Member Advantage Articles

Retirement in Sight – December 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – December 2019 QUOTE OF THE MONTH “Always be a first-rate version of yourself, instead of a second-rate version of someone else.” JUDY GARLAND READY FOR MORE TIME TOGETHER? A career-focused couple may spend as little as 5 to 6 hours interacting with each other on most days, given hours spent working, commuting, shopping, and running errands apart. Once retired, that same couple may spend as many as 15 to 16 hours together each day, with work and…

Holiday Wrap-Up

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A look back at 2019, thus far… Presented by UPAL The year in brief. 2019 brought three quarters of disagreement over trade issues between the U.S. and China… followed by fourth-quarter hints that a partial trade deal could be reached. Concerns grew over economic deceleration in America, and the Federal Reserve made three quarter-point interest rate cuts in a nod to that perception. Wall Street was fixated on trade and monetary policy for most of the year, and ultimately, investors saw more upside in equities than downside. Domestic economic health….

Your Year-End Financial Checklist

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Six aspects of your financial life to review as the year draws to a close. November 25, 2019 The end of the year can help remind us of last-minute things we need to address and long-term goals we want to accomplish. To that end, here are six aspects of your financial life to think about as this year leads into the next. Keep in mind, this article is for informational purposes only and is not a replacement for real-life advice. Make certain to contact a tax or legal professional before…

Retirement in Sight – November 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES Presented by UPAL – November 2019 QUOTE OF THE MONTH “Whatever advice you give, be brief.” HORACE WORKING A LITTLE IN RETIREMENT MAY BE EASIER THAN YOU THINK Increasingly, Americans older than 65 are finding compelling reasons to return to the workforce, whether part time or full time. Some want the money; some want the challenge and sense of purpose. One factor in their favor: companies in many industries are having a hard time finding enough qualified workers. So far this…

Retirement in Sight – October 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – OCTOBER 2019 QUOTE OF THE MONTH  “Any great work of art … revives and readapts time and space, and the measure of its success is the extent to which it makes you an inhabitant of that world — the extent to which it invites you in and lets you breathe its strange, special air.” LEONARD BERNSTEIN GENERATING RETIREMENT INCOME Each day, more than 10,000 Americans celebrate their 65th birthday. It’s a milestone, and for some, it signifies…

Retirement in Sight – September 2019

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MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES Presented by UPAL – September 2019 QUOTE OF THE MONTH “The more we do, the more we can do; the more busy we are, the more leisure we have.” William Hazlitt SUNNIER PROSPECTS FOR WORKING AS A SENIOR In recent years, a steady stream of articles has appeared, questioning baby boomers’ hopes to keep working part time in their retirement years. These articles have tended to take a skeptical view of such ambitions. Well, maybe it is time to sweep some…

Cash Balance Plans

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More professional practices (and practice groups) should look into them. August 23, 2019 In corporate America, pension plans are fading away. Only 16% of Fortune 500 companies offered them to full-time employees in 2018, according to Willis Towers Watson research. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by adopting cash balance plans.1 Owners and partners of these highly profitable businesses sometimes get a late start on retirement planning. Cash balance plans give them a chance to catch up. These…

Retirement in Sight – August 2019

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Monthly News and Information for Current and Future Retirees Presented by UPAL – August 2019 QUOTE OF THE MONTH “The heads of strong old age are beautiful beyond all grace of youth.” ROBINSON JEFFERS THINKING ABOUT LEAVING WORK A LITTLE EARLY? The so-called “FIRE” movement (FIRE stands for financial independence, retire early) has garnered so much attention lately, even those who anticipate retiring in their sixties are wondering if they should make a sacrifice or two to exit their careers or businesses a bit earlier. A poll, commissioned by personal…

Unrealized Loss and Gain

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What they are; why they matter. August 19, 2019 For many investors, it can be tempting to think of one’s portfolio in terms of “gains” or “losses.” True, this is a central concept to understanding market behavior, but to truly maximize your investing knowledge, you also need to know about “unrealized gains,” “unrealized losses,” and how they can work to your advantage. As always, the following information is not intended as tax or legal advice. Any financial decision should be undertaken in consultation with your financial advisor and is not…

401(k) Loan Repayment

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A longer repayment time can be an advantage. August 19, 2019 The conventional wisdom about taking a loan from your 401(k) plan is often boiled down to: not unless absolutely necessary. That said, it isn’t always avoidable for everyone or in every situation. In a true emergency, if you had no alternative, the rules do allow for a loan, but they also require a fast repayment if your employment were to end. Recent changes have changed that deadline, offering some flexibility to those taking the loan. (Distributions from 401(k) plans…