Portfolio rebalancing, how to budget your money, what’s an HSA and who needs one? Preparing for retirement is hard. From personal finance basics to retirement planning and everything in between, we’ve got a few ideas to make life a little simpler. Contact MCF with any questions.
With the season changing and life ever pulling us forward, you may want to take into account life changes that may affect your financial goals.
With all of the advanced education and strategy tools available, it is still often difficult for employees to understand the difference between what they can save for retirement and what is needed to retire. Sometimes, it is helpful to see what your account will actually provide over the course of your retirement. It can also help you set an achievable goal.
The holidays are a time for giving, but often people can be a little overgenerous during this time of year and later find themselves in financial trouble. According to a survey by Country Financial 32 percent are feeling the greatest stress around holiday finances.
Designate or review your Retirement Plan account beneficiary. Unless you want the government to pick who your assets are distributed to, it is tremendously important to have a stated beneficiary appointed for your employer-sponsored retirement plan account.
When you hear Roth 401(k), Roth IRA, or just Roth, this is generally referring to a specific type of tax benefit your savings may receive. You pay taxes on Roth contributions for the taxable year in which they are made.
As people age, their spending patterns change, according to an analysis of Bureau of Labor Department data1. On average, US households under age 55 spend almost $58,000 a year on a wide variety of expenses.