Maintaining a consistent savings routine throughout your career will ensure financial stability in your later years. If your employer doesn’t offer a 401(k) plan for retirement savings, you can turn to an Individual Retirement Account (IRA) as an alternative. Chances are, you might already have an IRA, ideally with a substantial balance. Regardless of whether … Read more
As 2024 nears its conclusion, the festive season is on the horizon, reminding us that there’s limited time left to achieve this year’s retirement savings target. If you have an IRA, you can contribute until the 2024 tax deadline for 2024 contributions. However, those with a 401(k) must make their 2024 contributions by December 31. … Read more
A 401 (k) is a crucial tool for building wealth during retirement. Elective salary deferrals and employer matching contributions can fund a defined contribution plan, both of which benefit from tax-deferred growth. When you retire, these savings can become a primary income source. If your 401(k) isn’t providing the returns you want, what should you … Read more
As the economy, inflation, and Social Security concerns grow, many Americans face challenges in saving for their future. CBS News reports that 50% of women and 47% of men aged 55 to 65 have no retirement savings at all. Despite the widespread lack of preparation for retirement, it’s crucial to start saving now to ensure … Read more
Retirement is a significant life transition that requires careful planning and consideration. For many, the decision to retire is complicated and involves financial and personal factors. While some individuals may eagerly anticipate their retirement, others may be hesitant or unsure about when they are ready to make this major life change.
Discover the optimal time to start estate planning and the ideal starting amount to secure your financial future and provide for your loved ones.