Retirement

Retirement often brings about changes in income, lifestyle, and healthcare needs.

Here are some common benefits that you might need to replace or consider in retirement:

Aug 9, 2023 · 2 min

US ‘pre-retiree’ households are unprepared to retire

Aug 3, 2023 · 1 min

If you're worried about having enough savings for retirement, there are a few things you can do:

Start saving early. The earlier you start saving, the more time your money has to grow.

Jul 18, 2023 · 3 min

Retirement Investment Approaches: A Guide for Post-Retirement Investing

When planning for retirement, it is crucial to evaluate your spending needs.

Jul 12, 2023 · 1 min

New Study Reveals Americans' Retirement Goals and Offers Tips to Calculate Your Own 'Magic Number.'

A recent study by Northwestern Mutual has found that Americans have a specific "magic number" in mind regarding their retirement savings—$1.27 million.

Jun 27, 2023 · 4 min

Ranked: The Best U.S. States for Retirement

Personal finance platform WalletHub has ranked the best U.S. states for retirement in 2023. They ranked each state using 47 metrics across three dimensions:

Jun 22, 2023 · 2 min

Tips for Discovering an Ideal Retirement Destination

A fantastic retirement place often boasts pleasant year-round weather and ample amenities for seniors.

Jun 20, 2023 · 4 min

Preparing to stay in your home during retirement involves several key aspects.

Financial planning: Review your financial situation and ensure you have enough savings and income to support your retirement lifestyle. Consider your mortgage, property taxes, insurance, maintenance, and living expenses.

Jun 15, 2023 · 3 min

Securing Your Future: The Importance of Retirement Saving

Retirement is an inevitable stage of life that promises relaxation, fulfillment, and freedom from work demands.

Jun 14, 2023 · 4 min

Using Retirement Funds to Buy a Second Home: What You Need to Know

There may be many reasons for using retirement funds to buy a second home. Whether you’re interested in a vacation property on the water or a rental property for investment purposes, buying a second home can be quite compelling.

Jun 8, 2023 · 7 min

Are you considering an early exit from the workforce and dreaming of an extended retirement?

While it may seem enticing, it's essential to recognize that a lengthy retirement can have its share of unexpected downsides. Let's explore three potential drawbacks you might have yet to consider, along with strategies to help you prepare for them.

May 30, 2023 · 3 min

Saving for retirement provides numerous benefits.

A substantial retirement fund can provide peace of mind, knowing you have a safety net to rely on when you retire. It alleviates concerns about financial instability and reduces stress, enabling you to enjoy your retirement years with greater peace and contentment.

May 18, 2023 · 2 min

2022 Spending in Retirement Survey: Understanding the Pandemic’s Impact on the Sources of Retirement Income

Similar to 2020, 7 in 10 said Social Security is a major source of income (Figure 8). Annual household income was positively related to reliance on Social Security as a major income source, where 82 percent of retirees with less than $30,000 in annual household income said Social Security is a major income source, as opposed to 45 percent of retirees with greater than $100,000 in annual household income. Additionally, those who are dissatisfied with retirement and those with poor self-reported health status (a score of 1, 2, or 3 on a scale of 1–10) are more likely to rely on Social Security as a major source of income (85 percent and 83 percent, respectively).

May 11, 2023 · 3 min

2022 Spending in Retirement Survey: Understanding the Pandemic’s Impact

Overall, more than half retired earlier than expected. The most common reasons for retirement were the ability to retire from an affordability standpoint (29 percent) and having a health problem or disability not related to COVID-19 (21 percent).

May 9, 2023 · 3 min

Saving money offers numerous benefits.

Enhancing Financial Security: Saving money is a financial safety net for emergencies, unexpected expenses, or income fluctuations. This can help you evade high-interest debts like credit card debts and provide financial security.

May 3, 2023 · 1 min

Let our financial advisors help you save more for retirement.

A financial advisor can help you create a personalized retirement plan that considers your specific financial goals, risk tolerance, and time horizon. They can also guide retirement savings vehicles such as 401(k) plans, IRAs, and annuities and help you select appropriate investments for your retirement portfolio.

May 2, 2023 · 1 min

Financial planning is essential at any age, but it becomes especially critical when you reach your 50s.

Overall, financial planning in your 50s is about maximizing your retirement savings and ensuring you're on track to achieve your retirement goals. Our financial advisors can help you navigate the complexities of retirement planning and create a plan tailored to your specific needs.

Apr 19, 2023 · 2 min

What are you saving for? Whatever it is, we can help keep you on track

Financial Freedom: Saving money can also lead to financial freedom. By having enough savings to cover your expenses, you can make choices about your career or lifestyle that you wouldn't have been able to make otherwise.

Apr 13, 2023 · 1 min

Retirement can be a challenging time for many people, and retirees face several potential risks.

Here are some of the key risks:1. Inflation Risk: Inflation is the increase in the cost of goods and services over time, and it can erode the purchasing power of retirees' savings. This means that retirees may need to withdraw more money from their retirement accounts to maintain their standard of living, which can be a challenge if their savings are insufficient.

Apr 3, 2023 · 2 min

Retirement planning is essential to ensure people have sufficient financial resources to support themselves during their retirement years.

Here's a timeline that shows when people should start planning for retirement and what steps they should take at each stage:

Mar 27, 2023 · 2 min

Income planning is essential to retirement planning

Income planning is essential to retirement planning, as it helps ensure you have enough money to support yourself during your retirement years. Here are some key considerations when planning for income in retirement:

Mar 17, 2023 · 2 min

How to Protect Your Retirement From Market Volatility

Protecting your retirement from market volatility is crucial because the value of your investments can fluctuate dramatically in a short period. Here are some tips on how to protect your retirement from market volatility:

Mar 14, 2023 · 2 min

Are you seeking a safe and secure place to grow your retirement savings?

Are you seeking a safe and secure place to grow your retirement savings? Look no further! At Duncan Williams Asset Management (DWAM), we specialize in helping people like you find a new home for their 401k. DWAM is locally owned and committed to making our community a better place for everyone. And our home is your home.

Mar 13, 2023 · 1 min

IRS Announces Record Increase To Retirement Plan Limits For 2023

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS today also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2023 in Notice 2022-55PDF, posted today on IRS.gov.

Oct 25, 2022 · 4 min