Healthcare Costs in Retirement
In a 2022 survey, 35% of all workers reported they were either “not too” or “not at all” confident that they would have enough money to pay for their medical expenses in retirement. Regardless of your confidence, however, being aware of potential healthcare costs during retirement may allow you to understand what you can pay […]
Important Birthdays Over 50
Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re closer to the next age than the last. When you are older, “and-a-half” birthdays start making a comeback. In fact, starting at age 50, several birthdays and “half-birthdays” are critical to understand because they have implications regarding […]
Term vs. Permanent Life Insurance
According to industry experts, most people don’t have enough life insurance. The American Council of Life Insurers recently reported that average coverage equals $183,780, which is equivalent to approximately 3.5 years in terms of income replacement (with the median income being $54,132 in 2022, according to the Bureau of Labor Statistics). That’s only half the […]
Your Emergency Fund: How Much Is Enough?
Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up on a first-name basis with the nurse at urgent care. Then, as you’re driving to work, you see smoke coming from under your hood. Bad things happen to the best of us, and […]
Understanding FDIC Insurance
It’s natural to wonder exactly how a bank safeguards your money. Fortunately, the Federal Deposit Insurance Corporation (FDIC) insurance exists for this very reason: to help protect your funds once deposited. Read on to explore the purpose of FDIC insurance, how it works, and what it covers. What Is FDIC Insurance? The FDIC is an […]
SECURE Act 2.0: An Overview
In the final days of 2022, Congress passed a new set of retirement rules designed to facilitate contribution to retirement plans and access to those funds earmarked for retirement. The law is called SECURE 2.0, and it is a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed in 2019. The […]
A Meal for All Generations
Social Security: By the Numbers
Here are five facts about Social Security that might surprise you. Transcript: Social Security has been a fact of retirement life since 1935, but how much do you really know about it? Here are five facts that might surprise you. 1: The social security trust fund exceeds the gross domestic product of every country in […]
Preparing for the Expected
As Teddy Roosevelt once observed, “Old age is like everything else. To make a success of it, you’ve got to start young.” The challenges seniors have met throughout their lives have made them wiser and stronger, preparing them for the unique challenges that come with aging. As we age, the potential for cognitive decline increases, […]
Where is the Market Headed?
We all know the stock market can be unpredictable. We all want to know, “What’s next for the financial markets? Transcript: We all know the stock market can be unpredictable, and after the COVID-19-related drop in 2020, some may tend to overreact when prices become volatile. We all want to know what’s next for the […]