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# Pennsylvania Wealth Management

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## Posts
- [<strong>Don’t Let Short Term Events Change Your Investment Goals </strong>](https://pawealthmanagement.com/dont-let-short-term-events-change-your-investment-goals-2/): With every change in the world, there always seems to be the temptation to make an impulsive financial decision, especially when it comes to investing. This year especially was difficult for investors who made such decisions when the coronavirus hit hard and upended the stock market bringing a lot of panic selling with it. Events like the coronavirus and this year's presidential election are always impactful when it comes to investor markets, but you need to be careful about investment decisions made solely on market movements. You can keep your long-term goals and continue building wealth if you follow certain tips.
- [Are You Planning to Retire by 50?](https://pawealthmanagement.com/are-you-planning-to-retire-by-50/): We all want an early retirement to travel, start a business, or spend more quality time with our families. If you're planning to retire at 50, which steps should you take?
- [One Basket, All Eggs. Risky!](https://pawealthmanagement.com/one-basket-all-eggs-risky/): Achieving a high income and net worth is half the battle in the quest for financial security. The other half is trying to keep and grow your assets once you have them. While this latter half is perhaps a nice problem to have, it has been the cause of many a headache.
- [Getting A Mortgage In Retirement](https://pawealthmanagement.com/getting-a-mortgage-in-retirement-2/): It’s not so uncommon when you hear someone who retired wanting to pack up their things and move. While it can be an exhilarating time, it can also be rather difficult, especially if their planning on buying a new house altogether. Lenders are barred from discriminating against older people who are trying to apply for a loan. Despite having the advantage of not having to worry about discrimination, retirees are still going to face some difficult challenges in obtaining a mortgage.
- [Will Power: Should You Update Your Will and Estate Plan?](https://pawealthmanagement.com/will-power-should-you-update-your-will-and-estate-plan-2/): Everyone should have a will; it ensures that your loved ones will receive the assets you wish them to have in the event of your death. To be clear, a will is a legal document that states how you want your property to be distributed and to care for any minor children. To ensure that your wishes are carried out as stated by you, a will must be written and signed by you and your witnesses.
- [Tax Saving Secrets](https://pawealthmanagement.com/tax-saving-secrets/): Honestly, most people don't like paying their taxes, with some going the extra mile to avoid paying. However, there are various ways you can save money even when filing your tax returns. This way, you don't have to break the law to hold extra cash. Keep in mind that different people face different tax obligations; hence, what works for one person may not work for another. However, here are a few tax-saving secrets that can be applied across the board. 
- [To know the road ahead, ask those coming back](https://pawealthmanagement.com/to-know-the-road-ahead-ask-those-coming-back-2/): Everyone has different ideas of what it is like to retire. However, their ideas may be based solely on what they assume or what they have heard. The only way to know for certain is to ask people who have gone through it. Here are several facts and myths that you should learn about the retirement planning experience.
- [Financial Goals for 2022](https://pawealthmanagement.com/financial-goals-for-2022/): The year 2021 was an up-and-down year for many Americans. No one knows what is on the horizon for 2022, but it doesn't hurt to set goals. Here are some financial goals that could help you get off to a great start in 2022.
- [Top 5 Things You Could Spend Less On In Retirement](https://pawealthmanagement.com/top-5-things-you-could-spend-less-on-in-retirement-2/): As you prepare or revise your retirement plan, one of the most important steps that you can take is to ensure that your projected future budget is accurate. Any oversights or poor estimations can, unfortunately, lead to a financial shortage in retirement. However, the flip side of this is that overestimating expenses may lead to unnecessary financial anxiety. It could cause you to scale back your lifestyle so dramatically now that you cannot maintain a comfortable lifestyle. In some cases, it could cause you to work for several additional years than you need to.
- [Retirement Planning Mistakes To Avoid](https://pawealthmanagement.com/retirement-planning-mistakes-to-avoid/): Retirement should be a time of rest, relaxation, and play. It should be about focusing on those pursuits that you wanted to do when you were younger, but you have yet to cross them off of your bucket list.
