Portfolio rebalancing, how to budget your money, what’s an HSA and who needs one? Preparing for retirement is hard. From personal finance basics to retirement planning and everything in between, we’ve got a few ideas to make life a little simpler. Contact MCF with any questions.
Frequently, the news about retirement can sound discouraging. Traditional pensions are less common for most workers, many people are not saving as much as they may need, and questions continue to be raised about the long-term outlook for Social Security. However, the picture may not be as bleak as it is sometimes portrayed. Here are three practical steps that individuals can take to help strengthen their retirement readiness:
6 Effective Ways to Manage Financial Stress Feeling overwhelmed by finances? You’re not alone. Financial stress can impact your emotional well-being, physical health, and relationships. Here are six practical strategies to help you manage financial stress and regain peace of mind.
Starting a brand new job is exciting and full of a lot of new benefits, but don’t forget about the retirement plan you left behind. There are many different ways to handle an old retirement account, and here are your four options:
Knowing when risk is too much is crucial to maintaining a healthy investment strategy. Asset allocation helps strike the right balance between growth and stability, ensuring your portfolio aligns with your goals and tolerance for risk.
No matter how old you are, it’s never too early (or late) to save money for retirement. Each decade comes with different goals, investment types, and risk factors, but understanding the differences can help you be prepared for when your retirement comes around.
When you are faced with needing cash quickly, or if have an unexpected expense, you may be tempted to take an early withdrawal or borrow funds from your employer-sponsored 401(k) plan account (if your plan allows it). Be aware that the convenience of taking untimely distributions (loans, early withdrawals, hardship distributions, etc.) could come with significant consequences on your short and long-term goals.