Financial Education

The holidays are approaching, and everyone is stepping into high gear. From Thanksgiving dinners and seasonal gift shopping to family get-togethers, these are busy but joy-filled times. Aside from the festivity, fellowship, and merriment, though, it can also be financially stressful for many households.

The holiday season brings more pressure to spend, and this can put strain on retirees, many of whom live on a fixed income. For lots of Americans, there’s also the issue of personal debt. Having the pressure of growing debt loads, many people feel the impact of debt on their retirement goals, not to mention other objectives. And excessive holiday spending can be partly to blame. A survey by NerdWallet found that 24% of shoppers overspent last year, while 27% made no budget at all.

The good news is with the right steps, financial wellness is within reach. If you are in your 50s or 60s, it’s prudent to start taking steps to set goals, plan for the future, avoid financial missteps, and make changes so your money works for you.

Here are some steps to get your financial house in order for the year-end and for greater financial confidence in the future. Read More

As the holiday festivities roll around, many of us are thinking about the new upcoming year. What steps can we take to start off with a clean slate in the new year?

The top priority is getting our financial house in order, but what can we do to accomplish that?

What can help is having a year-end financial review and creating a well-balanced plan for the future, preferably with a financial professional. Not only will it help you start off strong, but it also will bring clarity and precision to your financial outlook.

Of course, this proactive approach doesn’t bring just short-term benefit. A year-end review and wrap-up of remaining plans can help you prepare well for long-term retirement goals and overall financial security.

Read on for some quick tips to consider during your annual review and planning process. Read More

There are many types of IRAs. But two of the most common are the traditional IRA and the Roth IRA. The type of account you select can have a significant impact on your long-term household savings.

The biggest difference between a traditional IRA and Roth IRA is their classifications in the IRS tax code. A traditional IRA holds the benefit of tax deferral, which means that money going into it has pre-tax status. On the other hand, since a Roth IRA is funded with after-tax dollars, it gives the benefit of potentially tax-free distributions. On top of these differences, both types of accounts have different rules for required minimum distributions.

Because of this difference and others, it’s important to understand the fundamentals behind these two plans. This brief discussion will help you understand their distinctions, their eligibility criteria, and other important factors. Let’s get into it. Read More

Brent Meyer, President and Founder of SafeMoney.com, recently sat down with Protect Wealth Academy (PWA). PWA is an organization which teaches investors how to protect their assets, minimize taxes, and create wealth. During the conversation, they talked about retirement planning, why it’s critical to plan for a long retirement lifespan, as well as growth, income, and protection strategies using guaranteed insurance contracts. Read More

Note: This is the fourth part of a month-long series on financial awareness in the U.S., and how investors are planning – or not preparing – for retirement. Here are some important takeaways that are keeping Americans from financial security and peace of mind.

For the first time in a long while, Americans are feeling more stressed than ever. If surveys are any indicator, money concerns are a big part of it. In fact, more Americans are losing sleep over money issues than before the Great Recession.

According to CreditCards.com, 65% of Americans report having insomnia over money issues – a 9-point jump from 56% in 2007. And what accounts for these new, high levels of stress? Here’s a quick look at the sleep killers for Americans in 2017. Read More

Note: This is the second part of a month-long series on financial awareness in the U.S., 401(k) plans, and how investors are planning – or not preparing – for retirement. If you have an employer-sponsored retirement plan, read on for insights on how a lack of financial education can tie into people’s experiences with their 401(k) plans.

Financial Literacy: A Must for Retirement Success

Financial wellness is the ground-spring for a happy and financially secure retirement. As common sense may indicate, this begins with well-informed retirement planning decisions. But many Americans fall short in their knowledge of even the basics, as numerous consumer surveys document, year after year. And in turn, this knowledge gap can lead into broken retirement dreams: crushing debt, depletion of savings, scaled-back lifestyles, and other headaches that undermine Americans’ post-work standard of living. Read More

The holidays offer a great opportunity for us to reconnect with loved ones, relatives, and friends. From Thanksgiving dinners and seasonal gift shopping to holiday get-togethers and family gatherings, these times are truly special. But apart from the joy, merriment, good cheer, and great company, many Americans find this period financially stressful.

Discretionary spending, in the form of gift buying and other holiday shopping, ups the pressure on household budgets. And for a large proportion of retired and working Americans, the coming year-end may increase the brunt of existing financial pressures and obligations. Having sufficient income and healthy cash-flow is a concern for all households, especially people in their retirement years. The holidays are an ideal time-frame for financial review, but it can be intimidating to get our house in order, as personal finances are tedious, detailed, and, for many, overwhelming.

However, a secure financial life is well within reach, and it involves taking the right steps. If you are retired or approaching your golden years, read on for four quick tips to boost your financial wellness this holiday season. Read More