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Tag: Susannah Snider

How Much Did 401(k)s Gain in 2023? | 401ks
18Dec By adminNo Comments
Money

How Much Did 401(k)s Gain in 2023? | 401ks

Heading into the last weeks of 2023, the S&P 500 appears poised for a gain, which should cheer workers saving for retirement in their employer-sponsored 401(k) plans.That said, most investors’ 401(k) accounts consist of more than the S&P 500, including varied asset classes such as bonds, international stocks and small-cap stocks.So how did those 401(k) accounts do this year? Here's what to know about 2023 retirement investment performance.401(k) Account Balances in 2023That average balance was up significantly from the year-earlier quarter, however, as the market rallied in the first seven months of 2023.Additionally, Fidelity, Vanguard and Bank of America reported that a growing number of retirement savers are taking hardship withdrawals. Account owners are eligible for those wit...
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What Is the Future of Big Law? | Explore Law Firms and Legal Advice
13Dec By adminNo Comments
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What Is the Future of Big Law? | Explore Law Firms and Legal Advice

For years, analysts have predicted the imminent death of “Big Law,” the powerhouse law firms staffed by hundreds of attorneys that sit atop the legal food chain. But Big Law has turned into Big Business, with record growth and record profits, and Big Law firms will likely continue to grow.While no one can know the future of Big Law, trendlines suggest what’s in store for the next five to 10 years and beyond. Here is how experts expect Big Law to change in the near future. Big Growth, Big Money and Big VolatilityWith Big Law’s skyrocketing revenue and record profits for partners, there’s never been a better time to be an equity partner in a Big Law firm, says Eli Wald, Charles W. Delaney Jr. professor of law at the University of Denver Sturm College of Law.Although the last two years have ...
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Volunteer Opportunities for Seniors | Retirement
7Dec By adminNo Comments
Money

Volunteer Opportunities for Seniors | Retirement

Volunteering in retirement allows you to give back, socialize and stay active without spending much money. You may also learn new skills and build friendships while you help organizations in your community.There are many ways to volunteer in retirement, and the level of commitment can range from a few hours or days each week to longer. Some organizations may provide a stipend to help cover expenses like traveling to and from the place you're volunteering. While it can be a great use of your time, you’ll want to make sure you have balance in your life so you don’t get burned out.If you’re thinking about volunteering during retirement, consider the following: Types of volunteer opportunities for seniors. How to find the right volunteer opportunity. Preparing to volunteer: What seniors ne...
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How to Turn $500K Into Passive Retirement Income | Retirement
7Dec By adminNo Comments
Money

How to Turn $500K Into Passive Retirement Income | Retirement

You’re likely familiar with the phrase "Let your money work for you." That’s the idea behind the concept of passive income, which means earning money with little or no effort.In retirement, it’s certainly possible to generate passive income with your investment portfolio. For example, if you want to invest $500,000 to create passive income, you can go about it in several ways, but give it some thought before jumping in."Investing $500,000 to generate passive retirement income requires careful planning and consideration of various factors, such as risk tolerance, desired income and investment timeline," said Walter Russell, president of Russell and Company in New Albany, Ohio, in an email.Passive or semi-passive income options include: Fixed-income securities. Dividend-paying stocks. Re...
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How to Keep Holiday Spending in Check During Retirement | Retirement
7Dec By adminNo Comments
Money

How to Keep Holiday Spending in Check During Retirement | Retirement

Retirees living on Social Security and other fixed income streams may need to adjust their holiday spending strategy this year amid the high cost of food, retail goods and other items. But with a careful eye and a commitment to budgeting, it's still possible to have a great holiday while keeping your spending in check.To manage costs during the season of gifts and gatherings, consider the following: Recognize the challenges of holiday spending. Develop a realistic holiday budget. Follow handy money-saving tips for retirees. Implement a solid savings plan. Keep track of your spending. Manage credit wisely. Balance fun and finances in retirement. Recognize the Challenges of Holiday SpendingIt can be easy to get caught up in the spirit of the season. You might have invitations to atte...
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What Millionaires Know About Retirement That You Don’t | Retirement
6Dec By adminNo Comments
Money

