Insurance Services

Advisory Services

Category: Uncategorized

Published
Categorized as Uncategorized

401(k) Balance by Age: How Do You Measure Up?

According to Vanguard’s 2024 How America Saves Report, the average 401(k) balance for participants in 2023 was $134,128, with a median balance of $35,286. Vanguard participants’ average account balances increased by 19% since year-end 2022.¹ How does your 401(k) balance compare to others in your age group?   In this post, we break down the latest… Continue reading 401(k) Balance by Age: How Do You Measure Up?

Published
Categorized as Retirement Savings, Retirement Tips, Uncategorized

Is Professional 401(k) Account Management Really Worth It?

401(k) account management is an option for anyone with a 401(k) – no matter how close or far you are from retirement. Even if you have some basic investment knowledge, you might want to consider seeking expert advice. Think of it this way – financial advisors manage 401(k) accounts for a living. It’s their job. … Continue reading Is Professional 401(k) Account Management Really Worth It?

Published
Categorized as Uncategorized

Your Retirement: Don’t Be Another Statistic

Americans are not saving enough for retirement. In a report entitled Americans Face Alarming Retirement Savings Shortfall, the National Institute for Retirement Security shares, “Most Americans will not have enough money for a financially secure retirement. […] NIRS research found that for Generation X, a generation that is quickly approaching retirement and the first that… Continue reading Your Retirement: Don’t Be Another Statistic

Published
Categorized as Uncategorized

Over Half of Americans Think There’s a Retirement Crisis

There is a looming retirement crisis.  It’s not a possibility. It’s about to be a reality for many Americans. According to a survey by Clever, “Two-thirds of retired Americans say the U.S. is in a retirement crisis (66%). The average retiree owes $15,393 in non-mortgage debt, and 40% worry they will outlive their retirement savings.”¹… Continue reading Over Half of Americans Think There’s a Retirement Crisis

Published
Categorized as Uncategorized

How Long Will Your 401(k) Savings Last in Retirement?

Will your 401(k) savings last in retirement?  It’s a question on the minds of a lot of 401(k) investors. Despite that, most people underestimate how much money they will need in retirement. Experts tend to recommend saving 80% of your pre-retirement income. If you and your spouse bring in $120,000 annual income, you should save… Continue reading How Long Will Your 401(k) Savings Last in Retirement?

Published
Categorized as Uncategorized

The Silent Crisis: Americans’ Reluctance to Discuss Aging Parents’ Finances

There are few things more taboo than talking about money and death. But, if you are a parent approaching retirement, it is imperative to have the aging parent money talk with your adult children. Unfortunately, this doesn’t happen as often as it should. According to a Wells Fargo survey, only 38% of Americans with aging… Continue reading The Silent Crisis: Americans’ Reluctance to Discuss Aging Parents’ Finances

Published
Categorized as Uncategorized

The #1 401(k) Mistake Married Couples Make

In an ideal marriage, both spouses want the best for each other. This includes a comfortable retirement. Unfortunately, there is one 401(k) mistake married couples make without even realizing they are doing it.  It may seem small, but it can make a big impact on your retirement future.  The mistake? Not communicating and clearly deciding… Continue reading The #1 401(k) Mistake Married Couples Make