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So, you’re ready to buy your first home. Congratulations! For many people, taking this step is one of the biggest financial moves they will make in their entire lives. Because of that — and because it’s a lot more complicated than, say, buying a plane ticket or even something else you’d need to finance (like a car) — you’re going to want to tread carefully.
If you depleted your emergency fund in the last year or so, don’t panic. We build up emergency funds so they’re there for us when we need them. And if you’ve never had an emergency fund, you absolutely need one to protect yourself if something unexpected happens. Because inevitably, it will. Here’s what you need to know about the care and feeding of your oh-so-important emergency fund.
Many believe that an estate plan is reserved for those with millions and mansions. This could be why only 42% of adults in the U.S. have estate planning documents in place, including wills and powers of attorney. Although you might not plan to leave a whopper of an inheritance to your loved ones when you die, an estate plan is the only way to make sure your assets go to the people or charities you love most.
Mental Health America (MHA) awards a Bell Seal for Workplace Mental Health to companies committed to creating mentally healthy work environments. Rivermark‘s status as a Platinum Bell Seal-certified organization demonstrates our outstanding commitment to employee mental health and well-being.
If the pandemic taught us anything, it’s that you can never be too prepared. We all need a protection plan in place, which includes a few essential elements: An emergency fund, health insurance, a basic estate plan and – for many of us – enough life insurance.
When it comes to Social Security, understanding the long-term implications of your decisions is key. Delaying benefits from age 62 to 70 can potentially lead to thousands more in retirement; working longer or collecting Social Security while working both maximize take - but earnings limits and projective trust fund exhaustion in 2035 must be considered. Make sure you've carefully weighed all options before claiming Social Security!
Saving for retirement doesn't have to be a daunting task. By breaking your goals down into smaller, daily targets and automating contributions, it can be achievable for any budget. Research shows that by making it easier to start saving, more people are able to take the necessary steps towards achieving secure retirements.
Don't have a retirement savings plan yet? Retirement is too important to put off, even if life events have led you astray. Focusing on income replacement with Social Security and any other pensions you may be eligible for can help get your retirement bucket started. Remember—it's never too late to start saving for the future!
Feeling overwhelmed by the menu of retirement savings plans? Don't worry, we've got you covered with an overview of all the common accounts - 401(k)s, 403(b)s, solo 401(k)s, IRAs and Roth IRAs - plus simple directions on how to use them. Get on track with your retirement savings today!
It can be difficult to talk to your children about money (especially when they are young), but it's important to start. There is no better place to start than at home, with parents, grandparents, and other close relatives leading the way. You don't have to feel like a lecturer when you teach kids about money for the first time. You can make it fun, engaging, and experiential.