Financial Planning

How Much Have You Thought About Healthcare Costs in Retirement?

Contribute to your retirement plan.  In 2019, the yearly contribution limit for a Roth or traditional IRA rises to $6,000; $7,000 for those making “catch-up” contributions.  Income limits are applied to Roth IRAs.  You can contribute up to $19,000 to 401(k), 403(b), and most 457 plans, with $6,000 “catch-up” contributions.¹

Make 2018 IRA contributions by April 15, 2019, which is the deadline for filing your 2018 federal return.

Check out Roselyn on her first TV interview as author of It's Good to be Queen. 

According to the Social Security Administration's estimate, the average 65-year-old woman will outlive the average 65-year-old man by more than two years. Women need to plan for the probability of managing their finances.

This month's newsletter will help you understand how to manage now instead of waiting for a dire event to happen.

What financial, business, or life priorities do you need to address for 2018? Now is a good time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to lowering your taxes. You have plenty of options. Here are a few that might prove convenient:

With age comes responsibility, so if you're a young adult in your 20s or 30s, chances are you've been introduced to the realities of adulthood. While you're excited by all the opportunities life has to offer, you're also aware of your emerging financial responsibility. In the financial realm, the millennial generation (young adults born between 1981 and 1997) faces a unique set of challenges, including a competitive job market and significant student loan debt that can make it difficult to obtain financial stability.

What are you getting for the fee you pay? A financial professional with a fee-based business should be able to provide you with insight into retirement planning, tax and estate planning, risk management, and college planning. He or she should provide more than just a second opinion on your investment choices.

How much do you pay for wealth management? Typically, wealth management firms provide their services for an annual fee approximating 1% of the assets in an investor’s account. Through the years, this 1% yearly fee has become something of an industry standard.¹ 

There are many reason to work with a financial professional.  Here are some of the reasons.

• A financial professional can apply his or her skills to your specific needs. Just as important, you have someone who can answer questions about things that you may find confusing or anxiety-provoking. When the financial markets go through one of their periodic downturns, having someone you can turn to may help you make sense of it all.