Individual retirement accounts (IRAs) are tax-advantaged savings plans designed to assist people in funding their retirement. Created by an act of Congress in 1974, these accounts became significantly more popular following another government act in 1981 that allowed all working taxpayers to establish IRAs.

How It Happened: My Personal Parkinson’s Story as originally published in the Parkinson’s Journal 

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.

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.

Our feelings and finances are often intertwined. As advisors, when we meet with clients, most of the time we spend more time discussing the personal side of finance than the dollars and cents.

Here are our thoughts on a few factors that may impact your wealth. 

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. 

How to choose the best financial advisor for you

Looking for a female financial advisor? At Carnegie Investment Counsel, we asked three of our female financial advisors for tips about how to find the best investment advisor for you. They emphasized that team members at Carnegie, male or female, focus on providing a customized and hands-on approach to services from financial planning to portfolio management. The point is to assess any advisor for the best fit when choosing a long-term financial partner.

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.

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: