Should I Accept a Free Credit Lock?
Wealth Management Group LLC Blog
by Rebecca Mack
1d ago
In today’s increasingly connected world, protecting your information is arguably more important than ever. Your credit report consists of a slew of personal details, such as your financial activity, credit accounts, loans, and payment history. Because of the importance of your credit report, credit bureaus such as Equifax, Experian, and TransUnion offer credit locks to help protect consumers in the event of identity theft or fraud. Will a Credit Lock Help? Although a credit lock will freeze your credit report and score temporarily, there are some potential downsides as well. One of the bigges ..read more
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Preparing for the Expected
Wealth Management Group LLC Blog
by Rebecca Mack
4d ago
As Teddy Roosevelt once observed, “Old age is like everything else. To make a success of it, you’ve got to start young.” The challenges seniors have met throughout their lives have made them wiser and stronger, preparing them for the unique challenges that come with aging. As we age, the potential for cognitive decline increases, ranging from simple forgetfulness to dementia. Long-term illness can sap time and energy from tending to your financial affairs in retirement. Even a decline in vision may make it harder to manage your financial affairs. Fortunately, you can look ahead to help protec ..read more
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Inflation and the Real Rate of Return
Wealth Management Group LLC Blog
by Rebecca Mack
1w ago
The real rate of return is an important personal finance concept to understand. It’s the rate of return on your investments after inflation. The real rate of return indicates whether you are gaining or losing purchasing power with your money. So if inflation checks in at a rate of 6%, does that mean any investment with less than a 6% rate of return is losing purchasing power? That’s where it gets a little complicated. In theory, any investment with less than a 6% rate of return may lose purchasing power. But there are other factors you want to consider as well. For example, are inflation rate ..read more
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Eight Mistakes That Can Upend Your Retirement
Wealth Management Group LLC Blog
by Rebecca Mack
1w ago
  Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible. No Strategy: Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there—and if you’ve even arrived. Creating a strategy may increase your potential for success, both before and after retirement. Frequent Trading: Chasing “hot” investments often leads to despair. Create an asset allocation strategy that is properly diversified t ..read more
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What’s So Great About a Rollover?
Wealth Management Group LLC Blog
by Rebecca Mack
2w ago
Changing jobs can be a tumultuous experience. Even under the best of circumstances, making a career move requires a series of tough decisions, not the least of which is what to do with the funds in your old employer-sponsored retirement plan. Some people choose to roll over these funds into an Individual Retirement Account, and for good reason. About 35% of all retirement assets in the U.S. are held in IRAs, and 62% of traditional IRA owners funded all or part of their IRAs with a rollover from an employer-sponsored retirement plan.1 Distributions from traditional IRAs and most other employer ..read more
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Putting a Price Tag On Your Health
Wealth Management Group LLC Blog
by Rebecca Mack
3w ago
We hear over and over again how important it is to maintain a healthy lifestyle. But being healthy for its own sake isn’t easy—especially when you’re facing down temptation or battling procrastination. For some, the monetary benefits of a healthy lifestyle may offer helpful incentives. Being healthy not only makes you feel good, but it may also help you financially. For example, one study found a steep increase in annual medical expenditures for individuals whose Body Mass Index was above 30.1 If you’re wondering how your health habits might be affecting your bottom line, consider the followi ..read more
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Mortgages in Retirement
Wealth Management Group LLC Blog
by Rebecca Mack
1M ago
Anyone who has gone through the process of mapping out their retirement knows there can be a lot to keep in mind. Saving, investing, anticipating medical costs, and making sure you have enough tucked away for years to come is just the start. One question many people overlook is: “Should I pay off my mortgage before I retire?” The answer is more complicated than you may think. Maintaining a Mortgage in Retirement Opportunity Cost Imagine you have $300,000 set aside to pay off your mortgage. But rather than using those funds to pay off your mortgage, you instead invest that money. Sure it’s tem ..read more
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The Anatomy of an Index
Wealth Management Group LLC Blog
by Rebecca Mack
1M ago
Did you know that an estimated $13.5 trillion in assets are indexed or benchmarked to the Standard & Poor’s 500 Composite Index, including $5.4 trillion in index assets?1,2 The S&P 500 is ubiquitous – we see it on the news, read about it in the newspapers, and, very likely, see some of our own investments’ performance compared against it. For an index that represents approximately 80% of the value of the U.S. equity market, it may be worthwhile to gain a better understanding of how it works.1 Cap & Criteria The index, as we know it today, was introduced in 1957 and is maintained b ..read more
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Retirement Seen Through Your Eyes
Wealth Management Group LLC Blog
by Rebecca Mack
1M ago
How do you picture your future? Some see retirement as a time to start a new career. Others see it as a time to travel. Still others plan to spend more time with family and friends. With that in mind, here are some things to consider.  What do you absolutely need to accomplish? If you could only get four or five things done in retirement, what would they be? Answering this question might lead you to compile a “short list” of life goals, and while they may have nothing to do with money, the financial decisions you make may be integral to pursuing them.  What would revitalize you? Som ..read more
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Is a SEP-IRA Right for Your Business?
Wealth Management Group LLC Blog
by Rebecca Mack
1M ago
If you’re like many small business owners, running your own business is an all-consuming endeavor. In the face of everyday demands, choosing a retirement strategy for your business can become a casualty. The idea of establishing a plan could evoke worries about complicated reporting and administration. If this sounds familiar, then you may want to consider whether a Simplified Employee Pension Individual Retirement Arrangement (SEP-IRA) may be right for you. A SEP-IRA can be established by sole proprietors, partnerships, and corporations, including S corporations. The advantages of the SEP be ..read more
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