How a 2023 Recession May Impact the Elderly
As the economy continues to show uncertainty, many people are asking themselves how a potential recession in 2023 may impact their finances and future plans. This is especially vital for the elderly population: People living on fixed incomes are facing heightened levels of financial concern alongside retirees-to-be with fewer working-age years left before retirement age. Even financially independent families and individuals should be aware of the potential risks posed by a 2023 recession. It’s vital to understand which actions taken […]
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Date: March 30, 2023
How to Recession-Proof Your Retirement Savings
A lot of people have been Googling, “are we headed for a recession?” This is because a growing number of people in the financial industry see a recession this year as inevitable. Opinions vary as to how long it could last or how severe it’s likely to be, but nearly everyone agrees that it’s happening. At this point, it’s more of a question of “how soon” than anything else. However, another good question may be, “Should I be concerned about […]
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Date: February 20, 2023
Why You Should Regularly Update Your Retirement Projections
Retirement planning is an important process that should become a lifelong habit, especially if you are a high-net-worth individual. Given today’s challenging economic and investment environment, it’s even more important to regularly revisit and refine your long-term projections and strategies. Otherwise, you’re driving blindly into the future. Keeping them up-to-date can help ensure that you are prepared for whatever uncertainties may arise in your post-retirement life. This is good because, unfortunately, car accidents, divorces, and lawsuits lack the courtesy to […]
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Date: January 9, 2023
Sole Survivor: How John’s Planning Supported Jill’s Retirement
Divorce is never easy, but it can be made easier—if you plan for it ahead of time. Believe it or not, you may still retire with confidence in Woodbridge. For example, let’s take a look at how a family working with their financial advisor got through a divorce without undue stress or hardship. We’ll also examine their situation before the split in order to see how they got through it afterward. This article discusses the following: How proactive planning can […]
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Date: October 28, 2022
How Inflation Affects Your Taxes in Retirement
Inflation is an inevitable part of life. It means that prices will increase over time, and (believe it or not), in some cases, that is good news. For example, inflation can help the economy grow more quickly and provides more opportunities for workers to raise their salaries over time. Sometimes it can help countries and individuals with high amounts of debt pay their creditors off more easily, as well. However, when it comes to retirement savings and taxes, even for […]
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Date: October 18, 2022
Should Your IRA Include Real-Estate Investments?
If you have a self-directed IRA, you can hold a variety of different investments, such as stocks, bonds, and mutual funds. In fact, this kind of retirement plan allows investing in all types of real estate, including commercial properties and residential homes. However, before you decide to pursue this option, let’s examine some of the pros and cons of utilizing your IRA this way. The following topics are discussed below: What is a self-directed IRA (SIDRA)? The differences between SIDRAs […]
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Date: September 29, 2022
Is Your 401(k) Taking on Too Much Risk?
People may envision themselves sitting on a beach and sipping Mai Tais when they think of retirement. This isn’t a bad image, but it isn’t complete—unless you have a plan to fund your golden-years income. I know what you’re thinking: “Retirement? Who cares about that? It’s so far away.” The problem is that if your 401(k) isn’t reviewed often enough, your future income could be significantly less than you are expecting to live on. So, let’s explore why it’s important […]
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Date: August 29, 2022
Make Like a Banker—Stress Test Your Retirement Strategy
You’ve probably heard of stress tests for banks. These are designed to anticipate (and thereby lessen the impact of) worst-case scenarios: What if a stock market crash happens? What if rates go up? But what about your retirement money? Similarly, you should also be thinking about how you would react to adverse scenarios, such as an unexpected medical emergency or the death of your spouse. A retirement stress test can help evaluate how well prepared you are for unexpected events […]
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Date: August 15, 2022
How We Helped Janice Create a Successful Retirement Plan
Janice was a new client who came to us to set up a retirement savings financial plan. She was 55 and wanted to retire in 10 years. Her investments for retirement were primarily in a 401(k) plan through her employer. She owned a lot of company stock. She also had an account at a major brokerage house and invested in an assortment of stocks, mutual funds, and bonds. Janice was unsure how that was working for her. She was thinking […]
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Date: July 26, 2022
6 Smart Strategies for High Net Worth Retirement Planning
High net worth (HNW) families such as yours face unique challenges, and opportunities, in the years leading up to retirement. You require sophisticated planning that addresses the complexities that inevitably accompany affluence, from tax strategies to estate plans. It’s critical to partner with the right professional financial advisor, someone with the knowledge and experience to customize solutions for your unique circumstances. And a friendly, caring attitude wouldn’t hurt, either. Here are six elements of an overall strategy that map out […]
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Date: July 14, 2022
