Take Charge of Your 401K – Part 3
Cashing Out In our last blog, we talked about taking your 401k to a new job. Another choice is to liquidate your old plan and receive the money directly. While it can be tempting to see your savings as a quick source of cash, cashing out may result in penalties and taxes. Your 401(k) plan […]
Why You Should Never Write Your Own Will
Ever considered writing your own will? While you can draft a will on your own, there are plenty of reasons why you may not want to go that route. Most people do it to save money, but they may overlook or forget to take care of some important details – details that could eventually cost […]
Take Charge of Your 401K – Part 2
Taking Your Plan to Your New Job One of the best arguments in favor of rolling over your old retirement plan is that it can help simplify your life. In our experience, investors tend to lose track of accounts that aren’t right in front of them. Life gets busy, and failing to modify your investment […]
Take Charge of Your 401K – Part 1
HAVE YOU EVER SWITCHED JOBS? Research shows that the average American employee switches jobs over 12 times by the time they turn 54. Changing jobs can mean that many Americans have old 401(k) plans, which may not be properly positioned to help them prepare for retirement. Every time you change jobs, you have some choices […]
5 Benefits of Working in Retirement
5 Benefits of Working in Retirement In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 30.7 percent by 2031, up from just 25.8 percent in 2021. As the Boomer […]
A Cheat Sheet for Sending Your Kid to College
College marks a great milestone in a child’s life. It may be the first time he or she will live away from home. Dropping off your child at college may be an experience loaded with emotions, so here are a few tips for a smoother transition. Accept that the Parent-Child Dynamic Has Changed Your child […]
Latest Social Security Predictions
Recently, you may have seen reports that the so-called “depletion date” for Social Security was adjusted. This refers to the predicted date when the long-running program will no longer be able to pay full benefits. Barring action from Congress, the Treasury Department predicts that 80% of benefits will be paid by 2034. This is one […]
Weekly Market Insights: Banking Crisis Fears Dim; Markets Rally
Stocks rallied last week on receding fears of a widening banking crisis, led by resurging investor interest in technology and communication services names. The Dow Jones Industrial Average gained 3.22%, while the Standard & Poor’s 500 added 3.48%. The Nasdaq Composite index rose 3.37% for the week. The MSCI EAFE index, which tracks developed overseas […]
Words Of Wisdom From Warren Buffett
The stock market can provide some head-scratching moments, which is why I like Warren Buffet’s quote, “…don’t watch the market closely.” Stocks have been strong this year, and they rallied sharply before and after the February Fed meeting, which ended Wednesday, February 1. But the following day, after the market closed, a handful of Wall Street’s […]
Recession Fears Fading?
Investors put the economy on recession watch when the Fed started its “higher in a hurry” push with short-term interest rates in mid-2022. After the 10-year/2-year Treasury curve inverted in July 2022, it was “all aboard” the recession bandwagon. Then the business community followed suit, with CEOs hunkering down and preparing companies for a slowdown […]
A Decision not Made is Still a Decision
Whether through inertia or trepidation, investors who put off important investment decisions might consider the admonition offered by motivational speaker Brian Tracy, “Almost any decision is better than no decision at all.” This investment inaction is played out in many ways, often silently, invisibly, and with potential consequences to an individual’s future financial security. Let’s […]
Bond Market vs Feds: Who is Right?
What does the bond market know that the Fed isn’t telling us? The Fed sees short-term interest rates over 5 percent, but the bond market says that’s too high, expecting that short-term rates will top out at 4.5% in 2023. Who’s right?
