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What Retirees Should Know About Tariffs
As a new administration weighs its stance on tariffs, it’s worth considering how these policies may affect retirees and their financial plans. Tariffs, often described as taxes on imported goods, are actually taxes imposed on U.S. companies importing foreign products. These taxes can ripple through the economy, impacting consumer prices, including essentials that retirees rely on, such as groceries, healthcare, [...]
How Spending and Budgets in Retirement Change Over Time
Retirement is often viewed as a static phase of life, but the reality is far more dynamic. As retirees progress through their golden years, their spending habits and budgetary needs evolve significantly. Understanding these changes is crucial for effective retirement planning and ensuring financial stability throughout this important life stage. The Early Years The initial years of retirement are often [...]
4 Basics to Healthcare Planning in Retirement
Retirement is an exciting time, but it can also be a time of uncertainty, especially when it comes to healthcare planning. As you approach retirement, it's important to consider how you'll manage your healthcare costs and ensure that you have access to the care you need. Here are four things you should know about healthcare planning before you retire. Medicare [...]
Back to the Basics of Retirement Accounts
Retirement accounts are a cornerstone of today’s retirement strategies. While everyone might recognize the terms “IRA” or “401(k),” it’s important to familiarize yourself with how they work so you can understand how they may play a role in your own retirement strategy and timeline. Once you approach retirement, there are so many ways you can use these types of accounts, [...]
Navigating Market Volatility: What Retirees Should Know About August’s “Japanese Carry Trade”
In August of 2024, the financial world was abuzz with discussions about the Japanese carry trade and its impact on global markets. For retirees and those nearing retirement, understanding these developments may help you understand why markets are moving, but it's equally important to maintain a focus on long-term financial security rather than reacting to short-term market fluctuations. Regardless, the [...]
The Role of Life Insurance in Estate Planning
Have you ever considered how your loved ones will be taken care of after your passing? The answer may lie in estate planning and life insurance. When effectively combined, these components could offer invaluable financial support to your family and friends. Understanding how to integrate both into a comprehensive plan is key. This article can help you get started with [...]
4 Reasons Your Retirement Needs a Healthcare Strategy
As you approach retirement, it’s easy to focus on financial planning, travel dreams, and leisure activities. However, one critical aspect that often gets overlooked is healthcare. A well-thought-out healthcare strategy can help to ensure you thrive in your retirement years without the burden of unexpected medical expenses or health-related issues. Here are four compelling reasons why you need a healthcare [...]
Boost Your Retirement with a Coordinated Estate Plan
As a member of Generation X, you may be anticipating an inheritance from your aging parents. However, simply waiting for that potential windfall is not enough to ensure a secure retirement. It's crucial to have an estate plan that is coordinated with your parents' plan to truly maximize the benefits of any inherited wealth. Here are 5 reasons why: Avoid [...]
