At Apprise Wealth Management, we want to help people make better decisions about money. We also read constantly and like sharing some of our favorite commentaries each week.
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Here are this week’s articles as well as a brief description of each:
1. Time Claims to Maximize Social Security Benefits. For many retirees, Social Security payments are one of the most meaningful assets they have. Their importance has increased as the number of company pension plans has fallen, and life spans have lengthened. As a result, how you manage this important income stream has grown in importance. Some key elements to keep in mind:
· Know your full retirement age
· Coordinate the timing of benefit claims with your spouse
· Understand the benefits (and possible disadvantages)of delaying your benefits
2. 5 Cheap(ish) Things to Beef up Your Digital Security. Whether we like it or not, when we go online, we are being watched. Some of this activity is relatively benign. It can also be malicious. This article shares five things you can do to help keep your internet presence a little more private. For example, if you use a password manager, you will only have to remember the password for your password manager. The password manager can generate and store the rest of your passwords. Two-factor authentication is another must.
3. How to Recover From a Pre-Retirement Financial Crisis. The closer you are to retirement, the more stressful a personal financial setback can be. The issues you encounter can include job loss, an expensive illness, a realization you simply haven’t saved enough, or that you hold too much debt. This article suggests some steps to start improving your situation along with ways to potentially bring in more cash. If you’re not sure where you stand, putting together a financial plan can also help.
4. We've Reached Peak Wellness. Most of It Is Nonsense. At times, it seems we are all looking for a cure for what ails us. This has helped create a billion-dollar industry. Taking care of yourself is clearly important. One problem. There is little evidence products sold in the name of modern-day wellness work. The author’s take on the best approach: commit to basic practices, every day, as individuals and communities. For example, instead of herculean exercise routines, consider doing anything that makes your breathing labored for a sustained period – say 30 minutes a day. Another idea: rather than trying the latest fad diet, eliminate processed and fried foods from your diet instead.
5. The Great Fee War of the 2010s. Did you know that starting this week, many investors will no longer have to pay trading commissions when they buy or sell stocks or Exchanged Traded Funds(ETFs)? Interactive Brokers, Charles Schwab, E*Trade, and TD Ameritrade all now offer free stock trades on their trading platform. While brokerage firms will find other ways to make money, investors can benefit. They will find it much easier to add money to accounts on a regular basis. This can be particularly valuable in accounts where you can make regular deposits.
We hope you find the above posts valuable. If you would like to talk to us about financial topics including your investments, creating a financial plan, saving for college, or saving for your retirement, please complete our contact form, and we will be in touch. We can schedule a call, a virtual meeting via Zoom, or a meeting at Apprise Wealth Management's office in Northern Baltimore County.
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