FAQs about RMDs

If you are age 72 or older, the Internal Revenue Service (IRS) may require that you withdraw a minimum amount from your retirement account(s) every year. This is called a required minimum distribution (RMD). Note: If you turned age 70 ½ prior to January 1, 2020, your RMDs are based on age 70 ½, not… Continue reading

Playing the Role of Caregiver and Money Manager

If you serve as a caregiver for a loved one, you likely have several responsibilities — nurse, cook and housekeeper, to name a few. But your loved one might also need assistance in managing their finances. If you find yourself in this position, your loved one may want to consider granting you “power of attorney”… Continue reading

How Your Personality Affects Your Investments

What words come to mind when you think about your personality traits? Impulsive? Confident? Organized? Now think about how you make investing decisions. Would the same words apply? Certain psychological traits can influence your investment decisions — often at the expense of logic. The result could be investment returns that don’t match your expectations. Consider… Continue reading

The Path to Financial Wellness

People who are serious about improving their physical health know that it requires effort and a series of small steps taken over time. It’s much the same with improving your financial health. Here are some steps you can take to start or continue your journey to financial wellness. Look for Savings in Your Day-to-Day Spending… Continue reading

Weathering the Storm

Investment markets, like Michigan’s weather, can have beautiful days and downright dreary days. While we all hope for mild temperatures and sunny skies, the clouds will eventually roll in. But with proper planning and an eye on your long-term goals, you can position your portfolio to weather various market conditions. Know What You Can Control… Continue reading