Retirement Planning Archives

22 05, 2023

Target-Date Funds: The Backbone of Many Retirement Accounts
Target-Date Funds: The Backbone of Many Retirement Accounts

Target-Date Funds: The Backbone of Many Retirement Accounts

BML Wealth Marketing2023-06-08T22:13:31-07:00May 22, 2023|Investing, Retirement Planning|

A target-date fund is an investing tool, often in the form of an ETF or mutual fund, that adjusts its investment strategy based on how much time there is until the target date. The investments are strategized for long-term growth when you are further away from the target date and strategized for wealth preservation the closer you get to it. Another name for these kinds of funds is age-based funds and life-cycle funds, and they are structured around the financial needs of someone aiming to save for retirement.[1] The major benefit of target-date funds is [...]

10 05, 2023

What Happens to Inherited Retirement Accounts?
What Happens to Inherited Retirement Accounts?

What Happens to Inherited Retirement Accounts?

BML Wealth Marketing2023-06-08T22:19:10-07:00May 10, 2023|Investing, Retirement Income, Retirement Planning|

You may know plenty about the differences between traditional IRAs and Roth IRAs, as well as the risks to your IRAs in this market, but what happens to an IRA (or other retirement account) that still has money in it when its owner passes away? You may think that the beneficiary just gets all the money in the account, but unfortunately, it’s not that simple. Retirement account funds will be transferred to a beneficiary, but their relationship to the owner is what determines how they can access the money and what they can do with [...]

17 04, 2023

What if 1 Million Dollars Isn’t Enough to Retire?
What if 1 Million Dollars Isn’t Enough to Retire?

What if 1 Million Dollars Isn’t Enough to Retire?

BML Wealth Marketing2023-06-08T22:28:20-07:00April 17, 2023|Income Planning, Retirement Income, Retirement Planning|

If you are headed toward retirement soon, or you have just retired, you may find yourself wondering, "Is my nest egg enough?" It's a common question and one that causes a lot of people a lot of reasonable anxiety. Because retirement finances are much more about prediction than they are about facts and assurances, it can be hard to feel confident that you will have enough to carry you through your entire retirement. As you know, medical expenses, long-term care, housing repairs, and other unpredictable costs are just a part of life, so how can [...]

3 04, 2023

Navigating Retirement as a High-Net-Worth Individual
Navigating Retirement as a High-Net-Worth Individual

Navigating Retirement as a High-Net-Worth Individual

BML Wealth Marketing2023-06-08T21:14:43-07:00April 3, 2023|Financial Planning, Retirement Income, Retirement Planning|

For high-net-worth individuals and families, retirement is a significant shift. A high-net-worth individual, also known as an HNWI, is typically someone with at least $1 million in cash or assets that can be easily converted into cash, including stocks, bonds, mutual fund shares, and other investments.[1] As an HNWI, you may not be too worried about depleting your funds in retirement, but there are many complexities that come into play that can eat away at your wealth faster than you think. Let's discuss a few tips and tricks that can help you make the most [...]

27 03, 2023

Current Market Risks and Your Retirement
Current Market Risks and Your Retirement

Current Market Risks and Your Retirement

BML Wealth Marketing2023-06-08T21:25:10-07:00March 27, 2023|Economy, Retirement Planning, Stock Market|

Our current economic situation is complex and, in some ways, unprecedented. Because of the pandemic, we have seen massive changes in how the market behaves, and we are having to readjust how we approach retirement planning. Government Payouts One of the major changes that we saw during the pandemic was the government directly stepping in to help with the economic downturn. The issue with this is that federal payouts can increase inflation, and when that is coupled with the constant creep of normal inflation, the situation can get out of hand quickly.[1] Suddenly the everyday [...]

11 03, 2023

Putting Together the Puzzle Pieces of Retirement Planning
Putting Together the Puzzle Pieces of Retirement Planning

Putting Together the Puzzle Pieces of Retirement Planning

BML Wealth Marketing2023-06-08T21:26:22-07:00March 11, 2023|Retirement Planning|

Over the course of your life, you have probably acquired several different retirement accounts, and you have likely considered many kinds of retirement strategies. The key now, if you have recently retired or you are about to retire, is to start putting those different pieces together to form a complete picture of what you have and what you may need going forward. 401(k) This is the most common kind of retirement account. It’s held jointly between you and your employer and contains contributions from you both, and it consists of stocks, bonds, mutual funds, and [...]

6 03, 2023

Will Your Retirement Savings Be Enough?
Will Your Retirement Savings Be Enough?

Will Your Retirement Savings Be Enough?

BML Wealth Marketing2023-06-08T21:27:46-07:00March 6, 2023|Retirement Income, Retirement Planning|

Are you unsure of how much money you will need in retirement? This is a very common concern for Americans as they approach retirement age. This blog will give you some tips on how to begin estimating your needs in the future, as well as some tips on how to increase the longevity of your savings. How Much Should I Spend? One of the easiest ways to judge how much money you will need in retirement is to take stock of how much money you need right now.[1] Track your expenses and see how much [...]

9 01, 2023

2 Ways the 2022 Economic Woes Affected Your Retirement Accounts
2 Ways the 2022 Economic Woes Affected Your Retirement Accounts

2 Ways the 2022 Economic Woes Affected Your Retirement Accounts

BML Wealth Marketing2023-02-09T01:38:11-08:00January 9, 2023|Economy, Retirement Planning|

The 2022 economic climate has been bumpy for most and, in some cases, even bumpier for retirees. Americans and the world at large dealt with the economic ramifications of the Russia-Ukraine war, post-pandemic industrial effects, and rising inflation and interest rates. As the year ends, it's important to understand how these economic factors may have affected your finances as a retiree. Inflation Pinched Pockets Between 1991 and 2021, annual inflation averaged 2.5%, close to the Federal Reserve’s desired 2% target, which many believe to indicate a healthy economy.[1] However, in 2022, this number spiked to [...]

4 01, 2023

Turning 59.5? Here are the Factors to Consider
Turning 59.5? Here are the Factors to Consider

Turning 59.5? Here are the Factors to Consider

BML Wealth Marketing2023-02-09T01:40:03-08:00January 4, 2023|Retirement Planning|

Approaching 60 is an exciting time. Not only does it come with more wisdom and thrill for a new chapter of life, but it also presents important financial decisions that can affect your life in retirement. If you are turning 59.5 this year, you will become eligible to withdraw from your retirement accounts without penalty. This birthday, and possibly 3 other birthdays that affect your retirement accounts, presents an opportunity to rethink your finances and live a new life. Here are factors to consider in this important year of your life. Rethink Your 401(K) [...]

29 11, 2022

The Value of Opening a Roth IRA at the End of the Year
The Value of Opening a Roth IRA at the End of the Year

The Value of Opening a Roth IRA at the End of the Year

BML Wealth Marketing2023-02-09T01:55:25-08:00November 29, 2022|Financial Planning, Investing, Retirement Income, Retirement Planning|

These days, retirement planning will likely involve Individual Retirement Accounts in one way or another. Whether you’re looking to roll over a 401(k), optimize your withdrawal timing, or take advantage of catch-up contributions, your IRA strategy may be one of the main components of your income strategy. So, let’s talk about the Roth IRA and its unique value at the end of the calendar year. What is the Roth IRA, and When is it Useful? The Roth IRA is a type of retirement account that you may withdraw from tax-free after a certain age and [...]