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Four Small Changes That Can Have a Big Impact on Retirement Planning

As I scrolled through some of the leading financial publications recently, I noticed that many reporters are covering the news of retirement “unpreparedness” – sharing surveys, anecdotes and detailing the “dire” situation that Americans are facing.

However, when it comes to proper financial planning, it’s not these kind of scare tactics that will get individuals and couples on track. Rather, simple and actionable goals need to be implemented to increase the probability of success for financial plans, and in turn, retirement goals. Below, I outline small changes to weave into your lifestyle, and easy strategies to consider.

  1. Realign wants vs….

Ladies, Are You Properly Preparing for Retirement?

There are many unknown variables when planning for retirement, and even high-net-worth couples often feel overwhelmed when discussing their financial future. However, women face particular challenges – on average they live five years longer than men, requiring more assets to sustain those extra years of expenses. Women also face other challenges – many are still paid less over the course of their careers than their male counterparts and women are out of the work force for an average of 12 years to care for children and aging parents.

With all these factors, it is even more critical for women…

What to Consider when Relocating in Retirement

Did you know Lancaster, Pa. was recently named the 2nd best place to retire by U.S. News & World Report? The small, rural city, located in Univest’s backyard, is not a place that most typically think about when discussing retirement. While it’s certainly not a sunny beach town, it does check many important boxes pre-retirees should consider when deciding where to spend their retirement.

When discussing retirement and a potential relocation, it’s easy to get caught up in the fun things like what town has the best restaurants or where to catch the best shows and activities….

Balancing Your Savings: Retirement vs. Everything Else

Guest Blogger: Katie Bryan, America SavesSmall-arrow-for-disclosure

Should I save money or pay down debt? Should I pay for my child’s education or save for retirement? Should I pay down my student loans or build my savings? These are valid questions, as many of us have multiple savings and debt repayment goals to achieve at the same time. Figuring out how to prioritize them can be a struggle.

The good news is that in most cases, the answer to these questions is the same: DO BOTH….

Should Estate Planning Be a Family Affair?

Over the last few years, there have been quite a few headlines that have brought estate planning to the forefront. Remember the unfortunate situations with Prince, Robin Williams or even James Gandolfini – when they passed they did not have solid estate plans in place, which inevitably led to a nightmare for their loved ones who were left to deal with lengthy legal battles and familial disputes. Below, we take a look at a couple of reasons why these plans are usually overlooked, and best practices that not only individuals should consider, but entire families as…

Tips to Maximize Your 401(k)

Most employers today provide a 401(k) savings plan to their employees, but statistics show that most employees are not taking full advantage of this critical employee benefit. There are a multitude of reasons people are not saving enough through employment plans. Some struggle because life is expensive and if you are raising a family there are a lot of competing expenses. Others simply don’t take the time to study their 401(k) or 403(b) plan and rank savings in a plan as a top priority.

Budgeting life expenses after you earmark your savings is a much more effective approach than going…

Is the Three-Legged Stool of Retirement Broken?

The three most common sources of retirement income are traditionally known as the three-legged stool of retirement which is made up of pensions, Social Security, and personal savings. For decades, retirees and investors have been able to rely on these three legs for support. However, in recent years, the stool has become broken, forcing investors and soon-to-be retirees to lean on some legs more than others or even to look to other sources for retirement income security.

These days, it’s common to find many people that lack in all three areas. According to the Insured Retirement Institute, approximately 72…

‘Tis the Season… To Evaluate Your Investments

As the end of the year approaches, everyone is busy prepping for the holiday season. It’s a celebratory time of the year to enjoy with family and friends. It is also a good time of the year to evaluate your investments to see if there are any changes that you can make to help ease your tax liability come April. Here are some year-end tax-tips to consider*:

Consider tax-loss harvesting. If you have a security in your portfolio that may be at a loss from the original amount purchased, consider selling it to “harvest” the loss. This loss can be…

Social Security Strategy

Deciding when to begin taking social security benefits is an extremely important decision in your retirement planning process. The optimal age to begin receiving your benefits depends on factors such as your income needs, life expectancy and your desired date of retirement. You are eligible to receive full social security benefits at your full retirement age which varies depending on your date of birth as shown below:

Year of Birth                                   Full Retirement Age
1943-1954                                         66
1955                                                  66 and 2 months
1956                                                  66 and 4 months
1957                                                  66 and 6 months
1958                                                  66 and 8 months
1959                                                  66 and 10 months
1960 or later                                      67



Roth 401(k) – Is It Right for You?

First, let’s define a Roth 401(k) and how it works. It is an employer-sponsored investment account that is funded with after-tax money up to a contribution limit. The amount you are able to contribute each year is dependent on your age. In 2016, the maximum annual contribution limit for people below age 50 is $18,000. For those over the age of 50, you may contribute up to $24,000 through a “catch-up” contribution. Of course, each employer may establish lower limits, based on their needs and testing requirements. Below are some commonly asked questions about the Roth 401(k).

What’s the difference…

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