Dr. April D. Murdaugh’s Post

Saving for retirement poses challenges for Americans, particularly those with access to retirement plans. It's lamentable that a significant portion of Americans lack such access. If you happen to work for an employer that doesn't provide a retirement plan, I can assist either in initiating one for the employer or helping you establish your own. Book a call: https://lnkd.in/e8TSPz24

How much you spend in retirement matters. If you’re spending between 5% and 6% of your retirement capital, that’s a good target. But if you’re spending closer to 10% you run a high risk of running out of money.

Whether you feel like you've fallen behind on your retirement savings plan or are on track and simply want some added financial security leading into retirement, a powerful provision for age 50+ers to supercharge their retirement plan is Catch-Up Contributions. In our most recent article we dive into the following topics about Catch-Up Contributions: - How catch-up contributions work - How to implement this provision - A word of caution before rashly implementing To see if a few minutes of reading can get you closer to your retirement goals, click here: https://lnkd.in/dbzG-yhx Brandon Archibald Peter Laufenberg Markus Cole

There is a difference between retirement planning and retirement income planning. Retirement planning involves all your aspirations, while retirement income planning is more basic: how will the bills get paid once you’re no longer employed. https://lnkd.in/ek-zCbzn. Plan ahead with a financial advisor who will help you calibrate according to the year you wish to retire. https://bit.ly/4botRK4 #financialliteracy #401k

A recent survey revealed that 4 out of every 10 Americans don't believe they'll ever be able to afford to retire. Ready to start preparing for retirement? Learn more at our blog, How to Build a Retirement Plan, https://hubs.la/Q02nCkjg0

Are you confident in your understanding of your 401(k) plan? Many individuals aren't fully aware of the details, and this lack of understanding can impact your financial future. From tax benefits and contribution limits to employer matching and withdrawal rules. This knowledge is essential for making informed financial decisions and securing a comfortable retirement. Take a moment to reflect: Are you making the most of your retirement plan? Understanding these aspects can significantly impact your financial future. Dive deeper into the intricacies of 401(k) plans and empower yourself with the knowledge to optimize your retirement savings. https://lnkd.in/erW7SzWU

The Employee Retirement Income Security Act – a bedrock of American retirement policy - is turning 50. It’s time to modernize it. Let’s start by increasing access to savings options for those without a retirement plan; making saving automatic in employer plans; adding more retirement payout solutions including lifetime income; and offering education to empower people to make better financial decisions. Together we can modernize retirement policy and plan design to help more people realize the dream of a secure retirement. #retirementsecurity Read more: https://lnkd.in/e-7R5QtG #ERISA50 #retirementsecurity

🤔Does your retirement plan take into account your income needs for the 3 stages of retirement❓❓❓ The Go-Go Years, Slow Go Years, and No Go Years ALL have different concerns. Your retirement plan needs to address each season efficiently. Learn more about a comprehensive plan here https://hubs.ly/Q02MZqpf0 #houstonretirementplanning #financialadvisor #financialplanning #retirementincome

Having a clear framework in place to govern our spending in retirement is crucial. I discuss a simple framework for retirement spending in this new blog post Spending Effectively In Retirement https://lnkd.in/dMJGKb56

Many retirees share one core question: “How much do I need to have saved for retirement?” In the latest Modern Retirement Monthly report, we help answer this question in two ways: First, we estimate a “sustainable withdrawal rate”—a way to determine if your retirement savings can fund enough withdrawals to cover your lifestyle spending needs. Secondly, we cover a “wealth-to-withdrawal” multiple analysis, which can help you determine how much you need to set aside for retirement given a certain amount of planned portfolio withdrawals. While this report outlines some helpful rules of thumb and guidelines to follow, this is only a starting point. We recommend a more detailed conversation about your personal circumstances, retirement goals and resources. #scfwealthmanagementgroup Thomas Cavada, CFP®