Jim Sloan & Associates, LLC
Weekly Newsletter
3rd Party Articles
3 Changes Are Coming to 401(k) Plans in 2025
Three significant 401(k) plan changes coming in 2025 are worth paying attention to, regardless of when you plan to retire, whether you work full-time or part-time, or whether you even have a 401(k) yet. In late 2022, Congress passed a law to help savers build their...
6 Retirement Savings Changes To Expect in 2025
Big changes are coming to retirement savings in 2025. The shifts in retirement planning come after Congress passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) in 2019 and its 2022 follow-up, the SECURE 2.0, which further expanded and...
7 Things to Know About Working While Getting Social Security
If you claim benefits early, income from work can reduce your monthly payments “Retirement” used to be synonymous with “not working.” Not anymore. More than a quarter of U.S. adults ages 65 to 74 are still in the workforce, according to the federal Bureau of Labor...
How Will the 2024 Election Impact Your Retirement?
Investors should expect volatility but also try not to overreact to news. To prepare, focus now on tax minimization, protecting your portfolio and more. In times of great change, it is only natural for people to wonder and worry. Without perspective, it morphs into...
‘What Does Retirement Even Look Like?’
For older parents of adult children with disabilities, focus stays on caring for kids Jeanne Piorkowski looks forward to having more time in retirement to navigate the dense bureaucracy of forms, benefits and programs she can already rattle off like an expert. But she...
Rethinking Your “Bucket List” In Retirement
As folks approach retirement, they often start mentioning their “bucket list” more frequently. The bucket list is generally an itemized agenda of experiences or achievements that a person hopes to accomplish during their lifetime before they “kick the bucket” or die....
6 Steps to Tune Up Your Retirement Finances
Navigating retirement can be overwhelming given uncertainties like market volatility, inflation, life expectancy and the state of Social Security. Like having a mechanic give your car a periodic once-over, regularly reviewing your spending and saving can help keep...
As Social Security’s funds face insolvency, experts say these are key factors to watch
KEY POINTS An improving economy has helped modestly improve the outlook for Social Security’s funds. But experts say the outlook for the program still points to the need for imminent reform. A new Social Security trustees report released Monday provides a modest...
7 Key Factors That Could Affect How Long You’re Retired
Planning for retirement is hard for many reasons, including the challenge of answering one key question: Just how long will I be retired? Knowing how much time you’ll have to enjoy your golden years is paramount to budgeting; after all, you can’t determine how much...
Why millennials’ retirement outlook may be worse than those of older generations
KEY POINTS By some measures, millennials lag on retirement preparedness and net worth relative to older generations such as Gen X and baby boomers. There are many reasons for this, such as a shift away from pensions toward 401(k) plans and high student debt burdens....
‘What Does Retirement Even Look Like?’
For older parents of adult children with disabilities, focus stays on caring for kids Jeanne Piorkowski looks forward to having more time in retirement to navigate the dense bureaucracy of forms, benefits and programs she can already rattle off like an expert. But she...
2024’s Big Savings and Retirement Rule Changes
At the end of 2022, the SECURE Act 2.0, short for Setting Every Community Up for Retirement Enhancement, became law. It expands earlier legislation, changing many aspects of the savings and retirement landscape for Americans. The rule changes make various accounts...
6 Things I Wish Someone Had Told Me Before I Retired
A recent retiree shares lessons learned late about saving money and spending time Everyone nearing retirement has a vision of what their road will be like once they clock out of the 9-to-5. Maybe that prophecy includes regular travel, longer trips to see the...
5 Things You Need to Know Before Retiring at 62
A new study shows more Americans mulling early exit from workforce. Here’s what to look at before you leap The COVID-19 pandemic brought about a surge in early retirements that came to be called the Great Resignation. New research from the Federal Reserve Bank of New...
7 Spring Cleaning Moves for Your Finances
Here’s how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put...
Why Americans worry changes to the U.S. retirement system could upend their plans
KEY POINTS As wage growth outpaces inflation, Americans have reason to be more optimistic about long-term goals like retirement. But many still fear that uncertainties like a higher cost of living or U.S. government changes to the retirement system may throw them off...
7 Spring Cleaning Moves for Your Finances
Here's how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put...
What’s Changing for Retirement in 2024?
Inflation adjustments and the phase-in of Secure 2.0 provisions have implications for retirement savers and retirees alike. The dawning of 2024 will usher in more changes than usual on the retirement-planning front. As is typical with the turn of the calendar page,...
How to Deal With a Big Tax Bill
Don’t panic — but do pay the tax tab Bills are a fact of life, though some require more urgent attention than others. Ignore your brother-in-law because you still owe him $50 from last year’s poker game, and you’ll get the cold shoulder. Ignore your debt to Uncle Sam,...
7 Ways Retirement Will Be Different in 2024
How changes in Social Security, Medicare, taxes and more will affect your finances For most people, retirement finance is a delicate balance between income that’s likely less than what you made while working and expenses that may be lower in some areas (no more...
As baby boomers hit ‘peak 65’ this year, what the retirement age should be is up for debate
KEY POINTS More Americans are expected to turn 65 through 2027 than in any time in history. Despite the ‘silver tsunami,’ the correct age to retire is still in question. A fight is brewing in Washington over whether the mandatory retirement age for airline pilots...