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Is It Time to Refresh Your Annuity? Here’s Why You Might Consider It
Annuities have long been a cornerstone for those seeking a steady income stream in retirement. However, the financial landscape is ever-evolving, and what worked a few years ago might not be the best fit today. With rising interest rates, inflation concerns, and innovative annuity products entering the market, now might[...]
How to Support Your Aging Parents Without Sacrificing Your Financial Stability
Supporting your aging parents is one of the most meaningful things you can do—but what happens when their financial needs start to clash with your own? The last thing you want is to jeopardize your own future while trying to help them. Fortunately, with some careful planning, you can strike[...]
Is a Roth IRA Conversion in Your Future?
Retirees aiming to reduce their taxes in retirement can benefit from strategic conversions and transfers between traditional and Roth Individual Retirement Accounts (IRAs), especially when considering the timing and financial landscape. Identifying optimal windows for Roth conversions can lead to significant tax advantages and may enhance retirement income. Here are[...]
3 General Financial Myths That Could Still Cost You in Retirement
In 4 Retirement Planning Myths That Could Cost You, we tackled some of the most common financial myths that could be costing you money. In this article, we’re going to debunk three more myths about general personal financial management that could still have an impact on your retirement. Myth 1:[...]
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Federal Employee’s Guide to Retirement
A Foundation For Your Retirement Life
Your financial strategy is the foundation of your retirement life. However, it can be difficult and complex to keep up with the changing financial landscapes, laws, and regulations, especially if you’ve been a federal employee and have worked for the government throughout your career.
Why 59 1/2 is an Important Age
Prepare for 59 1/2
You’re nearing your 60th birthday, which doesn’t seem as significant a milestone as the moon landing or important birthdays like 16, but that’s where you’re wrong! Turning 59 ½ is almost as exciting as when you turned 16 and could drive because at 59 ½ you can withdraw from your retirement accounts without incurring a penalty. Hopefully you’ve been taking advantage of the ability to contribute extra money to your retirement accounts since you turned 50. You’re also nearing the age at which you’re eligible for Social Security benefits and Medicare. Keep reading to learn about your retirement options and how you can successfully transition into retirement.
A Short Introduction to Long-Term Care
Your Guide to Long-Term Care
If you know someone who takes care of their parents or if you’ve done it yourself, you know how stressful it can be. Now, think about a time when you might need that same care. Even if your family members are nearby and can help you around the house as you get older, they might not be able to provide you with all the care you need. That’s why having a long-term care strategy can help give you and your family peace of mind and help lessen the burden of an unexpected expense.
Social Security Guide
Optimizing Social Security In Today’s World
Social Security planning is one of the most important elements in any retirement plan, but getting the most from your Social Security benefit can also feel complex and frustrating. In our guide, “Optimizing Your Social Security in Today’s World,” you’ll uncover practical tips and easy-to-understand steps to get the most out of your Social Security benefits.
Replacing Your Paycheck in Retirement
Your Guide to Replacing Your Paycheck in Retirement
If you’re preparing for retirement or looking for more financial stability, you’ve likely thought about how your retirement savings can be used smartly to cover your costs and maintain your lifestyle. It’s normal to fear running out of money in retirement, given that you are done with your working life and are turning to your own source of savings and wealth for your financial security. But there are ways you can replace that steady paycheck that used to be the bedrock of your financial life by applying your savings to certain income-focused financial strategies.
Your Guide to Replacing Your Paycheck in Retirement
Your numbers can help determine next steps
Personal Planning Services we always plan by the numbers. The calculators below are a great tool to begin a conversation about where you are today and where you want to be in the future.