Employee-Established Retirement Vehicles For business owners, retirement planning can be challenging, but don’t worry, we’ll break it down into manageable pieces. Individual Retirement Account (IRA) Think of an IRA as your personal retirement piggy bank. There are two main types: Traditional IRA: With a Traditional IRA, you contribute pre-tax income and then pay taxes […]
As the primary retirement program in the United States, Social Security currently benefits 66 million people, 51 million of them retirees and dependents. It also serves 8 million workers with disabilities and 5 million survivors of deceased workers. The program began with the Social Security Act in 1935, part of President Franklin Roosevelt’s “New Deal” […]
Millions of people anticipate the day they will retire—when they can finally engage in the activities they’ve always wanted to do, such as reading, golfing, hiking, traveling, or simply completing a jigsaw puzzle. Wouldn’t it be amazing to enter that stage of life even earlier than anticipated? While early retirement may not be feasible for […]
Retirement Planning Checklist If you’re planning on retiring in 2024, the countdown is on! The new year brings new planning needs, especially if you’re retiring in the next year or so. There are many moving parts to preparing for retirement. Here, we share a 12-step retirement planning checklist to help you prepare for retirement over […]
One of the most important things to consider when planning for retirement is what kind of lifestyle you want to live. Retirees are rarely interested in giving up all their worldly possessions and moving to a remote island in the Pacific. Most people love the lives they’ve built for themselves and want to keep their […]
By Jon Powell, CFP® As financial advisors, our work is about much more than just picking investments and managing your money. We want to help teach you how financial freedom can improve your day-to-day life and also help you set short-term and long-term goals for the future. One of those long-term goals for most people […]
By Jon Powell, CFP® Inflation is all over the news these days along with constant talk of how your purchasing power is being washed down the drain. If you’re like many of our clients, you’re probably wondering what this means for your government pension and if there’s any way to protect your savings. At Ferguson […]
By Jon Powell, CFP® With many kinds of retirement plans out there, it can be hard to tell the differences among them at first glance. Two of the most popular types of retirement plans offered by employers are the 401(k) plan and the pension plan. An employer typically provides one or the other, but not […]
For families contemplating retirement, the prospect of moving on to a new stage of life may feel even more uncertain than ever in light of the pressures and uncertainties brought on by the coronavirus. As advisors, we’ve come across two very common questions over the last few months from soon-to-be retirees:
A New Year (a new decade) is an opportunity to get things in order and make improvements. Every article published this week and last is a list of things to do to start the new year off right. Personally, I’ve already read more than I can count, so, I’ll keep this brief. Two financial and […]