- [Retirement Planning & Holiday Spending](https://pawealthmanagement.com/retirement-planning-holiday-spending/): You've spent the better part of your working years planning for your comfortable retirement. As you celebrated your last official day of work, you already had a pretty good idea of the value of your financial investment portfolio and personal worth. And, you probably had a plan for how much money you would need every year to maintain the comforts of life that you were accustomed to. You either would have more than enough for a comfortable retirement or you would have to be careful with spending to maintain your lifestyle. Either way, a budget is always a good idea to make your money lasts as long as possible.
- [Charitable Giving & Your Retirement Plan](https://pawealthmanagement.com/charitable-giving-your-retirement-plan/): The average individual spends less during their retirement due to a budget. The exception is giving to charitable causes. A study by the WPI (Women's Philanthropy Institute) looked at how households in America spent money as they retired. The results revealed that both single women and married couples spent the same amount of donations on charities before and after they retired. The charitable giving of single men decreased once they retired. 
- [Avoid Tapping Retirement Savings This Holiday Season](https://pawealthmanagement.com/avoid-tapping-retirement-savings-this-holiday-season/): If you are like many people, you may easily spend hundreds of dollars or more on holiday gifts and related holiday purchases each year. Some sources (For example, Forbes)indicate that consumers may spend more money over the holiday season this year than they have in previous years. The cost of gifts is only one seasonable expense. For example, you may have plans to host a party, travel or decorate the house elaborately. When you are preparing to spend a large sum of money within a short period, financial planning is necessary. Some people may be thinking about taking money out of a retirement account to cover seasonal expenses, but this is not advisable for many reasons. 
- [Tax Time Guide. IRS has made some changes!](https://pawealthmanagement.com/tax-time-guide-irs-has-made-some-changes/): Internal Revenue Service has come with an initiative to assist elderly taxpayers. Tax Counseling for the Elderly (TCE) would feature individuals of 60 years and above only. There have been Cooperative agreements between IRS and relevant organizations that would work annually during the taxation period for the initiative's success. Some community partners taking part include non-profit agencies, faith-based organizations, community centers and large employers. This in-place training, which provides free tax help will be initiated for low-income individuals who need assistance filing their tax returns.
- [Are There Tax Breaks for Different Generations?](https://pawealthmanagement.com/are-there-tax-breaks-for-different-generations/): Getting older has its nuisances as your health starts to decline, eyesight and hearing can deteriorate, you start having aches and pains in unexpected body parts. However, it does have its perks. Some of those benefits are in the form of tax breaks that come as you get older.
- [Estate Plan. Do you have one?](https://pawealthmanagement.com/estate-plan-do-you-have-one/): After working hard and building a little wealth, it's incumbent on you to do what's necessary to protect that which you have accumulated. There are several ways you can protect your wealth, including making wise investments that will help your nest egg grow.
- [Budget For Retirement Travel](https://pawealthmanagement.com/budget-for-retirement-travel/): For many people, the dream of traveling in retirement is strong. You may want to plan trips to see your adult kids and grandkids a few times per year, and you likewise may have bucket list trips in mind. Because you do not have a job to rush back home to, retirement is an excellent time of life to travel more. However, many people do not wisely budget for their trips. This inevitably means that trips simply do not happen or that financial stress makes them less enjoyable. Learning how to budget properly for your trips is essential if you want to enjoy them fully.
- [Healthcare could be Your Biggest Expense in Retirement](https://pawealthmanagement.com/healthcare-could-be-your-biggest-expense-in-retirement/): No matter what your age is, it’s important to start preparing for the time when you eventually retire. One of the biggest financial issues you may encounter while you’re ready to stop working is how much money you will need for your health care. In general, this can be a sizable amount. On average, a person of 65 would need around $190,000 to pay for costs related to their health. This estimate doesn’t even take into account any preexisting chronic conditions or disabilities.
