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.
A recent AARP focus group study* sheds light on the concerns of women aged 50 and up, revealing a common sense of financial stress, uncertainty about the future, and dissatisfaction with systems designed to help them. Across political affiliations and age groups, participants described dealing with rising costs, health-care challenges, caregiving responsibilities, and concerns about
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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
Money can be a sensitive topic, but avoiding it often leads to confusion, stress, or misunderstandings. Many families find that setting aside intentional time to talk about finances can strengthen relationships and create clarity around goals, responsibilities, and expectations. Whether your household is planning for your retirement, saving for major milestones, or discussing inheritance plans,
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Selecting a senior living community is an important choice that can significantly affect physical well-being, emotional stability, and overall quality of life. Whether you’re planning your own move or assisting a loved one, it’s essential to look past surface details during the decision-making process. Understanding the different types of senior living options—and assessing both obvious
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It is not surprising that the thought of retiring is overwhelming to many due to major life shifts. This could include financial uncertainty, loss of identity, and lack of structure. Studies show that high anxiety regarding outliving savings and maintaining one’s lifestyle is one of the more common reactions to anticipating retirement. We can help
One of the most difficult challenges when planning for retirement is dealing with uncertainty. Markets fluctuate, tax laws change, healthcare costs rise unexpectedly, and, perhaps most difficult of all, no one knows how long they will live for. However, longevity—the number of years a person can spend in retirement—is one of the most critical assumptions
Traditional IRAs, 401(k)s, and other retirement accounts enable you to save money tax-deferred. But, eventually, the IRS requires you to begin withdrawing a portion of your savings each year. These withdrawals are known as required minimum distributions, or RMDs, and the amount you take out is taxed at your regular tax rate. Understanding the 2025
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There is no one “ideal retirement.” But there are many ways to have a happy retirement if you have reflected on the choices you have, and what you are willing to leave to chance. The way you answer the following questions may help you decide what may need more thought before you begin your retirement:
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