Monthly Archives November 2018

Avoid Overspending this Holiday Season

It happens at the beginning of each holiday season. We all promise ourselves that we won’t overspend this year. We recall last January’s credit card statements with a pang of regret, and we vow not to let that happen again. We start off on a good note, and manage to avoid too much indulgence on Black Friday. After all, who actually likes fighting crowds and standing in endless lines? But then, toward mid-December, our will power breaks down. Or perhaps we simply get too busy and forget to keep track of everything. We’re traveling, we’re attending parties, we’re shopping… And
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Categories: Blog.
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Social Security COLA Can Cost Retirees Money

Last month, Social Security released the news that beneficiaries would receive a 2.8 percent bump in monthly payment amounts. That’s good news, in general, because a cost of living adjustment (COLA) helps retirees to keep up with rising costs of living. On the other hand, even a slight change in benefit amounts can trigger other consequences for beneficiaries. Depending upon their exact situation, some of those receiving Social Security payments might owe a bit more in taxes due to the increase. Let’s take a look at how that might work. Your income (including Social Security benefits) can be taxed based
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Categories: Blog.
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Should You Take that Early Retirement Offer?

In 2017, US companies offered early retirement, or “buyouts”, to nearly 5,000 employees. That number has lagged this year, but some analysts predict a surge of buyout options during the fourth quarter and continuing into the near future. If you’re age 55 or older, you could be offered an early retirement buyout at some point in the next few years… But should you take it? An early retirement can appear tempting, but make sure you’ve asked yourself the following questions: Where will my money come from? Without a regular paycheck, you have to generate income somehow. You won’t be eligible
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Categories: Blog.
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Smart Moves to Make with a Year-End Bonus

Now that Halloween is wrapped up and the end of the year approaches, things will start to get busy for most of us. If a year-end bonus falls into your lap, what would you do with it? One principle of behavioral finance is that we tend to follow through on plans we’ve made for money, before it is received. In other words, if you anticipate a potential windfall now, and create a strategy to put the money to good use, you’re less likely to give in to impulse spending and miss out on a valuable opportunity. So, what are some
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Categories: Blog.
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