Retirement doesn't "just happen" if you are talking about successful retirement. You have to plan for it and work at it to make it happen the right way and at the right time.
Have the economic repercussions of the prolonged COVID-19 left you feeling a little shaky? You are not alone. The effects of this catastrophic event are unlike anything seen in recent history, including the Great Recession of 2007-2009. You may be rethinking your retirement strategy because of the challenges that this unprecedented event has caused.
There's nothing like a global pandemic to remind everyone that the only certainty is uncertainty. In a matter of a few months, COVID-19 has swept around the world, sickening 2.2 million Americans, taking the lives of tens of thousands and changing everything.
Most of us spend a significant part of our time working, saving, and trying to accumulate assets. Those efforts are usually intended to provide for ourselves and our loved ones and eventually to ensure a reasonably comfortable retirement. But what happens if we should die along the way?
History and modern economic theory have shown that there has been a natural ebb and flow to the economy. However, the Great Recession of 2007-2009, 9/11/2001, and the COVID-19 pandemic of 2020 have also shown that sometimes we cannot predict when the economy will take a direct or indirect hit. It can be mind-boggling that one minute your retirement savings are performing well and seem to be safe and sound. Then a single event starts a chain reaction that now has your dreams of an affordable retirement beginning to fade and putting you on edge.
The world is in the throes of a pandemic. People are getting sick, lives are being lost and the stock market is in a free fall. COVID-19 is affecting every aspect of daily life--and likely will for months to come. It's left a lot of people wondering what to do about their retirement and their 401(k) accounts.
Preparing for retirement is a major focus of your years in the workforce, regardless of what type of career you are pursuing. All too often, confusion and stressfulness mark the retirement preparations of many - but it doesn't have to be that way!
Too many people let retirement sneak up and take them by surprise and enter their golden years inadequately prepared. But you don't have to let that happen to you! There are definite steps you can take and decisions you can make now that will positively impact your life and income stream then.
In accordance with the REAL ID Act of 2005, the state of Florida began issuing driver's licenses and state ID cards that are compliant with the act as of 2010. Over the past 9 years, the majority of Floridians have updated their credentials so they are prepared for the restrictions that take effect in 2020. You will know if you are compliant by the presence of the gold star on your driver's license or identification card. For those that have yet to update their credentials or are unaware of the upcoming restrictions, please see our short guide below on REAL ID compliance.
Despite its usefulness, many people assume estate planning is really only for those who are absurdly well-off. Creating an estate plan is actually beneficial in a wide variety of situations and its effectiveness does not depend on sizeable wealth. While a plan is most useful for those with a sizeable amount of assets to deal with, here are 3 reasons why even the average person might want to consider giving estate planning a go.
We are a professional financial services firm located in Sanford, Central Florida.