Financial Power Blog

The Retirement Planning Status Quo

The Retirement Planning Status Quo

Does any of this status quo retirement planning conventional wisdom ring a bell?   1. Use mutual funds to diversify your portfolio. 2. Contribute the maximum to your 401(k). 3. Maintain a high credit score and shop around for low interest rates. 4. Purchase term and invest the rest. 5. Invest your money in the stock market to earn a good return. 6. Put off paying your taxes until later.  (The reality that disproves this myth will astound you.)   Credit card debt totals roughly $10,700 for the typical American household with at least one card. There have been trillions of dollars...

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Data from Fidelity found the number of seven-figure retirement accounts down sharply

Data from Fidelity found the number of seven-figure retirement accounts down sharply

At Women Financial Power, we offer safe retirement planning. Here's why, there are always ups and downs in the market that we can't control. Here's what it amounts to, as an investor, you put up 100% of the money and you take 100% of the risk. You're the one whose principal is on the line. This is fine if it is money you can stand to lose, but this is not the only way to invest or save for retirement. Women Financial Power builds a solid foundation for our clients that protects their principal.    We came across this article from Bloomberg and decided to...

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Estate plan & retirement assets

Estate plan & retirement assets

You may have been concentrating solely on your retirement assets up to this point since they normally represent the greatest portion of your estate. However, if you're like most individuals, you will also have other assets, such as a house and other property. So, now is the time to take stock of your other assets and figure out how to combine them with your retirement savings as part of your total estate plan.   The American Taxpayer Relief Act (ATRA) of 2012 was enacted on January 2, 2013, by President Obama. It's true what you read. The 2012 tax bill...

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Know what you have in retirement holdings and where you have it.

Know what you have in retirement holdings and where you have it.

To those of you who are the original or inheritor-owners of an IRA (individual retirement account) or other form of retirement plan, or various accounts (very common). You will require this information. Know as much as you can about your retirement accounts so that nothing slips through the cracks. You should maintain a checklist so that you can track the growth of your retirement funds. Having a checklist provides you with a comprehensive overview of all of your retirement assets without requiring you to go back and examine the specifics of each account.  If you have several retirement accounts, for instance,...

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