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Category: Retirement Planning

Retirement Planning Connecticut: Staggering Benefits and Retirement with Your Spouse

Some say that a part of the American dream is for a couple to retire at the same time and enjoy their Golden Years doing everything together. The American reality may be something different. How to arrange your finances so that you, as a couple, don’t outlive your money and still have an enjoyable retirement lifestyle can be a complicated process. You cannot ignore the psychological effects that can accompany retirement, effects that can multiply if you both retire at […]   Read More
Date: April 19, 2021

Navigating Taxes IN Retirement

The road to lower tax paid runs through your entire lifetime, both pre- and post-retirement. The decisions you make before retirement critically impact your tax situation after retirement. But don’t dismiss the additional steps you can take within retirement to keep your taxes as low as possible. (This is especially important for a high net worth retirement, because the more money you have, the higher the taxes you’ll face.)   How is Social Security Taxed? Social Security benefits are subject […]   Read More
Date: March 8, 2021

How to Get Accurate and Realistic Retirement Projections

Decisions about retirement have both objective and subjective components. Generally, the objective components deal with your money – how much you’ll have and how much you’ll need. To get accurate and realistic retirement projections, you’ll also need to consider other factors, such as your age, health, debt and estate plans. On the subjective side is deciding when to retire, where to live after retirement, and what to do with yourself in retirement. Do you have family that you want to […]   Read More
Date: February 22, 2021

Do You Really Need a Financial Advisor? Investing Mistake #1: Not Considering Inflation!

As a financial advisor in Woodbridge, CT, as well as the founder and president of Heritage Capital, I see some of the same dangerous mistakes made by DIYers (and sometimes bad financial advisors) when putting together a financial plan. It is not properly factoring in the detriments of inflation. Inflation is a general rise in prices over time, which reduces your purchasing power. In other words, it cuts your standard of living. It’s been tame for years, but don’t be […]   Read More

New Year’s Resolutions: Using What We Learned From 2020 (And 1986)

The year 2020 will not soon be forgotten. For some, the market created significant new wealth. But for many folks, the year was terrible in terms of health and finances. Even so, it’s an ill wind that blows no good, so we would do well to pay attention to the year’s hard-learned lessons. Perhaps the best way to do this is to apply some new wisdom to our 2021 New Year’s resolutions. Another year worth studying is 1986, leading up […]   Read More

Does Your Retirement Plan Cover You for Life?

One factor that can complicate your retirement planning is not knowing how many years your retirement will last. While no one can know for sure, if you haven’t considered your realistic life expectancy, you risk shortchanging your later years or even running out of money. According to the U.S. Census Bureau, the average length of retirement is 18 years. People retire at age 63 on average, and a general life expectancy is 81 years. That means a typical retirement plan […]   Read More
Date: December 7, 2020

Why People Don’t Participate in Their 401(k) Plans … And Why That’s a Big Mistake

Here’s a shocking statistic: In 2018, almost 30 percent of private sector workers with access to a 401(k) or similar plan did not participate. Here’s another one: About 20 percent of participants don’t take full advantage of their employer’s matching program. As the founder of Heritage Capital, this boggles my mind. Failure to fully take advantage of a 401(k) is truly a big mistake and can mean a shortfall of hundreds of thousands of dollars at retirement time. Why are […]   Read More
Date: November 17, 2020

Are You Part of this Retirement Statistic?

I read recently that only 40 percent of Americans have calculated how much they need to save for retirement. That statistic is shocking! Knowing how much to save now can seem mysterious, but it really shouldn’t be. How do you reach a goal if you don’t know what to do to get there? This is a fundamental step for any goal, but retirement may be the most important one you have. Living comfortably when you no longer receive a paycheck […]   Read More
Date: November 2, 2020

5 Reasons Baby Boomers Need a Financial Advisor

Nearly 20 percent of Americans are Baby Boomers, born between 1946 and 1964. Many Boomers have already retired, while the remainder have reached or are approaching retirement age. The common challenge shared by most Boomers is how to adequately fund their retirements so that they don’t outlive their money. At Heritage Capital, we work with clients at all stages of their financial journey. And, while just about everyone can benefit from working with a financial advisor, Baby Boomers have specific […]   Read More
Date: October 19, 2020

Important Retirement Ages

Your retirement benefits are a critical component that determine your quality of life in your Golden Years. You’ve got important decisions to make before and after your retirement date that directly impact your benefits from Social Security and your retirement accounts. Overlooking a few important dates lead to some of the biggest retirement planning mistakes we see made – mistakes that could have easily been avoided. So, open up your calendars and mark down the 8 key dates we highlight […]   Read More
Date: October 6, 2020