Inflation Can Be a Scary Word

Inflation can be a scary word for people who are retired. It’s code for “prices are going up, but my income may stay the same.” When inflation is running hot, you can feel its overreach in almost every corner of the economy. Managing inflation is the job of the Federal Reserve, and the Fed’s approach… Read more »

Caregiving, No Greater Gift

If you’re a woman of the Sandwich Generation, ages 35-54, then you’re possibly facing the challenge of managing your family, career, and the needs of your aging parents. First coined in 1981, the label “Sandwich Generation” describes caregivers who are responsible for both children and elderly parents. About 60% of sandwich generation caregivers are women…. Read more »

Sharing Financial Responsibility

April is Financial Literacy Month, and what better way to celebrate than by talking about money. For married couples, it is important to develop strong communication skills when talking about your money. This can be an uncomfortable and emotional topic, but try to understand your spouse’s money philosophy, background experience with money, and personal financial… Read more »

Don’t Fall in Love with Your Investments

This month is filled with thoughts and feelings of love and happiness. In the context of Valentine’s Day, making an emotional decision is good; however, when it comes to investment decisions, you should avoid basing these on a particular emotion. Many investors are emotional and reactionary, and fear and greed are heavy hitters in that… Read more »

‘Tis the Season For New Year’s Resolutions

It’s always a good time to give your finances in shape, but the beginning of a new year certainly offers a great starting point. Here are a few important areas to consider: Fully fund your emergency account and beyond. What can be counted on is the unexpected. Maintain three to six months of expenses in… Read more »

Qualified Charitable Distributions

As you enter your 70s, you may start to look at that IRA not only as an asset but also as a problem. By law, you must take required minimum distributions (RMDs) from a Traditional IRA once you reach age 72; there are a few exceptions to this. The downside of these RMDs? The entire… Read more »

Required Minimum Distribution

With the holidays fast approaching, it’s important for those who are 72 and up not to forget about the Internal Revenue Service (IRS). When you turn 72, you must start withdrawing a specific amount – a required minimum distribution (RMD) – from your tax-deferred retirement accounts, such as a traditional individual retirement account (IRA) or… Read more »

October is Financial Planning Month

October is Financial Planning Month and it is an excellent time to review these six personal finance areas. Cash Management: This is a broad topic that can address many issues. One area is creating an emergency fund, which is money that’s set aside for unplanned expenses. Cash management can also include looking at your “sources… Read more »

5 Things You Need to Know About Finances When Turning 65

It’s a pivotal age for retirement planning – even if you aren’t ready to retire yet. You still haven’t reached full retirement age for Social Security. This is a big change from your parents’ retirement. For decades, 65 was the magic age for receiving full Social Security benefits. But that age started to increase for… Read more »