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How to Support Your Aging Parents Without Sacrificing Your Financial Stability
Supporting your aging parents is one of the most meaningful things you can do—but what happens when their financial needs start to clash with your own? The last thing you want is to jeopardize your own future while trying to help them. Fortunately, with some careful planning, you can strike a balance between generosity and financial health. Have the Money [...]
Is a Roth IRA Conversion in Your Future?
Retirees aiming to reduce their taxes in retirement can benefit from strategic conversions and transfers between traditional and Roth Individual Retirement Accounts (IRAs), especially when considering the timing and financial landscape. Identifying optimal windows for Roth conversions can lead to significant tax advantages and may enhance retirement income. Here are key opportunities to consider: During Market Downturns Market declines [...]
January 2025 Market Watch
January 7, 2025 Market Health Indicator - Current Score The Market Health Indicator (MHI) measures market health on a scale of 0 - 100, analyzing various market segments such as economics, technicals, and volatility. Higher scores indicate healthier market conditions. Santa failed to deliver an end-of-year rally as markets fell flat in December While 2024 was largely a positive year for [...]
How Lower Interest Rates Could Impact Your Money
The Federal Reserve recently announced their decision to lower interest rates, marking a significant shift in monetary policy. This change could have far-reaching implications—namely to your retirement finances if you rely on interest-earning accounts like money market accounts, CDs, and savings accounts.[1] The Impact on Interest-Earning Accounts Interest-earning accounts, known for their stability and, of late, their relatively higher yields, [...]
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 [...]
10 Actions That Help You Pursue Financial Wellness
Establishing financial wellness is a personal, ever-changing state of being that enables one to exercise choice while feeling in control of finances. The individual determines financial wellness, which often includes working toward financial goals by completing specific actions. Some actions are time-sensitive, but others can occur anytime throughout the year. Here are ten actions that may help keep your finances [...]
How to Turn Your Roth IRA into Regular Income
In retirement, prioritizing stability is crucial—not just the growth of your account value. While it’s tempting to focus on maximizing returns, the reality is that you need a reliable income stream to support your lifestyle and replace your paycheck. Relying on market fluctuations for your financial security can lead to uncertainty and stress. Instead, having a consistent monthly income allows [...]
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 lies in estate planning and life insurance. When effectively combined, these components offer invaluable financial support to your family and friends. Understanding how to integrate both into a comprehensive plan is key. This guide will help you get started with life insurance [...]
