.

November 30, 2022

When it comes to getting ready for retirement, the focus is typically on setting aside enough money and investing wisely so you have enough to not only retire but also thrive. But what many people don’t realize is that you need more than just an impressive nest egg and a solid investment plan to thrive in retirement. It would help if you also thought about how to pay yourself in retirement.

Paying yourself means figuring out how you will fund your everyday expenses during your golden years and other necessary expenditures, such as housing, travel and education. If you’re unsure where to start, here are some ways to pay yourself in retirement.

1. Social Security

One of the best ways to pay yourself in retirement is to receive Social Security benefits. Upon retiring, you will be eligible for a monthly benefit based on your average indexed monthly earnings during your working years, which means you can earn more as you get older and receive more benefits.

The benefits you’ll receive depend on your retirement date and the number of years you worked, but the average monthly benefit is $1,166 per month at age 65 and $1,360 per month at age 70. While it’s recommended that you begin collecting Social Security at age 62 because it takes time for your benefits to build up and increase significantly, there are still plenty of other ways to pay yourself in retirement if you start earlier.

2. Pension Benefits

Another great way to pay yourself in retirement is through a company pension plan that provides a steady income throughout your retirement years. If you require less income throughout your retirement because you’re not working, you can still get a pension benefit that will help supplement your need for income.

Pension benefits are often based on the time you worked and the amount of money you made while employed by your company, so they may not be as much as Social Security benefits. Still, they provide a steady income stream that can help offset living expenses and allow you to retire debt-free.

3. 401(k) Retirement Plans

If you’re eligible to participate in a 401(k)-retirement plan, it’s a great way to pay yourself in retirement. While you won’t be able to withdraw money from your 401(k) until age 59 1/2, there are plenty of other ways to earn interest on your contributions. You can even use the money in your 401(k) to pay down debt or increase your savings if you have extra cash.

4. Annuities

Another good way to pay yourself in retirement is by investing in an annuity contract. An annuity contract is a policy that pays out a monthly income for the rest of your life, but it also allows you to receive payments for as many years as you want (up to 35 years). This means that if you start receiving payments early on, you can enjoy the benefits of an annuity for longer than 35 years. Annuities are contracts that provide a stream of income for life, usually in a fixed amount.

While annuities don’t provide the same compounding growth you’ll see with investments, annuity payments are guaranteed for life and can be very valuable in retirement. The average payout from an annuity is $1,300 per month at age 65 and $1,600 per month at age 70.

Index or fixed annuities are not designed for short-term investments and may be subject to caps, restrictions, fees, and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims-paying ability of the issuer. There are many types of annuities, so be sure to speak to your advisor regarding the differences and which type may be best for you.

October 30, 2022

In the United States, there are many ways to get financial aid to help pay for college. There are scholarships, grants, and even low-interest loans. However, with these options, student loan debt continues to grow. In fact, according to a recent report by the New York Federal Reserve, the average student loan balance has grown to $21,200 in the last ten years alone. Thankfully, there is another way to reduce or even eliminate your student debt: The Student Debt Forgiveness program. Student Debt Forgiveness programs can substantially lower or eliminate student loans if you meet specific requirements and conditions.

What is the Student Debt Forgiveness program?

The student debt forgiveness program is a government initiative to reduce or eliminate student loan debt for specific individuals. There are many different types of student debt forgiveness programs. They are designed to help those with high debt or who work in particular fields. It is important to note that only certain types of debt can be forgiven through the student debt forgiveness program: Graduate or undergraduate debt, federal student loans, and specific types of loans.

How Does the Student Debt Forgiveness Program Work?

The first step to seeing how student debt forgiveness works is to understand what types of debt qualify. As mentioned above, only certain types of debt qualify for student debt forgiveness: Graduate or undergraduate debt, federal student loans, and specific types of loans. Then, you’ll need to get your hands on the correct forms. You can find the documents online, at your school, or in the mail when you begin repaying your loans. Once you have the proper paperwork, you’ll have to fill it out and send it in. Finally, you’ll have to wait to see if you qualify. There is no set amount of time it will take to hear back. Some people have their debt forgiven instantly, while others wait years. It all depends on the debt type, income, and overall financial situation.

Who Can Get Student Debt Forgiveness?

