News
Social Wellness in Retirement
Social wellness should be top of mind whether you’re approaching retirement or already retired. Social wellness refers to nurturing yourself and your relationships. It can provide you with a positive social network that improves your self-esteem and overall quality of life.
5 Reasons You Should Update Your Estate Plan
Whether you’ve had an estate plan for years or only recently set one up, it’s essential to update your estate plan from time to time. So when should you update your estate plan? That answer depends on your unique circumstances. However, most financial experts recommend that you review and revise your estate plan every three to five years or after you’ve undergone a significant life event. Here’s a closer look at circumstances that may warrant an update to your estate plan:
5 Tips to Get the Most Out of Your Yearly Financial Review
No matter your age or stage of life, it’s essential to conduct a yearly financial review with your financial professional. A financial review will allow you to take a close look at your finances, assess the success of various strategies, and determine whether you need to make any changes.
Considering Investing in Today’s Real Estate Market?
If you currently invest in real estate or if you plan on investing in today’s real estate market, it’s essential to understand its risks.
Planning for Long Term Care with PTSD in Mind
Post-traumatic stress disorder, or PTSD, is a mental health condition that occurs in people who have experienced or witnessed a terrifying event.
What Do Rising Home Prices Mean for Your Estate?
Since the COVID-19 pandemic began, there have been rising home prices. According to Fannie Mae, they’ll continue to climb by 11.2% this year and expand at a more modest rate in 2023.
Inflation and How It Affects Every Industry
Inflation is the rate at which the cost of goods and services rises. Inflation affects and is measured by the consumer price index (CPI), which monitors the average prices of goods and services across categories like food, vehicles, apparel, and healthcare services.
5 Ways to Pay for Long Term Care During High Inflation
People are living longer and will likely need long-term care (LTC) at some point in their lives. The unknowns in most financial plans are how many years you will need LTC and what it will cost. Periods of high inflation significantly increase the cost of health care and LTC, even when prices return to normal. According to a study by Healthview Services, retirees will have to pay for healthcare in retirement, with inflation currently at a 40-year high. Other study findings include:
Who Hurts the Most From Inflation?
Inflation is at a forty-year high, and everyone is paying higher prices as inflation erodes the average person’s purchasing power. But who hurts the most from inflation?.
Two Significant Risks to Your Retirement Plan (and How to Mitigate Them)
With today’s high inflation and rising interest rates, some retirement plans may be at risk due to assets depleting prematurely due to these factors. Today’s economic conditions are much worse than coming out of the Great Depression when the U.S. experienced inflation, high-interest rates, historical debt, and tax levels when tax rates were above 40% for over 40 years (1940-1981). Here’s an explanation of two significant risks to your retirement plan: inflation risk and interest rate risk.
