Retirement Planning Guru | Commitment, Trust, Experience, Reliability

  • ‘Tis the season to blow your budget. Don’t let your hard work on personal finance goals this year be undone by careless holiday spending. Follow these tips to enjoy the gifting season without the New Year’s financial hangover. DO Make a list—and a budget. Figure out how much you can afford to spend during the holidays—include gifts, travel, entertaining and all the other costs you can think of that crop up this time of year. Consider cutting back on other expenses (i.e. bring your lunch to work this month) to free up cash for the holidays. Next make a list […] …

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  • The  Social Security Administration has announced that the monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase 2 percent in 2018. The 2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 61 million Social Security beneficiaries in January 2018. Increased payments to more than 8 million SSI beneficiaries will begin on December 29, 2017 (note: some people receive both Social Security and SSI benefits). The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau […] …

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  • Often it’s the little things in life that can make the biggest difference. That’s true when it comes to saving for retirement. Putting just 1% more into a tax-advantaged retirement account like a 401(k), 403(b), or traditional IRA could make a noticeable difference in your lifestyle in retirement. “The retirement savings mountain might appear imposing from a distance, but the climb isn’t as steep as it looks,” says Jeanne Thompson, senior vice president of retirement insights at Fidelity. “Small steps can turn into big strides.” While 1% is a small percentage of your annual earnings, after 20 or 30 years […] …

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  • This month’s article focuses on ways to tame your finances. I’m providing you with what I feel are the key takeaways, but feel free to read the full version of this article here.   We will begin with some Basic Guidelines: Set and pursue financial goals that excite you. Follow a budget and track your spending. Pay by cash or by check rather than credit card or payment plan whenever possible. Save consistently and build a financial reserve. Make sure you are receiving all pertinent public benefits. Make good use of your tax refund and / or your Earned Income […] …

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  • Registration is now OPEN for my Loudoun County Public Schools – Adult Education class, How To Address The 16 Challenges Of Retirement: Both Pre And Post Retirement. The class consists of two Monday sessions on September 18th & 25th from 6:30 p.m. – 9:00 p.m. at Loudoun County High School. Access the catalogue: https://www.lcps.org/Page/149971 Important registration information: https://www.lcps.org/Page/66838 Register: https://aceweb.lcps.org/ Published July 21, 2017     …

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  • Four key guidelines to help you know where you stand on your retirement journey. Everyone’s road to retirement is personal, with twists and turns that are unique to their situation. Yet most of us grapple with the same, sometimes elusive, questions, usually starting with “how much?”. Of course, no one knows the precise answers to these questions because you don’t know what life—or the markets—will bring. Still, you need to know where you stand to make decisions along the way that will help you have choices as retirement nears.   “Our guideposts can help you take the wheel, and have […] …

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  • Retirement Planning Guru | Inflation Hedges

    Not sure where to start with budgeting? Take a look at this article from our friends at Fidelity Investments on how the 50/15/5 principle could work for you. THE BACKGROUND: A few months ago, I came home from work on a rainy day to discover the ceiling in my apartment was leaking. To be perfectly clear, I’m not talking a few sporadic drops of water here and there. The entire kitchen was a mess. Giant patches of ceiling had fallen onto the floor, which was then covered with about two inches of water, and my rugs, furniture, and artwork were […] …

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  • The simple act of running a retirement projection may be the single most important step employees can take to reach their 401k financial goals. So says Financial Finesse, a financial coaching firm for employees, in its 2016 Annual Year in Review report, released Wednesday. CEO Liz Davidson and crew found that as a result of this action, more employees discovered they were on track to retire. As more employees run their projections, those who are not on track may have time to make adjustments in order to avoid delayed retirement. This could benefit employers by reducing bottom line costs associated with delayed retirement, […] …

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  • Retirement Planning Guru Kevin O’Neil will present “Create a Satisfying and Rewarding Retirement,” a retirement planning education lecture on Monday, March 27, at 7 p.m. in Rust Library. You are invited and the event is free. This lecture addresses how you can create a retirement plan that tells you exactly what you need to do, in order to meet the 16 management challenges that are critical in planning a satisfying and rewarding retirement. WHEN: Monday, March 27, 2017, 7 p.m. WHERE: Rust Library 380 Old Waterford Road, NW Leesburg, VA 20176 QUESTIONS: Contact Kevin O’Neil 703-727-1111 kevin@retirementplanning.guru Can’t attend but […] …

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  • You’ve always planned to save for your senior years, but maybe life got in the way. Economic slumps, college tuition, healthcare bills and many more priorities waylaid the funds earmarked for retirement. Now you’re over 50. And you might not have enough to retire on. But you’re not alone. A 2014 report by the Federal Reserve1 found that 15.4% of nonretirees over age 60 have no retirement savings at all. And about 25% of those 45 and older have no idea how they will pay expenses in retirement. But don’t despair. You can still reap the rewards of retirement. Just […] …

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