Income Planning vs. Asset Planning: Why Both Matter in Retirement
Understanding the Difference Between Building Wealth and Creating Retirement Income Throughout much of your working years, financial planning is often centered on building assets. Saving consistently, contributing to retirement accounts, and growing investments are common priorities as you prepare for the future. As retirement approaches, however, the focus often begins to shift. Instead of asking, […]
How to Use Financial Benchmarks to Measure Progress
Financial Benchmarks: Measuring Success Based on Your Goals, Not Someone Else’s It’s natural to compare your financial progress to friends, family members, coworkers, or headlines in the news. You may wonder whether you’re saving enough for retirement, investing enough each month, or building wealth as quickly as others. While comparing financial benchmarks is common, it […]
Understanding Capital Gains: Short-Term vs. Long-Term Impacts
Understanding Capital Gains: How Holding Periods May Influence Investment and Tax Planning Decisions Buying and selling investments is a normal part of many financial plans, but the timing of those transactions can affect more than portfolio performance. It may also influence how investment gains are taxed. Understanding the difference between short-term and long-term capital gains […]
How to Evaluate Investment Risk Tolerance the Right Way
Understanding the Difference Between Risk Tolerance, Risk Capacity, and Financial Goals One of the most common questions investors face is how much risk they should take on with their investments. While many people focus on market performance or investment returns, understanding personal investment risk tolerance is often a foundational step in developing an investment strategy. […]
Tax Diversification in Retirement: Why Balance Matters
Tax Diversification in Retirement: Building Flexibility for Future Income Needs When most people think about tax diversification in retirement, they think about investments. Diversifying among stocks, bonds, and other assets is a common strategy for managing risk within a portfolio. However, diversification can extend beyond investments alone. Tax diversification is another important consideration, particularly for […]
The Benefits of a Written Financial Plan (and What It Should Include)
Why Putting Your Financial Strategy in Writing Matters Many people have financial goals. They may want to retire comfortably, reduce debt, save for education, purchase a home, or leave a legacy for their family. However, goals alone do not always create a roadmap for achieving them. A written financial plan can serve as a guide […]
Planning for Longevity: Financial Considerations for Longer Lives
Planning for Longevity: Preparing for a Retirement That May Last Decades Retirement today often looks different than it did for previous generations. Advances in healthcare, improved living conditions, and increased awareness of healthy lifestyle habits have contributed to longer life expectancies for many Americans. While living longer can create opportunities for additional experiences and time […]
The Pros and Cons of Consolidating Investment Accounts
What to Weigh Before Bringing Your Accounts Together Over time, it is common to accumulate investment accounts across multiple institutions. You might have a 401(k) from a previous employer, an IRA opened years ago, a brokerage account at one firm, and a current workplace retirement plan at another. Before long, your financial picture can feel […]
How to Prioritize Multiple Financial Goals at Once
A Practical Framework for Moving Forward When Everything Feels Important Many people are working toward more than one financial goal at a time. You may be building an emergency fund while also contributing to retirement, paying down debt while saving for a major purchase, or supporting a child’s education while trying to stay on track […]
Understanding Investment Styles: Growth vs. Value vs. Income
Understanding Investment Styles: Exploring Different Approaches to Investing Investing is not a one-size-fits-all process. Different strategies, often referred to as investment styles, reflect varying goals, time horizons, and approaches to risk. Three commonly discussed styles are growth, value, and income investing. Each approach has distinct characteristics and may play a different role within a diversified […]