As Gen X-ers and Millennials move toward retirement, long-term care expenses are poised to make up an even larger share of their retirement expenses. In 2021, long-term care cost American adults an average of between $35,000 and $108,000 annually—a hefty price tag for even the most diligent savers.1
But if you start planning early and focus on your goals, preparing for long-term care doesn’t need to be an insurmountable hurdle. Here are five tips to help guide your path. […]
The average American worker will change jobs more than once in their lifetime. While there are multiple options such as leaving your 401(k) in your former plan if allowed, cashing out the account balance, or transferring the 401(k), many decide to roll over their old 401(k) to their new employer’s plan or other investment vehicles such as an IRA, Roth IRA, or an annuity. Here, we provide tips to help the rollover process go quickly and smoothly for you. […]
The integration of tech can amplify the capabilities of financial professionals
As investors navigate the dynamic landscape of the financial markets, they find themselves at the intersection of cutting-edge technology and traditional expertise. The advent of Artificial Intelligence (AI) and data-driven solutions has undoubtedly revolutionized the financial advisory space.
However, as industry research suggests, the next generation of investors places immense value not only on the personalized and immediate benefits AI brings but also on the human touch provided by financial professionals. […]
Healthcare is one of the more difficult areas to navigate as you get closer to retirement. With so much focus on saving enough for retirement and ensuring that your investments will keep up with inflation, many people fail to square away their healthcare affairs before retirement age. However, if you want a greater chance of enjoying your retirement, getting your healthcare priorities in order sooner rather than later is critical. […]
As one approaches retirement, monitoring your financial situation by understanding your net worth and assessing the assets and resources needed to maintain a comfortable lifestyle throughout retirement is vital. This article explores eight key financial wellness metrics individuals must monitor as they approach retirement. […]
Getting close to retirement is exciting, but it often brings a little worry about your financial future. The closer you get, the more you may be concerned with the rising living costs and if your finances are on track to allow you to live as planned when retirement comes. Whether your retirement is within the next couple of years or the next five, the new year is the perfect time to make financial resolutions to help you toward your retirement goals. Below are just a few financial resolutions to consider this year. […]
After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan […]
Many women have been a caregiver while raising children. Still, now many are caring for a loved one out of necessity as the older family member can no longer care for themselves. The Transamerica Center for Retirement Studies report, The Many Faces of Caregivers, indicates that 42% of Generation Xers and 42% of Baby Boomers […]
What does “coordination with government benefits” mean? In the context of long-term nursing home care, a number of governmental (and governmentally regulated) programs and tools exist to help you pay for this care. Medicare, Medicaid, Medigap, and long-term care insurance (LTCI) (combined with Medicare) can each assist you to pay for your long-term nursing-home care, […]
Everyone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but like everyone you’re hoping that your holdings will increase in value). One of the most challenging aspects of investing involves matching your tolerance for risk with your […]