New Retirement Contribution Limits For 2023
The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels. Keep in mind that this update is for informational purposes only, so please consult with an accounting or tax professional before […]
Traditional vs. Roth IRA
Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 36.6 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 27.3 million households.1 Both are IRAs. And yet, each is quite different. Up to certain limits, traditional IRAs allow individuals […]
Stubborn Inflation Tests Fed’s Resolve
Stubborn doesn’t seem like a strong enough word, but that’s how Fed officials are describing inflation. Inflation’s “stubbornness” has been on full display in recent weeks: First, the Producer Price Index (PPI) showed that costs remain high for producers of goods and services. Then in September’s more widely followed Consumer Price Index (CPI) high prices […]
Weekly Market Insights: U.S. and U.K. See Financial Turbulence
Rising recession fears and uncertainty in the bond and currency markets sent stocks to new 2022 lows last week. The Dow Jones Industrial Average declined 2.92%, while the Standard & Poor’s 500 slumped 2.91%. The Nasdaq Composite index fell 2.69%. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.94%.1,2,3 A Tumultuous Week […]
Weekly Market Insights: Fallout From Powell Comments Continues
Last week, Fed Chair Powell said the U.S. would not tame inflation without economic pain. This week heightened recession fears and sent stocks broadly lower. The Dow Jones Industrial Average dropped 4.00%, while the Standard & Poor’s 500 lost 4.65%. The Nasdaq Composite index fell 5.07% for the week. The MSCI EAFE index, which tracks […]
Student Loan Relief- Important Details
The White House recently forgave up to $10,000 to student loan borrowers as part of a larger debt forgiveness program. There are still quite a few questions to be answered, but here are some key points to know. Pell vs. non-Pell: Loan forgiveness of up to $10,000 is available to non-Pell Grant recipients and up […]
Let’s Review Your Life
Life doesn’t stand still. Neither do your life insurance needs. If you have a quote or policy and haven’t reviewed it lately, you may be surprised to discover that what worked for you then may not meet your needs now. Luckily, going over your life and matching it with your life insurance just takes a […]
Are You Ready for a Windfall? 1.02 Billion Reasons to Be Prepared
What would you do with a windfall? It’s a question I’ve read or heard a lot lately. Considering the Mega Millions jackpot has now grown to $1.02 billion, it’s safe to say most of us have thought about what it would be like to win. While winning the lottery is far from likely (odds this […]
3 Shrewd Maneuvers in a Down Market
It’s natural to think “defense” during a bearish market season. But why not mix in some “offense” with your defense? Here are three moves we can discuss together that may be helpful during the current market downturn. Invest Your Excess Cash: If you have excess cash earmarked for a long-term goal (retirement or college, for […]
Your Personal Finance Calendar
Use this handy calendar to remember the year’s most important financial dates. Take a look at your “sources and uses” of money. Is it what you expected, or are you considering making adjustments? Don’t forget second-quarter estimated income tax payments are due by June 15. Refresh your money skills. Add at least one book on […]
Helpful Retirement Strategies for Women
Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. Research shows that 31% of women are currently […]
Personal Finances and Inflation
If you have a balance on a credit card or an adjustable rate mortgage, you might be noticing changes in your payments. Higher interest rates are starting to ripple through the personal finance landscape, and it doesn’t look like that trend will change anytime soon. The Federal Reserve has indicated it plans to keep raising […]
Weekly Market Insights, April 18, 2022
Stocks posted losses in a holiday-shortened trading week as the first-quarter earnings season kicked off and investors digested new inflation data.The Dow Jones Industrial Average declined 0.78%, while the Standard & Poor’s 500 fell 2.13%. The Nasdaq Composite index dropped 2.63% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost […]
Inflation Math for Today’s Retiree
Retirement brings excitement as well as many concerns. You may have heard the saying, “inflation hurts savers and benefits borrowers.” The expression suggests that borrowers benefit from inflation because they pay back lenders with dollars worth less than when the money was initially borrowed. But for savers, your hard-earned dollars may lose buying power over […]
Monitoring the Fed and Interpreting Economic Signals
The Russian invasion of Ukraine has made the Fed’s interest rate decision a little more complicated. The Fed appears set to raise interest rates by 0.25% at its March meeting. Up until recently, there was talk by Fed officials that the economy needed a 0.5% bump to help manage inflation. Energy prices have been rising […]
3 Estate Challenges for Blended Families
Preparing your estate can be complicated, and if you’re a part of a blended family, estate decisions can be even more complex and nuanced. Blended families take on many forms, but typically consist of couples with children from previous relationships. Here are a few case studies to help illustrate some of the challenges. Case Study […]
Warren Buffet on Volatility
If you’re concerned about today’s market volatility, you might take some comfort from one of my favorite quotes by Warren Buffett. “I would tell them don’t watch the market closely,” said the Oracle of Omaha. Buffett’s quote was from 2016 when the markets were wrestling with Brexit, China’s economy, and, coincidentally, the Federal Reserve’s interest […]
Retirement, Seen Through Your Eyes
How do you picture your future? Some see retirement as a time to start a new career. Others see it as a time to travel. Still others plan to spend more time with family and friends. With that in mind, here are some things to consider. What do you absolutely need to accomplish? If you […]
Translating the “Fed Speak”
Most people have heard about the Federal Reserve, but I’ve found that few understand the many roles it plays in the overall economy over the years. The Fed makes headlines every few weeks by updating investors on what’s going on with interest rates. Most recently, the Fed said it’s prepared to raise interest rates next […]
2022 IRA Contribution Limits
Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022. Staying put for 2022 are traditional Individual Retirement Accounts (IRAs), with the limit remaining at $6,000. The catch-up contribution for traditional IRAs remains $1,000 as well.1 For workplace retirement accounts (i.e. […]
How Secure is Your Retirement?
Medicare’s annual open enrollment period begins October 15 and ends December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. Any changes to your insurance plan will go into effect on January 1, 2022.1 This is an opportunity to reassess your current coverage and identify potential […]
Growing Your High Net Worth Practice – Julie Murphy in Conversation with Jon Doyle
To kick off this interview with Julie Murphy, Managing Director, Senior Investment Consultant at City National Rochdale Investment Management Jon Doyle asks… “We’re really glad that you found us here at City National Rochdale. And thank you for that partnership. Let’s talk a little bit about your growth for a minute. Your practice has really […]
Essential Financial Figures | 2021
Stay organized and informed with this printable, newly updated resource of essential financial figures and dates for 2021. Click to download the full PDF version here to keep for your records. Any questions? Enter your information on the right side of the page to schedule your free consult today.
