Three Ways to Help Build Financial Resilience Roller-coaster markets, global events, and unexpected life changes can catch you off guard. Little wonder that you might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle challenging times and hopefully emerge even stronger. Fortify your foundation Developing a new budget or reviewing an existing one may help reduce stress and feelings … [Read more...]
Boomer Homeownership and Retirement
With the youngest baby boomers turning 60 in 2024, a survey from mortgage agency Freddie Mac looked at the relationship of boomer homeownership to retirement and aging. Here are some of the findings. All percentages apply to baby boomers (born 1946 to 1964), who hold about half the nation's home equity, amounting to more than $17 trillion. This content has been reviewed by FINRA. Prepared by Broadridge Advisor Solutions. © 2025 Broadridge Financial Services, Inc. IMPORTANT … [Read more...]
How Has SECURE 2.0 Affected 401(k) Plans?
Since its inception in 1980, the 401(k) plan has become a key tool in helping Americans build wealth. In fact, the number of people who have become millionaires through their 401(k) plans reached 537,000 in 2024, a 27% increase from 2023.1 The SECURE 2.0 Act, passed in 2022, introduced new features designed to make 401(k)s even more appealing to workers. The following features are optional for employers, and while some have been adopted, others have yet to gain traction. Emergency … [Read more...]
Life Insurance Might Help During Turbulent Economic Times
During times of economic uncertainty and when the stock market is volatile, life insurance may be a useful tool to consider. Income protection Finances that were intended to provide support for you and your family could take a hit due to stock market volatility. In addition, rising costs of goods and services might eat into more of your income and savings. If you die, life insurance can be used to help replace some of the savings you may have lost during turbulent economic times. The … [Read more...]
Planning for a Pricey Pet
Pets can be great companions, so it's probably not surprising that 94 million U.S. households own at least one. But pets can also be expensive to care for, and costs are rising. According to one survey, average pet costs increased 9% for a dog and 11% for a cat in 2024 and are projected to rise even more — as much as 7% for a dog and 10% for a cat in 2025. Costs vary based on factors such size, breed, age, and health, but knowing how much you might spend to care for your pet can help you plan … [Read more...]
Unpacking the Real Limits on Unlimited PTO
About 7% of U.S. companies offered unlimited paid time off (PTO) as an employee benefit in 2024, up from just 1% in 2014.1 When companies adopt unlimited PTO policies, there is no specific cap on the number of paid vacation and/or sick days employees can take, although requests for time off are typically subject to a manager's approval. With traditional benefit programs, long-time employees accrue more paid vacation days than newer hires. On average, private-industry employees in the United … [Read more...]
Could Employee Ownership Be Part of Your Succession Plan?
An employee stock ownership plan (ESOP) is a type of qualified retirement plan that enables a business owner to gradually transfer ownership shares to employees. Moreover, establishing an ESOP sets up opportunities for the owner of a closely held business to cash out (in whole or in part) in the future, while keeping the company going for employees and the community. An ESOP may be a good option for small-business owners who don't plan to pass the reins to family members when they retire, but … [Read more...]
Three Ways to Help Build Financial Resilience
Roller-coaster markets, global events, and unexpected life changes can catch you off guard. Little wonder that you might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle challenging times and hopefully emerge even stronger. Fortify your foundation Developing a new budget or reviewing an existing one may help reduce stress and feelings of vulnerability by reminding you that you still have … [Read more...]
Erb Financial: August Newsletter 2025
Link to Printable PDF: 2025 08 August Newsletter Cost Is a Key Factor in College Selection With college tuition rising every year, it's not surprising that cost is one of the most important factors for families when choosing a college. Cost, location, financial aid package, and the availability of a specific academic program topped the list when families were asked why students chose the college they did for the 2023–2024 year. Still, 86% of families believe a college degree will create … [Read more...]
Staycations Are About More Than Saving Money
In March 2025, 61% of respondents to a travel-related survey expressed concern that a recession might impact their vacation plans. The same percentage were planning a staycation instead.1 Common during the pandemic when air travel and large crowds were not viable options, staycations involve spending your vacation at or near home. While they may be a great way to save money, staycations can also help you reduce stress, one of the primary reasons many people take time off. Address … [Read more...]
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