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Debt Profile of Older Americans

The percentage of older Americans with debt is at its highest level in almost 30 years, and the amount and types of debt are on the rise.

In recent years, the increase has largely been driven by the 75-and-older age group – a somewhat surprising revelation.

From 2010 to 2019, the percentage of this group that carried debt rose from 38.5% to 51.4%, the highest level since 1992.

Federal Student Loan Interest Rates Set to Increase for 2021-2022

After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.(1) The interest rates on federal student loans are reset each year after the May auction of the 10-year Treasury note.

The rates apply to new federal student loans issued on or after July 1, 2021, through June 30, 2022. The interest rate is fixed for the life of the loan.

Market Commentary April 2021

In our commitment to provide ongoing communication and leadership, we are writing to you today to share the findings of our most recent economic committee meeting of the Freedom Capital Management Strategies®. The quarterly market review contains insights into the factors that added to a quarter that shows concrete progress in the global economic recovery. 

This report is available in both video and print formats.

 

IRA and Retirement Plan Limits for 2021

Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased.

IRA contribution limits 

The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2021 is $6,000 (or 100% of your earned income, if less), unchanged from 2020. The maximum catch-up contribution for those age 50 or older remains $1,000. You can contribute to both a traditional IRA and a Roth IRA in 2021, but your total contributions cannot exceed these annual limits.

Deciding When to Retire

Jordan Taylor, CFPFor most of our lives, retirement is a distant thought that seems years and years away. Then, as with all things time-related, we find this new phase of life to be just around the corner. But, how exactly do we know when to retire?

Deciding When to Retire: When Timing Becomes Critical

Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses, but also what sources of retirement income you'll have and how long you'll need your retirement savings to last. You'll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits, and when you'll start to tap your retirement savings.

Market Commentary 3Q 2020

In our commitment to provide ongoing communication and leadership, we are sharing with you the outcomes of our most recent economic committee meeting for the Freedom Capital Management Strategies®.  This quarterly update provides insight from our economic committee's findings on the macro-economic environment.

This report is available in both video and print formats.

 

A Closer Look At Retiree Confidence in 2020

Alec Knight, CFPAt any given point in time, retiree confidence is an important measurement. People want to know that they will have the funds they need to live comfortably when it comes time to retire and that their healthcare needs will be met. In light of the current pandemic and accompanying economic downturn, retiree confidence has shifted.

Retiree Confidence Drops in 2020, As Some Workers Worry

The Retirement Confidence Survey conducted each year by the Employee Benefit Research Institute (EBRI) took a slightly different tack in 2020.

How Do Elections Impact Financial Markets?

Do elections impact markets? What are the implications for investors? These questions and more are addressed in this special report rom Freedom Capital Management Strategies®. 

Download and read The Elections and Market Report