Do you know what FIRE is? FIRE, in financial terms, stands for “Financial Independence, Retire Early.” The goal of FIRE is to save or invest enough of your money that you can retire earlier than traditional retirement plans would permit. Essentially, you need to keep your expenses low so that you can afford to save over 50% of your income. While going to this extreme isn’t something all of us can commit to, applying some of the principles of FIRE could provide an income you can’t outlive. Additionally, it can do so within a relatively short time frame. Reach out

Many consumers have little understanding of the long-term problems that poor financial decisions can create. One of the key reasons that many Americans struggle with making the right decisions when saving and investing is a lack of financial understanding.  Financial literacy is becoming increasingly important as more and more people manage their own retirement accounts, trade personal assets online, or carry various types of debt such as student loans, medical bills, and credit card debt. Credit cards are being used much more frequently, after all. A recent article states that “In 2019, credit use accounted for 24% of payments, up

If you have ever wondered why saving for retirement feels so difficult, this week’s article may be helpful to you. The article explains, “Psychology is often just as important in personal finance as are the numbers – the way we save, spend and invest are all influenced by the way we think and feel, especially when it comes to preparing for future events like retirement.” Because retirement often seems so far away and too difficult to achieve, it is hard to get the ball rolling on your savings and the article explains how we often end up procrastinating. Call us

While you may know that you cannot avoid risk in your life, you can prepare for it with your retirement strategies. Depending on your stage in life, there are specific risks you may want to think about and incorporate into your planning. We read about three key retirement concerns and the evolving needs and risks associated with them. We wanted to share them with you this week: Providing for your family’s future Protecting what you’ve worked for Passing on your legacy Call us if you’d like to discuss any of these, or are looking for suggestions on how to accomplish