Where $100k will last the longest in Retirement

Posted by Creekmur Staff on 8:30 AM on March 26, 2020

How much should you really be saving for the retirement future you envision?

Making sure you have enough money saved for retirement is one of the top concerns for those of us not independently wealthy. In a perfect world, we will figure out how much we need to live on by calculating our monthly and yearly retirement expenses, factoring in inflation, and computing any additional income like Social Security.

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Topics: Wealth Management, Financial Planning, Investments and risk, market risks, Retirement

The Major Retirement Planning Mistakes

Posted by Creekmur Wealth Advisors on 11:45 AM on February 6, 2020

Why are they made again and again?

Much is out there about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague retirees.   

Calling them “mistakes” may be a bit harsh, as not all of them represent errors in judgment. Yet whether they result from ignorance or fate, we need to be aware of them as we plan for and enter retirement.        

Leaving work too early. As Social Security benefits rise about 8% for every year you delay receiving them, waiting a few years to apply for benefits can position you for higher retirement income. Filing for your monthly benefits before you reach Social Security’s Full Retirement Age (FRA) can mean comparatively smaller monthly payments. Meanwhile, if you can delay claiming Social Security, that positions you for more significant monthly benefits.1       

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Topics: Wealth Management, Financial Planning, Investments and risk, market risks, Retirement

2019 IRA Deadlines Are Approaching

Posted by Creekmur Wealth Advisors on 7:45 AM on January 23, 2020

Here is what you need to know.

Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines.

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Topics: Wealth Management, Financial Planning, Investments and risk, market risks, Retirement

Your Changing Definition of Risk in Retirement

Posted by Creekmur Wealth Advisors on 5:45 AM on January 16, 2020

Some things to consider.

During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive,” and that guided how your portfolio was built. Maybe you concerned yourself with finding the “best-performing funds,” even though you knew past performance does not guarantee future results.

 

What occurs with many retirees is a change in mindset – it’s less about finding the “best-performing fund” and more about consistent performance. It may be less about a risk continuum – that stretches from conservative to aggressive – and more about balancing the objectives of maximizing your income and sustaining it for a lifetime.

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Topics: Wealth Management, Financial Planning, Investments and risk, market risks, Retirement

Investing Means Tolerating Some Risk

Posted by Creekmur Wealth Advisors on 8:40 AM on October 16, 2018

That truth must always be recognized.

When financial markets have a bad day, week, or month, discomforting headlines and data can swiftly communicate a message to retirees and retirement savers alike: equity investments are risky things, and Wall Street is a risky place.

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Topics: Tolerating Risk with Investments, Uncategorized, emergency fund, Investments and risk, market risks, Retirement

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