- Mercer Advisors

Why It’s Crucial to Boost Savings Before Retirement

For those nearing retirement, there’s one truth that becomes increasingly clear: the window to build wealth narrows with each passing year. While starting early is always ideal, it’s not too late for pre-retirees in their 50s or early 60s to make meaningful progress toward financial security. In fact, now is the time to double down on savings—and fortunately, there are tools designed to help. A recent report revealed that retirement savings balances have reached a new [...]

Rebecca Mack2025-07-02T02:36:36+00:00July 2, 2025|Financial Planning, Investing, Retirement Planning|

4 Key Birthday Milestones in Retirement—and What They Mean for Your Financial Strategy

Birthdays in retirement aren’t just a reason to celebrate—they’re also checkpoints that can unlock new financial opportunities (or trigger important deadlines). From Social Security eligibility to Required Minimum Distributions (RMDs), several key ages mark turning points in your retirement journey. Here are four birthday milestones every retiree should know—and what they mean for your financial strategy. Age 59½ – Penalty-Free Access to Retirement Accounts Reaching age 59½ marks the first major turning point in retirement account [...]

Rebecca Mack2025-06-24T22:29:32+00:00June 24, 2025|Financial Planning, Retirement Income, Retirement Planning|

Protecting Your Legacy: How to Navigate Wealth Transfer Taxes Amid Uncertainty

Careful planning is essential to help ensure your wealth passes efficiently to your loved ones. With significant changes potentially on the horizon, estate and tax planning remains crucial. The federal estate tax exemption stands at $13.99 million per individual and $27.98 million for married couples in 2025. However, there’s growing uncertainty about whether these historically high exemption levels will remain in place. If exemption levels change, it may impact estate planning strategies Fortunately, there are proactive [...]

Rebecca Mack2025-06-12T16:03:08+00:00June 12, 2025|Estate Planning, Financial Planning, Tax Planning|

Post-Tax Season Tips for Pre-Retirees

Tax season is behind us, but for pre-retirees—those within 10-15 years of retirement—this is the perfect time to reassess financial strategies. The decisions you make now can potentially impact your retirement lifestyle, taxes, and financial security. Here are five key post-tax season moves to keep you on track. Tax-Advantaged Retirement Contributions If you’re still working, post-tax season is a great time to adjust your retirement savings contributions based on any tax refund or unexpected expenses. In [...]

Rebecca Mack2025-05-21T16:23:18+00:00May 21, 2025|Financial Planning, Tax Planning, Taxes|

Is It Time to Refresh Your Annuity? Here’s Why You Might Consider It

Annuities have long been a cornerstone for those seeking a steady income stream in retirement. However, the financial landscape is ever-evolving, and what worked a few years ago might not be the best fit today. With rising interest rates, inflation concerns, and innovative annuity products entering the market, now might be a great time to reassess your annuity strategy. Capitalizing on Higher Interest Rates Since 2022, the Federal Reserve has steadily increased interest rates, only slowing [...]

Rebecca Mack2025-04-23T00:39:55+00:00April 23, 2025|Financial Planning, Investing, Retirement Planning|

6 Tips for Building a Retirement Budget

Building a retirement budget is critical to working toward an independent and relaxing life after leaving the workforce. Creating this budget can positively impact one's lifestyle, provide confidence and control over one's money, and safeguard against potential financial pitfalls. Here are the foundational steps to establishing a retirement budget. Step #1 Identify retirement income sources. These sources may include retirement savings, Social Security benefits, pensions, annuities, 401(k)s, IRAs, or other investments contributing to retirement income. Less [...]

Rebecca Mack2025-04-07T02:05:04+00:00April 7, 2025|Financial Planning, Retirement Planning|

Recent Tax Changes Boost 529 Plan Benefits

529 plans, the popular tax-advantaged savings accounts for education expenses, have become even more attractive in recent years thanks to a series of federal tax law changes. These modifications have expanded the versatility of 529 plans, making them a more powerful tool for families planning for educational expenses. What is the 529 Plan? A 529 plan is a tax-advantaged investment account designed to encourage saving for education expenses. Named after Section 529 of the Internal Revenue [...]

Rebecca Mack2024-12-11T18:54:27+00:00December 11, 2024|Financial Planning, Investing, Medicare, Social Security|

How Spending and Budgets in Retirement Can Change Over Time

Retirement is often viewed as a static phase of life, but the reality is far more dynamic. As retirees progress through their golden years, their spending habits and budgetary needs can evolve significantly. Understanding these changes is crucial for effective retirement planning and ensuring financial stability throughout this important life stage. The Early Years The initial years of retirement are often characterized by increased spending. Many retirees, newly freed from work commitments, indulge in activities they've [...]

Rebecca Mack2024-12-06T16:15:55+00:00December 6, 2024|Financial Planning, Retirement Income, Retirement Planning|

7 Ways to Celebrate Financial Planning Month

October is recognized as Financial Planning Month, an annual event dedicated to planning for an independent financial future. Whether you're a novice or knowledgeable in finance, assessing your finances and goals is always beneficial. This yearly event provides the perfect opportunity to reflect on spending habits, saving, investment strategies, and overall financial health. It allows us to rethink our financial steps and help make better monetary decisions. Here are some ways you can actively participate. Conduct [...]

Rebecca Mack2024-10-31T15:03:24+00:00October 31, 2024|Financial Planning|

10 Actions That Help You Pursue Financial Wellness

Establishing financial wellness is a personal, ever-changing state of being that enables one to exercise choice while feeling in control of finances. The individual determines financial wellness, which often includes working toward financial goals by completing specific actions. Some actions are time-sensitive, but others can occur anytime throughout the year. Here are ten actions that may help keep your finances on track as you pursue financial wellness: Reviewing your monthly budget- Reviewing all money in and [...]

Rebecca Mack2024-09-03T15:32:34+00:00September 3, 2024|Financial Planning|