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Posts by Gregory Ricks & Associates
12 Best States for Retirement: 2020
For most Americans, retirement generally occurs at the time they can start receiving Social Security or retirement benefits, according to a report released Monday by WalletHub, a personal finance website. For those whose finances in retirement is a big concern, relocating to a state that lets them keep more money without requiring a major lifestyle change…
Read MoreIs it time to have ‘that talk’ with your aging parents about their finances?
Advice from the author of ‘Mom and Dad, We Need to Talk’ Having the conversation now can save all of you a lot of trouble in the future. Cameron Huddleston, author of “Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances,” remembers the birds-and-the-bees talk she had as…
Read MoreThese are the top Money and investment trends to watch out for in 2020
All in all, 2019 was a pretty strong year for the economy. Job growth was brisk, with both inflation and interest rates low. Economic growth was decent as recessionary fears have abated. Consumers remain confident, highlighted by solid holiday sales. But this doesn’t mean everyone is prospering. Here are some money and finance trends to…
Read MoreThe average American starts saving for retirement at this age
The sooner you start saving for retirement, the more opportunity you’ll have to build a solid nest egg without having to sacrifice too much on an ongoing basis. But data from Nationwide tells us that Americans are putting in roughly a decade in the workforce before giving their long-term savings a thought. The average American begins funding a…
Read MoreCongress’s 5 Biggest Changes In 2020 That Will Impact the Future of Your Retirement
American flag waving with the Capitol Hill in the background-GETTY The days of relying on Social Security and defined benefit plans for a secure and comfortable retirement are swiftly coming to an end. The next waves of retirees should have substantial personal savings in order to create a detailed and long-lasting plan, better than those…
Read MoreObservations from the Brink of Retirement
A retirement income specialist shares three important lessons he’s learned during his own financial and mental journey as he gets ready to dive into retirement. His personal insights could help guide your path as well. Planning for my own retirement has been interesting, as my day job is teaching financial advisers about retirement planning. At…
Read More6 Ways The SECURE Act May Impact Your Retirement
GETTY The new Setting Every Community Up For Retirement Enhancement (SECURE) Act, just signed by President Trump, is the broadest piece of retirement legislation passed in 13 years. Ultimately, the law focuses on retirement planning in three key areas: 1) modifying required minimum distribution (RMD) rules for retirement plans; 2) expanding retirement plan access and…
Read MoreMisconceptions may lead to dehydration in older adults
A new study looks at what keeps older adults from getting sufficient fluids to avoid negative health outcomes. New research stresses the importance of staying hydrated as we get older. Staying hydrated seems simple enough. Yet studies have shown that somewhere between about one-third and one-half of older adults may be dehydrated, increasing their risk of health…
Read More10 Top New Year’s Resolutions for Success and Happiness in 2020
Studies show that about 60 percent of us make New Year’s resolutions each year–sadly, only about 8 percent of us achieve them. As the New Year fast approaches, it’s natural to feel a bit excited by the prospect of leaving behind the old year and beginning anew. In fact, research shows that about 60 percent of us…
Read More10 Ways to Reduce Your 401(k) Taxes
How the pros help clients minimize their tax burden If you have a traditional 401(k), you will have to pay taxes when you take distributions. Unfortunately, that 401(k) money is subject to the worst kind of taxes—ordinary income taxes. The amount you pay is based on your tax bracket, and if you’re younger than 59½, add 10% (for early withdrawal) in…
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