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The Role of a High-Yield Savings Account in Retirement
A high-yield savings account has long been a go-to tool for savers looking to earn a little extra interest on cash reserves while keeping funds accessible. But the role it plays can shift dramatically as you move from your working years into retirement. While higher interest rates compared to traditional savings accounts can make it attractive, it’s important to understand [...]
“How to Make $100K Work for You in Retirement”
Why Retirement Money Needs a Different Strategy One of the biggest shifts in retirement is this: money takes on a new purpose. During your working years, the goal was to grow your savings. Now, the question becomes, how do I use what I’ve saved to support my lifestyle, cover expenses, and help make it last? That’s why so many people [...]
When Should I Plan for Long‑Term Care?
While it’s not easy to think about, as we age, we may not always be able to manage everything on our own. When daily activities become too difficult, long-term care helps provide the assistance we may need with tasks such as bathing, dressing or eating. Though it isn’t covered by standard health insurance or Medicare, nearly 70% of Americans turning [...]
How Do I Know If I Need an Estate Plan?
If you’ve ever thought estate planning is only for the ultra-rich or you can wait until later in life, you’re not alone. But estate planning is important to consider at any age and is a fundamental part of a comprehensive financial plan. And it’s not just about what happens to your belongings when you’re gone! How can estate planning help [...]
How Can I Recession-Proof My Retirement?
When people think about retirement, they often imagine years of relaxation and freedom. But for many retirees and pre-retirees, that vision comes with an underlying concern: what happens if the market takes a downturn? Recessions are an unavoidable part of the economic cycle, and while you can’t control when or how severe they are, you can take steps to prepare. [...]
Will My Income Keep Pace with Inflation?
Retirement is supposed to be the time when you finally get to enjoy the fruits of your hard work. But one of the most common concerns retirees share is whether their income will be enough—not just today, but 10, 15, or even 20 years from now. Inflation doesn’t just raise prices in the short term; it compounds over time, quietly [...]
What Is a Required Minimum Distribution (RMD)?
If you’ve spent decades building up your retirement savings in tax-deferred accounts, you may have heard the term Required Minimum Distribution (RMD). But what exactly does it mean for you, and why is it so important to plan for it? Let’s break it down. What is an RMD? An RMD is the minimum amount you must withdraw each year from [...]
Hidden Retirement Costs—What You Don’t Plan for Can Impact Your Finances
Hidden costs are the expenses that don’t make it into your retirement spreadsheet—but still show up in real life. They include things like rising healthcare bills, inflation, home repairs, and financial support for family. While not necessarily “surprise” expenses, they’re often underestimated or completely forgotten in retirement planning. How much can hidden costs affect my retirement financial stability? How worried [...]
