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retirement planning

Stocks Retreat on Jobs and Election Concerns

2024-11-04T14:45:53-06:00November 4, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , , , , , , , , , |

The Weekly Update

Week of November 4th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks slid last week as mixed economic data and strong-but-not-spectacular Q3 corporate reports failed to inspire investors.

The Standard & Poor’s 500 Index fell 1.36 percent, while the Nasdaq Composite Index declined 1.50 percent. The Dow Jones Industrial Average edged down 0.15 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 0.96 percent.

Q3 Reports Uninspired
Stocks rallied early Wednesday after the gross domestic product report showed a strong economy that appeared on the path to a soft landing. However, stocks moved lower throughout the day as investors digested mixed Q3 reports from a few mega-cap tech names.

Stocks were under more pressure Thursday as disappointing outlooks for some key tech companies pulled the market down. A softer-than-expected jobs report on Friday unsettled investors, but stocks picked up as the day progressed, and attention shifted to how the …

  • retirement planning in age of longevity

Retirement Planning In The Age Of Longevity

2025-03-26T20:55:54-05:00July 18, 2024|Categories: Resource Center|Tags: , , , |

Retirement Planning in the Age of Longevity

Over the past 75 years, advancements in healthcare and healthier lifestyles have significantly increased the average American life expectancy. In 1950, the average life expectancy was 68 years, but by 2022 it had risen to 77.5 years. This increase in longevity means retirement planning has become more complex, as the retirement phase now has the potential to span decades. Longer life expectancies bring the challenge of ensuring savings last throughout an extended retirement, alongside rising inflation and healthcare costs.

The longer retirement period increases the risk of outliving savings, necessitating larger savings pools and more careful planning. Inflation further complicates retirement by eroding purchasing power, while healthcare costs often escalate with age, adding pressure to finances. To successfully navigate these challenges, retirees need a strategy that incorporates early and consistent saving, diversified investments, and multiple streams of income, such as Social Security, pensions, 401(k)s, …

  • Aging Parents 3, Part III

Caring For Aging Parents – Part III

2025-03-25T10:19:40-05:00February 28, 2024|Categories: Resource Center|Tags: , , , |

HOW TO CARE FOR AGING PARENTS – PART III

As your parents age, it’s essential to focus on improving their quality of life by addressing their housing, transportation, medical care, and social needs. Aging may require modifications to their current living situation, such as retrofitting the home for safety or moving to a more accessible space. If managing a household independently becomes too challenging, part-time or full-time care, or even relocating to an assisted living facility, might become necessary. Discussing these options early on can help in making decisions that support their well-being.

Another significant challenge is when your parents are no longer able to drive. It’s important to create a plan to help them maintain mobility and independence. Alternatives like taxis, rideshare services (Uber, Lyft), or public transit can be helpful, and you can also offer to drive them to appointments when possible. While this can be a difficult transition …

  • Aging Parents II

Caring for Aging Parents – Part II

2025-03-25T10:15:06-05:00February 28, 2024|Categories: Resource Center|Tags: , , , |

Caring For Aging Parents Part II

How to Care for Aging Parents – Part Two 

Caring for aging parents requires having important conversations about their end-of-life and financial wishes. By starting these discussions early, you can ensure that their preferences are respected when the time comes, and they have time to reflect on their choices.

A crucial part of this conversation involves discussing their end-of-life wishes. Topics to address include funeral preferences, burial versus cremation, and where they’d like their remains to rest. By having these discussions early, you help your parents make thoughtful decisions. It’s also important to talk about their wishes regarding medical care and organ donation, which can be outlined in a Living Will. This ensures that if they are unable to communicate their desires later, their choices are known.

Estate planning documents play a key role in organizing their affairs. A Last Will outlines how their assets should …

  • Aging Parents I, Part I

Caring for Aging Parents – Part I

2025-03-25T10:23:56-05:00February 28, 2024|Categories: Resource Center|Tags: , , , , |

CARING FOR AGING PARENTS

As the population over 65 continues to grow due to healthier lifestyles and medical advancements, many people are facing the challenge of caring for aging parents. One of the most difficult conversations to have with an aging parent involves discussing extended medical care. These conversations can be emotionally charged and difficult, but approaching them with a strategy can help make the process smoother.

To start, it’s important to gather essential information before having the discussion. This includes details about your parent’s primary physician, specialists, medications, allergies, and their medical and estate management paperwork. Having documents like the Medicare card, insurance information, durable power of attorney for healthcare, and estate documents ready can also help guide the conversation.

While it’s important to be thorough in gathering information, you should also be prepared for an emotional response. The transition from being a provider to a dependent can be difficult for …

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