Most people envision fantastic futures for themselves and their families. And whether you’re sending children to college, purchasing a new home, or starting a business, your income is the engine that turns your aspirations into reality. But what if you were to die? How would this affect your family’s plans? Life insurance has proven to…
Read MoreTopic: Retirement & financial planning
Financial Planning for Women Architects
All architects share the need for proper financial and retirement saving planning. For women architects, creating a sound financial and retirement plan is even more essential since issues like increased life expectancy, unforeseen changes in family structure, caring for aging parents, and the likelihood of outliving your spouse all present significant challenges for many female…
Read MoreHow Do You Plan to Retire?
As an architect, you know that starting with a comprehensive plan and building a good foundation is essential for success. You would never begin a project without a blueprint and process in place–but that’s exactly what many architects do when it comes to retirement planning. Many architects don’t know where to begin their retirement planning.…
Read MoreClosing the Gap
When you determine how much income you’ll need in retirement, you may base your projection on the lifestyle that you plan to have and when you want to retire. However, as you grow closer to retirement, you may discover that your retirement income won’t meet your needs. So what do you do then? If you…
Read MoreFive Financial Tips for Single Parents
There are few experiences in life that are as traumatic as losing a spouse. When life is upended through a divorce or the passing of your partner, it can be highly emotional—and it also presents serious financial challenges. Seeking financial help for single parents is a first step in this new phase of life. As…
Read MoreSaving for Retirement and College
You want to retire comfortably when the time comes. You also want to help your child go to college. How do you juggle the two? Saving for your retirement and your child’s education at the same time can be a challenge–but you may be able to reach both goals if you make some smart choices…
Read MoreArchitecture Firm Ownership Transitions
By Ed Hord, FAIA, 2014 Chair, AIA Trust & Ann Casso, Hon. AIA, Executive Director, AIA Trust The slowly improving economy has led to an increasing pace of mergers and acquisitions among architecture firms. In addition, ‘baby boomer’ firm owners now considering retirement also fuel various ownership transitions. Privately owned architecture firms in today’s consolidating,…
Read MoreChoosing Your Beneficiary
Setting up and participating in a retirement plan are important parts of an architect’s financial future. When you have a retirement plan, it is important to name a beneficiary. Understanding the options involved in setting a retirement plan beneficiary is an important part of your decision-making. Selecting beneficiaries for retirement benefits is different from choosing…
Read MoreWhat Can You Do About Your Cash Flow?
One major effect of the COVID-19 pandemic is its effect on the economy and the cash flow issues it is creating for small business owners of all types–including architectural firms. Should you consider borrowing from your 401(k) now? As an architect, if you have a 401(k) plan at work and need some cash, you might…
Read MoreNever Too Soon to Start
If you’re relatively new to practice, you may think that you can deal with retirement planning much later. But it takes years to accumulate the savings you’ll need for an ideal retirement. It’s well worth spending time now to strategize how you’ll get from here to there–even if retirement is many years in your future.…
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