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Should You Care What the Financial Markets Do Each Day?

Focusing on Your Strategy During Turbulent Times. February 25, 2020 Investors are people, and people are often impatient. No one likes to wait in line or wait longer than they have to for something, especially today when so much is just a click or two away. This impatience also manifests itself in the financial markets. When stocks slip, for example, some investors grow uneasy. Their impulse is to sell, get out, and get back in later. If they give in to that impulse, they may effectively pay a price. Across the 30 years ended December 31, 2018, the Standard &

February 25, 2020

That First Distribution from Your IRA

What you need to know. February 25, 2020 When you are in your seventies, Internal Revenue Service rules say that you must start making withdrawals from your traditional IRA(s). In I.R.S. terminology, these withdrawals are called Required Minimum Distributions (RMDs).1 Generally, these distributions from traditional IRAs must begin once you reach age 72. The money distributed to you is taxed as ordinary income. (When such distributions are taken before age 59½, they may be subject to a 10% federal income tax penalty.)1 If you fail to make these withdrawals or take out less than the required amount, the I.R.S. will

February 25, 2020

401(k) Loan Repayment

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 and most other employer-sponsored retirement plans are taxed as ordinary

August 19, 2019

Is America Prepared to Retire?

A look at some ways to get ready. February 26, 2019 Are Americans saving enough? Only 19% of U.S. adults describe themselves as “very confident” when asked about their savings. Worry spots include retiring without enough money saved (16%) and anxiety about having a “rainy day” emergency fund (14%). These findings come from the 2018 Consumer Financial Literacy Survey conducted by the National Foundation for Credit Counseling. (The survey collected data from 2,017 U.S. adults.)1 Only 41% of us keep a regular budget. If you are one of those roughly two-out-of-five Americans, you’re on the right track. While this percentage

February 26, 2019

Social Security by the Numbers

Facts about the federal Old-Age, Survivors, and Disability Insurance (OASDI) program. February 26, 2019 Social Security has been a pillar of retirement life for several decades, but how much do you really know about it? Here are some facts that might surprise you: The Social Security trust fund exceeds the gross domestic product of every major economy in the world, except the nine largest: China, the European Union, the United States, India, Japan, Germany, Russia, Indonesia, and Brazil.1 For 61% of retirees, Social Security is a major source of income.1 Benefits are subject to federal income taxes, but it wasn’t

February 26, 2019

Value vs. Growth Investing

There are those who favor value and those who favor growth. February 26, 2019 You might be initially confused by these terms or even suspect they aren’t that different in terms of what each model offers you as an investor, but they are very distinct approaches, and it’s good to understand these two schools of thought as you invest. This understanding could help you make important investment decisions, both now and in the future.1 At first glance, some of the advantages to each approach may not be immediately obvious, depending on what sort of market you are facing. There is

February 26, 2019

Succession Planning

Preparing a smoother transition. February 11, 2019 A successful finale. If you are an entrepreneur, what is the final act for you and your business? If you have been successful, you likely want the company you created to be able to continue once you are no longer at the helm. For that reason, many people in your position create a succession plan to implement when the time comes. What do you need to think about? It may be helpful to start with the end – that is, visualize how you see things looking without you in charge. You have an

February 11, 2019

Certain Uncertainties in Retirement

Two financial unknowns may erode our degree of confidence. February 11, 2019 The financial uncertainties we face in retirement may risk reducing our sense of confidence, potentially undermining our outlook during those years. Indeed, according to the 2018 Retirement Confidence Survey by the Employee Benefits Research Institute, only 17% of pre-retirees said they are “very confident” about having enough assets to live comfortably in retirement. In addition, just 32% of retirees were “very confident” in their prospects for doing so.1 Today, retirees face two overarching uncertainties. While each one can lead even the best-laid strategies awry, it is important to

February 11, 2019

Retirement in Sight – February 2019

MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES PRESENTED BY UPAL – February 2019 QUOTE OF THE MONTH “What I know for sure is that what you give comes back to you.” OPRAH WINFREY HOW CAN A WOMAN TRY TO PREVENT OUTLIVING HER MONEY? Certain financial decisions may help a woman grow and sustain her retirement assets across the decades to make up for time out of the workforce and the prevalent earnings gender gap. Obviously, one fundamental move would be to start saving and investing for retirement as early as possible – but other, sometimes under recognized choices may

February 11, 2019

Is Generation X Preparing Adequately for Retirement?

Future financial needs may be underestimated. November 14, 2018 If you were born during 1965-80, you belong to “Generation X.” Ten or twenty years ago, you may have thought of retirement as an event in the lives of your parents or grandparents; within the next 10-15 years, you will probably be thinking about how your own retirement will unfold.1 According to the most recent annual retirement survey from the Transamerica Center for Retirement Studies, the average Gen Xer has saved only about $72,000 for retirement. Hypothetically, how much would that $72,000 grow in a tax-deferred account returning 6% over 15

November 14, 2018

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Should You Care What the Financial Markets Do Each Day?

That First Distribution from Your IRA

401(k) Loan Repayment

Is America Prepared to Retire?

Value vs. Growth Investing

Succession Planning

Certain Uncertainties in Retirement

Retirement in Sight – February 2019

Is Generation X Preparing Adequately for Retirement?

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