In this limited space, it would not be possible to convey all you need to know about retirement planning. But I can show you a new way to look at retirement saving, income and return on investments. To get us going, here’s a money-math question. If your portfolio lost 25% in a down market, what percentage must it gain to recoup that loss? The obvious answer is 25% but is that correct? Nope! As you can see in the below […]

If you leave an employer before reaching retirement age, should you (or can you) take your retirement accounts/benefits with you? That’s a question with major consequences. Your options depend on the type of plan you are in. There are two basic plan categories: defined benefit and defined contribution. “Defined Benefit” Plan A defined benefit plan defines your retirement income based on your salary, years of service, etc. Those are unusual outside of government service and a few major corporations. If […]

Creating an investment plan to get you to your long-term financial goals is an important step in your financial journey. But how can you get started building the investment plan that works for your goals, situation, and lifestyle? There are four critical questions you need to ask yourself to create your own custom investment plan – let’s learn more.   For more information about investing, download our complimentary resource: 4 Unintentional Investing Mind Tricks.   1. What is my goal? […]

A buy-and-hold investment plan is easier in theory than in practice because goals and needs shift as different life stages begin. A perfectly balanced budget could be smashed to pieces by the birth of a child or an unexpected illness, so a financial plan and corresponding investing plan need to be malleable. No one will have completely smooth spending over their lifetime, but if you can balance borrowing and saving, along with your risk tolerance and time horizon, you’ll have […]

Finding an investment strategy that is right for you and your investment plan can be difficult. There are many variables you will want to pay attention to. And the investment strategy that is best for someone else you know might not necessarily be compatible with your goals and constraints. As you determine what strategy is best for you, it’s important to consider what you hope to achieve. Are you focused on short-term growth? Are you trying to build a retirement […]

With this year’s tax deadline around the corner, you may be reviewing your taxes now and identifying opportunities to lower your bill next year. One opportunity to improve tax efficiency is by carefully reviewing your investment plan with an investment advisor. A careful review of your investment activity for 2020 could reveal possible steps to take in 2021 to minimize your tax obligations come April 15, 2022. 1) Understand Income vs. Long-Term Capital Gains The first step toward understanding your […]

There are many types of retirement plans available to residents of Buffalo Grove, IL, so how do you know if you’re using the right retirement plan? Retirement planning has always been difficult, but these days it has only become more challenging. In addition to growing uncertainty related to receipt of Social Security payments, the ever-expanding array of retirement options available can make it difficult to decide which plan is right for you. So how do you know which retirement plan […]

Retirement planning can be an uncomfortable topic to discuss, but it’s far less uncomfortable than the alternative – running out of money when we’re no longer able to work full-time. You likely already know the most important retirement plan maxims: invest early, avoid excessive fees, and let the power of compound interest work for you. Combine those three maxims with these ways to boost your retirement savings. 1) Start saving for retirement now. Inertia is powerful. Remember your high school […]

There are critical steps you need to take for retirement planning in your 50s. That’s because, in the United States, the average retirement age is 62. In fact, about 64% of all Americans decide to retire between the ages of 55 and 65, meaning that your 50s will likely be a very important time for tying up loose ends and preparing for retirement. There are quite a few things that can make retirement planning difficult for anyone, including our neighbors […]