No one likes to watch their investments lose money, but downward market volatility can feel particularly scary for people who plan to retire in the near future. Their anxiety is understandable. They’ve spent their careers building their nest eggs and now – at a time when they plan to give up their income-producing jobs – they face the prospect of living off less money than they had envisioned. Fortunately, it’s rarely as simple as that. As with all things financial, it’s important to look at the big picture. If you’re nearing retirement and worried about market volatility, keep these factors...

If you’ve been keeping up on news coming out of Washington, D.C., you know that Congress is once again grappling with a need to raise the federal government’s debt ceiling limit. Legislation to that effect would provide the U.S. Treasury with authorization to issue new debt to help cover the costs of programs already approved by Congress. This is a typically routine action that avoids the U.S. defaulting on its loans. However, given the polarized political climate and hardened positions on both sides of the aisle, Congress so far has not negotiated an agreement to raise the debt ceiling by the...

Investment markets are in a challenging period in which large swaths of the stock and bond market have lost value. You may have noticed the impact of this on your own workplace retirement savings plans, such as 401(k) or 403(b) accounts. While watching the value of your portfolio drop is never easy, investors must understand that markets can be volatile over short periods. Variable investments like stocks and bonds don’t move in a straight line – and occasional cooldowns are inevitable. It’s also worth remembering that if you’ve been investing in your workplace retirement plan for some time,...

Investors came off a difficult year in 2022 – stocks fell into a bear market (defined as a decline of 20%+ from peak highs) and the bond market lost significant ground, as well. The stunning jump in inflation after years of very low interest rates made matters worse. Watching your investments and the value of the dollar depreciate simultaneously wasn’t easy – and the prospect of more volatility ahead has many investors nervous. As a financial advisor, I’ve fielded many of the below questions from my clients that you may also be contemplating. Keep in mind that while there is no single solution...

The newly-enacted SECURE 2.0 Act contains significant changes that may affect how you plan for retirement. The bill, passed by Congress and signed into law by President Biden in late 2022, could help you bolster your retirement savings and income strategy. Here are some of the key provisions included in the new law, which are being phased in over the next several years: New rules now in effect Required minimum distributions (RMDs) start after age 73 Until recently, RMDs from traditional IRAs and workplace retirement savings plans, such as 401(k) or 403(b) accounts, had to begin after reaching...

Have you ever held off from making an investment because you’re concerned that the timing may not be right? If this fear is preventing you from investing, dollar-cost averaging is an approach that you may want to consider. It has the potential to help you accumulate wealth over time and throughout the market’s highs and lows. Here is an overview of the strategy. How it works The concept is simple – you invest a consistent amount of money at regular intervals. You put the money to work in the same investment – a stock, a mutual fund or other type of asset – regardless of the price of the asset....