​Commentary Presented by: Dana Dunkelberger
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“Figuring out how much money you need to retire is like one of those word problems from high school that still haunts you.” This week’s article tells us that “The retirement equation isn't unsolvable, but it's not a precise calculation, either. You'll need to revisit your retirement formula once or twice a year to make sure it's on track, and be prepared to make adjustments if it isn't. Weigh these four factors to get a better handle on how much money you will need to retire”. The beginning of a new year may be a good time to revisit your retirement figures. Let us know if you need to make adjustments. We’re always here to help.

Commentary Presented by: Dana Dunkelberger
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Did you know that according to one 2019 survey roughly 48 million Americans were still paying off 2018’s holiday debt by the 2019 holiday season? Therefore, it shouldn’t be surprising that a more recent survey conducted this year by Goldman Sachs found that 50 percent of Americans think gift-buying is the most financially stressful event throughout the year. So then, perhaps now is the time to make a change, in fact, another survey conducted by Experian “found that 84 percent of people were motivated to improve their finances during the last holiday season”. We’re here to help you do that. Call us, we may have some ideas you haven’t thought of that may improve your income during retirement years. Happy Holidays!

Commentary Presented by: Dana Dunkelberger
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This week’s article reminds us that notwithstanding the trials and tribulations of the pandemic, one thing it does demand benefits us – Healthy Aging. There have been and will continue to be a number of wide-reaching implications which include not just direct health impacts; if the pandemic teaches us anything “it’s the importance of maintaining healthier and more vital bodies, especially as we age”. “It’s clear that active and therefore healthier aging can be powerfully linked to work – keeping our minds active and our bodies healthy.” This may mean a later retirement, or if yours was forced, it may mean a closer scrutiny of where to put your hard earned retirement savings. Call us, perhaps we can help you do that. That’s what we are here for.

Commentary Presented by: Dana Dunkelberger

​​I thought you would enjoy this week’s article as it explains the old “marshmallow test” in answering the question of “should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then?” You may ask “What do Social Security benefits and marshmallows have in common? When placed squarely in front of most people, both are hard to resist.” “Almost everyone knows about the famous “marshmallow test.” In the late 1960s, Dr. Walter Mischel of Stanford put marshmallows under the noses of preschoolers and asked them to wait 15 minutes before popping them in their mouths. Some were promised a reward if they “delayed gratification.” Most kids couldn’t go the distance. Similarly, Social Security benefits become available to most Americans at age 62, and people who retire in their early- to mid-60s tend to file for Social Security right away. Few retirees delay claiming until age 70, when the monthly benefit is as much as 76% higher than at 62. Experts at the Center for Retirement Research (CRR) at Boston College would like to help people stop treating Social Security like a marshmallow”. This might be easier said than done when we need an additional income. Call us, we may have some options that can help solve this problem. We’re always here to help.

Commentary Presented by: Dana Dunkelberger
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With one month to go until the new year, it might be a good time to reflect on the status of your retirement savings in order to better understand what your choices and needs will be in 2021. Take a look at this week’s article for a few retirement calculators. They help you to understand if you are saving enough to retire, and how tax options impact on your savings. After you’ve run a few different scenarios, call us if you’d like to discuss some options that may make a big difference in planning for your retirement. We’re always here to help.