Taking steps to be financially prepared for retirement isn’t something you can put off. Some strategies to save more include paying yourself first and to start investing at a young age.
As life changes, it’s important to review your life insurance to determine if it still meets your changed circumstances. Some events that can trigger a review of one’s coverage include marriage, divorce, new baby, home or business, just to name a few.
When you anticipate and prepare for industry, regulatory and other changes that could affect your business, you increase the likelihood that your business will survive and prosper over the long term. Similarly, you’ll want to pay attention to changes in your business that could affect your personal financial or estate strategies.
As you get closer to retirement, your thoughts may turn to the day when you’ll finally be able to slow down and relax. But during the time that remains, take the opportunity to do all you can to ease your transition.
1. What are some things I should consider when I’m deciding whether to hold on to or sell an investment?
2. A few of my coworkers like to speculate on when the next bull or bear market will be. What makes a market a bull or a bear?
1. I have a life insurance policy that no longer meets my needs. I plan on buying a different policy. Should I cancel the existing policy before I buy the new one?
2. I was the beneficiary of a life insurance policy and recently received the policy proceeds in a lump sum. I’d like to invest the money but first want to find out if the policy payout will be taxable to me?
1. Can employers claim a tax credit for the costs of setting up a retirement plan?
2. I want to buy disability insurance for two employees. Why have I been quoted very different premiums for each employee?
When I joined my employer’s retirement plan, I named a beneficiary to receive my retirement plan assets. Recently, I’ve decided that I want to choose someone else as the beneficiary. Is it possible for me to change my designated beneficiary and if so, how do I go about doing it?
Do you know where your retirement income will come from? It’s typically a good idea not to rely on a single source — especially Social Security — to provide the bulk of your retirement income.
Are you prepared for a large, unexpected expense? What would you do if the roof were to leak or you were to have a medical emergency? If you don’t have an emergency fund, building one should be a priority.
Resolving to get financially fit is a great way to start 2018. A good place to start is to develop some healthy money habits, like tracking your spending and limiting credit card use.
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