- [Why Fall Is A Good Time To Talk About Falling](https://pawealthmanagement.com/why-fall-is-a-good-time-to-talk-about-falling/): Falling is a threat millions of aging Americans face, especially those 65 and up. At least one in four elderly people will suffer a fall each year. The CDC analyzed data from a 2014 Behavioral Risk Factor Surveillance System (BRFSS) survey and found that suffering one fall doubles an elderly person's chance of having a repeat fall. The survey also showed that only half of the falls that occur each year are discussed with a health care provider. 
- [It’s Not Too Late For Retirement Resolutions](https://pawealthmanagement.com/its-not-too-late-for-retirement-resolutions/): At the beginning of each New Year, individuals commonly take stock of various aspects of their lives. One of the frequently reviewed primary areas is personal finance. If you are thinking about retiring within the next few years or longer, you may want to create a resolution or two so that you can better plan for your non-working years. However, some people believe that it is simply too late for any type of plan to be effective or beneficial. While it is better to start preparing for non-working years early in your adult years, starting now is better than not making any preparations. These are some of the areas that you can resolve to address shortly.
- [10 Reasons You’ll Love Being Retired](https://pawealthmanagement.com/10-reasons-youll-love-being-retired/): If you are like many people, you are probably looking forward to the time when you can retire. It marks the end of an era and serves as a reward for all the hard work you have done over the years. Retirement is a time you can truly enjoy yourself and reap the rewards of all those years of being in the workforce, no matter what your chosen profession.
- [Medical Debt and Your Retirement](https://pawealthmanagement.com/medical-debt-and-your-retirement/): How To Get Rid Of Your Accumulated Medical Debt In A Few Easy Steps
- [Scared About Retirement? Here is What You Need To Keep In Mind](https://pawealthmanagement.com/scared-about-retirement-here-is-what-you-need-to-keep-in-mind/): When a person thinks of retirement, they have a thousand things running through their mind. They are often met with a mix of emotions about the situation that they are going to be in. One one hand, retiring means that you get to sit back, relax, and enjoy the fruit of your labor. This is what you have been working all those years for; for the time you can live how you want to, and do the things that you have always loved doing. For most people, retiring is a beautiful thing, but that doesn't mean that sometimes, retiring can be scary. There are multiple fears that tend to cross their minds, making them wonder if retiring was a good idea after all.
- [What You Should Know If Retiring Soon](https://pawealthmanagement.com/what-you-should-know-if-retiring-soon/): Retiring is a special time for any individual. It's when you get to relax, be with family and friends, or pursue a hobby you were always interested in but just never had the time to. Of course, as you approach this last stretch of your career, this also indicates a lifestyle change. Identifying these financial and personal changes and preparing accordingly can give you more peace of mind. Here are four things you should know if you're retiring soon. 
- [Older Americans May Be in a Better Position to Pursue Their Dream Job](https://pawealthmanagement.com/older-americans-may-be-in-a-better-position-to-pursue-their-dream-job/): When you think of a dream job, you might envision a venture that individuals pursue when they are younger. For example, many college students are asked about their dream job. However, as an older adult, you have the opportunity to pursue your dream job at this time. Before you balk at the idea, consider the reasons why now is the perfect time. 
- [Working while receiving Social Security Benefits](https://pawealthmanagement.com/working-while-receiving-social-security-benefits/): Retirement is something most people look forward to in the United States. This is because it offers them the opportunity to travel, spend time with their families and essentially relax. All that is possible because most people are going to qualify for Social Security benefits. However, some individuals, especially those who used to run their own business, may find retirement to be a little too dull for their liking. As a result, many will often go looking for part-time work to either have something to do or supplement their monthly income. But how much does this affect your Social Security benefits? Read on to learn about this very important topic. 
