Posts Tagged ‘financial planning’
How to Turn Your Dreams of Early Retirement into Reality
Early retirement can feel out of reach, but these eight financial planning steps can make your retirement dream a reality.
Read MoreThe Pillars of Retirement Planning
More than three-quarters of American workers are living paycheck to paycheck – 78 percent, in fact. They’re covering their monthly expenses, but they lack an emergency fund and aren’t able to save for the long-term either. It’s a precarious way to live, with one unexpected expense having the power to create a financial tailspin. Unfortunately, this isn’t just a concern for workers.
Although the phrase “paycheck to paycheck” tends to refer to working families, retirees can end up in the same risky position. Maybe you’ve planned ahead well enough to know that your retirement income streams will cover your basic expenses, but are you prepared for a rainy day? For a fulfilling and stress-free retirement, you also want to be able to handle emergency expenses and ensure you’re growing your money for the future.
Read MoreCoronavirus: What the Viral Epidemic Means for Investors
Volatile Markets and the Ongoing Spread of the Virus are Causing Economic Uncertainty
Last week saw the worst week on Wall Street since 2008, as the Dow fell into correction likely due to the outbreak and spread of COVID-19, commonly called novel coronavirus. A market correction is a nerve-wracking event for investors, but the current uneasiness in the markets is no cause for panic.
Market Impact
While the spread of COVID-19 is atypical, a market correction is not. In fact, it’s an entirely normal process, and not altogether unexpected after experiencing the longest-running bull market on record. There have been 22 market corrections since 1974, and they are aptly named because the market usually “corrects” itself and returns prices to their longer-term trends. While the coronavirus is likely to cause economic impact into at least the second quarter of 2020, historically, Wall Street’s reaction to these types of epidemics has been short-lived, including in the recent past.
Read MoreYour Retirement Plan Should Be As Unique As You
When it comes to being wise with your money, you have to develop a wealth strategy for retirement that is custom-tailored and unique to you, your family, and your needs specifically; no strategy is a one-size-fits-all strategy. In this episode of Wise Money, Michael Anderson discusses the different things to keep in mind when starting to build your wealth management strategy for retirement.
Read MoreIn Retirement, Money is a Tool To Do What Matters Most
When is the appropriate time to retire? In this episode, Michael Anderson reflects on the nuances of retirement, and what a typical retirement might look and feel like./p>
Read MoreHow Much Risk Should You Bring Into Your Retirement
As you get closer to retirement, there are a lot of new things to consider when it comes to how best to manage your money. Micahel digs into the different ways that you can balance risk versus safety with your portfolio so that you’re in the best position you can possibly be when it finally comes time to retire.
Read MoreThe SECURE Act
On this episode of Wise Money, Michael Anderson breaks down the fundamentals of the SECURE Act – a piece of legislation that will change retirement for many people, and he discusses how it could affect your personal retirement plans.
Read MoreFinancial Realities for Retirement
When it comes to retirement there are a lot of things to consider before making big decisions for your future. Michael breaks down the four biggest realities you face in retirement, and how to best navigate them for a more successful and stable retirement.
Read MoreMaintaining the Health of Your Wealth
You keep your physical health in check with regular visits to your doctor, the same principle applies to the health of your wealth. Checking in regularly with your financial advisor can help you stay on track with your goals, address any problems that arise, and keep your finances healthy and flourishing.
Read MorePlanning for an Extended Retirement
Planning for retirement in an age of increased longevity poses a different set of challenges. Today on Wise Money, Michael Andersen will cover how you can make the best decisions for the possibility of an extended retirement.
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