Student loans are a hefty investment, and many students graduate with hundreds or even thousands of dollars in debt for their education. The student loan forgiveness program is the main program for individuals with high student loan debt and low incomes. To qualify for student loan forgiveness, you must first figure out what type of debt you have. There are two federal student loan debt types: Direct and federal student loans. You may qualify for a particular student debt forgiveness program if you have national student loan debt.

When Can You Be Eligible for The Student Debt Forgiveness?

There are a few different types of student debt forgiveness programs. Depending on the program type, you must meet specific requirements and conditions to qualify for student debt forgiveness. The first type of student debt forgiveness program is the Public Service Loan Forgiveness program. This program is designed for individuals working in the public service field. To qualify for the Public Service Loan Forgiveness program, you must make 120 on-time payments on your student loans while working full-time in the public service field. The income-based repayment program is the second type of student debt forgiveness program. This program is designed for individuals with low incomes who have high student loan debt.

Student debt is a growing problem in the United States, with the average student loan balance rising. Thankfully, there are ways to reduce or even eliminate your student debt, and the Student Debt Forgiveness program is one among them. There are many different Student Debt Forgiveness programs. Each program has its own set of requirements and conditions. However, you generally enroll in a repayment plan and make consistent monthly payments for a specific time. After you have made a certain amount of payments on time, you may be eligible for the forgiveness of your remaining student loan debt.

October 18, 2022

The COLA is a Cost-of-Living Adjustment for Social Security beneficiaries. It’s also known as the raise, which helps offset rising living costs so that beneficiaries don’t experience a decline in their standard of living. Seniors spend more on utilities, housing, and healthcare than younger people. In some places, the increase in prices of goods and services isn’t keeping up with general inflation. This means that the cost of living in those areas is increasing faster than average inflation.

How is COLA Calculated?

COLA is calculated using the Consumer Price Index (CPI). The CPI measures the average increase in prices of goods and services in the United States. The government determines the CPI in a given month. The CPI is calculated using the prices of many consumer products and services, including food and housing. The COLA is based on the previous year’s third-quarter CPI.

Transportation Change

The cost of transportation is a separate component of the COLA calculation. The transportation component measures the change in the cost of commuting to work. Commuting costs are based on the change in the price of fuel. The price of regular unleaded gasoline measures fuel costs. However, gasoline prices are expected to drop during the year’s second half.

Consumer Product Price Index (CPI) And Expected CPI Change

The CPI is used to calculate the COLA for Social Security beneficiaries. The CPI is based on the average increase in prices of goods and services. The government measures the CPI in a given month. The CPI is calculated using the prices of many consumer products and services, including food and housing. There are two different CPI indices: CPI-W and CPI-U. The CPI-W is used to calculate COLA for most Social Security beneficiaries. The CPI-U calculates COLA for certain people who receive Supplemental Security Income (SSI). The CPI-W is expected to increase by 2.8% in the coming year.

Housing Costs and Expected CHA Change

Housing costs are expected to increase by 2.8% in the coming year. This is much lower than the housing cost increase in previous years. The average homeownership cost is expected to increase by 2.8% in the coming year. This includes mortgage payments, maintenance, and taxes. The average rent for a one-bedroom apartment is expected to increase by 2.8%. This includes the cost of utilities.

Food Stamps and Expected FBA Change

The cost of food is expected to increase by 2.8%. This is lower than previous years’ costs. This cost increase is expected most by people receiving food stamps. The cost of a $50 monthly food basket is expected to increase by 2.8%. This is based on the average increase in prices of food items.


The change in the CPI, which measures the average increase in the price of goods and services in the United States, determines the COLA. In recent years, the price increase has been lower due to the state of the economy. However, in general, the cost of living has been rising. Social Security beneficiaries need a higher COLA to keep up with rising costs. The COLA is based on the previous year’s third-quarter CPI. The final COLA is announced by the third quarter of the year. If the CPI continues to increase, the COLA will increase in the coming year.

September 25, 2022

If you’ve been reading financial advice for a while, you’ll probably have heard repeatedly that saving for your retirement is one of the most important things you can do to secure your future. You’ll probably spend the rest of your life working on a pension plan, and those plans will continue to change. You may wonder if you can make up for lost time or whether it is too late to start saving for retirement. The answer to both of those questions is yes; however, you must put in serious effort. If you have been working for any time, it may not be too late to catch up on retirement savings.

Can You Catch Up on Retirement Savings?

