7 Steps to Help You Plan for Retirement

Wealth preservation is essential for many individuals but warrants a specific focus for those nearing retirement. Understanding the complexities of wealth preservation is crucial, particularly for pre-retirees.

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.

If you plan to ‘age in place,’ it’s important to discuss your intention with your family and financial advisor now to prepare for and make it possible. The U.S. population continues to age, with the baby boomer generation now the largest generation ever.

The demographics of retirement and a ‘retired person’ is rapidly changing worldwide. Over the past 200 years, there have been remarkable changes in health and wealth around the globe.

Due to the duration risk of holding assets over time, a normal yield curve shows that bonds with a longer maturity have a higher yield and pay more interest than short-term bonds.

Over the next twenty years, there will be a wealth transfer that exceeds $30 trillion as the Baby Boomer generation passes the remainder of their wealth to the Millennials and subsequent generations.

Taking Social Security Benefits can be a guessing game unless you do your research to figure out what age to take benefits the best for you.  Do you receive benefits at the earliest age or wait until your full benefit age?

The ability for a business to offer a 401(k) plan is often seen as the benchmark of a large, successful company.

If you’re not familiar with Filial Laws, it’s time you take notice of what they are and how these laws can impact your financial future.

If you’re approaching retirement in the next fifteen to twenty years, it may be time for you to focus on saving more.  Playing ‘catch up’ by contributing more can make a big difference.  It’s never too late even if the time line is getting closer.

Do You Need Long-Term Care Insurance? As Baby Boomers age, one of the planning decisions that needs to be made is how to go about providing for their long-term care needs.