Posts Tagged ‘financial planning’
Silicon Valley Bank đŚ
While spring approaches, markets have grown turbulent on news of potential problems in the banking sector after the rapid closure of Silicon Valley Bank. Nearly every year, the FIDC puts a few banks into receivership. As a result of the Global Financial Crisis (2008-2009), 157 banks failed by 2011. The total assets affected during that…
Read MoreWhen Is The Best Time To Collect Social Security Benefits?
Over 69 million people in the United States receive social security benefits â so needless to say, itâs a pretty important topic. Understand that the government is simply giving you back all the money they deducted from your paychecks (âFICAâ) while you were working. But with the many nuances and complexities of the social security…
Read MoreThe SECURE Act 2.0
On December 29, 2022, the SECURE Act 2.0 was signed into law by Congress. As you may recall, the original SECURE Act (2019) made several changes that impacted retirees: The goal of the SECURE Act was initially to encourage retirement savings and make it easier for businesses to support their employees with these types of…
Read MoreMillennial Money
Millennials. Those born between 1981 and 1996; ranging in age from 26-41 years old. VHS, Windows â98 startup sound, Blockbuster Friday nights, those never-ending strawberry candies at your grandmotherâs house, watching âThe Price Is Rightâ when you were âsickâ at home from school, Nintendo 64 – the list goes on and on. Bring up nostalgia? …
Read MoreContingency Fund: Individual Retiree Risk Management
The goal of this article is to provide an actionable framework for contingency planning for individual retirees through the modern retirement theory (MRT) perspective. Contingency planning encompasses a retireeâs risk management processes, techniques, and strategies, along with a choice architecture. Our goal is to provide insights that are mitigating to those conditions within longevity that can impair or impact a retireeâs ability to remain retired. We offer three risk categoriesâknown, unknown, and unknowableâas an organizational scaffold that demands an intentional choice be made by the retiree. Then, to guide an individual retireeâs decisions about contingency planning, we put forth an active risk selection matrix. The 3-R matrix can be used for guiding and evaluating risk choices through risk recognition, risk reduction, and acceptance of residual risk.
Read More2023 Important Numbers Chart
“How much can I contribute to my 401k?” “What is the standard deduction for this year?” “Am I eligible to use a Roth IRA?” Take a look at this handy “2023 Important Numbers” guide to answer these types of questions! Follow the link below for a free, full downloadable chart! https://branwealth.com/wp-content/uploads/2023/01/Important-Numbers-2023.pdf
Read MoreIs Cash King?
While the origin of “cash is king” is unclear, it is a phrase that became popularized following the global stock market crash of 1987 by Pehr G. Gyllenhammar, then CEO of Swedish car group Volvo. Cash is flexible and can be likened to short term personal insurance against negative life circumstances. That is one reason…
Read MoreThe Important Lessons Gratitude Can Teach You About Money
When you think of gratitude and money, you probably donât imagine the two go hand in hand, but the connection is undeniable. Gratitude has the power to boost serotonin and prompt the brain to produce dopamine, the chemical that makes you feel âgood.â So, the more you practice gratitude, the better youâll feel. Itâs not…
Read MoreYour Investment Plan – What’s It Based On?
âWhere is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information?1â While these questions were originally directed to modern culture at large, we think that they can also be applied to investing. Investors must forge a path, or hire a guide, through information and knowledge leading to a…
Read MoreThe Fed Hiked Interest Rates: What This Change Means For You & Your WalletÂ
Youâve seen the headlines: âThe Federal Reserve hiked interest rates to historic levels.â They raised the target federal fund rate by 0.75%, which marked the most significant increase in 28 years. While this news might sound bad, donât panic! Here is what this interest rate means for you, your wallet, and the economy. Why Did…
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