Did you know that last year, roughly 1.66 million new homes were constructed? This includes single-family homes (975 million), 2-4 unit residences (54.8 million), and buildings with 5 or more family units (635 million). This total number is actually down from the 1.73 million new homes built in 2021, and 2023 is on pace for … Continue reading “Housing Starts in Decline”
Housing Starts in Decline
Insurance Needs Assessment: For Empty Nesters and Retirees
With the children now out of the house, financial priorities for Middle-Class Millionaires become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning power and fast approaching peak savings as you lay the groundwork for retirement. During this final leg to retirement—and throughout your … Continue reading “Insurance Needs Assessment: For Empty Nesters and Retirees”
9 Facts About Retirement
Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to take, here are nine things about retirement that might surprise Middle-class … Continue reading “9 Facts About Retirement”
9 Facts About Social Security
Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how it works, but how much do you really know? Here are nine things that might surprise you. The Social Security trust fund is huge. It was $2.8 trillion at the end of 2022. Most … Continue reading “9 Facts About Social Security”
How Women Can Prepare For Retirement
When our parents retired, living to 75 amounted to a nice long life, and Social Security was often supplemented by a pension. The Social Security Administration (SSA) estimates that today’s average 65-year-old woman will live to age 86½. Given these projections, it appears that a retirement of 20 years or longer might be in your … Continue reading “How Women Can Prepare For Retirement”
Countdown to College
Many middle-class millionaires of course want to give their child the best opportunity for success, and for many, attending the “right” university or college is that opportunity. Unfortunately, being accepted to the college of one’s choice may not be as easy as it once was. Additionally, the earlier you consider how you expect to pay … Continue reading “Countdown to College”
Eight Mistakes That Can Upend Your Retirement
Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes we help our Middle-Class Millionaire clients steer clear of: No Strategy: Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing … Continue reading “Eight Mistakes That Can Upend Your Retirement”
9 Facts About Retirement
Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to take, here are nine things about retirement that might surprise you. … Continue reading “9 Facts About Retirement”
Traditional vs. Roth IRA
Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 36.6 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 27.3 million households. Both are IRAs. And yet, each is quite different. Up to certain limits, traditional IRAs allow individuals … Continue reading “Traditional vs. Roth IRA”
SECURE Act 2.0: An Overview
In late 2022, Congress passed a new set of retirement rules designed to make it easier to contribute to retirement plans and access those funds earmarked for retirement. The law is called SECURE 2.0, and it’s a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in 2019. We know a … Continue reading “SECURE Act 2.0: An Overview”