The household saving rate in the United States has been on an uptrend for years. And while we’ve been staying at home to help prevent the spread of COVID-19, the saving rate in the US reached a level not seen in over twenty-five years. For most of the past twelve months, we were saving at an annualized rate of 7.5% – 8%. But in March that rate increased to over 13%. And the recently released April figure hit a whopping 33%! Americans are saving more. And this trend is expected to continue throughout the summer. But why?
Are you confident with how much you need for retirement? Here are 4 ways to gauge your saving for retirement so you can decide if you need to make changes.
When it comes to protecting your financial stability for retirement, you are bound to face a fork in the road when deciding how to secure your future funds.
By Joe Globensky, RFC®Reasons People Give to CharityThere are many reasons why people give money to charity:Giving to charity makes you feel good,Giving to charity strengthens personal values,Giving is more impactful than ever,Giving to charity introduces...
By K. Bridget Schneider, CFP®, CRPC®Last month we suggested a few reasons early retirement planning is important. That’s valuable information for Millennials, but what if you’re a Gen Xer? You don’t need to feel like you’ve missed the boat. For those of...
By Joe Globensky, RFC®Whether you have been a self-employed professional for years, or you’ve recently become self-employed, the success of your business is in your hands. You need to take advantage of whatever assistance is available, and this includes...
By K. Bridget Schneider, CFP®, CRPC®What is retirement planning? Basically, it’s a process of determining how much money you’ll need in retirement and the steps to make that happen. You identify future income sources, estimate expenses, implement a...
By Joe Globensky, RFC®“2020, we’re so glad you’re done, so we can all have an enjoyable 2021.” See what I did there? Now that my new year poetry resolution has been accomplished, let’s move on.REFLECTIONI wanted to spend some time over New Year’s weekend...
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