- [3 Questions You Should Ask Yourself Before You Retire](https://pawealthmanagement.com/3-questions-you-should-ask-yourself-before-you-retire/): Retiring is the goal of every worker who dreams of leisurely breakfasts and time in the garden. However, getting to retirement takes some financial effort and strategic planning. The reality of having no job means that you're on your own when it comes to every facet of your financial life. Before you send in that letter of resignation, get familiar with the top questions that you need to ask yourself before retiring. You'll have less stress as a result of these well-answered questions.
- [What’s next for retirement plans in the U.S.?](https://pawealthmanagement.com/whats-next-for-retirement-plans-in-the-u-s/): In the United States, retirement is a crucial part of life. The most common form of retirement plan in the U.S. is employer-sponsored 401(k) plans, where employees make contributions into an account that earns interest and grows over time. This growth continues until they retire and withdraw funds from it to live off for many years after they stop working.
- [Are You Dreaming of Retirement on the Water?](https://pawealthmanagement.com/are-you-dreaming-of-retirement-on-the-water/): You have probably seen a lot of articles about the best places to retire in general. There are tons of options, including living in an RV or buying a small home in Australia. But what if you want to live on the water? What is one of the most affordable ways for someone looking to retire on the water? It turns out that there are many wonderful options!
- [What is the State of Retirement in America?](https://pawealthmanagement.com/what-is-the-state-of-retirement-in-america/): The coming retirement tidal wave of the Baby Boomer generation is a cause for concern. There are many folks who have long dreamed of a leisurely retirement, but have either struggled to save or not prepared fully to fund their life through the end of their days. 
- [Financial Myths to Stress-Free Retirement](https://pawealthmanagement.com/financial-myths-to-stress-free-retirement/): Many people often get misleading information about financial planning for their retirement. It is imperative to learn about effective financial planning to avoid making mistakes that can lead to financial instability in the future. 
- [How to Better Ensure Your Retirement Nest Egg Lasts](https://pawealthmanagement.com/how-to-better-ensure-your-retirement-nest-egg-lasts/): No matter how much you have saved, it's important to remember that your returns will always vary. Instead of planning on regular returns each year, consider planning for volatility by varying what you withdraw and when.
- [The Benefits of Having a Schedule in Retirement](https://pawealthmanagement.com/the-benefits-of-having-a-schedule-in-retirement/): In the retirement years of life, many people are often freed from the obligations that they had when they were working. This can be a highly valuable time in one's life, and yet it is often not treated as such.
- [Retirement Planning By the Numbers](https://pawealthmanagement.com/retirement-planning-by-the-numbers/): Building a strong financial foundation for your future has probably been on your radar for a while. However, for many workers, the end of organized or paid employment can be rather amorphous. If your last day in the office is close enough to have you worrying, now is your time to sit down and go over the numbers.
- [How to Know if Your Retirement Savings Are on Track](https://pawealthmanagement.com/how-to-know-if-your-retirement-savings-are-on-track/): The idea of running low on money in retirement is quite terrifying for many of us. Making sure that our funds will not only fulfill our needs but also make life a bit better for those we leave behind is worth the worry, as long as we use that energy for effective planning.
- [After One Year of Covid-19, America’s Retirement Crisis Is Little Changed](https://pawealthmanagement.com/after-one-year-of-covid-19-americas-retirement-crisis-is-little-changed/): While the Covid-19 pandemic ended millions of jobs, many Americans still saved toward retirement. Yet there's still a major retirement crisis in the United States today as half of Americans do not have enough savings to maintain their living standards once they retire. Here's a look at how Covid-19 has affected retirement plans.
- [Do you have enough planned if you live to 100?](https://pawealthmanagement.com/do-you-have-enough-planned-if-you-live-to-100/): We are living at a progressive and prosperous time in history. Significant economic, technological, and medical advancements have been made, and it's only getting better. So it goes without saying that living a long, robust, and healthy life is not a big issue anymore as is figuring out all the moving pieces.
- [Will Your Retirement Income Be Enough?](https://pawealthmanagement.com/will-your-retirement-income-be-enough/): If you are concerned about having sufficient financial resources after you retire, read on. We will discuss how to ensure a comfortable life during this phase of life. 
