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 Wealth Wednesday

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Spending In Retirement: Why You Should Focus on Paying Off Your Mortgage Before You Retire

One of the most important elements of any retirement plan is what you spend. As you reach your fifties, one important goal to focus on is paying off your mortgage and other debt before you retire. Let's look at how the average American spends in retirement, and why not having those big debt payments can improve your chances for success.

Insights Retirement Planning Investing Financial Planning
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Long-Term Care Statistics to Know for 2024

A prolonged stay in a nursing home can be very expensive. For some, it could wipe out their retirement savings. Consider this, according to Morningstar, a 70-year-old couple who incur expenses for long-term care see their wealth decrease—on average—21% over nine years. As we get closer to retirement, it is something we should all be considering. Today, we tell you the statistics you should know about long-term care in 2024.

Estate Planning Insights Retirement Planning Financial Planning
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Estimating Your Retirement Spending the Easy Way - The 70% Rule

One of the most important elements of planning for retirement is understanding how much you will spend when you get there. Creating a budget is not a task most people enjoy. The tedious process of going through bank and credit card statements creates an obstacle to the planning process. If only there were an "easy button" to help you figure things out. As luck would have it, there is a useful guideline. Fidelity created some general guidelines to help people begin thinking about their retirement plans. Today we look at one of them: Using the 70% Rule to easily determine your retirement spending.

Insights Retirement Planning Financial Planning
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Updating Our Bond Models: Skate to Where the Puck is Going

When asked about his success as a hockey player, Wayne Gretzky is famous for saying, "I skate to where the puck is going, not where it has been." There have been some significant changes in the bond market. Interest rates and bond yields have increased significantly, and this has dictated a change to our approach in how we position the bond allocation of your portfolios.

Retirement Planning Investing Bear Market Financial Planning
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How Would a 20% Reduction in Social Security Benefits Impact Your Retirement?

There are big problems with the financial side of Social Security. Without legislative action, projections show that in 2033, people receiving Social Security benefits would face a 23% reduction in their annual payments. For most retirees that would be a tough pill to swallow. Today, we illustrate the potential impact it could have on your income and your savings.

Estate Planning Retirement Planning Financial Planning