Financial Planning is a broad topic that spans your entire financial life.
These articles cover your early finances, saving for retirement, saving for life events, Social Security, and finally estate planning.
Additionally, check out related articles in these sections: banking, investing, real estate, and risk management
While many people relocate for the purpose of pursuing a new job, relocation can be an alternative for just about anyone who is looking for a lifestyle change, a decrease in living expenses, or who plan to move to be closer to family and friends. Whatever the reason you are considering a relocation, there are … Read more 8 Relocation Costs to Consider Before Moving
There is a limit which is set by the IRS every year for both Roth and Traditional IRA accounts. The current IRA contribution limits for those under 50 is $5,000 and for those over 50 it is $6,000. This allows for what is called a catch up. What is important in making the decision between … Read more The Real Difference Between Roth and Traditional IRAs
You can find countless approaches to save for retirement. For example, you can open a Roth IRA with a financial planner, contribute to a 401k through your company, contribute to a self-employed retirement plan, make investments through a discount brokerage firm, or a combination of the preceding. Having various retirement plans to pick from provides … Read more What Happens If You Contribute Too Much to Roth, IRA or 401k?
While aspects of social security benefits can be complex for individuals, the matter often gets more complicated for married couples. To plan out the best strategies for dealing with social security when it comes to marriage, there are important things you need to know. First of all, there are terminologies used when discussing social security. … Read more Spousal Benefits and Social Security Strategies for Married Couples
Traditional IRAs can give you a tax break and grow tax-deferred. Roth IRAs are funded by after-tax money and grow tax-free. Along with your 401(k), IRAs will likely constitute the bulk of your retirement savings. But IRAs can also be used for non-retirement purposes. If you’re buying your first home or paying for college, you … Read more IRA Withdrawal Rules: Penalty-Free Withdrawal From Traditional and Roth IRAs
There are two rules often cited by investors that sound similar but that in fact make very different claims. In this article, I’ll describe the differences between the two rules — the Multiply By 25 Rule and the 4 Percent Rule. The Multiply By 25 Rule The purpose of the Multiply By 25 Rule is … Read more The Multiply By 25 Rule and the 4 Percent Rule
Recent economic mess and stock market decline left many people wondering if they’ll have enough money for their retirement. Many will just have to adopt a more frugal lifestyle, but some people are lucky enough to have the option to delay their retirement. If you are in this latter group of people, here are several … Read more 3 Benefits of Delaying Your Retirement
Defining a good goal is hard enough in itself, but people still fail even with well thought out SMART goals. Why? The answer is simple: they fail to turn these goals into actions. Generally, a goal is broad and it is hard to identify ways to achieve it. To transform your goals into practical actions … Read more How to Create an Action Plan for Your Goals
Retirement is just around the corner. You think you’ve saved enough; but with the recent market drop, you are just not sure. Your retirement accounts have taken drastic blows and now you’re in doubt if you will ever retire. You decide it’s time to sit down with a Certified Financial PlannerTM to see if you … Read more 5 Things You Don’t Want to Hear From Your Financial Planner
There was an interesting comment from a reader, ToughMoneyLove, regarding the benefit of delaying your retirement because the Social Security Administration gives you 8% bump in benefits each year. Here’s that part of the comment: For your Mom, she will get an 8% bump in benefits for each year she delays taking SS until age … Read more Should You Delay Your Social Security Benefits?