Bank scams are on the rise. There are five common tricks of fraudsters. Did you get a call, email or message saying there is an issue with your account and you need to move money to resolve it? Are you being pressured to act fast or keep it secret? Did someone ask you to deposit […]
Sometimes as we are in the midst of our retirement years, we need to have a serious heart-to-heart with our adult children. That conversation can often begin by explaining that not every decision you make will look the way they would personally choose to handle things, but that does not mean it is uninformed or
The last thing you need to worry about when you retire is losing your sense of purpose. Staying mentally and socially engaged matters more than most people expect. Health tends to outweigh wealth, so maintaining routines that support physical and cognitive well-being becomes critical. Many retirees underestimate how important structure is even when they no
Staggered retirements are more common than you might think, especially when couples are different ages. A two-phase retirement can affect both you when it comes to your savings and spending needs. It’s important to think ahead about how you’ll both plan for and handle these impacts. There are differing and varied options that may fit
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If you are mulling over in your mind your list of tangible assets, savings accounts, and creating your will, you may be trying to determine that trifecta question of how to be able to keep what you have in your name, have access to income, but still leave something as a legacy to your heirs.
It is not surprising that people tend to compare their financial situation during retirement to others, because money is highly visible in life: through homes, cars, travel, and lifestyle. So it becomes an easy benchmark for perceived success. However, not only do these comparisons rarely reveal the full picture of someone’s debts, obligations, goals, or
When you withdraw your first RMD may impact your taxes. You may wonder how that can happen, and with tax season approaching, we thought it best to draw your attention to a nuance you may not be aware of. Typically, you have until December 31 to take your full distribution—or if you’re taking your first