A few weeks ago, I was talking to my friend Jim*, and he was venting about a problem he had with his Social Security check at the beginning of the year. Jim said he didn’t receive a check during the first few months and he couldn’t understand the explanation the Social Security Administration (SSA) gave …
Understanding the Social Security Earnings Limit Read More »
At the close of 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, providing a significant update to rules governing retirement accounts in America. Part of the law changed the distribution rules for inherited IRAs. Our clients learned that the “stretch” distribution option (allowing a person who inherited an IRA to extend …
When most of us take a trip, we make a plan so we can enjoy the journey. When you hop into the car for a drive, how much more scenery do you take in when you know where you going as opposed to anxiously guessing where the next turn will be? A key part of …
I frequently describe retirement as the time of your life when you have both the time and resources to live the life you want to live. I like this description because it captures the optimism of this period. We all understand that we are closer to the end than the beginning, so it is only …
“Well, when events change, I change my mind. What do you do?”-Dr. Paul Samuelson Investment risk is a topic that worries most of us, especially when we go through life changes or market corrections. We know we need to change our retirement portfolio’s investment risk over time, but it is not for the obvious reason. …
The human race has accomplished a lot: Our ancestors developed tools and agriculture. Prior generations created beautiful works of art and magnificent structures. In the last 100 years, we have traveled to the moon, gone to the deepest parts of the oceans, and split the atom. Yet despite all these successes, we are still heavily …
Sticking to the Plan – Doing Nothing is Doing Something Read More »
As much as our clients do, we enjoy exploring the optimistic portions of retirement income planning. It’s exciting to think about the possibilities ahead. With minimal hyperbole, we describe entering retirement as the second biggest opportunity (after leaving school/entering adulthood) to define your future. Regretfully, part of the planning process necessitates addressing the possible risks …
Retirement can be the best time of your life. We often point out it is the time of your life when you have both the time (unlike when you are working) and the money (unlike when you are growing up) to do the things that are important to you. In fact, when new clients are …
Planning IN retirement is not the same as planning FOR retirement. Once you quit the rat race, you generally have a different set of concerns than when you were working. And even when the same concerns do remain, the solutions, many times, are different. Planning for retirement revolves around building up your assets, whereas the …
“I have to admit, at first, it was really overwhelming, and I would get stressed about putting things together. Now, it’s like trying to figure out a puzzle piece, and I love that.” – Selena Gomez Planning for retirement is easy. Well easier than planning in retirement, at least. When saving for retirement, “all” you …
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Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and American Financial Management Group (AFMG) are separate entities.