The Advisor’s Corner is a resource for the community that offers insightful information into personal financial considerations and business financial issues.

The articles cover a broad range of topics, and we hope that you will find them useful in helping you to think about getting your fiscal house in order. Economic Empowerment starts at home.

Why Women Need Social Security

Did you know that the first person ever to receive ongoing Social Security benefits was a woman?

Ever since Ida May Fuller received the first retirement benefit check in 1940, women have been counting on Social Security to provide much-needed retirement income. Social Security provides other important benefits too, including disability and survivor’s benefits, that can help women of all ages and their family members.

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New 401(k) Plan Disclosure Rules

You may have heard about new disclosure rules that will soon apply to 401(k) plans. Before describing what’s ahead, however, a look back may be helpful. (While we’ll refer to 401(k) plans in this article, the new rules also apply to other employer-sponsored plans that allow participants to direct their own investments, commonly referred to as “self-directed plans.”)

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Four Retirement Savings Myths

No matter how many years you are from retirement, it’s essential to have some kind of game plan in place for financing it. With today’s longer life expectancies, retirement can last 25 years or more, and counting on Social Security or a company pension to cover all your retirement income needs isn’t a strategy you really want to rely on. As you put a plan together, watch out for these common myths.

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Buckets of Money: A Retirement Income Strategy

When you were saving for retirement, you may have pursued an asset allocation strategy that balanced your needs for growth, income, and safety. You can take a similar multi-pronged approach to turning your nest egg into ongoing income. One way to do this is sometimes called the “bucket” strategy. This involves creating multiple pools of money; each pool, or “bucket,” is invested depending on when you’ll need the money, and may have its own asset allocation.

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Business Owners: Don’t Neglect Your Own Retirement Plan

If you’re like many small business owners, you pour your heart, soul, and nearly all your money into your business. When it comes to retirement planning, your strategy might be crossing your fingers and hoping your business will provide the nest egg you’ll need to live comfortably. But relying on a business to fund retirement can be a very risky proposition. What if you become ill and have to sell it early? Or what if your business experiences setbacks just before your planned retirement date?

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