A new year is a great time to check in on your financial strategy to confirm you’re on track to reach your goals. Here are four financial resolutions to help people stay on the path to meet their goals that Edward Jones Advisors think you should know:
1. Perform a financial checkup
• Budget
• Emergency cash fund
• Debt
• Property/Casualty and Life Insurance Coverage
2. Reassess your retirement accounts
• RMDs for inherited IRAs
• Expanded access to 401(k) plans
• Higher contribution limits
3. Review your investments
• Cash and cash equivalents
• Portfolio
4. Revisit your gifting and Estate Plan
• Asset titling and beneficiary designations
• Annual Gifting
• Qualified charitable distribution
• Lifetime estate and gift tax exemption
Everyone’s retirement is uniquely theirs — likely different from that of their parents and even of friends and peers. That’s the essence of “the new retirement” — freedom to live the way one chooses.
While 22% of recently surveyed retirees define retirement to be “a time of rest and relaxation” (the traditional view), a significant majority (55%) think of it as “a whole new chapter in life,” with new opportunities and new challenges.
The Four Pillars of the New Retirement survey was conducted by Edward Jones in partnership with Age Wave and The Harris Poll. The online nationally representative survey was conducted from May 21 through June 4, 2020, among more than 9,000 adults age 18+ in the U.S. and Canada.
Overwhelmingly, the survey demonstrates that no matter what the next chapter looks like, there are four essential “pillars” that can impact quality of life in retirement: health, family, purpose and finances. Achieving ideal retirement requires thought and action about each of the pillars.
When Edward Jones talk about planning for the expected and preparing for the unexpected, these are the areas they will want to explore together in order to build a retirement strategy that is ready when their clients are.
Edwards Jones to fully understand the things clients value in their retirement so they can make sure they’re on the right track with a financial strategy that helps build and protect wealth for the retirement.
Donna Rapp, Financial Advisor, whose branch was formerly located in Oil City, is pleased to announce that her office has moved to a new location at 2141 Allegheny Blvd, Reno, PA 16323.
Serving the local community are the advisors: Donna Rapp (Reno), Brendan Allison (Clarion), Lance Cicciarelli (Clarion), Shelly Hartzell (Franklin), James McConnell (Knox), Brian Mong (Franklin), Chris Rakow (Franklin), Lori Sibble (Seneca), Chad Skoch (Seneca), Mike Watson (Titusville) and Jon Williams (Clarion).
