retirement planning, growth strategy

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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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Before setting sail on your retirement journey, take some time to create your retirement checklist. On this episode of Wise Money, Michael Andersen will show you how creating a checklist for your retirement journey can keep you on track for the retirement of your dreams.

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