August, 2021 - Financial Resources Group

Tips for Saving Money After Retirement

August 19, 2021

We thought to share this week’s article with you because it discusses 27 tips for saving money after retirement. It’s important to remember that “it’s never too late to save, even after retirement.” The author of the article tells us how to “get on track once you’re retired” based on advice provided in the guide that you can easily download through this article. Take a look at the guide and then call us if you’d like to hear our ideas. The article also touches upon the fact that “Nearly half of Americans aren’t sure how much they need for retirement.”

Capital Gains Taxes Explained

August 11, 2021

We’ve received calls asking to explain capital gains taxes so we thought this week’s article might be of interest. It tells us, “There are two categories of capital gains: short term (assets held for a year or less) and long term (assets held for longer than one year). The day you acquire the asset isn’t included in your holding period, but the day you sell it is.” “Any net gain resulting from the sale of an asset with a short-term holding period will be added to your gross income and taxed as ordinary income at rates between 10% and 37%.

Savings By Age

August 5, 2021

We enjoyed reading this week’s article because it provides useful information that applies to the different generations in any family. Saving money is an interesting conversation because while it usually involves the idea of needing to have retirement money in the future, we often forget to think about saving money as the bigger picture regardless of our age. You will have various life events along the way that you’ll need to have money set aside for in “your 20s, 30s, 40s, and beyond.” “If you’re wondering, ‘How much should I have saved?’ now is the time to flip your mindset.