Perspectives & Insights Article

Many of us struggle with the execution of long-range goals. Although we may understand that they are important, often they are not very urgent…so they are moved to the back of the list and suffer from lack of good, early execution. The first step is to embrace the planning process.

Leaving the workforce and retiring is both an exciting time and one of stress — creating a number of questions and concerns. As with any major life change, planning ahead can enhance the outcome of your long-awaited move to retirement.

Are you prepared for the unexpected? Gathering key documents in advance can go a long way toward reducing problems for you if an unforeseen disaster ever strikes. Because many disasters give little or no warning, it is important to take the time to prepare now — saving time, money and heartache in the event of an emergency.

Taking time to vet your favorite organizations can help you ensure your money will make a meaningful difference and that your donations will be tax-deductible.

Academics and experts agree: A solid financial education provides important tools for successfully navigating the sometimes-complex matters that we all face in adulthood. But are young people gaining the knowledge that can help them make critical financial decisions?

You probably selected your state of residency based on several factors, such as where you grew up, proximity to family or friends, climate and/or the location of your job. A factor you may not have taken into account is the financial impact that comes with your decision to reside in a particular state.

While we don’t know what the future may bring, we can plan for the possibilities. For many of us, this includes acknowledging that we may need extra assistance down the line, in the form of long-term care.

Do you know where all of your financial documents are? If you are like many of us, you are engulfed in a flood of bills, tax forms, account statements and other financial documents, and may not know where everything is. That means it’s time to sort, simplify and organize, especially if you are just around the corner from retirement.

When it comes to good financial habits, such as saving early and creating a solid financial plan, who’s leading the pack? The answer might surprise you. A new D.A. Davidson survey of over 1,000 affluent Americans reveals significant insights.

Is it possible to save for both medical bills and retirement? According to a 2018 Employee Benefit Research Institute report, a 65-year-old couple, both with median prescription drug expenses, may need an estimated $296,000 in savings to have a 90% chance of having sufficient funds for healthcare expenses in retirement. Since healthcare expenses have historically risen faster than the cost of living, having a plan to cover these future expenses is critical.