Wealth building isn’t about get-rich-quick schemes or chasing the trends in the stock market. Often, it just comes down to making the right financial decisions, big and small, over an extended period of time. Recently, we came across an Investopedia.com article from May 2019 entitled, “3 Simple Steps to Building Wealth.” We thought these steps were worth sharing. Sometimes, it can seem like the secret to wealth building is a mystery, when in fact it can be simpler than you think. Don’t get … [Read more...] about Building Wealth Might Be Simpler Than You Think
Barbara Clark Stevenson
Rebalancing Your Portfolio Allocations
In today’s uncertain financial landscape and based on the market run-up we have seen the last few years, we believe it is more important than ever to establish a well-maintained portfolio that can help you reach your financial goals. Your portfolio needs to not only meet your need for capital, but also provide you with financial peace of mind. While there’s no simple formula to help you figure out how your portfolio should be constructed, determining the right asset allocation should be the … [Read more...] about Rebalancing Your Portfolio Allocations
Discussing the Number One Concern About Retirement
Baby Boomers are retiring at astonishing rates and are looking for ways to replace their steady paycheck. They are worried about the potential of Social Security diminishing and what might happen to their retirement if it does. At American Financial Security, we believe that the number one concern for most pre-retirees and retirees is outliving their money. It is important to safeguard your retirement so you do not have to worry about outliving your retirement income. At American Financial … [Read more...] about Discussing the Number One Concern About Retirement
Using Life Insurance for Financial, Tax Planning
Do you have a financial plan set up to protect your loved ones after you pass away? With a well-thought-out life insurance plan, you can do just that. The purpose of life insurance is to help provide a measure of financial well-being for your family and loved ones when you are no longer there. With the purchase of a carefully planned life insurance policy, you can help ensure that your family and loved ones will be taken care of. Life insurance offers two essential benefits. First, it offers … [Read more...] about Using Life Insurance for Financial, Tax Planning
Re-Balancing Your Portfolio Allocations
In today’s uncertain financial landscape and based on the market run up we have seen in 2017, we believe it is more important than ever to establish a well-maintained portfolio that can help you reach your financial goals. Your portfolio needs to not only meet your need for capital, but also provide you with financial peace of mind. While there’s no simple formula to help you figure out how your portfolio should be constructed, determining the right asset allocation should be the first step … [Read more...] about Re-Balancing Your Portfolio Allocations
Is it Time to Schedule a Retirement Checkup?
When was the last time you reviewed your financial life? In the same way that it’s important to go to the doctor for a physical, comprehensive retirement check-ups are crucial to your financial success down the road. In today’s technology-driven world, it’s easy to put your finances on autopilot. From automatic deposits, online statements and automatic 401(k) contributions, it can be easy to leave your retirement plan unsupervised. But, how do you go about starting the retirement check-up … [Read more...] about Is it Time to Schedule a Retirement Checkup?
Retirement Planning: The Big Picture
As a future or current retiree, it is important for you to take into consideration the big picture of your retirement planning. Once you have the full picture, it helps you make more detailed and necessary decisions to achieve the retirement for which you have worked your whole life. One of the first steps to take when planning your retirement is to find a financial professional who puts your needs and interests first. At American Financial Security, we take your whole financial and tax … [Read more...] about Retirement Planning: The Big Picture
Creating Your Own Retirement Plan
Saving for retirement has become much more simple with automated savings for accounts like 401(k)s, but what do you do if you’re self-employed or work at a company that doesn’t offer a retirement plan? According to a study by the Employee Benefit Research Institute, fewer than half of American workers participate in an employment-based retirement plan. Whether you work for a small company that doesn’t offer retirement options, you’re a part-time employee that is ineligible for benefits, or … [Read more...] about Creating Your Own Retirement Plan
On Track for the Retirement You Want
When it comes to being prepared for retirement, you may not be as set as you think. According to TIAA’s 2017 Lifetime Income Survey, fewer than half of Americans are aware of how much they have saved for their golden years. Now is the perfect time to sit down and analyze your current financial picture and see how it stacks up to where you hope to be when you reach retirement. But where do you start? A good first step is to look at what you have saved thus far – this includes anything in … [Read more...] about On Track for the Retirement You Want
Do You Feel Prepared for the Cost of Long-Term Care?
According to Genworth Financial, the average annual cost of a private nursing home room in the United States is $92,378, while a home health aide runs about $45,760. Many people assume that Medicare and other forms of health insurance will cover these costs, but in reality, long-term care is not considered a medical expense and Medicare will only cover certain aspects. Medicaid will help many seniors pay for long-term care, but in order to qualify you will have to spend most of your assets, … [Read more...] about Do You Feel Prepared for the Cost of Long-Term Care?