Millstone Financial Group Blog | Retirement & Wealth Advisor News
Our Blog2021-05-11T14:35:37+00:00
1406, 2021

4 Reasons to Have a 401(k) Strategy

June 14th, 2021|Retirement Income|

If you’ve saved a substantial amount in a tax-deferred retirement account, it will no doubt be instrumental in retirement. The next step is to strategize how you’ll use those savings. There are several important things to know about your 401(k), such as how much you can contribute, options for your 401(k) when you leave your job, and how RMDs work. Here are four reasons to have a 401(k) strategy.You Have Options for Old 401(k)sWhen you leave a job, you can either cash out of your 401(k), roll it over into a 401(k) at your new job, leave your money in the old 401(k) with your former employer, or roll it over into an IRA.[1] [...]

1106, 2021

4 Ways to Use Your Phone While Traveling

June 11th, 2021|Lifestyle, Retirement|

Do you plan on taking a vacation this summer? After forgoing travel for over a year, many people are planning trips this summer. If you do, there are many ways you can optimize your experience by using your phone. Your phone can be pretty much whatever you want it to be on vacation – a notepad, a map, even a flashlight. Here are four ways to use your phone on vacation. Make Lists Before you start your journey, you’ll have to pack. Maybe you already have a list you consult, or you make a mental list before every trip. You can also write a packing list on your phone that you can update whenever [...]

806, 2021

Is Our Government Anticipating Inflation?

June 8th, 2021|Economy, Financial Planning, Government|

The Consumer-Price Index (CPI) rose to 4.2% in April as compared to last year.[1] We could see higher prices when it comes to travel, food, cars, and other common goods and services. High inflation can hurt retirees who are living off their savings, especially when we have near-zero interest rates. We already see bigger Social Security Cost of Living Adjustments predictions to keep pace with inflation, conversations about how to protect money from inflation among investors, and legislation anticipating inflation.The Securing a Strong Retirement Act In 2019 we saw the SECURE (Setting Every Community Up for Retirement Enhancement) Act pass and change the rules regarding retirement account distributions and contributions, the taxation of inherited accounts, [...]

106, 2021

When Will You Transition from Saving to Spending?

June 1st, 2021|Financial Planning|

In retirement, you may have to transition from saving to spending. I believe You've worked hard to amass wealth, and now you must protect it from market downturns and make it last for the rest of your life. We have seen record highs in the stock market recently,[1] but the state of the market at the time of your retirement isn’t within your control. Here are three questions to ask yourself when preparing for and in retirement.When Will You Retire?The decision to retire isn't always based on money. Sometimes the desire for freedom, health problems, or a spouse's retirement can drive the decision. Retiring late or early can work out fine, granted you have [...]

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