Is a SEP-IRA Right for Your Business?
If you’re like many small business owners, running your own business is an all-consuming endeavor. In the face of everyday demands, choosing a retirement strategy for your business can become a casualty. The idea of establishing a plan could evoke worries about complicated reporting and administration. If this sounds familiar, then you may want to […]
Weekly Market Insights March 8 2021
Stocks were mixed last week as rising bond yields and heightening inflation fears sent stocks on a wild ride, capped by a remarkable Friday afternoon rally. The Dow Jones Industrial Average gained 1.82%, while the Standard & Poor’s 500 increased by 0.81%. The Nasdaq Composite index fell 2.06% for the week. The MSCI EAFE index, […]
Prevent a Rift: Money Tips for Newlyweds
Research suggests that 70% of married millennial couples argue about financial decisions more than any other topic. This could explain why some experts say financial problems are one of the top reasons marriages fail.1,2 Fortunately, when couples work together to address their finances, they may be able to mitigate many of the problems money may […]
Markets Roiled by Recent Events
Recently, the world has watched with great interest as a few companies have seen surprising rallies in their stock prices. You may have read stories of individual investors gaining massive returns on their investments, thanks to this phenomenon. However, many of these same assets have quickly suffered steep declines following their initial boost.1 During times […]
Markets and Marriage
Your investment strategy is a lot like a marriage. One day you may feel like everything’s going swimmingly. The next day, there might be an argument over who forgot to load the dishwasher. And even the best marriages and partnerships have moments where one or both partners look around and go, “Is this as good […]
Smart Moves for the New Year and Beyond
When it comes to preparing yourself financially for a new year, starting early is often a smart move. For many Americans this winter, this may be doubly true. Considering the impact COVID-19 has had on the financial landscape, and the changes wrought by the CARES Act and the SECURE Act, there are some important items […]
Financial Holiday Gifts | What You Need To Know!
The magic of the winter season, a time when everything seems to sparkle just a little brighter, is upon us. It’s a time to gather with family and friends, whether in person or virtually, and to appreciate the bonds that bring us together. At this time of year, you might consider giving cash, stocks, or […]
2021 Tax Planning
UNDERSTAND WHERE YOUR FEDERAL TAX DOLLARS GO In this guide, we will explore where your tax dollars go and some of the ways tax filing may look different in 2021 as well as what you can do to prepare. Keep in mind, this guide is for informational purposes only and is not a replacement […]
Navigating Divorce
Experiencing a divorce is rarely something couples expect to face. Yet, inevitably, some marriages do unravel, affecting each partner’s financial life in the process. While divorce overall has been steadily decreasing, it’s still common in the U.S. In fact, among those 50 and older, the divorce rate has doubled since 1990, and tripled for those […]
Election 2020: Preparing for Any Outcome
As the U.S. presidential election draws near, expect to see more and more headlines that propose, “What will happen next if this person is elected?” or, “What policy changes should you prepare for in the next four years?” In reality, however, it isn’t easy to anticipate what may happen with the financial markets after the […]
6 Important Financial Strategies for Your 20s & 30s
Personal finance goals look a little different when you’re in your 20s and 30s. While your parents are focused on managing retirement, you might be navigating the challenges of paying off student loan debt, establishing yourself in a new career, buying a home, and having a family. You may think that you have all the […]
The Great Spending Balance
Love Your Life Today While Saving for Tomorrow Your financial life is a balancing act, strung between living in the present and preparing for the future. Saving for retirement may be a focus, but it could feel like you’re missing out living in the present. There are three key areas, however, where saving big and […]
Dow 30 Changes Its Starting Lineup
The Dow Jones Industrial Average (DJIA), one of the most widely followed stock market indices, has made some key changes to its starting lineup. Salesforce.com, Amgen Inc.and Honeywell International Inc. have replaced Exxon Mobil Corp., Pfizer Inc., and Raytheon Technologies Corp. The change went into effect before the market opened on Monday, August 31. It’s […]
5 Retirement Mistakes Small-Business Owners Make & How to Avoid Them
As a business owner, you face unique challenges and opportunities when building a financial future. This special report provides insights on mistakes to avoid and steps to take when building the retirement you desire—while managing your myriad of responsibilities. Small-business owners are an essential component of America’s economy. In the United States, 99.7% of all […]
Take Charge of Your 401K
HIGHLIGHTS INCLUDE: Powerful information that could potentially save you thousands in taxes and fees Tips to help put you one step ahead in your retirement preparations Critical mistakes that cannot be corrected (and how to avoid them) HAVE YOU EVER SWITCHED JOBS? Research shows that the average American employee switches jobs 12.3 times before retiring.1 […]