What Millionaires Know About Retirement That You Don’t | Retirement

Millionaires tend to have a different view of wealth and retirement savings than other Americans do. It may seem surprising, but most millionaires don’t consider themselves wealthy, according to an Ameriprise Financial survey. In fact, 60% consider themselves upper middle class, and 31% say they are part of the middle class.The survey, which included 580 Americans ages 27 to 77 with $1 million or more in investable assets, also found that millionaires’ financial priorities differ from less affluent investors' priorities. Millionaires' priorities were: Protecting accumulated wealth. Saving for retirement. Managing market volatility. Ameriprise also surveyed those with less than $1 million in assets. Their top financial priorities were: Saving for retirement. Managing day-to-day living...
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How Law Firms Can Create Positive Workplace Culture | Explore Law Firms and Legal Advice
6Dec By adminNo Comments
Money

How Law Firms Can Create Positive Workplace Culture | Explore Law Firms and Legal Advice

When law firm leaders make changes to create a more positive, productive culture, those upgrades can improve employee sentiment and the company's bottom line. Company culture is an issue every firm leader should be addressing as law firms are known to be unforgiving environments, and many attorneys buckle under the strain. The good news is that firms that have taken steps to improve the workplace culture have learned lessons that can benefit the larger legal community.The Catalysts for Cultural ChangeThere’s usually a reason why a law firm decides this is the time for change in workplace culture. That inflection point will guide the process in enacting change.For example, Clark Hill, one of the nation’s 200 largest firms, acquired several smaller firms around the country. Following that, ...
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This Is How Much You Should Budget to Live in a 55 and Older Community | Retirement
6Dec By adminNo Comments
Money

This Is How Much You Should Budget to Live in a 55 and Older Community | Retirement

Many people like the idea of living in a retirement community – particularly one aimed at adults 55 and older that offers amenities such as fitness centers, swimming pools and cooking classes. These communities often resemble country clubs more than senior living. Oftentimes, however, this lifestyle comes at a steep cost.“Most people way, way underestimate the costs of needs and long-term care during retirement,” says Thomas Mitchell, a certified financial planner and the senior vice president at OneAZ Wealth Management in Phoenix.So how much should you budget to live in a 55-and-older retirement community? Here’s a look at what these communities include and the costs to expect.What Is a Retirement Community?A retirement community is a neighborhood or housing complex designed for older ad...
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What Is the Outlook for Retirement in 2024? | Retirement
2Dec By adminNo Comments
Money

What Is the Outlook for Retirement in 2024? | Retirement

In 2024, factors such as inflation and two years of stagnation in the S&P 500 index, despite short-term rallies, have the potential to affect retirement."We are in a new world of higher interest rates that we haven’t seen for 10-plus years since the Great Financial Crisis," Jeff Rosengarten, a principal at Homrich Berg in Atlanta, said in an email.Rosengarten said in today’s market, a retiree can dial down portfolio risk while earning about 5% per year on assets such as Treasurys that will still deliver a reasonable return.Here's what to know about the retirement outlook for 2024.Factors Shaping the 2024 Retirement LandscapeThe need to plan for long and potentially expensive retirements continues to shape the retirement landscape for 2024. For example, a person who retires at age 62 w...
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How to Get a Divorce | Explore Law Firms and Legal Advice
1Dec By adminNo Comments
Money

How to Get a Divorce | Explore Law Firms and Legal Advice

While marriage is often considered a personal and romantic union, it is important to note that it is a legal institution. That means that the process of ending a marriage is not dissimilar to the dissolution of a business partnership.A divorce takes place when a court declares that a marriage no longer exists, according to the American Bar Association. The ABA recommends getting a lawyer as the first step in the process because divorce does require a court process, which a lawyer can guide you through. If an individual elects to represent himself or herself, it will require more time and attention, though some states offer self-help guides, such as this guide for divorces in Los Angeles County.Whether or not you hire an attorney, the next step is typically the same: make sure your decisio...
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