How to Manage Withdrawals Throughout Retirement

Retirement is a period of life during which one enjoys the fruits of one's years of labor. It's an opportunity to enjoy a permanent vacation, soaking in the sun, and relishing summer days at leisure. The key to retiring like being on a constant vacation lies in meticulous and strategic planning. Here's how to do it.

Planning for retirement often raises one crucial question: How much should one withdraw each year during retirement? Managing withdrawals may significantly impact the longevity of your retirement funds. Managing withdrawals aims to strike an equal balance between enjoying your retirement and ensuring your savings last throughout life.

As we begin the New Year, it is crucial to plan one’s financial goals strategically. Preparing is always beneficial, given the uncertainties of an evolving global economy and fluctuating markets. Here are ten things to consider when planning New Year's financial goals.

Achieving financial freedom is a goal that many of us desire, but some might believe is too far away to reach. It's a daunting task, especially when bills pile up, cost of living increases, and we bury ourselves in debt.

As the landscape of our economy shifts and evolves, so do the policies and practices that guide our federal programs. One such program that undergoes continual alterations and modifications is Social Security.

Establishing financial wellness is a personal, ever-changing state of being that enables one to exercise choice while feeling in control of finances.

The real rate of return is an important personal finance concept to understand. It’s the rate of return on your investments after inflation. The real rate of return indicates whether you are gaining or losing purchasing power with your money. So if inflation

In February 2018, Jerome Powell was appointed as Chair of the Board of Governors of the Federal Reserve System. He became the 16th chair to take over the helm of the world’s most influential central bank.

The city of Detroit emerged from bankruptcy in 2014. Still, its previous inability to pay investors left some questioning their long-held assumption about the relative safety of municipal bonds.

The Social Security Administration has again approved a cost-of-living adjustment (COLA) for Social Security benefits starting in January 2021. The increase of 1.

2020 has been a year unlike any during our lifetimes with the COVID-19 pandemic and a poor economy. Many have been impacted with lay-offs and job losses and realize they were unprepared financially.

“If the current annual inflation rate is only 2.3 percent, 1 why do my bills seem like they're 10 percent higher than last year?

COVID-19 has changed everything from our jobs to school learning and shopping and how we plan for retirement.

As 2020 comes to an end, more and more Americans are contemplating their decision to retire. Others are tapping their retirement savings, while some save more due to the economic fallout and impacts of COVID-19.

Americans are starting to see the impact of increasing prices at the supermarket and the start of inflation. Also, clothing at retail stores is depleting as manufacturing has halted, creating demand for products ordinarily accessible.

Review your saving and spending habits and assess what you can do to save more this year. Definition of Savvy: having or showing perception, comprehension, or shrewdness especially in practical matters.

If you have multiple or only a few retirement ‘nest eggs,’ now is an excellent time for us to discuss how taxes will impact you this year or in the future.

In November 2019, the Internal Revenue Service (IRS) announced the cost of living adjustments for 2020 for most retirement savings plans. However, IRA contribution limits will stay the same.

Social Security Retirement benefits are set to increase in 2020- a modest 1.6% increase for the average retired worker that adds an extra $24 per month to their retirement check. Retired couples will see their combined benefits grow to $40 per month.

Interest rates can have a positive or a negative effect on the U.S. economy, the stock markets, and your investments.