Key Takeaways: What is a safe amount to withdraw each year in retirement? The Center for Retirement Research at Boston College has found that many older Americans could be at risk of emptying their accounts by age 85, although half of them will live beyond then.[1] To avoid emptying your account prematurely, the 4% rule...
Read more about Strategies to help ensure you don’t deplete your retirement savings too early
Small business owners wear a lot of hats. Decisions on health care plans, retirement plans and other benefits are often left solely to the owner. Offering a small business retirement plan to employees isn’t always on the radar. A study by LIMRA showed that only 42 percent of small businesses offered retirement plans – despite...
Read more about How to Pick a Small Business Retirement Plan [Slideshow]
As we begin the new year and get closer to tax day in April, many of us are thinking more about planning for taxes and different strategies we can take to be more tax-efficient. Many federal tax policies and priorities are still up in the air, which can lead to some confusion as to what...
Read more about Strategies to consider when planning for your taxes
Because inflation affects our day-to-day lives, worrying about inflation affecting car repairs is understandable. As of August 2023, car maintenance prices had increased 23% over the previous year. There are many reasons for this, including a shortage of workers and car parts. Also, because the technology on cars has advanced, repairs to the high-tech features...
Read more about How Does Inflation Affect Car Repairs?
A reference Trusts are an integral part of estate planning and funding a trust so that it meets the needs of a client’s estate and wealth transfer goals involves a proper and sound strategy. Nearly any type of asset can be used to fund a trust, including stocks, bonds, cash, mutual funds, real estate property,...
Read more about Using annuities in trusts
Understanding Medicare can be difficult, but the Nationwide Retirement Institute® is here to help you by sharing some of the most common Medicare questions.
Read more about Medicare Questions – Answering the Most FAQ
According to Healthcare.gov, the definition of an HSA is “A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to...
Read more about What is a Health Savings Account (HSA) and Is It Worth it?
When it comes to planning for death or the passing of a loved one, there are common things we do such as making sure you’re covered by life insurance, funeral pre-planning, and securing your will. Many other things can be overlooked through the stress of emotionally and financially planning for the death of a spouse....
Read more about What Are Social Security Survivor Benefits?
If you’re finding credit hard to get or you don’t have as much equity in your home these days, taking out a loan from your own 401(k) plan may be appealing. After all, most employers allow this, although some only allow the loans for buying your first home or paying un-reimbursed medical expenses. Your 401(k)...
Read more about Pros and Cons of Borrowing From Your 401k
What is an emergency fund? Sometimes called a rainy day fund , an emergency fund is money that you set aside to serve as your financial safety net for when you need it. What qualifies as an emergency? To a certain extent, an emergency varies by the individual, but one way to think of it...
Read more about How to Start an Emergency Fund
Learning how to live on your own can be an exciting time in your life, but it’s also a big and costly transition. One of the first and most important decisions you’ll need to make involves finding a place to live that fits your budget. Because this is typically your largest expense, it raises the...
Read more about How Much Should You Spend on Rent?
No one could ever love your children quite like you do. But in the unlikely event that both you and your partner pass away, it’s important to have a guardian named in your will (the only place where this directive can be given) who can care for your children in your absence. Deciding who this...
Read more about How to Choose a Guardian for Your Child
You’ve been saving for a house by paying down your debt, working on improving your credit score, and cutting back on spending. For many of us, buying a home will be the single biggest financial milestone we hit. Owning a home can drastically improve your quality of life, and it can seem especially appealing now...
Read more about Should I Buy a House During the COVID-19 Pandemic?
During a global pandemic, everything can feel exponentially more stressful and difficult. With millions of Americans filing for unemployment since the beginning of March, many of us are forced to deal with the anxiety of finances on top of everything else we have to worry about. Here are 4 simple things you can do to...
Read more about How to Pay Off Debt During the COVID-19 Pandemic
Paperwork. It’s not the most exciting part of life, but putting a little work in up front to keep important documents organized and accessible can save a lot of hassle when you need to access them. But how long do you really need to keep documents? This guide will explain how long to keep your...
Read more about How Long to Keep Documents