What’s good for the economy isn’t necessarily good for our future. Provided by Virtue Wealth Management Our parents & grandparents saved much more than we do. Most people who have read up on the economy for any length of time have heard of the personal saving rate (PSAVERT), which the Commerce Department calculates as the [...]
Patience & diversification matter in all manner of stock market climates. Stocks rise, fall ... and rise again. Volatility certainly came back to Wall Street during the first several weeks of 2014 in the form of a 7.2% descent for the Dow Jones Industrial Average and a 5.9% retreat for the NASDAQ. The declines gave [...]
Your assets matter more than your age. Isn’t 65 the traditional retirement age? Perhaps, but baby boomers are modifying the definition of a traditional retirement (if not redefining it altogether). The Social Security Administration has subtly revised its definition of the traditional retirement age as well. If you glance at the SSA website, the “full” [...]
Crucial questions & essential documents. The financial planning process is not merely a matter of numbers. When you meet with a financial advisor to map out a strategy for wealth accumulation or wealth preservation, you may find yourself intellectually and emotionally engaged on a level you hadn't anticipated. It may actually give you a better [...]
New & old concepts to address the retirement savings gap. How many 401(k)s have more than $100k in them? According to the Employee Benefit Research Institute (EBRI), the average 401(k) balance at the end of 2012 was $63,929.1 Is this enough money to retire on? No – and this is only part of America’s retirement [...]
Here is what you need to know for 2014. Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. *April 1 is the absolute deadline to take an initial IRA Required Minimum Distribution (RMD). *April 15 is the deadline for making annual contributions to a traditional [...]
More improvement may be in store for the economy & the stock market. Will the economy & the bull market make further strides next year? On both Wall Street and Main Street, 2013 has turned out better than many analysts expected. Will the recovery gain additional momentum in 2014, and will stocks climb even higher? [...]
Little things you could do that could help you leave work a little sooner. Little things matter. When planning for retirement, people naturally think about the big things – arranging sufficient income, amassing enough savings, investing so that you don’t outlive your money, managing forms of risk. All of this is essential. Still, there are [...]
How good a year was it for the economy? Statistics tell the tale. Was 2013 a terrific year for stocks? Absolutely. The good news wasn’t limited to Wall Street, however: the employment rate fell, the economy revved up, home prices rose and inflation pressure was minimal. Bulls triumphed. Christmas Eve brought the Dow’s 49th record [...]
If you’re 40 or 50 and haven’t begun, you must make the effort. Some people start saving for retirement at 20, 25, or 30. Others start later, and while their accumulated assets will have fewer years of compounding to benefit from, that shouldn’t discourage them to the point of doing nothing. If you need [...]
