Simplicity Digital Advisor

28
Nov

12 Tips to Help Your Holiday Budgeting

Holiday spending and holiday budgeting go hand-in-hand. Holiday spending doesn’t just include gifts. Holiday spending on food, decorations, travel and more during the holiday season may often increase your monthly spending.

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21
Nov

Incorporating Giving Back into Your Year-End Financial Planning

If you’re incorporating giving back as part of your year-end financial planning, there are many ways you can do so.

You can make an impact while receiving tax benefits by giving as part of an approach to charitable giving. You may want to consider philanthropic giving. Which addresses the root cause of social issues and requires a more strategic, long-term strategy, versus donating which tends to be more occasional giving.

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14
Nov

Thinking About Delaying Retirement? Here’s What to Consider

If you’re unsure about retiring and are considering delaying retirement, you must consider if you have enough retirement savings. Do this before making your decision. Examining retirement savings benchmarks and having a comprehensive financial plan that outlines specific actions are the first steps toward knowing if you should delay your retirement. Also, some questions to ask yourself to help determine your retirement readiness include:

7
Nov

Drawing Social Security Early and Still Working? Here’s What You Need to Know.

Some people decide to retire early and start drawing Social Security early. Many people are unable to live out their retirement plans due to inadequate retirement savings. In addition, many are spending retirement working another job.

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31
Oct

The Fed Is Rising Interest Rates: Will It Impact You?

Interest rates are rising again as The Fed continues working towards raising the target interest rate to a “terminal rate,” or endpoint, of 4.6% in 2023. The terminal rate implies a quarter-point rise next year but no decreases, with a goal to slow spending and help curb the inflation rate as it stretches the dollar.

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19
Sep

Charitable Giving in Your Financial Plan

As you grow your wealth, you may find the desire to give back. That’s where charitable giving comes in. Charitable giving can allow you to support causes and organizations you believe in while reducing your income tax, capital gains, and estate taxes. Here are several ways to incorporate charitable giving into your overall financial plan:

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12
Sep

College Planning as Part of Your Financial Plan

While there’s no obligation to pay for your child’s or grandchild’s college education. Helping them fund some or all of it can allow them to avoid overwhelming amounts of student loan debt. It can also help them to begin adulthood on the right foot.

Here are some tips if you’re interested in incorporating college planning into your financial plan:

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5
Sep

Budgeting for Travel in Retirement

If you love to travel and immerse yourself in new cultures and experiences, there’s a good chance you’re looking forward to traveling in retirement.

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29
Aug

The Do’s and Don’ts of Reducing Debt

According to one study, the average American has $90,460 in debt, which includes all types of consumer debt, such as credit cards, personal loans, and car loans.

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22
Aug

The Impact of Inflation on a 401(k)

In simple terms, inflation is the rate at which the cost of goods and services rises. Due to inflation, it costs more money to buy groceries, gas, or anything else than it did in the past. Inflation can also affect your retirement savings as stocks, and other investments don’t automatically adjust for it. Rising inflation means your investments will have to work harder to keep pace. The extent to which inflation will impact your 401(k) will depend on several factors, like your investing strategy and how close you are to retirement.

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