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Researchers have estimated how much of our lifetime is spent on various activities. For example, based on a lifespan of 80 years, the average person will spend:1 26 years sleeping 7 years trying to get to sleep 13 years at work 8 years watching TV 5 years eating 3 years on social media 3 years on vacation 1 year exercising 1 year socializing 1 year in primary and secondary school…

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stock market roundup

Between 1926 and 2018, the S&P 500 experienced double-digit annual losses only 11 times. Not only did the market recover, but the index has never permanently lost ground in any rolling 15-year period during that timeframe.1 While past performance is no guarantee of future results, that bit of history is good for stock investors to keep in mind in the wake of recent market volatility. Here’s another factor to consider:…

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According to IRS estimates, taxpayers collectively pay about 82 percent of taxes they legitimately owe. This amounts to about $458 billion annually in lost taxes, based on data from 2008 to 2010.1 Of course, we do not recommend strategies to avoid legitimate tax liabilities. However, it is important to stay current with the constantly evolving tax code or work with an experienced tax advisor who does. For example, many people…

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financial literacy

Financial literacy has always been a challenge. However, now that much of the burden of retirement income has shifted to employees instead of employers, it is all the more important that we begin teaching the principles of saving and investing to people as early as possible.1 In a recent survey, 44 percent of Americans said they would rather discuss death, religion or politics than talk about personal finance with a…

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retirement challenges

In 1985, only 10 percent of people aged 65 and older were either in the workforce or job hunting. Today, that share has doubled, for a couple of reasons. First, fewer 65-year-olds have enough money to retire. Second, the number of people in this demographic with a college degree has more than doubled (53 percent today vs. 25 percent in 1985).1 However, while college graduates are more likely to continue…

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Savings and Financial Health

As many baby boomers near retirement, some new facts are coming into focus. According to the latest Government Accountability Office (GAO) report on retirement security, 29 percent of households aged 55 and older have no savings set aside for retirement and no pension. If that doesn’t change, they’ll be relying solely on Social Security during retirement. In 2019, the average annual Social Security benefit is about $17,500 — not much…

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family financial conversations

One of the first discussions a young couple may have when starting a family is about affordability. How will they pay for child care? Will one spouse quit their job to stay home and raise the child? Here are a couple of interesting facts that may enter that equation:1 The average income for first-time mothers drops 30 percent and never catches back up. The income level for fathers increases by…

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