Retirement is made up of three components: pensions, social security and savings. You can think of retirement as a three-legged stool. However each of the three components doesn’t support an equal amount of the total. Pensions, the first leg of
In the classic 1986 comedy movie, Back to School, Rodney Dangerfield’s character, Thornton Melon, an uneducated self-made millionaire, enrolls in college to support and encourage his son who has doubts about whether or not he can succeed in college. Thornton’s
Our clients at HFA are inevitably trying to answer the ever-present question: “When should I retire”! Independent of the financial planning and retirement projections we conduct for clients on a daily basis we have read about interesting trends concerning retirement
About this time of year, most employees are asked to come up with a few goals for the next calendar year. For some, this task presents a period of anxiety, confusion and stress. Many of the people trying to create
Retirement is so much more than how much money you have, how much you want to spend or how long you plan to live (still no exact science to predict that last one). While I am not going to argue
At Hoover Financial Advisors we counsel many clients daily on "Retirement Readiness" issues. One of our goals is to help clients create a roadmap or blueprint for their retirement years. But, to borrow from the title of the ancient Rome
Saving for retirement may be one of the most important decisions you do with your money, which can be very intimidating. There are many questions that will run through your head, such as, why should I save? When should I
Many of our clients struggle to understand the spousal options of Social Security benefits. Here are some clarifications we hope will help answer some of your questions: A Social Security spousal benefit applies to: Current spouses Widowed spouses Ex-spouses Who is Eligible
According to the Bureau of Labor Statistics, 35% of the U.S. workforce consists of freelance contractors and that number is likely to increase as automation and technology continue to reduce payrolls. Many self-employed individuals assume their retirement savings strategy is
Clients have become increasingly concerned about rising healthcare costs, both current and projected. Solutions for funding these costs have become an important part of client engagement and the financial planning process, and understandably so. According to the Employee Benefit Research Institute
Bring back 2017! For the last nine quarters, the broad Standard & Poor's 500 stock index was positive and investors generally made money. For the first quarter of 2018, the index
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