When it comes to retirement, women can experience more challenges saving for retirement than men. Some of these challenges include leaving the workforce to care for children or other family members and lower pay or challenges in finding full-time employment.
When it comes to retirement and retirement income, you probably know that saving for it as early as possible is essential. This way, you can tap into the power of compound interest and build a healthy nest egg for your future.
According to Wikipedia, “A hobby is considered to be a regular activity that is done for enjoyment, typically during one’s leisure time, not professionally and not for pay. Hobbies can include collecting items and objects, engaging in creative and artistic pursuits, playing sports, or pursuing other amusements.”
Dean Gray, a partner with his father in Robbin Gray Senior Planning Services of Pittsville, Md., summarized the company’s purpose simply: “We are here to help those thinking retiring, seniors, or those about to be seniors.”
Happy New Year! The start of a new year is a great time to make financial moves that benefit your life in 2021 and beyond. Let’s get started. Starting the New Year with these 15 tasks in process or completed can make a financial difference to you and others:
If you do a Google search for financial wellness, you will find many definitions or explanations. Financial wellness doesn’t have just one meaning because it means something different to each person. Financial wellness is a broad term that encompasses these key areas:
The IRS released its breakdown of marginal tax rates for 2021 in December 2020. Consistent with the previous year’s notifications, tax rates adjust almost yearly basing on inflation. Check out these smart tax planning tips.
The Social Security Administration has again approved a cost-of-living adjustment (COLA) for the Social Security benefit starting in January 2021. The increase of 1.3 percent is calculated based on the year-over-year rate of inflation and will increase the average American worker’s benefit by about $20 per month.
Before 2020 comes to an end, you may want to consider charitable giving deductions. December 1st is the National Day of Giving. It’s the perfect time to give back to charities and individuals you value. Not only can giving back allow you to feel good, giving back comes with a variety of financial and tax benefits.
There is no better time for financial goal setting than at the start of a new year. Financial goals allow you to create a plan, track your progress, and hold yourself accountable.