Simplicity Digital Advisor
How to Give Back Without Sacrificing Retirement Savings
Charitable contributions and acts of kindness provide many people with personal satisfaction and a life purpose. However, it is essential to remember that giving back should not jeopardize one’s financial stability. This article outlines practical strategies for making a meaningful impact without sacrificing retirement savings.
Long-Term Care: Questions, Concerns, and Answers
As we and our loved ones age, long-term care (LTC) becomes an increasingly important consideration. This type of care is designed to pursue health or personal needs over a more extended period, particularly for those who require assistance with daily activities such as bathing, dressing, or taking medications. This article addresses some of the top questions and concerns about LTC and provides related answers.
How LLIMMT Can Impact Retirement Savings
Retirement savings, essential for independence in later years, can be influenced by numerous factors. Among them are longevity, liquidity, inflation, mortality (the stock) market, and taxes (LLIMMT). Each element plays a crucial role in shaping an individual’s retirement outlook.
Donations and Tax Savings: Your End of Year Giving Strategy
The end of the year is a perfect time to give back to others and your community. Whether you’re an individual or a business owner, charitable donations benefit the recipient and provide tax advantages to the donor. Tax deductibility often incentivizes individuals and corporations to give more vigorously to philanthropy, which is essential. Here are some reasons why end-of-year giving may be a comprehensive strategy.
An End-of-Year Financial Checklist
As the end of the year approaches, it’s time to start thinking about what comes next for you in the New Year. Reviewing your financial situation can help you evaluate your financial health and set the stage for wealth growth in the coming year. Here is an end-of-year financial checklist to work through as you pursue being on top of your financial game.
5 Ways to Create a Steady Retirement Income Stream
Creating a steady retirement income stream is vital for independence and a fulfilling post-work life. While several retirement income strategies exist, not all provide the confidence necessary for this stage of life. This article outlines five well-known retirement income streams that may provide retirees with a consistent source of income from early retirement throughout their lives.
How to Protect Your Retirement Savings from Unexpected Healthcare Costs
One of the major concerns people have when planning their retirement is how to protect their retirement savings from unforeseen medical expenses. Healthcare costs have steadily risen, but adequate planning can help maintain these costs in retirement. This article outlines a few strategies to help shield retirement savings from unexpected healthcare costs.
The Interplay between Family Literacy Day and Legacy Planning
National Family Literacy Day is celebrated annually on November 1st. It was established to encourage families to partake in financial literacy-related activities together. It underlines the family’s vital role in nurturing their children’s financial literacy skills from childhood through adulthood.
Annuities 101: Benefits of Annuities and Their Drawbacks
Annuities, insurance products issued by insurance companies, are often recommended by insurance and financial professionals to investors. They are designed to provide a steady income stream in retirement. While there are benefits of annuities, they also have drawbacks that investors should consider.
Proposed 2025 Changes to Social Security
In recent years, there has been ongoing discussion and debate about potential changes to the Social Security system in the United States. This year is the same as the Social Security Administration, which is considering numerous changes for 2025.