Retirement plans play a crucial role in ensuring long-term financial security for many individuals. Understanding these plans can be tricky, especially with the myriad of options available. Two common employer-sponsored retirement plans are the 401(k) and 403(b). While they share some similarities, they cater to different types of employees and have some key differences. Let’s […]
Managing Stealth Retirement Expenses Take a look at some potential financial surprises in retirement – and how you can prepare for them. In 2020, the Society of Actuaries surveyed retirees, reporting unforeseen expenses that had hit them in retirement. Nineteen percent of retirees said they experienced four or more financial surprises. Twenty-four percent of retired […]
While painful to contemplate, death is nonetheless a fact of life for which we all need to prepare. The death of a spouse brings its unique kind of grief, along with a list of tasks that must be completed, often within a specific time frame. One of the first things a surviving spouse must do […]
What Method Should You Choose to Pay Off Your Debt? “10 percent of the people in this world use debt to get richer. 90% use it to get poorer.” -Warren Buffett Getting rid of a debt at any time is a great idea. After all, carrying a heavy debt is known to cause various psychological […]
What is Medicare annual enrollment? Medicare annual enrollment is the period each year when Medicare current beneficiaries can make changes to their coverage. The annual enrollment period opens on October 15 and closes on December 7. During this time, you may shift from one Medicare Advantage Plan to another or discontinue your Medicare Advantage Plan […]
“In today’s insane economic environment, it’s easy to be lured into risking your savings by chasing after returns. If you’re close to retirement, keep calm and focus on your long-term objectives.” – Tim Davis If you’re a few years from retirement, you’ve lived long enough to know there is a tradeoff between risk and reward. For […]
For many of us, the years spent working are all about chasing the next career opportunity or building our businesses. We’re taught to focus on maximizing our earnings and saving for the future, which is essential. But what happens when retirement finally arrives? After years of saving and being good stewards of our money, retirement […]
“Although deflation is historically a less common occurrence than inflation and tends to be less erosive to retiree wealth, those who still have a few years before retiring should take adequate precautions.” Tim Davis, CLU, CEBS There is a lot of justifiable concern surrounding inflation, especially in the wake of the COVID-19 pandemic. Indeed, inflation […]
“The COVID-19 pandemic and ensuing economic downturn took pretty much everyone by surprise. Are you ready for the next crisis?” Tim Davis Most Americans were caught off-guard both by the swiftness with which the COVID-19 pandemic arrived and the economic disaster it birthed. While we are just beginning to see some of the consequences of […]
Like most people, I have found myself challenged by the fallout from the COVID-19 pandemic. The social consequences are genuine, and so is the financial impact as millions of Americans face economic hardship and uncertainty. – Tim Davis, CLU, CEBS As is the case with most of life, each hardship and challenge contains lessons to […]
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