Money Moves to Consider Post-Retirement

Many things change when you retire. Here’s how you can determine the best way to handle your assets and investments within this new framework. When you enter retirement, you’ll immediately notice two things: You no longer draw a salary, and you have more time on your hands. Use that time to effectively manage your finances … Continue Reading

Five Strategies for Tax-Efficient Investing

As just about every investor knows, it’s not what your investments earn, but what they earn after taxes that counts. After factoring in federal income and capital gains taxes, the alternative minimum tax, and any applicable state and local taxes, your investments’ returns in any given year may be reduced by 40% or more. For … Continue Reading

Retirement: What About Your Other Financial Goals?

Let’s say that at the age of 25, you earned $35,000. If your salary increased at the average historical rate, you’d have earned nearly $2 million in total by the time you were 65.(1,2) That might sound like a lot – until you begin thinking about all the financial goals you’ll need to juggle in … Continue Reading

How — and When — Do I Sign Up for Medicare?

In most instances, you become eligible for Medicare on the first day of the month you turn age 65. Whether you need to sign up, and how to go about doing so, depends on the type of coverage you select and whether you collect Social Security benefits prior to becoming eligible for Medicare. Medicare Part … Continue Reading

The Gift of Investment Savings

The holidays are quickly approaching. Consider celebrating the season by giving a gift of investment savings to your young loved ones. Cash and investment securities are always a welcome gift, especially when the purpose is as well defined as paying for college, a wedding, or a home. Intelligent gift giving maximizes tax benefits to the … Continue Reading

The Transition into Full Retirement

Your full retirement has arrived! Let’s take a look at how to transition to living solely on your retirement income and savings. If you’re like many seniors, you may have postponed your full retirement, perhaps by working or consulting part time. Transitioning to a work-free life can be exhilarating yet worrisome, but you have options. … Continue Reading

The Cost of Relocating

It’s natural to consider relocating for retirement. But financially, moving after retirement can sometimes be a big risk. You’ve worked hard and built a retirement nest egg that could finance a move to another place. Such a move could be a financial plus, or it could potentially drain your savings and shortchange your future. Take … Continue Reading

Pretend You’re Retired for a Month

  Lessons to learn from this experiment on being retired. Retirement is ideally a happy time of your life, freeing you up to do things you’ve long postponed. However, the prospect of being retired can also cause stress if you’re not sure you have enough money to retire in the lifestyle you’d like. We suggest … Continue Reading

More Women Drive Financial Decision Making, But Fewer Seek Professional Advice

By default, single women have always taken responsibility for managing household wealth and financial decision making, but the latest in a series of ongoing studies into the attitudes and actions of women around financial topics found that an ever-increasing percentage of married women are taking charge of financial and retirement planning for their families. Prudential’s … Continue Reading

Evaluating Professional Advice: 11 Questions to Answer Before You Commit

Obtaining and evaluating professional advice is a significant step and should not be approached lightly. As with investors and their objectives and constraints, professional advisors also differ in their philosophy, processes, services, education, experience, and their ability to add value.   Professional advisors work in many fields and hold various titles, such as investment advisor, … Continue Reading

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The views, opinions, and ideas articulated in this blog are just that, and should not be construed as financial or legal advice. The writers of these blogs are educated on the topics they are writing about, but they are in no way licensed financial advisors or registered investment advisors. Diamond Credit Union is not responsible for any actions a person may take as a result of the information they read in one of our blogs.