Monthly Archives: September 2020

27 09, 2020

How Could the Outcome of the Election Affect Social Security?

2020-09-27T20:40:04-07:00September 27, 2020|Social Security|

Regardless of who wins the election, Social Security will surely remain a hot button issue. The program currently pays out more than it takes in, and this trend is likely to continue. The Social Security trust fund was projected to run out in 2035, at which point about 79% of benefits would be payable.[1] However, that projection was made before the pandemic and increased unemployment hit. President Trump and Presidential Candidate Joe Biden have different ideas for how to change the program, and the outcome of the election could affect Social Security. The Financial State [...]

25 09, 2020

How to Recognize a COVID-19 Scam

2020-09-25T19:07:36-07:00September 25, 2020|Fraud Protection|

Online scams have been on the rise since the start of the COVID-19 pandemic, and new kinds are popping up. Scammers tend to target older adults, especially those more vulnerable to the virus. Many scams use fear and panic to make the victim act quickly without thinking first. That’s why it can help to know the signs of a scam before you’re confronted with one. Here's how to recognize a COVID-19 scam. Fake Products Some of the most common COVID-19 scams online advertise supposed cures or test kits. Websites may offer products that claim to [...]

20 09, 2020

3 Options for Your 401(k) When Leaving Your Job

2020-09-20T20:47:11-07:00September 20, 2020|401K, Financial Planning, Income Planning, Retirement Planning|

If you’ve ever left a job, you may have had to decide what to do with your old 401(k). You might have rolled it over into a 401(k) at your new job or even forgotten about it when you were younger. But if you’ve recently lost your job, retired, or left your job for another reason, you may be wondering how to make the most of your 401(k). There are many options, and the right one depends on your age, retirement goals, and overall financial situation. To start, here are three options for your 401(k) [...]

18 09, 2020

How America’s Aging Population Will Shape the Future

2020-09-18T07:40:58-07:00September 18, 2020|Lifestyle, Retirement|

By the year 2035, Americans 65 and older are expected to outnumber those under 18 for the first time in our country’s history. In just 10 years, people over 60 will make up the largest consumer market segment and hold a majority of the wealth. In a culture that tends to glorify youth and doesn’t know how to handle the problems older Americans face, this will mean some major changes. Here’s how America’s gaining population will shape the future. Less Negativity Towards Aging, More Celebrating As America’s consumers' age, advertisers and marketers will have to [...]

14 09, 2020

3 Trends to Keep an Eye On When Planning for Retirement

2023-12-19T21:01:09-08:00September 14, 2020|Retirement|

If you’re just trying to get through the present, you’re not alone. But, that doesn’t mean you can forget to look to the future and prepare for challenges you could face. There are indications that we could see higher taxes in the future, more market volatility, and continuing low interest rates. Here are three trends to keep an eye on when planning for retirement. A Large National Debt New data from the Congressional Budget Office shows that the national debt is expected to be greater than the size of America’s economy[1]. This hasn’t happened since [...]

11 09, 2020

Wise Words About Aging

2020-09-11T20:25:24-07:00September 11, 2020|Psychology|

Our culture is very youth-focused, but we all instinctively feel reverence for people who have experienced much and gained wisdom from their long years. A positive attitude towards aging can go a long way towards finding happiness in retirement by giving us something to look forward to. Here are some wise words about aging. "How old would you be if you didn't know how old you were?" -Satchel Paige Satchel Paige played professional baseball in the Negro Leagues for years before being allowed to play in the Major League at age 42. He was the [...]

7 09, 2020

3 Reasons Why Your Tax Burden Could Increase In Retirement

2020-09-07T21:48:55-07:00September 7, 2020|Tax Planning|

Most people assume that their tax burden will dramatically decrease in retirement once they stop receiving a paycheck, but this isn’t always true. A high tax bill is one retirement risk to be aware of and to try and mitigate. We may be experiencing relatively low taxes right now, but a change in leadership in Washington and a growing national debt could change that. Let’s look at 3 reasons why your tax burden could increase in retirement. Required Minimum Distributions Distributions from traditional retirement accounts such as IRAs, 401(k)s, 403(b), 457, and thrift savings plans [...]

4 09, 2020

Motivate, Don’t Procrastinate

2020-09-04T15:16:29-07:00September 4, 2020|Lifestyle, Psychology|

They say there are people who watch things happen, people who make things happen, and people who say, “what happened?” You certainly don’t want to be the last kind, and it's not so great to be the first kind, either. But distractions can get in the way, and the best of us procrastinate. COVID-19 may have canceled some of your plans, but it doesn’t mean you should forget about your long-term goals. If you want to be the kind of person who makes things happen, consider these tips to motivate yourself instead of procrastinating. Divide [...]

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