Solar Eclipse 2017


Hopefully, you had the chance to watch the total solar eclipse on Monday as is swept from Oregon to South Carolina. Many viewers traveled to locations to see it in totality, while others were content with seeing a portion of the moon cover the sun.
Regardless, many people took numerous steps to prepare for this “once in a lifetime event”. Whether viewers hunted down special glasses, made their own “glasses” at home, or traveled to a viewing location, time was spent to observe this experience. An experience that lasted a maximum of 2 minutes and 38 seconds depending on your location.
A question you need to ask yourself, are you spending just as much time preparing for your “once in a lifetime” event?  This of course is your retirement, which will last a lot longer than two minutes. Viewers of the eclipse took the necessary steps to protect their eyes and secure the best vantage point for viewing. Have you done enough planning with your assets to experience and accomplish what you want to do during your retirement?
Setting aside time to address questions and concerns surrounding your retirement is critical to achieving your goals. Just as you can devote time to view the eclipse, you need to find time to address the financial concerns you have been delaying about retirement.  At GFA, we coach our clients by recommending financial solutions to their unique needs.
Lastly, if you missed the total eclipse, don’t worry you won’t have to wait another 38 years to view the next one. The next total eclipse will sweep from Texas to Maine on April 8, 2024.  Mark the date but more importantly mark the date of your retirement.  Just make sure you are not putting off retirement planning until that date.
Please reach out to us with any questions or financial concerns relating to your retirement. We look forward to being of service. 

Kevin and KJ
708-444-2010
Kevin@griffinfa.com

Comments

Post a Comment

Popular posts from this blog

Mortgage Rates Lowest on Record

Image
Last week, the average rate on the 30-year fixed rate mortgage (FRM) fell to 2.98%. This is the lowest level in almost 50 years of recorded rates. With the cost of borrowing being so cheap, now may be the perfect time to refinance an existing mortgage or consider a new home purchase. Contacting a mortgage lender or originator could be of benefit to improving your financial position. How did we arrive at such low rates? As you know, the coronavirus pandemic rocked the economy. With a dark economic forecast, the Federal Reserve had to aggressively respond. One key action taken by the Federal Reserve was to lower interest rates. Investors also contributed to reducing rates by fleeing risk assets and investing in safe-haven assets, such as Treasuries. Remember, when an investment is in demand, its price moves higher. For bonds, as prices rise, yields or rates move lower. This is further illustrated by looking at the most popular debt instrument, the 10-year Treasury. The 10-...
Read more

How to Handle Your 401(k) When You Leave a Job or Retire?

Image
As advisors, we often get asked “what should I do with my 401(k)?” The reason for this question is because most individuals will experience some type of transition throughout their careers. Some individuals leave their current employer and join a new one. Others, unfortunately, may face the hardship of being let go. Others, after enjoying a rewarding career, just retire. Regardless of the transition you face, you have four options for your 401(k): Keep it where it is in your existing plan. Roll it into the 401(k) at your new employer (if allowed). Roll it into an Individual Retirement Account (IRA). Cash it out, withdraw the funds. Let’s explore each option and what implications they have on the choice. Keep it Where it is To start, keeping your 401(k) where it is is pretty self-explanatory. It is the most common choice according to a recent study conducted by the Vanguard Group. The study found that investors who separated from their employers in 2018 were more like...
Read more

Back to School- 529 Savings Plans

Image
529 Savings Plans were created back in 1996 to allow individuals a tax-advantaged way to save and pay for education expenses. These plans have been very successful. In fact, The Center for Social Development found that children who have a 529 plan are approximately three times more likely to attend college. We will discuss the plans available and how they work.  Types of 529 Plans in Illinois Currently in Illinois, you can utilize two providers for 529 plans. One of the providers is Bright Star.   Here, participants manage the 529 plan on their own. The second provider is Bright Directions . This provider allows financial advisors to manage the 529 plan for you. Managing the plan involves selecting the custodian and beneficiary, as well as choosing the investments.   The custodian, an adult, is the person who makes the decisions for the plan.   Primarily this includes handling contributions, investments, and distributions.   The beneficiary is the pe...
Read more