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Don’t Forget to Plan for Long Term Care
Long-term care planning is an important aspect of retirement planning that is often overlooked. As people are living longer and healthcare costs are increasing, it is crucial to consider the cost of long-term care in retirement planning. According to Forbes, one of the major healthcare costs as we age is long-term care, which is the extra help we need when [...]
An Investment Guide for IRAs
Investing in an Individual Retirement Account (IRA) is an excellent way to save for retirement. However, selecting the right investments for your IRA can be challenging. In this article, we will explore some strategies to help you choose the best investments for your IRA. Understand the Traditional and Roth IRAs First, it is essential to understand the two main types [...]
Succession Planning for Business Owners
For many years, you’ve been the captain of your ship. Running your own business hasn’t been easy and success was never guaranteed. Retirement planning is the next uncharted water for you, and there’s no one-size-fits-all map. Ultimately, when you own your own business, you must create your unique retirement strategy. This means setting up a succession plan for your business, and a [...]
Where Will Your Retirement Income Come From?
Once you’ve sold your business, you’ll need to make a lump sum of savings last for the rest of your life. This can be difficult, even for those who already have a substantial amount saved. Retirement can last for decades, and the risk of running out of money is very real, especially if we see high inflation and a volatile market. So what can you [...]
Taxes and Estate Planning
If you’re a business owner and know you eventually want to retire, make sure you understand how passing down or selling your business works. Business sales are increasing as more Baby Boomers retire and the potential for changes to the tax code may be partially driving the trend. As a business owner, it’s important to know what the rules are [...]
How The Coronavirus Shutdown Could Affect You in the Long-Term
Recent events have everyone wondering when a sense of normalcy will return. But the answer isn’t as simple as hoping for a date when stay-at-home orders will be lifted. No one knows if there is a long recession to come, or if the economy will bounce back in the near future. Although things may seem uncertain today, it’s important to [...]
“Never Bet Against America”
Although we’re living in an unprecedented time, it’s not the first time that America has seen a crisis. It’s important to remember that when people talk about recovery, it’s a question of “when” not “if.” America has gone through numerous wars and hardships and always come out stronger. This Memorial Day, many of us won’t be celebrating in the usual [...]
Far-Reaching Effects of This Pandemic on Social Security and Taxes
Long after the restaurants and hotels are open again, the economic impact of the COVID-19 pandemic will still be felt by many individuals and the country. During this time of widespread unemployment, less is collected in payroll taxes that fund Social Security, while emergency federal spending has increased significantly. Here are potential far-reaching effects of this pandemic on Social Security [...]
