Debt is a part of almost every person's life. There may be times when you look at your paycheck and wonder if the money you are putting aside for your retirement outweighs the cost of your debt. You may think it is best to stop contributing towards your retirement and put that money to paying off your debt.
If your employer is a retirement plan sponsor, you’ve probably received information about your retirement plan, including descriptions of all the investment options available to you. Why do retirement plans offer different options?
Have you made up your mind on just about everything, even before you know what it is? For instance, when you meet someone, is your opinion of the person formed from the first impression? Or, when you hear a political argument from the other side, is your mind opened or closed? Are you able to concede the “good points” the other side make, or do you dismiss the whole argument?
One of the first lessons of finance we are taught, by our parents or through some basic personal finance course, is to make creating an emergency fund our top priority. Having a reserve of cash equivalent to six to 12 month’s worth of living expenses is considered the most fundamental principal of financial security.
In Marin County investment planning, we view goals as life’s destinations, whether it is where you want to be at the end of the day or at some point in the distant future.
The success or failure of a financial plan is driven by a variety of possible influences. Factors like the right rate of savings, good investment selection, and careful risk management are all important and commonly recognized as elements of a high quality plan. Going a step further and incorporating a well thought out estate plan can turn a good plan into a great plan.
An increasing number of Americans are facing an uphill battle just trying to save enough and earn enough on their savings to be able to retire on time.