Empowered Planning Blog

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Episode Summary:

Welcome back to another episode of The Empowered Planning Podcast! Even though we are still in February, we're tackling a question today that might not be about love, but it's definitely close to our hearts: what should you do with an old 401k? Whether you're deeply invested in plotting your financial future or just starting to ponder over your retirement savings, this episode is designed with you in mind. Navigating your options for an old 401k can feel like navigating a relationship: it's important, sometimes complicated, but ultimately rewarding. You may consider keeping it with your previous employer, moving it to your new job's plan, or rolling it into an individual retirement account. Each choice has its own set of advantages and disadvantages, and just like in any good partnership, it's all about finding the right balance that works for you. My goal for this episode is to equip you with the knowledge and...

Financial Wellness 2021: 3 Steps To Saving More This Year

Let’s face it. With technology connecting us to anyone anywhere at any time, it can be challenging to carve out time for ourselves. This behavior can heavily impact how we save for our future financial goals like retirement. Getting a head start on retirement savings in January will increase your financial confidence and you’ll get all the feels because you’re doing something meaningful for yourself! Check out these easy 3 steps to get going:

 Step 1: Review Your Lifestyle Guide aka Spending Plan

If you haven’t established a spending plan yet, check out my Lifestyle Guide. Having clarity on how much you’re spending and where you’re spending will open up your eyes and wallet. Determine how much you can set aside each month towards your retirement account. A golden rule is to save 15% of your pre-tax income towards retirement. Explore what you’re currently doing and make a note of...