As the calendar turns to December, many of us will think more intentionally about ways that we can help others. This might include donating financial resources to a cause that is meaningful to you and your family. Making a Qualified Charitable Distribution from your IRA or using a Donor Advised Fund for charitable giving are two ways that could help you increase the amount you can give, save on taxes, or both.
Are you wondering if your current savings will be enough to support your future lifestyle in retirement? Use this ‘multiple of income’ table to gauge your retirement readiness and see if you’re on track.
The Bank of Mom and Dad is a prominent lender/gifter of funds to children for buying a home. Financial headwinds are strong for millennials and it is expected more than a quarter of first-time home buyers will get financial assistance from relatives.
As we age cognitive skills decline in varying degree. This dynamic process specifically impacts well-being and how society assimulates and protects seniors. Skills affected can include motor skill, the ability to learn new information, reaction time and memory. Reviewing the ways in which cognitive aging could affect individuals provides useful insight for policymakers, financial planners, career counselors and the individuals themselves.
Social Security’s surplus is turning to a deficit. We discuss what’s happening with the trust funds that back up the system and suggest steps you can take to boost your income in retirement.
A retirement survey (Aegon Retirement Readiness Survey 2018) published this week demonstrated that many people are not prepared to accept a bigger role with the financial side of retirement and are worried about the consequences of deteriorating health as they age retirement. We knew financial literacy was a problem and appreciate concerns about the emotional and physical effects of aging.
When we act as a steward we actively direct affairs and take responsibility. As a steward of the land, a forester develops and executes tree management plans to ensure a healthy ecosystem. In financial situations, a steward cares for assets and works to ensure the future. Stewardship responsibility is often taken on as a moral duty. Acting as a financial steward will help you, your family and future generations work for better outcomes. Here are five characteristics a financial steward should embrace:
Last week, we shared words of wisdom from investment industry great George Jenrette. The final quote on Jenrette’s list was: “look for the big picture but don’t forget the small details.” When it comes to investing, we often find that people have a reasonable view of their own big picture – that is, where they are trying to get to over the long term. The details, however, are another matter. Following time-tested guidelines can help you sort through some of the details and improve your investment outcomes.
How do you know if your retirement savings program is on track? Can you tell if your investments are doing what you need them to do? One way is through appropriate benchmark selection and performance monitoring.
Way back in the 1970s, there was a TV commercial that had the tagline: “When EF Hutton talks, people listen.” That was a good way to characterize what went on yesterday, as Jerome Powell, the new Chairman of the Federal Reserve, gave his first press conference. A lot of people were listening to the central bank chief because what the Fed says often has real-world consequences.