There are many reasons people don’t get professional financial advice — they may worry about the cost, or feel like they don’t have enough money to warrant formal planning.
If you are thinking about getting some expert advice, here are some things to consider.
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Investing headlines have many Americans wondering what’s ahead for the stock market. There have been periods of extreme volatility and many investors are experiencing declines in their returns.
In a volatile stock market, your emotions might let new highs and record lows drive your short-term decisions. The drastic ups and downs can make you feel confident one day and queasy the next. When your investment is reaching new highs, you might feel on top of the world. But, when your investment hits new lows, confidence wanes. The market’s volatile nature might even lead you to jump ship on your savings goals. Unfortunately, this could cost you over the long term. Continue reading
When you reach your 70s, life slows down a little. You may be planning to retire, or already living in retirement. Whatever your situation, there are ways to make your 70s more enjoyable and stress free, especially when it comes to managing your finances. If you still choose to work in some capacity, or simply want to enjoy your leisure time and hobbies, here are some tips to help you live the retirement you want.
Many Americans are lucky enough to have a retirement savings plan through their employers. If you don’t have that option, an Individual Retirement Account – or IRA – allows anyone with earned income to save for retirement. And if you’re self-employed, you can use an IRA to create your own retirement plan. In addition, there are special rules that may allow a stay-at-home spouse to contribute to one as well. Continue reading
Depending on your investment profile, you may want to consider including an annuity as part of your investment portfolio. Annuities can have features that provide a more moderate approach to help build retirement savings. They can also be used to create an income stream you can’t outlive.
Entering your 60s could mean you’re getting ready to reap your financial harvest. But, after decades of careful spending and saving, you may still be hesitant to say goodbye to full-time employment. If you’re still carrying high-interest rate debt, making a hefty mortgage payment, or wondering if you have enough money in savings, delaying retirement might be a good idea. Before you exit the workforce, reassess your finances and be prepared to reboot your retirement plan, as needed.
When it comes to your investing strategy, there are ways you can save on what you owe Uncle Sam by regularly investing for your future.
Investing in the stock market can be intimidating, even when the economy is booming. While “buy low, sell high” is sage advice for those entering the market, recent global and national events have sent otherwise confident investors on a roller coaster of emotions. It’s understandable. There have been several twists and turns in the market this year, and experts are expecting more of the same. But that doesn’t mean investors can’t protect their hard-earned money with an asset allocation strategy.
Here are ways you can spend less, save more and plan for your future.
