On December 29th, 2022, the Secure 2.0 Act was signed into law. The basis of this new law is to provide changes to the retirement system and hopefully strengthen many Americans’ financial readiness for retirement. Employees will find many opportunities and advantages with this new law in place. Some key takeaways from the Secure 2.0 Act include: The age to start taking RMDs (Required Minimum Distribution) increased to age 73 in 2023 and to 75...

In a few short years, it seems as though the banking industry has revolutionized. It is now easier (and more convenient than ever) to tend to your banking needs, all from the comforts of your pyjamas. Gone are the notions of banking hours, and the never ending lineups when you want to deposit your paycheck. However, if you’re anything like my parents, some of the newer online banking options seem a little too good to...

Until recently, many retirees have been able to rely upon the three-legged stool of retirement income sources: A defined benefit pension plan that guarantees a lifetime income, their own savings, and Social Security. Within the last couple of decades, the first leg of the stool has all but disappeared as many defined benefit plans have been replaced with defined contribution plans such as a 401(k) plan. This has shifted the responsibility for creating a retirement...