Markets are swinging and fears are mounting. What does that mean as retirement looms? The final week of February was a brutal one for the stock market, as fears of a worldwide coronavirus outbreak sparked a massive sell-off. Now you’ll often hear that you don’t have to worry about losing money in a stock market downturn as […]
About Luke
Luke has 40 years experience in real estate transactions with a background in Construction, Property Management, Real Estate Brokerage, Mortgage Banking and Corporate Finance.Author Archive | Luke
3 Investing Facts About Required Minimum Distributions You Need to Know in 2020
Failing to withdraw a required minimum distribution (RMD) from your own or an inherited IRA by the deadline results in a big tax code penalty: 50%. That’s right. If you were supposed to take out a minimum of $4,000 and (oops!) did not do so, you have the privilege of writing the IRS a check […]
Retirees’ Top Financial Concerns All Revolve Around This 1 Thing
Hint: It’s something unavoidable for seniors. Though retirement is an exciting milestone to look forward to, the idea of it can be nerve-wracking. After all, there’s a host of financial unknowns associated with retirement, and living on a fixed income leaves many seniors struggling to make ends meet. It’s therefore encouraging to learn that 84% […]
SECURE Act a game-changer for retirement plans
The most significant legislation affecting retirement became law — as of Friday, Dec. 20. Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019. The law takes effect on Jan. 1, 2020. After stalling for months, Congress suddenly passed the bills as an attachment to […]
Mentors
Here is a good read we found on the subject of Mentors. This article is from the news organization CNBC and is titled: 31-year-old self-made millionaire: I spent $70,000 on mentorship in 6 months—here’s why it was worth it Go to the CNBC website to read the full article at: https://www.cnbc.com/2018/04/11/31-year-old-millionaire-i-spent-70000-on-mentorship-in-6-months.html For […]
6 things I wish I could tell my 20-year-old self about money
Your 20s are one of the most important periods in your financial life. It’s a time when you’re finishing college, starting a career, building credit, and making some of your biggest financial decisions. Are there things you can do right now to set yourself up for success later? Yes! I’m 27 now, and I already […]
How to financially plan for an Alzheimer’s or Dementia diagnosis
You or a loved one may have just received an Alzheimer’s or dementia diagnosis, and while you may ride waves of shock and sadness, your thoughts may also turn to how you’ll take care of your loved ones (and yourself) financially. Americans living with Alzheimer’s currently number 5.8 million. One in three seniors dies with […]
Real Estate Is Back as Americans’ Favorite Long-Term Investment
Real Estate Is Back as Americans’ Favorite Long-Term Investment Stocks have long been the most glamorous of the major asset classes. Many a Hollywood film has centered around making fast money in the stock market, and becoming a Wall Street big shot. But despite their great long-term returns—they’ve averaged […]
An easily overlooked investment account can give retirement savings a huge boost — if it’s used the right way
Health savings accounts are exactly what they sound like: savings accounts that can be used for expenses related to your health — now, in retirement, or any time in between. You must be enrolled in a high deductible health plan to contribute to an HSA, but you can open an HSA even if […]
Everything You Need to Know About Rolling Over a 401k Account
Everything You Need to Know About Rolling Over a 401k Account An employer-sponsored 401(k) retirement plan is one of the best ways to save for retirement. They’re easy to set up, you can contribute directly from your paycheck and you receive significant tax benefits by participating. Your employer may even match your contributions up to a certain amount, which […]
