How Much Money Will You Need for Retirement?

Posted by Creekmur Wealth Advisors on 7:15 AM on August 13, 2020

It depends on your goals, time horizon, and risk tolerance..

"Will I outlive my retirement money?" That's one of the top fears for people who are starting to prepare for their retirement years.

So I have to chuckle a bit when I see headlines that say, "Here's how much money Americans think they need to retire comfortably."1

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Topics: Financial Planning, Investing, Retirement

Weekly Flash Briefing 07/07/2020

Posted by Drew Creekmur, MSPFP on 11:07 AM on July 7, 2020

3 Lessons Learned from a Crazy Year!

As I was watching fireworks over the weekend, I got to thinking about how much we have already experienced so far in 2020. The list of events is truly incredibly to review, in part because many of these events would have been massive in any random year and I had almost forgot that some of these things had even happened (here is a complete list of the items that occurred through just April!):

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Topics: Financial Planning, Investments, long term objectives, Planning, Retirement, saving and investing, Lessons Learned

Weekly Flash Briefing 06/30/2020

Posted by Drew Creekmur, MSPFP on 4:25 PM on June 30, 2020

How to Navigate your Employer Sponsored Retirement plan

"My employer provides a Retirement Plan (401(k), 403(b), 457, SIMPLE IRA, etc.), but I don't understand it at all!"

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Topics: 401k, 403(b), Financial Planning, Investments, long term objectives, Planning, Retirement, Roth 401k vs 401k, saving and investing

Saving Early & Letting Time Work for You

Posted by Creekmur Wealth Advisors on 11:30 AM on May 28, 2020

The earlier you start pursuing financial goals, the better your outcome may be.

As a young investor, you have a powerful ally on your side: time. When you start investing in your twenties or thirties for retirement, you can put it to work for you.    

The effect of compounding is huge. Many people underestimate it, so it is worth illustrating. Let's take a look using a hypothetical 5% rate of return.1

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Topics: Financial Planning, Retirement, saving and investing

How Women Can Prepare For Retirement

Posted by Creekmur Wealth Advisors on 11:45 AM on May 14, 2020

A practical financial checklist for the future.

When our parents retired, living to 75 amounted to a nice long life, and Social Security was often supplemented by a pension. The Social Security Administration estimates that today’s average 65-year-old woman will live to age 86½. Given these projections, it appears that a retirement of 20 years or longer might be in your future.1,2 

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Topics: Working Women, Financial Planning, Retirement, Retirement Income

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

Who Is Creekmur Wealth Advisors?

Posted by Creekmur Wealth Advisors on 9:54 AM on March 19, 2020

Founded 25 years ago by John Creekmur, CFP® Creekmur Wealth Advisors is a full-service financial planning firm. Our primary purpose is to help provide goal-based financial planning to our clients. We strive to partner with our clients to maximize their finances in pursuit of their goals and dreams.

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Topics: Financial Planning, Retirement

Rules of Thumb In Times Like These

Posted by Drew Creekmur, MSPFP on 12:24 PM on March 18, 2020

When did you first notice that something unprecedented was occurring with the Covid-19 virus?

I currently live in Washington D.C. and up until last week there were no noticeable differences in day to day life. However, I recognized the unusual nature of this situation last week when I headed down to Trader Joe’s to stock up on groceries for the next few weeks. Millennial that I am, I thought that if I got to Trader Joe’s 5 minutes before the doors opened at 8:00 AM that I would have the place to myself – I couldn’t have been more wrong.

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Topics: Financial Planning, market volatility, Planning, Retirement, Saving

Coronavirus & More

Posted by Creekmur Wealth Advisors on 11:00 AM on February 28, 2020

The 24-Hour News Cycle moves from Impeachment to COVID-19 to the Primaries – What’s next?

In recent weeks, we’ve seen several major stories in the news. On the political front, in addition to the arrival of the presidential election through the 2020 caucuses and primaries, we have just experienced the third presidential impeachment in American history. In international news, the latest coronavirus outbreak has hit China, now referred to as COVID-19, leading to closed borders and heightened screening at hospitals worldwide.1

 

It’s not so much the facts of what’s going on that are unusual – none of these matters are unprecedented – but the way that they are reported in the media can be alarming. Even frightening.

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Topics: Financial Planning, Market turbulence, market volatility, Planning, Retirement

When A Windfall Comes Your Way

Posted by Creekmur Wealth Advisors on 11:15 AM on February 27, 2020

What do you do with big money?

Getting rich quick can be liberating, but it can also be frustrating. Sudden wealth can help you address retirement saving or college funding anxieties, and it may also allow you to live and work on your terms. On the other hand, you’ll pay more taxes, attract more attention, and maybe even contend with jealousy or envy. You may also deal with grief or stress, as a lump sum may be linked to a death, a divorce, or a pension payout decision.


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Topics: Financial Planning, Planning, Retirement, Saving

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