While it’s not possible to catch up on retirement savings at age 40, it is possible to catch up on retirement savings at age 60. You can get as close as you want to having as much saved up as someone who started saving at 25. Retirement savings are all about the power of compound interest. The best way to catch up on retirement savings is to start saving as much as possible.

The Importance of Starting Early

The best way to catch up on retirement savings is to start saving as soon as possible, but it’s also important to remember that the earlier you start investing, the better. The power of compound interest means that you’ll see that investment grow much faster if you start young.

How Much Should You Have for Retirement

You’ll need to start saving more to close the gap between what you’ve saved and what you should have saved in your 40s and 50s. That doesn’t mean you should go out and double your monthly savings; saving as much as possible is essential, but you also need to ensure you don’t cripple your finances. Instead, try to find ways to save a little more each month.

Is It Possible to Make Up For Lost Time?

Absolutely. The earlier you save, the more you’ll benefit from compound interest. That means that even if you start saving for retirement at age 40, you can still compensate for lost time. However, if you try to save too fast, you risk quitting and giving up. Start slow, build up your savings, and you can make up for the lost time in the long run.

How To Catch Up on Retirement Savings in Your 50s

If you’re in your 50s and suddenly realize you’re way behind on your retirement savings, there are a couple of steps you can take to try to catch up. First, calculate how much you need to save to reach your retirement savings goals. Then, look at your budget to see where you can cut to free up more money for retirement. Start by re-evaluating your insurance plans. You may have insurance policies you no longer need, such as life insurance, disability insurance, and health insurance. Cut back on your insurance spending as much as possible, especially if it’s unnecessary.


Retirement is a long-term goal; you should start saving for it as soon as possible. Generally, you should save 10-20% of your monthly income. In your 20s or 30s, you’ll have plenty of time to save a significant nest egg and retire comfortably. However, in your 40s or 50s, you may feel like there’s no way to catch up on retirement savings.

September 18, 2022

A Revocable Living Trust is a document that specifies how you want your property to be distributed after your death. It’s also called an “inter vivos” trust because it’s created while you’re still alive and living, so it can be changed anytime during your lifetime.

Revocable Living Trusts are well suited to many types of families. Some people use them when establishing a new family estate, while others want to separate their assets into different parts of the estate for each child or adult child. Others use them when a minor needs their money in an emergency but doesn’t yet qualify for a conservatorship. (For example, an 18-year-old student suddenly drops out of school.

How Does It Work?

The Revocable Living Trust sets up the structure for your estate, but the document doesn’t transfer assets to it. Instead, you set up a separate document called a “pour-over will” to transfer assets into the Revocable Living Trust after your death—and perhaps after you’re incapacitated. The pour-over will name a trustee who handles the trust’s money, property and investments. This trustee can be a family member or professional and can be changed if necessary. (Some people choose to add a successor trustee to take over in case the initial trustee cannot fulfill the role.)

With a Revocable Living Trust, your property is held separately from your spouse’s. If you die before your spouse, their creditors can’t go after your assets. It also means that if you’re incapacitated when you die and need someone else to manage your money and property, it will still be yours for them to manage.

Revocable Living Trusts are great for families because parents can leave their assets to their children without fear that their child’s creditors will get the money. They can decide whether and when to change their wills and trusts, but they don’t have to do it at an inconvenient time, like just before death.

A Revocable Living Trust lets you distribute your assets in any way you want without making a final decision, so it’s better than a will in terms of flexibility and changeability. About half of Americans don’t have wills in place, which means that if they unexpectedly die or become incapacitated, they could lose everything or be stuck with someone else’s debts.

Revocable Living Trusts are also great for people who want to avoid taxes. In a will, you transfer assets to your beneficiaries and then gift them the money (the executor executes the will). In a Revocable Living Trust, you decide how to pass your assets without transferring them. Some states allow you to determine how much is distributed annually without claiming it as a taxable gift.

A few states do not allow Revocable Living Trusts because they don’t think they’re flexible enough or don’t have enough safeguards against abuse or fraud; if that’s the case in your state, you can use a Lasting Power of Attorney instead.

You should be careful about the type of Revocable Living Trust you use, especially if you want to leave money and property to your children. Many people use a full asset protection trust, which means it’s designed for people with lots of assets who want to avoid estate taxes.

Information provided is not intended as tax or legal advice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.

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