3 Common Business Succession Myths

Are you a business owner without a succession plan? If so, you’re not alone. According to a recent poll from Nationwide, 60 percent of small-business owners don’t have a succession plan in place. Among those without one, nearly half believe such a plan isn’t necessary.1 If you don’t have a succession strategy, you could be

4 Tips to Help You Manage Health Care Costs in Retirement

Approaching retirement? If so, you may be surprised to learn that one of your biggest expenses could be health care. Many retirees assume that Medicare will cover most of their medical expenses. While Medicare is a valuable program, it doesn’t cover everything. According to a recent study from Fidelity, the average married couple will pay

3 Tips to Protect Your Retirement Savings

Worried that you won’t have enough money for retirement? If so, you’re not alone. According to a recent study from Gallup, retirement is a major worry for many Americans. The study found that 54 percent of respondents were worried that they won’t have enough money to fund their retirement.1 There could be good reason for

Is the 4 Percent Retirement Rule Always Right?

If you’re like most retirees, you’ll need some level of income from your savings and investments to fund your lifestyle after you stop working. While you will likely have Social Security income and possibly even a pension, it’s likely that you may also need income from your savings. The challenge is in determining how much

Don’t Let Inflation Sink Your Retirement

Do you have a strategy to keep up with inflation in retirement? If not, you may struggle to fund your living expenses over the long term. Inflation is the incremental increase in the price of goods and services from year to year. As the economy expands—and wages and earnings increase—so, too, do prices. The inflation

The Disappearing 401(k): Are You at Risk?

Since its inception nearly 40 years ago, the 401(k) has become one of the most commonly used retirement savings vehicles. It’s popular with employers because it relieves them of the burden of funding a pension. The 401(k) plan is popular with employees because it usually offers a broad range of investment options, tax-deferred growth and

How to Build Your Retirement Budget

Are you approaching retirement? If so, you may be in the final stages of wrapping up your career and planning your income strategy. You might be assessing your investments, considering when to file for Social Security or even reviewing your Medicare options. However, one step you may not want to ignore is the development of

Late Start on Retirement? 3 Tips to Help You Catch Up

A recent study from the Economic Policy Institute found that many Americans are behind on their retirement savings. According to the study, the average family between the ages of 44 and 49 has only $81,437 saved for retirement. That number is $124,831 for those between ages 50 and 55 and $163,577 between ages 56 and

Include These 3 Items on Your Annual Financial Checklist

The new year is here. It’s the perfect time to analyze your financial situation and develop a list of action items. A regular annual financial checkup can help you stay on top of potential risks and on track to meet your biggest financial goals. Ready to start your year with a financial review? Below are

Check These 3 Items Off Your Retirement Planning Bucket List

Do you have a bucket list? A bucket list includes all the things you want to do before you “kick the bucket.” Many retirees have a bucket list that includes things like traveling to new destinations, pursuing a favorite hobby or spending time with family and friends. Of course, the only way to check off