Financial Planning
Do Target-Date Funds Hit the Bull’s-Eye for You?
More than half of 401(k) participants have assets invested in target-date funds.1 These “all-in-one” funds are often the default option in workplace plans, and their apparent simplicity appeals to many investors. But target-date funds are not as simple as they appear to be. Like all investment strategies, they have strengths and weaknesses.
Focused on time
Target-date funds […]
How can I improve my credit report?
Most lenders use credit report information to evaluate the creditworthiness of potential borrowers. Borrowers with good credit are presumed to be more creditworthy and may find it easier to obtain a loan, often at a lower interest rate.
You can do a number of things to help improve what’s on your credit report, including the following.
Pay […]
How can I lower my credit card debt?
If you find that you are struggling to pay down a credit card balance, here are some strategies that can help eliminate your credit card debt.
Pay off cards with the highest interest rate first. If you have more than one card that carries an outstanding balance, one option is to prioritize your payments according to […]
Closing Gaps in Your Insurance Coverage
Buying insurance is about sharing or shifting risk, but you may think you’re covered for specific losses when, in fact, you’re not. Here are some common coverage gaps to consider when reviewing your own insurance coverage.
Life insurance
In general, you want to have enough life insurance coverage (when coupled with savings and income) to allow your […]
Tips for Targeting Your Retirement Savings Goals
What if you’re saving as much as you can, but still feel that your retirement savings goal is out of reach? As with many of life’s toughest challenges, it may help to focus less on the big picture and more on the details.
Regularly Review Your Assumptions
Whether you use a simple online calculator or run a […]
The SECURE Act Offers New Opportunities for Individuals and Businesses
The SECURE Act (Setting Every Community Up for Retirement Enhancement Act) is major legislation that was passed by Congress as part of a larger spending bill and signed into law by the president in December. Here are a few provisions that may affect you. Unless otherwise noted, the new rules apply to tax or plan […]
Retirement Tweaks
Worried you don’t have enough saved for retirement? The US Congress is, and that is why they passed legislation to encourage retirement savings.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, was signed into law by President Trump on December 20, 2019.
The new law makes some tweaks to retirement, rather than major shifts. […]
Should I Get Long-Term Care Insurance?
One of the most challenging aspects of planning for retirement is the unknown of long-term care expenses. These expenses include assistance for day to day needs, like eating, dressing, bathing, and using the toilet. According to the U.S. Department of Health and Human Services Administration on Aging. help like this will be needed, at least […]
Taxation of Social Security Benefits
How do you determine how much of your Social Security benefits are subject to taxes? Like most things’ taxation-related, it becomes difficult to follow.
Start by adding half of your Social Security benefits in any given year and add that amount to all your other income — including tax-exempt interest, which is otherwise […]
Changes to Tax Withholding
The Tax Cut and Jobs Act (TCJA) made it difficult for taxpayers to estimate how much tax should be withheld from their paychecks. Unfortunately, many under withheld and, as a result, either had to pay more or did not get as large of refund.
A new updated Form W-4 now reflects the changes of the TCJA. […]
