A friend recently asked me whether she should open a Roth IRA or a Traditional IRA. In case these terms are unfamiliar to you, IRA stands for Individual Retirement Account—as opposed to a group or company-sponsored type such as a 401(k)—and comes in two main forms:...
April 2018 Monthly Insight: Encourage Your Young Loved Ones to Save Early with a Roth IRA
“I love the Roth IRA. Tax-free income in retirement is a truly great deal.” -Suze Orman You’re no stranger to the power of compounding interest—but you still might be surprised at the astounding impact it can have on young investors’ financial futures. That’s why we...
Deciding When to Retire: When Timing Becomes Critical
Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses, but also what sources of retirement income you'll have and how long you'll need your retirement savings...
Can You Reduce Your Lifetime Health Care Costs by Staying Healthy?
An apple a day keeps the doctor away – and spares you the bill for medical services. Does this logic carry over into lifetime health care planning? Can you reduce your lifetime health care costs by staying healthy? Apparently not. The Center for Retirement Research at...
When to Apply for Social Security Benefits
With the demise of guaranteed pensions, and in light of the risks you face in managing your own retirement assets, maximizing Social Security becomes a critical part of retirement planning. How claiming age affects the income stream One of the most important decisions...
Checklist: Is It Time for Assisted Living?
Rosalyn Carter once said: “There are only four kinds of people in the world – those who have been caregivers, those who are currently caregivers, those who will be caregivers, and those who will need caregivers.” In light of the longer lives we now enjoy, it’s very...
August 2017 Monthly Insight: Social Security Trust Funds: Financial Trouble Ahead…Maybe
"We put those payroll contributions there so as to give the contributors a legal, moral, and political right to collect their pensions… With those taxes there, no damn politician can ever scrap my social security program." -President Franklin Roosevelt, as quoted by...
10 Years and Counting: Points to Consider as You Approach Retirement
If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with friends and family? Should you...
Test your Knowledge of Financial Basics
How well do you understand personal finance? The following brief quiz can help you gauge your knowledge of a few basics. In the answer section, you'll find details to help you learn more. TAKE THE QUIZ!
Active vs. Passive Management
One of the longest-standing debates in investing is over the relative merits of active portfolio management versus passive management. With an actively managed portfolio, a manager tries to beat the performance of a given benchmark index by using his or her judgment...