Five Ways To Get The Most Out of Your 401K
As a financial advisor people often ask me, “How can I get the most out of my 401(k) before I retire?” The answer: try to minimize taxes while maximizing your returns. But how? Here are some suggestions:
As a financial advisor people often ask me, “How can I get the most out of my 401(k) before I retire?” The answer: try to minimize taxes while maximizing your returns. But how? Here are some suggestions:
Let's talk about the effect of inflation on your retirement lifestyle. Consider the inflation percentages for each of the last five years that are listed below.
Every January, it’s customary to look back at the year that was. What were the highlights? What were the “lowlights”? What got us to where we are today? What lessons can we learn from the past twelve months?
As a financial advisor, I get a lot of questions. Some people ask me if it’s a good time to invest in the markets, or if they should be sticking their money under a mattress. Others ask me about the economy. A few ask me about specific investments. But the most common question I get is probably the best.
Recently, an acquaintance of mine admitted that it was time to start thinking about retirement. “The problem,” he said, “is that I don’t even know where to begin!”
Until You’ve Learned How to Maximize Them. One of the biggest mistakes people can make when planning for retirement is failing to maximize their Social Security benefits.
A great philanthropist once said, “You don’t have to be a celebrity or a certain age to make a difference.” That philanthropist’s name is Ethan King, and as of this writing, he is fourteen years old.
Recently, I have been thinking about how when a chapter in our life closes, we so often look back and think, “I had no idea what I was getting into.” Take marriage, for example, or having a child. We usually think we know what to expect, but when it actually happens, we realize that in truth, we had no idea.
How many times do we take advice from the media before or instead of consulting a professional who understands our financial situations?
What is retirement? Is it a chance for you to travel the world, play with the grandkids, take up that hobby you have been putting off, or just relax and read a book? Yes, retirement can be all these things and more.