Have you ever looked at the amount of money in your retirement account and thought, “Is this enough?” Or maybe you have put off planning for retirement because it seems too much to handle. It’s like trying to guess the weather 20 years from now when you’re trying to figure out how much money you … Read more
Self-employment offers amazing freedom, but let’s be honest—retirement planning gets a bit tricky when you’re your own boss. Without that corporate 401(k) plan and employer match, you might be wondering what retirement savings options you have available. Well, I’ve got great news! As a self-employed person, you absolutely can open a Roth IRA, and it … Read more
The ideal monthly retirement income for a couple differs for everyone. It depends on your personal preferences, past accomplishments, and retirement plans. Some valuable perspective can be found in the 2022 US Census Bureau’s median income for couples 65 and over: $76,490 annually or about $6,374 monthly. Would this much money help you and your … Read more
Ever stared at your bank account wondering if you’ve saved enough? You’re definitely not alone. Whether you’re just starting your savings journey or looking to beef up your financial cushion, figuring out the “right” amount to have in savings can feel overwhelming. Let me break it down for you in a way that actually makes … Read more
I hear the term “generational wealth” from time to time, and I have even written about just how difficult it is to maintain wealth in a family long-term. Yet I hear this frequently listed as a goal (not a SMART goal, but a goal nonetheless). The gist of it comes from ideas like this quote … Read more
Is a trust part of your estate plan? A trust is a versatile legal entity and serves several purposes. They legally protect and manage property or assets for your benefit and that of your loved ones. They can also ensure your assets are distributed according to your wishes. Trusts can impact inheritance taxes, but it … Read more
Aim for about one to two months’ worth of living expenses in checking, plus a 10% buffer, and another three to six months’ worth of savings. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to … Read more
Knowing what your super balance should be for your age can help you get ready for retirement. Check what your super balance should be now to retire comfortably. And see how your super savings compare to the average super balance by age. Ever wondered if your retirement nest egg is big enough compared to other … Read more
Are you thinking about your £700,000 pension pot and whether it will set you free? You’re not the only one! Many Britons who are getting close to retirement age do the same thing. You can use what I’ve learned to figure out if your nest egg is enough to live on in your golden years. … Read more
Your financial needs, priorities and goals are constantly evolving throughout your life. So when you have a long-term investment, such as an annuity, its a good idea to revisit it periodically to make sure its still meeting your expectations. Many financial products are designed to change, roll over, mature and otherwise evolve with you, and … Read more