Every now and then it is important to take some time to inventory your retirement planning. If you own a Traditional IRA, for instance, you probably know your contributions may be tax deductible. Did you know that if you withdraw from that Traditional IRA early you must pay a 10% penalty in addition to income tax? [More]

One of the biggest misconceptions held by Americans is that Medicare will be there to help them if they have to move in to a nursing home someday. But the sad fact is that Medicare covers very little in the way of nursing home costs, and generally only if the reason for the stay is to receive specialized medical care. [More]

You’ve been planning your retirement for years: what you’re going to do, where you’re going to live, and how you’re going to pay for it. But knowing when it is time to retire can still be a very difficult decision. Here are a few questions to answer to help you decide if you are financially prepared to retire. [More]

A financial plan is a document that helps you determine how you’ll achieve the goals you want from life, as well as how you’ll meet your future financial needs. A thorough financial plan looks at every aspect of how finances affect you and your family, covering issues such as retirement, education, housing, medical needs, insurance and luxuries. It examines your present situation, spells out your needs, and decides what steps will allow you to meet those needs. A good financial plan also gives you benchmarks to use as targets, so you’ll be able to tell how much progress you’ve made. [More]

When it comes to investing, emotions and anxiety run high. One mistake can cost you thousands. With a good plan in place, you can rest a little easier. Here are some investment mistakes to avoid. [More]

Most of us work hard throughout our lives, and hope that what we’ve earned continues to provide benefits after we’re gone. Whether you want to help your children or grandchildren, or whether you’d like to see your hard-earned savings help a cause that’s important to you, you’ll be more likely to achieve those goals if you take some time to plan. [More]

What are the biggest retirement planning mistakes people make? Retirement is decades away, so why should I think about it now? [More]

Alliteration aside, there are many tax trimming tactics you can incorporate throughout the year. [More]

Ask any financial advisor when you should start saving for retirement, and you can expect to hear the same answer: yesterday. No matter what your age, you should be saving and investing money to meet your needs during your retirement years. However, your strategies should change over the years to match your changing needs. [More]