BML Wealth Marketing, Author at BML Wealth Management

6 05, 2022

Will You Go Part-Time Before Fully Retiring?
Will You Go Part-Time Before Fully Retiring?

Will You Go Part-Time Before Fully Retiring?

BML Wealth Marketing2022-05-06T11:14:55-07:00May 6, 2022|Retirement Goals, Retirement Income, Retirement Planning|

While many look forward to retirement, it can be a difficult transition when it really comes down to it. Some people don’t know what to do with all of their free time and miss the personal connections that work used to provide. Perhaps that’s why more people are opting to go part-time before fully retiring. Here’s what to keep in mind if you’re considering this. Transitioning to part-time employment can give you some of the freedom of retirement while keeping familiar routines and relationships in place. It can also help you figure out a plan [...]

2 05, 2022

The Retirement Rules Could Change Soon – Have a Response
The Retirement Rules Could Change Soon – Have a Response

The Retirement Rules Could Change Soon – Have a Response

BML Wealth Marketing2022-05-02T09:02:27-07:00May 2, 2022|Financial Planning, Retirement Planning|

If you have a financial plan in place, you may think you’re set. However, the rules of retirement are always subject to change. We’ve seen new retirement legislation in the last few years and could see more soon. It’s important to understand how you could be affected and think about how you will respond. The End of the “Stretch IRA” The first SECURE Act, passed in 2019, changed the rules for inherited retirement accounts: Instead of allowing those who inherit 401(k)s or IRAs to “stretch” distributions over their lifetime, they now must empty the account [...]

29 04, 2022

What Is Ageism and How Can You Overcome It?
What Is Ageism and How Can You Overcome It?

What Is Ageism and How Can You Overcome It?

BML Wealth Marketing2022-04-29T00:30:44-07:00April 29, 2022|Psychology|

Ageism is discrimination against someone based on their age. It can happen in overt or subtle ways, in the workplace and in our daily lives. There are plenty of negative stereotypes about older people that can affect how you think about aging. It’s important to think about how to overcome ageism and negative thinking about aging. One area where ageism is apparent is in the workforce. According to the Department of Labor, older adults are less likely to be hired in an economic downturn. You may know of someone in their 50s or 60s who [...]

25 04, 2022

The History and the Future of Money
The History and the Future of Money

The History and the Future of Money

BML Wealth Marketing2022-04-25T08:36:02-07:00April 25, 2022|Financial Planning|

We’ve come a long way from trading pelts and seashells as currency, and there have been many changes to how we produce and use currency between then and now. The value of currency and inflation affect us all, as we’ve seen recently at the gas pump and the grocery store. Here’s what we can learn about our present from the history of money. Inflation Then and Now Inflation is nothing new. The ancient Romans caused inflation by mixing their silver coins with other metals so that they could mint more of them. The result was [...]

22 04, 2022

Are Your Retirement Savings Safe?
Are Your Retirement Savings Safe?

Are Your Retirement Savings Safe?

BML Wealth Marketing2022-04-22T10:56:56-07:00April 22, 2022|Cyber Security, Retirement Planning|

We know that it’s important to protect our retirement savings from market corrections and inflation, but what about cybercriminals? Retirement account fraud is becoming more and more common. It’s important to take steps to protect your information and accounts from cybersecurity threats. Here are three things you can do to help keep your retirement savings safe. Keep an Eye on Your 401(k) If there’s a fraudulent charge on your credit card, there is recourse – but what about your 401(k)? Cyber fraud is becoming more common, and plan sponsors don’t guarantee reimbursements. It’s becoming harder [...]

18 04, 2022

3 Major Retirement Expenses to Include in Your Budget
3 Major Retirement Expenses to Include in Your Budget

3 Major Retirement Expenses to Include in Your Budget

BML Wealth Marketing2022-04-18T06:24:23-07:00April 18, 2022|Financial Planning, Retirement Planning|

General retirement planning advice says that you’ll need about 80% of your pre-retirement income in retirement, but this may not be the case for everyone. Inflation, taxes, and long-term care costs are easily overlooked - but these expenses could be high. When creating your retirement budget, don’t forget to include these three expenses. Taxes: How Much Will You Pay in the Future? It’s easy to forget about taxes after you file, but it’s important to think long-term when it comes to your tax burden. Your tax situation can change significantly in retirement, but that doesn’t [...]

15 04, 2022

Is the Best Yet to Come?
Is the Best Yet to Come?

Is the Best Yet to Come?

BML Wealth Marketing2022-04-15T13:51:19-07:00April 15, 2022|Lifestyle|

Some of the most successful people are late bloomers – they did their most significant work later in life, sometimes after completing an entirely different career. There’s no telling what you might accomplish in your later years. Maybe the best is yet to come for you! Ina Garten Before Ina Garten became one of the best-known celebrity chefs in the world, she worked for the White House Office of Management and Budget. She worked under Presidents Ford and Carter and helped write the nuclear energy budget. She originally fell in love with cooking when she [...]

11 04, 2022

Rising Interest Rates and High Inflation – How Will You Respond?
Rising Interest Rates and High Inflation – How Will You Respond?

Rising Interest Rates and High Inflation – How Will You Respond?

BML Wealth Marketing2022-04-11T06:39:04-07:00April 11, 2022|Economy, Federal Reserve, Financial Planning|

The Federal Reserve voted to raise interest rates for the first time since 2018 and has several more rate hikes planned for this year.[1] Rising interest rates can have significant effects on the economy and your finances. Between a volatile market, high inflation, and rising interest rates, know how you’ll respond. The Federal Reserve Raising Interest Rates for the First Time Since 2018 The Federal Reserve recently voted to raise interest rates for the first time since 2018. They will raise the benchmark federal funds rate by a quarter percentage point to a range between [...]

8 04, 2022

How Do You Know When You’re Truly Ready to Retire?
How Do You Know When You’re Truly Ready to Retire?

How Do You Know When You’re Truly Ready to Retire?

BML Wealth Marketing2022-04-08T08:56:59-07:00April 8, 2022|Retirement, Retirement Planning|

You may have heard that Tom Brady retired from the NFL. You may have also heard that his retirement lasted about 40 days and that he will now be playing another year for the Tampa Bay Buccaneers. He’s not the only person to go back on their retirement. However, it can be harder for many people to return from work if they change their mind about retirement. It helps to be sure you want to retire – but how do you know when you’re truly ready? Your Feelings About Work Have Changed One sign that [...]

3 04, 2022

3 Important Tax Questions to Answer This Year
3 Important Tax Questions to Answer This Year

3 Important Tax Questions to Answer This Year

BML Wealth Marketing2022-04-06T09:15:09-07:00April 3, 2022|Tax Planning, Taxes|

As we approach Tax Day, you may be gathering your important documents and preparing to file or file for an extension. Once you have everything sorted out, it’s important to consider how your tax situation could change as you near and enter retirement. Here are three important tax questions to answer this year. Why May I Need to Adjust My Withholding? Marriage, divorce, and your children leaving the nest can mean that you need to adjust your withholding. You may need to do so once you can no longer claim the child tax credit. If [...]

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