All architects share the need for proper financial and retirement saving planning. For women architects, creating a sound financial and retirement plan is even more essential since issues like increased life expectancy, unforeseen changes in family structure, caring for aging parents, and the likelihood of outliving your spouse all present significant challenges for many female […]
When you determine how much income you’ll need in retirement, you may base your projection on the lifestyle that you plan to have and when you want to retire. However, as you grow closer to retirement, you may discover that your retirement income won’t meet your needs. So what do you do then?
You want to retire comfortably when the time comes. You also want to help your child go to college. How do you juggle the two? Saving for your retirement and your child’s education at the same time can be a challenge–but you may be able to reach both goals if you make some smart choices […]
Setting up and participating in a retirement plan are important parts of an architect’s financial future. When you have a retirement plan, it is important to name a beneficiary. Understanding the options involved in setting a retirement plan beneficiary is an important part of your decision-making.
One major effect of the COVID-19 pandemic is its effect on the economy and the cash flow issues it is creating for small business owners of all types – including architectural firms. Should you consider borrowing from your 401(k) now? As an architect, if you have a 401(k) plan at work and need some cash, […]
If you’re relatively new to practice, you may think that you can deal with retirement planning much later. But it takes years to accumulate the savings you’ll need for an ideal retirement. It’s well worth spending time now to strategize how you’ll get from here to there – even if retirement is many years in […]
If you’re an architect who is self-employed or receives 1099 income as an independent contractor, you know that it’s up to you to establish a retirement plan. But do you understand the various approaches available to you, such as an individual 401(k) plan, and which may best suit you and your situation?
As an architect, you know that starting with a comprehensive plan and building a good foundation is essential for success. You would never begin a project without a blueprint and process in place – but that’s exactly what many architects do when it comes to retirement planning.
As an architect saving towards retirement, you know that employer-sponsored plans, such as 401(k)s and IRAs, are the best ways to invest for retirement. While both are good options, if you’ve already maxed out your contributions to those accounts and want to save more, an annuity may be a good investment to investigate.
Assuring quality long term care for a loved one is far more complex than simply arranging for care and figuring out how to fund it. There are many legal and financial issues and obstacles that arise. While insurance is a key component to funding long term care, assuring quality care and dealing with the legal […]