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.
Let’s see how well you know some common questions and terms about a typical retirement plan!
Many defined contribution plans include something called employer matching, meaning that your employer contributes a certain amount to your retirement savings plan based on your personal contribution. Employers use various match formulas to determine their contribution, but we have highlighted three common scenarios that show the importance of knowing the facets of your retirement plan.
Many people often find that they know far less about their retirement plan than they thought. Test yourself with the quiz below and see how much you know about your financial future.
With expanding life spans and increasing retirement costs, it will require serious retirement planning to ensure that your income will last a lifetime. Here are the four essential elements of a sound retirement plan:
Deciding how to invest your retirement plan savings can be challenging and intimidating. Doing it in the best way requires understanding different investments and strategies, as well as having the time to track performance and make changes.
Preparing for retirement can be daunting, but it doesn’t have to be stressful. Whether you are years away from retirement or right around the corner, the best thing you can do for yourself is to be prepared! Your future self will thank you. Research has shown that starting to prepare for this milestone at least 5 years out leads to a much happier retirement.