retirement Archives - Page 6 of 6

Budgeting & Beyond

jmuch2025-03-26T08:37:58-05:00April 11, 2019|Categories: Resource Center|Tags: financial planning, retirement|

Budgeting & Beyond

Budgeting & Beyond

Ready to get serious about budgeting?

Budgeting is an essential practice for everyone, regardless of income, to ensure financial stability and success. It’s about managing your cash flow, saving for the future, and making sure your spending aligns with your financial goals. Whether you’re new to budgeting or refining your approach, these four tips can help you get started and set yourself up for financial success.

1. Get a Handle on Cash Flow The process of budgeting and managing cash flow can begin at any age. While many people start focusing on it in their peak earning years (ages 40-60), it’s never too late to begin. Baby boomers and Gen Xers, in particular, often find themselves carrying higher credit card debt during this time, so learning to budget effectively is crucial. To get started, consider using a cash flow analysis worksheet, which you can get for free …

Apps and Life Hacks

jmuch2025-03-26T08:39:55-05:00March 29, 2019|Categories: Resource Center|Tags: financial, retirement|

Apps and Life Hacks

Apps and Life Hacks

While tax season has nearly come and gone, it’s always nice to have a few ideas to help you close out the current tax season and plan for next year.

Managing your finances can be a lot easier with the right tools, and there are several apps available to simplify budgeting, saving, and investing. For example, Mint is great for millennials, helping manage everything from bills to budgets with ease. If you’re new to investing, Acorns makes it simple to start with spare change, while Stock Twits helps track stocks and connect with other investors. These apps help you stay organized and save for the future, making tax season more manageable.

Additionally, tools like Qapital and Honey offer ways to save money, whether through personalized budgeting or automatically applying promotional codes to your purchases. For business owners, QuickBooks Intuit helps with budgeting and invoicing. New …

6 Steps for Early Retirement

jmuch2025-03-26T08:45:02-05:00March 7, 2019|Categories: Resource Center|Tags: financial planning, investment, retirement|

6 Steps for Early Retirement

6 Steps for Early Retirement
We’ve gotten a lot of questions recently on what it takes to retire early. While leaving the workforce may sound appealing, the people we work with want to make sure they have enough money saved and their portfolio is positioned for the road ahead.

Retiring early can seem like a dream, but it comes with its own set of challenges. Your savings must last longer, and the last thing you want is to run out of money. With careful planning, early retirement is possible, and there are six key steps to make sure you’re prepared. If you want more detailed guidance or help with your specific financial plan, reaching out to your team at CTS Financial Group is a great next step.

The first step is to create a budget. Retirement looks different for everyone, so it’s important to understand what your lifestyle …

Key Takeaways of the SEP IRA

jmuch2025-03-26T08:52:31-05:00January 17, 2019|Categories: Resource Center|Tags: retirement, taxes|

Key Takeaways of the SEP IRA

Key Takeaways of the SEP IRA

April 15th will be here in a blink of an eye. Are you self-employed or a small business owner?

A SEP IRA (Simplified Employee Pension IRA) is a retirement account for self-employed individuals or small business owners. Business owners, whether they have employees or work independently, can use a SEP IRA to save for retirement. This account stands out because it offers higher contribution limits than traditional and Roth IRAs, making it a popular choice for those who want to save more for retirement.

The SEP IRA’s main advantage is its high contribution limit. For 2018, the maximum contribution was $55,000, and business owners can contribute up to 25% of each employee’s pay. Self-employed individuals face a more complicated calculation, as their contributions are based on net profit, using a rate of approximately 18.6%. These …

Empower Your Future

jmuch2025-03-26T09:04:31-05:00August 23, 2018|Categories: Resource Center|Tags: financial planning, investing, retirement, social security|

Empower Your Future

Empower Your Future

Today, fewer than 1 in 4 employees have a pension – and that number is falling. Social security is changing too, as the retirement age to receive full benefits rises. Younger generations can no longer rely only on the system for retirement savings. It’s up to you to provide for yourself, and to prepare to do so sooner rather than later.

