• The end of the year provides a good opportunity for reflection. The past 12 months brought plenty of opportunities to make financial strides — and plenty of potholes and challenges. A lot of Americans struggled with money issues, but others flourished. Whether your final ledger for 2021 puts you in the plus or minus column, these practices and behaviors can help going forward, especially if [...]

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    Understanding the various types of annuities and how they work If you are considering buying an annuity to provide steady income during retirement, it's important to understand the different types and how they work. Here's a look at the fundamentals of annuities and what to consider before making a decision. KEY TAKEAWAYS Investors typically buy annuities to provide a steady income stream[...]

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    KEY POINTS The Covid-19 pandemic has prompted people to rethink both big and small life goals. For 2022, it’s “super important” that everyone redo their financial plans, advisors say. These tips can help you make sure you’re on track and turn uncertainty into opportunity. This January not only marks the start of a new year. It is also the two-year anniversary of the [...]

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    Inflation is here. The most recent Consumer Price Index (CPI) inflation report showed that prices rose across the board in November. By a lot. Overall, prices climbed 6.8% year-over-year, the largest increase since June 1982, and rose 0.8% over the past month. Higher prices were “broad-based,” per the Bureau of Labor Statistics (BLS), with substantial increases seen in the indexes for [...]

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    What to do now, as the pandemic surges yet again in the U.S. COVID-19 is still raging throughout the U.S., and in much of the world it has never stopped doing so. Safe and highly effective vaccines are available, but not everywhere, and even where they are, not everyone who is eligible has gotten them. That means there is still the possibility of accompanying financial volatility, despite steady [...]

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    There's still time to give your savings a good boost before you retire If you're between 55 and 64 years old, you still have time to boost your retirement savings. Whether you plan to retire early, late, or never ever, having an adequate amount of money saved can make all the difference, both financially and psychologically. Your focus should be on building out—or catching up, if necessary. [...]

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    Different phases call for different strategies If you’re physically healthy and financially prepared, your retirement could last for decades. During that time, it may go through several distinct phases, with changing levels of income and expenses that require different approaches to budgeting. Even with a shorter retirement, you’ll likely experience much the same stages, just in a condensed [...]

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    Staggering your retirement date from your spouse may benefit you both Many working couples dream of the day when they can retire and sail off into the sunset together. However, couples should consider whether retiring at the same time is the wise choice. There are both financial and emotional ramifications to retiring simultaneously compared to having one spouse work longer than the other. It's a[...]

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    The income ranges, adjusted annually for inflation, determine which tax rates apply to you You may be making plans for filing your 2021 income taxes, but in a few short weeks you'll be living in tax year 2022, and tax year 2022 will differ substantially from 2021. Your tax brackets will be slightly higher, for example, as will your standard deduction. There is still time to reduce your[...]

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    Planning ahead is one of the best ways to prepare for a comfortable retirement. From keeping track of your savings to adopting strategies for generating income, a thoughtful approach can help you sustain your lifestyle as you move into the next phase of your life. Below, we break down four key factors to consider—and how to develop a retirement plan that works for you. 1. Generate Income in [...]

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