For some advisors, two negative quarters of Gross Domestic Product means we are in a recession. Other advisors are waiting for the National Bureau of Economic Research (NBER) to officially declare one. NBER defines a recession as “a significant decline…
In response to the 940,000 Colorado private-sector workers that lack access to an employer-sponsored retirement savings plan, the Colorado SecureSavings Program will allow those who need it the most to access this essential benefit. A retirement savings benefit is proven…
Many financial advisors and other economic experts advise that most Americans will need between 55 and 80 percent of their pre-retirement income when they retire if they want to keep their current lifestyle.
Diversifying your assets and investment will make sure you are prepared for any situation. It’s important that you review your options and make informed decisions in a proactive manner.
You may have a 401k and are needing to figure out if you want to leave it in your current plan, rollover the balance to an IRA, or take a withdrawal and pay taxes now. A number of significant issues call for consideration when making this decision. Learn more here.
From job layoffs, furloughs and shuttered businesses—the COVID-19 pandemic has undoubtedly impacted our economy, forcing many to make the hard decision about whether or not to dip into their retirement savings to pay the bills and put food on the table. Research found three in 10 Americans withdrew money from their retirement savings and 27% of Americans have decreased the amount of money they are setting aside for retirement savings or stopped saving for retirement altogether.
It's not uncommon for people to change their retirement date. COVID is only one reason people are reconsidering their retirement date, and it’s not always a delay. The time to retire, whether earlier than expected or later, is all about preparation.
This period of uncertainty has highlighted what matters most from an investment perspective–especially when preparing for retirement. What kind of investment approach will enable retirees to successfully ride through turbulent periods like we have experienced with COVID-19 with confidence and peace of mind?
54% of baby boomers have little to no savings, according to the Insured Retirement Institute. If that sounds familiar, then you need to start shifting your mindset from wondering why you put off saving to thinking about what will make you the most successful in retirement. Luckily, there are multiple strategies you can employ to help get you started.
To hedge against potentially higher personal tax rates in the future, there is something you can do now: Convert some or all of a regular IRA to a Roth IRA. This simple financial planning move could significantly decrease your future tax burden and reduce complexities for your heirs.