From a young age, we learn the importance of saving and investing for the future. Without a solid plan, our goals may never be realized. Today, this message is more important than ever. Responsibility for retirement savings has shifted from employers to employees. A generation ago, 84% of retirees had income from employer pension plans. Today, fewer than one in four employees have a pension, and Social Security is providing less support.

Millennials can no longer rely on the system for financial security. Two-thirds of millennials …

Managing Held Away Assets

jmuch2025-03-26T09:24:28-05:00May 31, 2018|Categories: Resource Center|Tags: investing, retirement|

Managing Held Away Assets: Investment Gaps & Overlaps

Managing Held Away Assets

By the age of 50, the average person will have 11.9 jobs. Along the way, you may collect smaller retirement plan accounts at your previous employers. However, as a group, these accounts may amount to one of your largest assets. Are you allowing these assets to go unmanaged?

Managing retirement assets across multiple accounts can be a challenge. Today’s workers frequently change jobs, leaving behind retirement plan accounts that may accumulate over time. These “held-away” accounts can become a significant asset, but managing them can become overwhelming with paperwork and complex investment choices. In addition, holding multiple accounts with overlapping funds can lead to more risk than intended, making it harder to track overall asset allocation.

Consolidating retirement accounts can simplify things and improve the efficiency of your financial plan. When accounts are managed together, your advisor can provide coordinated …

Rise of the Robots or a Relationship Renaissance?

jmuch2025-03-26T10:07:37-05:00August 30, 2017|Categories: Resource Center|Tags: financial planning, investing, retirement, wealth management|

Rise of the Robots or a Relationship Renaissance? Not so fast.

Rise of the Robots or a Relationship Renaissance?

Are we experiencing a rise of the machines or an opportunity for a relationship renaissance? When it comes to robo-advisors, CTS believes in forward-thinking technology but not at the expense of hands-on research and face-to-face interaction.

At CTS, we provide personalized financial advice that robo-advisors can’t match. While robo-advisors use algorithms to manage your money, we focus on getting to know you as an individual, tailoring strategies to your specific goals and needs. We keep you involved in the decision-making process, ensuring you understand your investments and feel confident in your choices.

We also act as your financial coaches, helping you stay accountable and adjust strategies as your life changes. Unlike robo-advisors, which offer minimal interaction, we provide access to a knowledgeable, local advisor who knows your situation. Beyond investing, we help with major …

6 Important Financial Strategies for Your 20’s and 30’s

jmuch2025-03-26T10:09:42-05:00July 21, 2017|Categories: Resource Center|Tags: financial planning, retirement|

6 Important Financial Strategies for Your 20’s and 30’s

6 Important Financial Strategies for Your 20’s and 30’s

At CTS, we realize that retirement for the Baby Boomer generation likely looks very different than it will for Gen X and Gen Y. In lieu of pension plans and other traditional benefits that Boomers may have access to, Gen X and Gen Y will likely have to rely on personal savings and investments. As a result, financial planning will take on increased importance. In addition, medical advances mean that average life spans are increasing, so you a longer retirement could become the norm.

As a Gen Y or Gen X investor, your financial goals are different from previous generations. Baby Boomers had pensions and stable careers, but you may not have those same benefits. It’s important to start planning early, especially since life expectancies are longer today.

At CTS Financial Group, we know that …

The Top Social Security Facts Retirees Must Know

jmuch2025-03-26T10:31:59-05:00May 26, 2017|Categories: Resource Center|Tags: retirement, social security|

The Top Social Security Facts Retirees Must Know

The Top Social Security Facts Retirees Must Know

Social Security provides guaranteed income in retirement. To make the most of it, it’s important to understand when to claim your benefits. Claiming too early reduces your benefits, but waiting until your full retirement age or even age 70 increases them. This strategy can significantly boost your lifetime income.

Changes to Social Security rules in 2015 removed some claiming strategies. Now, you cannot choose between your personal and spousal benefits if you file after 2016. These changes make planning even more important to maximize your benefits.

Social Security is often a key part of retirement income. It’s crucial to carefully consider your options and speak with a professional. At CTS Financial, we can guide you in making the best choices for your situation.

At CTS Financial, we have compiled a tip sheet, The Top Social Security Facts Retirees …