Jim Sloan & Associates, LLC
Weekly Newsletter
3rd Party Articles
My Retirement Plan Is You
Americans without retirement savings are increasingly moving in with their millennial children. Sian-Pierre Regis, 35, is used to living with roommates. For the past 10 years, he has split the rent on his apartment in the Chelsea neighborhood of Manhattan with two (in...
Even retirees with resources find coronavirus is upending their financial plans
The economic gut punch of the COVID-19 pandemic is being felt by retirees. Even those who have savings and other resources now fear that the financial stability they had envisioned for their post-working years is gone. With the U.S. economy staring at a recession and...
5 easy ways to manage your money during COVID-19 pandemic
Right now, spending habits are changing, for better or worse. With unemployment at an all-time high and many people working from home, your budget could be totally different from usual. You may be tight on money or have a little extra cash in your pocket. Regardless...
Millions of baby boomers are getting caught in the country’s broken retirement system
The Washington Post spoke to six Americans who have come to the end of their work lives with no financial cushion, no nest egg. The coronavirus pandemic has scrambled many Americans’ financial futures, but some baby boomers have found surprising ways to cope with the...
How the coronavirus downturn may change your plans to retire at 65
KEY POINTS About half of Americans retired earlier than they expected, according to a recent survey. Less control over your retirement date could become more prevalent in a post-coronavirus economy. Based on your work prospects, you may retire either much earlier or...
5 Ways Fixed Index Annuities Are The “Swiss Army Knife” Of Retirement Planning
As a licensed fiduciary for over 15 years and spending most of that time with retirees, I’ve heard the same desires and concerns repeatedly: They want a retirement product that will offer them safety, income, and growth. My clients fear a repeat of 2000 or 2008, are...
A Devastating Jobs Report For Older Workers
“Jobs Friday” is usually a nerdy day for financial types and economists only. But everyone was watching the most recent jobs report. I had a big drink and told my family to remember May 8. For labor economists, it will be a day to remember. For the first time, even...
After 15 years of research, a psychologist says this ‘simple trick’ can help millennials retire faster
By the time most of us reach retirement age, we feel as if we don’t have enough money to live the life we envisioned. Our feelings aren’t wrong: a 2019 analysis from the Employee Benefit Research Institute found that over 40% of American households in which the...
Weekly Market Commentary
May 4th, 2020 Chadd Mason, CEO The Cabana Group Can April's Rally Continue, or is More Economic Disruption on the Horizon? Equity markets finished off April with the biggest monthly gain since 1974. The huge rally followed an even bigger decline in March. Face-ripping...
3 Ways COVID-19 May Hurt Your Retirement
Here's how the ongoing crisis could wreck your long-term plans -- and what you can do to prevent that from happening. COVID-19 has turned the U.S. economy on its head, battering the stock market and forcing millions of workers into unemployment. But while the crisis...
Concerned about market volatility? Here’s one way to protect your retirement savings.
Now that we’ve entered a bear market for the first time since 2009, many pre-retirees are likely asking questions about the impact on their retirement savings. Will the stock market sell-off wipe out years of growth in their 401(k)s? Are there any steps that can be...
Seven Ways the COVID-19 Pandemic Could Undermine Retirement Security
The COVID-19 pandemic could upend retirement planning, jeopardizing financial security for the next generation of retirees. Experience from the 2007–08 financial crisis and Great Recession that followed suggests the current crisis could wipe out existing retirement...
COVID-19 Stimulus Bill: 1 New Rule That Could Help Your Retirement Savings Last Longer
This lesser-known rule could potentially save you a bundle of cash. Millions of Americans have been directly affected by the coronavirus pandemic, from both a health and financial perspective. With thousands of businesses shuttering to slow the spread of the virus,...
Here’s Why COVID-19 Is Your Retirement Fire Drill
Dick has worked as a hospital administrator for 30-plus years. He was planning to retire in a few months. COVID-19 just delayed his plans for many months, or perhaps for years. Reflecting on what the market decline has done to his retirement savings, he conceals his...
Here’s Why COVID-19 Is Your Retirement Fire Drill
Dick has worked as a hospital administrator for 30-plus years. He was planning to retire in a few months. COVID-19 just delayed his plans for many months, or perhaps for years. Reflecting on what the market decline has done to his retirement savings, he conceals his...
How many more years do you need to live in order to wait it out?
With all that is going on in the market with the Coronavirus, we have received many requests to give our opinion on how long it will take for a retirement savings to get back to the level it was before the virus took its toll on the market. Understanding that no one...
Worried About Coronavirus? 5 Financial Moves for the Age of COVID-19
Everything these days seems to be about coronavirus, coronavirus, coronavirus. Especially when you have a family, these can be scary times. So, first and foremost: Chances are that you will be OK. The novel coronavirus seems to mostly spare young kids, and if you’re a...
Safety vs. Probability: Planning For Retirement
As we progress through life, we find there are certain things we can control and others we cannot. However, even with the things we can’t control, we can exercise good judgement based on facts, due diligence, historical patterns and a risk/reward calculation. These...
3 Things You Must Do Before You File For Social Security Benefits
Taking these steps before you begin claiming can ensure you're receiving as much money as possible. The majority of retirees will depend on their Social Security benefits for at least a significant portion of their income. In fact, half of married couples and nearly...
What Millennials, Gen X & Boomers Have In Common But Don’t Admit, Discuss, Nor Plan For
Going through her mail, Kendra slices open an envelope from her preferred airline. Inside she finds a hefty gray card with her name etched on it. The 36-year old reads the enclosed letter informing her of her “achievement.” She has reached Platinum status as a...
7 Smart Money Moves for 2020
New federal legislation made sweeping changes in retirement plans. Here's what you need to know. The new year has brought a number of changes in financial rules affecting consumers. Many of them are in new federal legislation called the Secure Act, which mostly...
Is retirement good for health or bad for it?
For many people, retirement is a key reward for decades of daily work—a time to relax, explore, and have fun unburdened by the daily grind. For others, though, retirement is a frustrating period marked by declining health and increasing limitations. For years,...
Fixed vs. Fixed Indexed Annuities: What’s the Difference?
Among the various kinds of annuities, which are contracts you sign with an insurance company to pay a premium for guaranteed income later, two of the most common are fixed and fixed indexed annuities. The former offers a fixed rate of return; the latter ties your rate...