Carnegie Investment Counsel Blog

 

Gary Wagner

Recent Posts

Optimizing the Timing of Your Retirement for Social Security Benefits

Posted by Gary Wagner on Jun 23, 2020 1:30:00 PM

In the 85 years since the Social Security Act established a new means for Americans to prepare for life after their working days, the retirement landscape has changed significantly. There has been a dramatic reduction in defined-benefit pension plans and a migration toward defined-contribution plans like the 401(k). Life expectancies are longer and the full retirement age has crept higher.

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Topics: Financial Planning

How the CARES Act May Impact Your Family Finances and Tax Planning Right Now

Posted by Gary Wagner on Jun 9, 2020 10:30:00 AM

The $2.2 trillion coronavirus relief bill or CARES Act was passed by Congress on a bi-partisan vote and signed into law in late March by President Trump. According to the U.S. Treasury Department, the CARES Act “provides fast and direct economic assistance for American workers, families, and small businesses, and preserves jobs for our American industries.”    

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Topics: Financial Planning

How Do Wealth Management Firms Work?

Posted by Gary Wagner on May 12, 2020 2:30:00 PM

What services are offered by wealth management companies, and how can they help you reach your financial goals? How do these firms address current and future needs for you and your family?

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Topics: Financial Planning

7 Ways to Simplify Finances Before Retirement

Posted by Gary Wagner on Apr 14, 2020 11:29:00 AM

As you approach retirement, organizing your finances will be one of the most critical steps you take when beginning your transition out of the workplace. There are plenty of retirement planning tips and philosophies out there, but many people in their 50s with $500k or more saved don’t yet know how to simplify their finances before retirement.

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Topics: Financial Planning

Tax Season Senior Scams Alert - 8 New (and Age-Old) Financial Scams to Watch For

Posted by Gary Wagner on Apr 7, 2020 12:05:07 PM

Sadly, tax season is a prime time for scammers to target senior citizens. Here are eight common scams making the rounds this year. Please share them with older relatives, friends and everyone else: Awareness is a primary component of stopping these threats.

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Topics: Financial Planning

5 Savvy Moves During a Bear Market

Posted by Gary Wagner on Mar 30, 2020 3:30:00 PM



What should we do in a bear market? That’s the question we’ve been hearing a lot these last few days. Here are five ideas for things you can do right now to set yourself up for success in the days ahead.

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Topics: Financial Planning

New FICO Credit Scoring and How It May Impact You

Posted by Gary Wagner on Feb 25, 2020 11:45:00 AM

Changes in how your credit score is calculated are coming this summer, and they may impact your access to different types of loans and the interest rate on those loans. Fair Isaac Corporation (FICO) will introduce its FICO Score 10 Suite in the coming months for use by the three primary credit bureaus, Equifax, Experian and TransUnion.

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Topics: Financial Planning

How Much Should I Have Saved for My Retirement at Age 30, 40 and beyond?

Posted by Gary Wagner on Feb 19, 2020 2:15:00 PM

So many people ask, “how much should I have saved for retirement?” Well, there are many retirement savings “rules of thumb” out there. In this article, we will share some of the common recommendations and even debunk a few.

NOTE: Be sure to read to the end where we share our real answer for the question of how much retirement savings you should have at age 30, 40, 50 and beyond. 

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Topics: Financial Planning

6 Sandwich Generation Financial Planning Tips

Posted by Gary Wagner on Jan 16, 2020 11:15:00 AM

 

How to care for others by caring for yourself first financially


Ongoing changes to the structure of the typical American family unit have created a new designation known as the “sandwich generation.”

The sandwich generation is defined as those Americans who are simultaneously responsible for their own children and their aging parents. Across the country, these middle-aged adults are finding themselves increasingly compelled to manage a multi-generational extended family, effectively “sandwiched” between their children and elderly parents.

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Topics: Financial Planning

Financial Literacy Tips for Young Adults: How to Prepare the Next Generation for Financial Wellness

Posted by Gary Wagner on Dec 19, 2019 11:00:00 AM

The upcoming holidays are a great time to share financial wellness tips with the young adults, grandchildren and young relatives in your life. As families gather, it is important to pass on stories and traditions. So why not the traditions of financial literacy as well? With accelerating college debt, the young people in your life may be most in need of guidance.

Here are some healthy financial practices to share this season:

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Topics: Financial Planning

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