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Financial Fact Friday: Robinhood wants to be your retirement fund, offering a 1% matchRobinhood, a stock-trading app tha...
01/06/2023

Financial Fact Friday: Robinhood wants to be your retirement fund, offering a 1% match

Robinhood, a stock-trading app that became a favorite of the "meme-stock" crowd during the pandemic, has a new proposition: Open an Individual Retirement Account with the service and it will match 1% of the funds customers contribute.
The company, which rolled out its new retirement savings program in December 2022, said it is the only IRA provider to offer a match on investments — a feature that is typical in many employer-based 401(k) programs. In such plans, an employer will typically match a worker's 401(k) contributions up to a limit, often between 3% to 6% of their annual salary.
According to Census data, such matches are typically only available as an employer-sponsored benefit, and only 1 in 3 Americans has access to a corporate retirement plan.

(Source: CNCB News)

FACT or FICTION: New survey results suggest that investors grappling with today's economic environment are feeling incre...
01/05/2023

FACT or FICTION: New survey results suggest that investors grappling with today's economic environment are feeling increased pressure on their retirement plans and are facing more uncertainty about when they will be able to retire.

FACT: According to the Nationwide Retirement Institute’s eighth annual Advisor Authority survey, inflation has led both women (38%) and men (26%) to rethink when they can retire. The number of men and women with near-term retirement plans is extremely low. Just 2% of men and 1% of women plan to retire within the next five years. Women (44%) are more likely than men (28%) to agree that signs of inflation and recession have made them rethink where they can retire.

(Source: ASPA)

For many Americans, the idea of "retirement" still includes some type of work. More and more Americans are extending the...
12/12/2022

For many Americans, the idea of "retirement" still includes some type of work. More and more Americans are extending their careers into their late-60s. Some are taking part-time jobs to supplement their retirement savings and Social Security, and some see it as a way to stay active and keep their minds sharp.
Earning income from a job in retirement certainly has its benefits, but there are also some drawbacks to be aware of.

(Source: Buffalo News)

Thinking retirement? We are too. Let’s come up with a plan!
12/12/2022

Thinking retirement? We are too. Let’s come up with a plan!

Financial Fact Friday: Your Retirement Is on Track?Nearly three-quarters — 73% — of American workers surveyed say they’r...
12/09/2022

Financial Fact Friday: Your Retirement Is on Track?

Nearly three-quarters — 73% — of American workers surveyed say they’re “somewhat confident” they’ll have enough money to live comfortably in retirement. That includes 28% who are “very confident” they’re on the right track for retirement, according to the 2022 Retirement Confidence Survey conducted by Employee Benefit Research Institute (EBRI) and Greenwald Research.

(Source: MSN)

FACT or FICTION: Are Their Retirement Funding Goals Ought to Hit by Age 50?FACT: The approach of a milestone birthday is...
12/08/2022

FACT or FICTION: Are Their Retirement Funding Goals Ought to Hit by Age 50?

FACT: The approach of a milestone birthday is a reminder that, as life changes, so do your needs and circumstances.
The question is settled: You’re no longer a kid. And that’s a great thing because maturity is much better than it’s cracked up to be.
So, instead of dreading it, use this birthday to update your financial life by hitting the following targets.

(Source: MNS)

A nice, fat IRA, which certainly seemed like a worthwhile goal 30 or 40 years ago, today is doing many retirees and near...
12/07/2022

A nice, fat IRA, which certainly seemed like a worthwhile goal 30 or 40 years ago, today is doing many retirees and near-retirees no favors. All of this supports the idea that RMD planning should anticipate its necessity.

(The Wall Street Journal)

Wealth Wednesday Tip # 981: Max out your IRA before the end of the yearIRA contribution limits are not nearly as high a...
12/07/2022

Wealth Wednesday Tip # 981: Max out your IRA before the end of the year

IRA contribution limits are not nearly as high as 401(k) or 403(b) limits, which could make it feel a bit easier to max out. In 2022, the contribution limit for IRAs was $6,000 for people under age 50, or $7,000 for those aged 50 and older. This limit applies to both traditional and Roth IRAs. As a refresher, traditional IRAs are contributed with pretax dollars, while Roth accounts use after-tax dollars, and both require contributions to be made with earned dollars (such as from wages or self-employment income).

(Source: Market Watch)

Reasons to pump the brakes on retirement. If you've been dreaming of retirement since you entered the workforce, you mig...
12/05/2022

Reasons to pump the brakes on retirement. If you've been dreaming of retirement since you entered the workforce, you might have a certain idea of what it looks like when you're no longer working. But there's a chance you might not start retirement when you thought you would, perhaps due to circumstances beyond your control. According to a recent survey by the Nationwide Retirement Institute, approximately 40% of workers are planning to push retirement later in life due to inflation. While life doesn't always go according to plan, would-be retirees can make the best of a bad situation by delaying retirement. So, if you're on the fence, here's why you might want to consider retiring later than you originally thought.

(Source: Insurance WSMT)

Are you ready to plan for retirement? Call us today to give you an insight.
12/05/2022

Are you ready to plan for retirement? Call us today to give you an insight.

Financial Fact Friday: IRS announces retirement plan contribution limitsThe 403(b) and 457(b) contribution limits have i...
12/02/2022

Financial Fact Friday: IRS announces retirement plan contribution limits

The 403(b) and 457(b) contribution limits have increased from $20,500 to $22,500 and the age 50 catch-up contribution is up from $6,500 to $7,500 for the 2023 tax year.
Employees wanting to enroll in a Supplemental Retirement Account or to make changes to an existing account should complete the electronic Salary Reduction Agreement.
The deadline to submit SRA changes or new account enrollments is 5 p.m. on Dec. 14.
Changes will go into effect on Jan. 13, the first paycheck in 2023.

(Source: Mountaineer News)

FACT or FICTION: Full retirement age is either 66 or 67.FICTION: For most Americans, the full retirement age is either 6...
12/01/2022

FACT or FICTION: Full retirement age is either 66 or 67.

FICTION: For most Americans, the full retirement age is either 66 or 67, depending on when they were born. But you can claim your Social Security benefits four or five years early at 62. But just because you can file for benefits doesn’t mean you should.
Depending on your birthday, you’ll receive only 70%-75% of your full benefits if you claim at 62, which, as an example, would leave you with somewhere between $700-$750 per month out of what should have been a $1,000 check. Surviving spouses would have their benefits reduced by 30%-35%.

(Source: Yahoo Finance)

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200 W State Highway 6 Ste 330
Waco, TX
76712

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