Showing posts tagged with: %s
18Aug
Retirement Accounts Made Easy! – Part 1
Retirement

Retirement EggsRecently we have received multiple inquiries regarding both contributions limits and withdrawal options from retirement accounts.

Therefore, I thought I’d create a handy reference guide for our clients and friends.  Because of the length of the information, please watch for all three parts of this blog.

PART ONE covers traditional and Roth IRA’s.  PART TWO includes 401(k)’s, 403(b)’s, SEPS (simplified Employee Pensions) and Simple IRA’s.  I’ll conclude the series with Inherited IRA’s.

I hope that you find this to be of value and, as always, welcome any questions or comments.

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11Aug
When Life Shifts
Issues of Aging

Resonate

The Resonate team understands that change happens to us all and that the key to managing change well is all about one’s mindset.

For example, when “life shifts” for you, how do you feel and what do you say to yourself?

Compare “I have no idea how I’ll survive this,” to “I’ll find a way through this.”

“This is just too much; I am totally overwhelmed,” to “I am strong enough to make it through this day.”

One of the key actions people take who handle change well is that they choose to stay in control rather than give in to the powerful emotions caused by the change.  This is not to say those people shut down and stop feeling, rather they choose to feel and also to monitor the messages they give themselves in the midst of the transition, (Examples of this are above.)

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13Jul
Common Retirement Misconceptions Can Derail Retirement Dreams
Issues of Aging

As I hold conversations with client about their retirement dreams, certain misconceptions seem more prevalent than others.  Today, I have chosen to list the misconception along with the facts.

  1. “My spending patterns won’t change much when I retire.”

The reality is that, assuming you live long enough, everything will cost more in retirement. Retirees spend disproportionately more on items such as health care.  Housing can also cost more if the current house is paid for and the new retirees decide to add a second home, to relocate or need the services of a retirement community.

(Source: Consumer Price Index; January 1981 through December 2015 through JP Morgan.)
  1. This misconception is a combination of “I’ll continue to work during retirement,” and “I don’t have to retire until I am ready.”

While 67% of employed Americans plan to work beyond age 65, only 27% actually achieve that goal.

Here are the top three reasons that cause people to retire earlier than planned.

  • 60% of the people who intended to work beyond 65 cannot due to health reasons.
  • 27% cannot keep working because the current employer either downsized or closes.
  • 22% of the time, the person intending to work has to quit to provide care of a spouse or family member.
(Source for this section #2 is Employer Benefit Research Institute, Matthew Greenwald and Associates. March 2015 through JP Morgan.)

One of the key benefits of working with a professional is, in addition to knowing the truth, “plan for the worst and hope for the best.”

On behalf of Resonate, I invite you to review existing plans to see if they are still on track or to create your plan for the first time.

Barbara A. Culver
CFP®, ChFC®, CLU, AEP®
Resonate, Inc.
(513) 605-2500
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07Jul
Financial Planning for Divorced Women
Women / Widows

The steps toward a post-divorce action plan…

A divorce is one of the most stressful circumstances a woman can experience. It can leave you feeling as if some things are beyond your control. Do not let that feeling interfere with your effort to maintain control over your financial life.

Financial planning after a divorce is not radically different than financial planning before a divorce. The basic principles are the same. The big difference comes down to how you start – or rather, how you start over.

Complete Article

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01Jul
Will Our Money Last as Long as We Live?
uncategorized

When tragedies such as shootings in the South Carolina church or the Orlando bar happen, people often question how long they might live.

While no one knows for sure, of course, here are some interesting facts from the October 9, 2014 USA Today article by Larry Copeland.

Life expectancy in the USA rose in 2012 to 78.74 years.

Life expectancy for a woman is 81.2 years and for men it’s 76.4 years.  That difference of 4.6 years has not changed from the 2011 figures.

Since we also know that 800,000 women become widowed each year in the U.S., this gives special reasons for women to be sure that their finances will be adequate to support them throughout life expectancy.

We work with all clients to answer the questions:

“Will our money last as long as we do?”

“What lifestyle can we afford?”

“Can we gift to our children and grandchildren?”

“Can we help our grandchildren with college expenses without hurting ourselves?”

These questions are especially important when one member of the couple has passed on.

The Resonate team is ready to listen to your questions and concerns and to partner with you to create solid, supportive answers.

Barbara A. Culver
CFP®, ChFC®, CLU, AEP®
Resonate, Inc.
(513) 605-2500
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28Jun
Women Retirement Challenges
uncategorized

A new study has raised eyebrows about the retirement prospects of women.  Download the article attached.

Do Women Face Greater Retirement Challenges Than Men?

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15Jan
Articles / Links
Economy
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