Will Retirement Be Better in the Future?
Retirement — like fads and fashion — changes with time. Those sprawling, cookie-cutter retirement communities in places like Florida that have been so popular for decades? Those are quickly falling out of fashion. Thirty years from now, you or your children could face a much different retirement than what today’s retirees experience. “As retirement continues…
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Stash That Cash (Anywhere But Your Mattress)
Have you heard the story about the contractor renovating a bathroom and finding more than $180,000 stashed in the walls?1 In times of economic uncertainty, people often rush to pull their money out of the market and convert it into cash. This is where we get the phrase “mattress money” — cash that’s been stashed…
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Downsizing in Retirement
If you’ve tuned into HGTV or any home renovation show in the past few years, you’ve likely noticed a new trend — the tiny house. These architectural wonders take the concept of less is more to a whole new level as they somehow combine minimalist living elements of luxury — all for a significantly reduced…
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February Digital Newsletter
FROM THE FOUNDER Where Do We Go From Here? As we look at what is ahead for 2023, the biggest topic in economics these days always revolves around the ‘R’ word – will we, or will we not have a recession? While of course no one knows for sure, it seems wise to consider what…
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Inflation, Interest Rates and the Economy
As inflation has soared to the highest levels in nearly four decades, the Federal Reserve has aggressively moved to try to cool an overheated economy. November of 2022 saw the Fed hiking interest rates by 0.75 percentage point for the fourth consecutive time. While no one can say for sure, the Fed does seem poised…
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RMDs in 2022
In 2020, the Setting Every Community Up for Security Enhancement (SECURE) Act increased the age for required minimum distributions (RMDs) from 70½ to 72. The purpose of RMDs is to spread out the tax burden associated with the years of tax-deferred earnings investors accrued in qualified retirement plans. If you expect RMDs to be an…
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Should Your Retirement Be Custom-Built?
Unbelievably, this year marks 25 years that I have been helping people plan for their retirement – most of that as a retirement financial advisor here in Columbia, SC. Over those years, I’ve talked about retirement planning with literally thousands of people; and I cannot remember a single time in which the person I spoke…
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The Nature of Risk
When you invest money, you are putting it at risk — all investments can lose money. The key is to gauge your risk, and to not put more money at risk than you are willing to lose. This is a relative concept. If you have only $10,000 to invest, then putting $9,000 in a high-risk…
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The Financial Stress Toll (of Late)
In a recent survey by the American Psychological Association, more than 80% of American adults said they were feeling increased financial stress due to: Furthermore, hardships related to the pandemic — including poor health, loss of loved ones, difficult work and family situations, isolation and inconvenience — have affected the entire nation and the world.…
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