Preparing for retirement during your career as a university professional can be both exciting and daunting. While there is much to look forward to as you approach this major milestone, it’s easy to make some critical planning mistakes. This educational webinar identifies practical tips to help university professionals assess their financial situation ahead of retirement. The post Mistakes to Avoid When Retiring from a University [On-Demand Webinar] first appeared on Savant Wealth Management ..read more

Elections have the ability to stir up emotions like nothing else, and even at this early stage in the election cycle, this presidential race has already moved into that territory. I am beginning to hear grumblings and questions about my thoughts on the race and the impact could have on investment holdings. While political debate is healthy from a democratic process perspective, it can be dangerous if you allow politics to influence your investment decisions. I can’t possibly stress how important this is. I’ve witnessed countless examples of pent-up emotions clouding investment judgment over th ..read more

The recent death of Nobel laureate Daniel Kahneman, author of Thinking, Fast and Slow, marks a great loss for psychology and economics. His groundbreaking work on cognitive biases and decision-making offered invaluable wisdom for retirees navigating the investment landscape while preserving wealth and generating income. Kahneman exposed biases like overconfidence, loss aversion, and availability effect that can cloud judgment and lead to poor investment decisions. By learning to recognize these biases, retirees can make more informed, rational choices to help their savings last through retirem ..read more

Participants may be attracted to self-directed brokerage accounts (SDBAs) because of the seemingly infinite choice of investment options. While it’s tempting to please these often-vocal employees, much consideration should be given when contemplating an SDBA option for your qualified retirement plan. There are several fiduciary issues your committee should discuss, decide, and document. Outside Advisors The impetus for the interest may be that participants want to take advantage of advice from an outside advisor with the intention of giving them access to the account to make trades. If so, the ..read more

Just as spring cleaning can revitalize your physical space, financial decluttering can simplify your financial life. This process helps organize your finances, reduces stress, and fosters a sense of control over your financial future. Here are five key strategies to get you started: 1 – Go Digital Ditch the paper trail! Shred outdated bank statements, pay stubs, and receipts once you’ve verified the existence of secure digital copies. Most financial institutions offer online statements, rendering physical copies unnecessary. The IRS will generally ask for the last three years of returns in the ..read more

In today’s fast-paced world, achieving financial stability and security has never been more crucial, yet it often takes a back seat. Whether you’re nearing retirement or a few years away, watch this recorded webinar with Business Development Officer, Steve Graziano, and Director of Financial Planning, Anne Mank, as they guide you through strategies to enhance your financial fitness. The post Are You Financially Fit [On-Demand Webinar] first appeared on Savant Wealth Management ..read more

Leaving 401(k) or 403(b) balances behind can result in orphaned accounts that sit unmonitored and unmanaged by participants for years instead of remaining an active part of their retirement planning. But this type of neglect can also hurt organizations that must continue servicing such accounts and pay for those services. A fiduciary’s obligations can increase significantly should a participant eventually “go missing.” While there are reasons an organization may prefer retaining past employees’ funds, such as access to lower fees for larger plans, it’s nonetheless important to advise participa ..read more

Are you approaching retirement age and looking to navigate this exciting phase of your life with confidence? Or perhaps you’re planning way ahead, eager to take control of your financial future. The post Gearing Up for a Successful Retirement [On-Demand Webinar] first appeared on Savant Wealth Management ..read more

Once the weather warms up, we throw open the windows and remember we should wash them. And the curtains, probably the floors, and the deck. After the house is in order from a good spring cleaning, reviewing your financial “house” is also a perfect project for your list. Thinking about your total financial picture can sometimes feel overwhelming and maybe even deter you from starting the review process. It may help to break this down into more manageable pieces. First, let’s start with: What do you have? What might you owe? When we’ve answered those questions, you’ll not only have a financial r ..read more

After years of focusing on saving as much as possible, in retirement you’ll need to switch gears and figure out a way to replace your paycheck with your savings. Cracking into your nest egg in a tax- and risk-efficient manner while reinvesting enough to support the rest of your life can be a complex and challenging topic. The post Replacing Your Paycheck in Retirement [On-Demand Webinar] first appeared on Savant Wealth Management ..read more