Retirement - North Light Financial Services

How Impatience Hurts Retirement Saving

How Impatience Hurts Retirement Saving Keep calm & carry on – it may be good for your portfolio. Why do so many retirement savers underperform the market? From 1993-2012, the S&P 500 achieved a (compound) annual return of 8.2%. Across the same period, the average investor in U.S. stock funds got only a 4.3% return. What accounts for the difference?1,2 One big factor is impatience. It is expressed in emotional investment decisions. Too many people trade themselves into mediocrity – [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:29-04:00July 25th, 2013|Investing, Retirement, Stock Market|Comments Off

Reassessing Retirement Assumptions

Reassessing Retirement Assumptions What makes financial sense for some baby boomers may not make sense for you. There is no “typical” retirement. Many baby boomers want one and believe that they will have one, and their futures may indeed unfold as planned. For others, the story will be different. Just as there is no routine retirement, there are no rote financial moves that should be made before or during this phase of life, and no universal truths about the retirement [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:30-04:00May 2nd, 2013|IRA, Retirement, Saving & Budgeting, Social Sercurity Planning|Comments Off

Important IRS Adjustments for 2013

IRAs & workplace retirement plans have higher contribution limits. The IRS has set annual contribution limits for IRAs, 401(k)s and other retirement plans higher for 2013, and made other important adjustments for inflation as well. Here is an overview of some notable changes just announced. The 2013 IRA contribution limit: $5,500. This is a $500 increase from 2012, and it applies to both Roth and traditional IRAs. The IRA catch-up contribution limit for those 50 and older remains $1,000.1,3 The [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:31-04:00November 29th, 2012|401(k)/403(b), IRA, Personal Finance, Retirement|Comments Off

Avoid Making Retirement Planning Mistakes

THE MAJOR RETIREMENT PLANNING MISTAKES Much has been written about the classic financial mistakes that plague start-ups, family businesses, corporations and charities. Aside from these blunders, there are also some classic financial missteps that plague retirees. Calling them “mistakes” may be a bit harsh, as not all of them represent errors in judgment. Yet whether they result from ignorance or fate, we need to be aware of them as we plan for and enter retirement. Leaving work too early. [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:32-04:00September 27th, 2012|Personal Finance, Retirement|Comments Off

IRA Dates & Milestones to Remember

IRAs come with complex rules and regulations. As these rules and regulations are occasionally forgotten or misinterpreted by IRA owners, here is a refresher. Age 70½: Required Minimum Distributions (RMDs). Once you reach age 70½, you are required to make withdrawals from any traditional (“regular”) IRAs that you have established. (Original owners of Roth IRAs never have to take RMDs.)1 **You must take your initial RMD from a traditional IRA by April 1 of the year following the year during [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:34-04:00May 24th, 2012|IRA, Retirement|Comments Off