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Important Updates to Social Security in 2025
As we approach 2025, the Social Security Administration (SSA) has announced several important changes to the program that will affect millions of beneficiaries. These updates are designed to keep pace with the changing economic landscape and ensure that retirees and other recipients can maintain their quality of life. Here's a comprehensive look at the four major changes coming to Social [...]
Differences Between Traditional and Roth IRA
When it comes to planning for retirement, Individual Retirement Accounts (IRAs) are a popular investment option. There are two main types of IRAs: traditional and Roth. Both have their own unique features, advantages, and drawbacks. In this article, we will explore the key differences between a traditional and a Roth IRA. Tax Treatment One of the main differences between a [...]
Retirement Planning Refresher: What Retirees Need to Know About SECURE Act 2.0
The SECURE Act 2.0, signed into law in late 2022, brought significant changes to retirement savings and planning—namely, the rules around how retirement accounts work and can be used. As a retiree or someone approaching retirement, understanding these changes is crucial for optimizing your financial strategy. Let's explore some key aspects that may directly impact you. Required Minimum Distributions (RMDs) [...]
Back to the Basics of Retirement Accounts
Retirement accounts are a cornerstone of today’s retirement strategies. While everyone might recognize the terms “IRA” or “401(k),” it’s important to familiarize yourself with how they work so you can understand how they may play a role in your own retirement strategy and timeline. Once you approach retirement, there are so many ways you can use these types of accounts, [...]
7 Ways to Celebrate Financial Planning Month
October is recognized as Financial Planning Month, an annual event dedicated to planning for an independent financial future. Whether you're a novice or knowledgeable in finance, assessing your finances and goals is always beneficial. This yearly event provides the perfect opportunity to reflect on spending habits, saving, investment strategies, and overall financial health. It allows us to rethink our financial [...]
Navigating Market Volatility: What Retirees Should Know About August’s “Japanese Carry Trade”
In August of 2024, the financial world was abuzz with discussions about the Japanese carry trade and its impact on global markets. For retirees and those nearing retirement, understanding these developments may help you understand why markets are moving, but it's equally important to maintain a focus on long-term financial security rather than reacting to short-term market fluctuations. Regardless, the [...]
A Recent History of Federal Reserve Policy
The past quarter century has held times of economic prosperity and crisis in this country. Because your retirement hinges on your financial options and decisions, the economic health of certain parts of the financial world can dictate if and how you struggle, survive, or thrive in retirement. As such, it's arguable that no other institution has as much of a [...]
The Role of Life Insurance in Estate Planning
Have you ever considered how your loved ones will be taken care of after your passing? The answer lies in estate planning and life insurance. When effectively combined, these components offer invaluable financial support to your family and friends. Understanding how to integrate both into a comprehensive plan is key. This guide will help you get started with life insurance [...]
