Participant Insights

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.

Financial Wellness

Gen X in Retirement

November 5, 2024 Retirement

When it comes to retirement planning, GEN X lives up to its reputation; one where the middle child – sandwiched between the Baby Boomers and the Millennials – feels indifferent to it. Despite feelings of indifference, GEN X feels secure in themselves, even rating their mental health as “excellent”. According to Principal Financial’s June 2022 Retirement Security Survey, that’s ten percentage points higher than other generations. With that said, GEN X still needs support planning for the future.

Medicare

October 1, 2024 Retirement Financial Wellness

Medicare is a United States government health insurance program that covers people age 65 or older, patients with end-stage renal disease, and people younger than 65 with disabilities. It is important to understand how Medicare works, who qualifies for Medicare, and the four different types of Medicare available to individuals.

Income Replacement in Retirement

July 1, 2024 Retirement

A retirement income replacement rate is the percentage of your income that you will need to have saved to maintain your current lifestyle in retirement. Here are five factors that determine your income replacement rate.

Estimating Your Financial Needs for Retirement

June 14, 2024 Retirement

Financial planners who conduct retirement consulting have been pointing out that you can find yourself in trouble when you reach retirement if you’re saving without a goal. Many people have been saving for retirement without taking the time to figure out how much they’ll need when they eventually retire. How do you know if you’re saving enough if you don’t know how much you’ll need in the future?

Retirement Fundamentals

June 2, 2024 Retirement

If you’re new to saving for retirement, all the unfamiliar jargon can be off-putting. We’ve compiled some of the most common retirement terms, outlining what they mean and why they’re important. This is a great place to start building your retirement planning confidence.

Retirement Readiness Checklist

May 7, 2024 Retirement

As you approach retirement, you want to make sure you are maximizing your savings. The CDC says the average 65-year-old woman can expect to live to age 86, while a 65-year-old man can expect to live to age 83. That is 25-30 years that you will need in savings, if you plan to retire at the normal retirement age. Here are some manageable steps that you can take to plan your retirement.