The Pros and Cons of 401(k)s vs. Roth IRAs

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Due to compound growth, the earlier you begin saving for retirement, the better prepared you'll feel. But what is the best format to place these savings into? And how can you avoid excessive tax penalties? Tax planning is a tactical method of positioning your investments, income stream, and savings to avoid, defer, or reduce your tax liability.

How to Financially Prepare for Retirement

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When financially planning for retirement, there are basically two phases. Relying on only one of these sources of income during this financial transition, however, can risk your retirement expenses outweighing your available funds.

How to Emotionally Prepare for Retirement

by Ryan Smith on
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When most people think about planning for retirement, they focus on the financial aspects first and foremost. While understanding how to save for retirement or how to apply for social security benefits is important, the choice to retire is ultimately an emotional decision, one that will affect many different areas of your life. This transition includes how you relate to your spouse, friends, family members, and most importantly, to yourself.

Retirement as a Single Woman

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As a single woman, you may be faced with some unique challenges when planning for retirement. Here's what you should consider.

Retirement Success

by Ryan Smith on
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Retirement can invoke a mix of conflicting emotions from anticipation to fear, excitement to anxiety. It’s one of the biggest life changes we experience in our adult lives. Most of us anticipate and save for it for decades. But, going from receiving a paycheck for most of your adult life to living off the wealth you have amassed can be an unnerving transition. 

What are the Benefits of Saving Early?

by Ryan Smith on
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For many Americans, the art of saving is something that they have yet to master. This is especially true for those who have just entered the workforce or have gotten their first job. In this post, we have brought together some of our favorite benefits of saving early, and how it can set you up for success.
Over the past year, we’ve all felt the effects of the coronavirus pandemic in one way or another. But, as the job losses and unemployment numbers tell us, it’s staggeringly clear that women—particularly women of color—have been disproportionately affected. Women have lost or scaled back their careers, with their labor force participation now at a 30-year low.

It’s daunting to think about the day when you may not be able to live independently and care for yourself. But planning early for long-term care can keep you from becoming overwhelmed in the event that you develop a chronic illness, disability or other condition. By planning your care now, you’ll be...

Year-End Financial Planning Checklist

by Ryan Smith on
Although 2020 has been a year of unexpected changes, one routine has remained consistent: the fourth quarter means it’s time to begin organizing your finances for the new year. To help you get started, here’s a checklist of key topics to think about, including new tax and retirement considerations related to the COVID-19 pandemic.