A pension is a valuable workplace benefit that puts most of the responsibility on your employer. In exchange for your service, your company provides a significant amount of money for your retirement. You don’t have to choose or manage a set of investments. However, you do have to eventually make a big decision: Should you take a lump sum or annuity pension payout?
From investments to taxes, money can be a complicated and intimidating thing to navigate. That was true before the coronavirus – and it’s true now. The difference is that the economic impact of the pandemic has both exacerbated previous problems and introduced new stresses.
Social Security will undoubtedly be a part of your retirement plan, and if you’re like many Americans, work may be, too.
Advance Capital Management’s president and chief investment officer, Christopher Kostiz, provides his key economic and market insights from the most recent quarter.
One of life’s greatest joys is to plan for a future with someone you love. But no plan is complete without planning for what could go terribly wrong. For married couples, that is often the loss of the other.
Here’s a quick, easy mental exercise: How close to the dollar can you recall your recurring expenses (mortgage, car, electricity, etc.). You’re probably on the money or close for most of them. But, how about for your investment fees? Is that a little harder?
Ask a friend or relative how much money they make, you’re likely met with silence. But ask for an investment tip and seemingly everyone opens right up – for better or worse.
These days, it is rare for someone to spend their career in one place. Most people jump around, leaving for a higher salary or winning work culture, much like professional athletes. There is nothing wrong with trying to better yourself, but it can come with a downside when you’re ready to hang it up: finding all of your old retirement benefits.
Last week, Advance Capital Management was named to the Barron’s list of America’s Best RIAs. We are honored and grateful to our clients for making this possible.