Americans have lofty goals for their retirement, with the typical worker believing they need $1. 46 million to retire comfortably — a jump of 53% from their savings target in 2020, according to a new survey from Northwestern Mutual. The study found that the average amount held in a retirement account today is only $88,400, … Read more
Are you worried about what will happen to your retirement savings when you die? If your IRA is one of your biggest assets, like many people’s, you may be wondering how to make sure it goes to the right people and is used the way you wanted. That’s where an IRA trust comes in handy!. … Read more
Social Security Disability Insurance (SSDI) is a federal program that provides financial assistance to individuals who cannot work due to a severe, long-term disability. To qualify, applicants must have a medical condition that meets the Social Security Administration’s definition of disability and have earned enough work credits through their employment history. SSDI benefits are meant … Read more
Becoming a self-made millionaire is a goal for many, but often its shrouded in mystery and misunderstanding. While its no walk in the park, with the right mindset and strategies, its an achievable goal. I believe that the best path to becoming a self-made millionaire is through business ownership. By building a profitable business you … Read more
Retiring with enough money is a major concern for most of us While some folks aim for the million-dollar mark, others wonder if $600,000 might be enough to support their retirement dreams. I’ve spent a lot of time researching this question, and the answer isn’t as simple as yes or no – it depends on … Read more
You’re not the only one who has been working hard at the same company for 25 years and wants to quit. Many people do the same thing after 25 years. The good news is that you can often retire after 25 years of service, but there are a lot of things you should think about … Read more
Though pensions come in two types—defined-contribution and defined-benefit—the most common type of traditional pension is the defined-benefit plan. During an employees working years, the employer contributes to the plan. (With a defined-contribution plan, the employee does, too. ) After the employee retires, they receive monthly benefits for the rest of their life from the plan. … Read more
As a strategic partner who helps clients navigate and grow in changing circumstances, Tina is responsible for the direct management of the Citizens Wealth Management financial planning and estate planning team, including a team of CERTIFIED FINANCIAL PLANNERS™, estate and tax planners, and trust officers. Most people look forward to their retirement, dreaming of a … Read more
Understanding the Wash Sale Rule and IRAs: A Complete Guide Hey there! If you’ve been trying to be smart with your investments and tax strategies, you might have heard about this thing called the “wash sale rule.” But do you know how it affects your IRA accounts? This is super important info that could save … Read more
Mortgage lenders see far beyond your account balance in your bank statements. Your financial documents show your spending patterns, income stability, and overall financial health to lenders at the time you apply for a home loan. Most borrowers feel uneasy about sharing their detailed bank statements. However, knowing what lenders search for in these documents … Read more