- [I Am Over 50, What Should I Do To Plan For Retirement?](https://pawealthmanagement.com/i-am-over-50-what-should-i-do-to-plan-for-retirement/): Your 50th birthday is a big milestone in your life, and once you’re past it, you need to ramp up your retirement planning. Hopefully, you’ve been doing at least some saving and building up a nest egg, even if you haven’t quite been hitting your goals every year. But no matter what your financial situation is like, you can make sure you’re on the right track with a few simple planning tips to use throughout your 50s.
- [What does retirement look like in 2021?](https://pawealthmanagement.com/what-does-retirement-look-like-in-2021/): Whether you planned to retire in 2021 or are heading into retirement due to other pressures, there are steps that you can take before you leave your full-time job. For example, you may need to decide what to do with your 401(k), how to access any pension available, and what your retirement budget will be.
- [Are You Ready For 7 Saturdays In Retirement? You Spend More In Retirement.](https://pawealthmanagement.com/are-you-ready-for-7-saturdays-in-retirement-you-spend-more-in-retirement/): One of the most significant problems with most people’s retirement plans is that they do not account for changes in spending levels over the years. Most people with an intelligent plan will take into account inflationary adjustments, but is it really reasonable to think that your inflation-adjusted costs for property taxes, healthcare, income taxes and more will all remain the same? If you have ever opened an old budget file on your computer that you created years ago, you may be well aware that budgets can change very dramatically from year to year. With this in mind, the best planning efforts for your later years in life will include increasing rather than decreasing levels of expenses. 
- [Are You Thinking of Upsizing Your Home in Retirement?](https://pawealthmanagement.com/are-you-thinking-of-upsizing-your-home-in-retirement/): The 2020 pandemic has taught many of us that being self-sufficient is the best way to stay healthy. This means that you need to be able to work, work out, eat well and be entertained all in one space. Upsizing your home is one way to make this happen.
- [How Do You Know You Are Ready To Retire?](https://pawealthmanagement.com/how-do-you-know-you-are-ready-to-retire/): It's impossible to know when you're ready to retire. Few individuals choose to retire at a certain age, such as 60 or 65, and others set a financial target, like $1 million in a pension plan. Some indicators and milestones may indicate that you are ready to retire, but they aren't solely based on your age and the amount of money you've saved.
- [Will You Have Multiple Sources of Income In Retirement?](https://pawealthmanagement.com/will-you-have-multiple-sources-of-income-in-retirement/): When it comes to planning for a more comfortable and secure retirement, a robust and well-balanced investment portfolio is not an asset that should be taken lightly. Relying solely on federal-assistance programs and pension plans in order to provide income after retiring from the workforce may prove to be nothing short of a disaster, especially for retirees who may require additional funds and financial resources in order to enjoy a more comfortable standard of living. Finding and selecting the right investments is something that should be done as early as possible in order to ensure that long-term financial plans are as effective and successful as possible. 
- [Retirement Should not Scare Women](https://pawealthmanagement.com/retirement-should-not-scare-women/): While it’s true that generalizations do not necessarily reflect the individual circumstances and therefore have limited value, there are fact-based reasons why the average woman faces greater hurdles than the average man does in securing her retirement. However, an awareness of the negatives and a proactive plan to take full advantage of some positives should demonstrate that retirement should not scare women.
- [Ladies, Should You Leave Financial Decisions To Your Spouse?](https://pawealthmanagement.com/ladies-should-you-leave-financial-decisions-to-your-spouse/): Are your finances currently controlled by one person? It is rare for both parties in a marriage to handle the finances together. In an overwhelming number of cases, the wife leaves the husband to handle all financial issues. This may be common but it is not exactly a sound approach to managing the money inside of the home.
- [What To Know Before Moving Homes In Retirement](https://pawealthmanagement.com/what-to-know-before-moving-homes-in-retirement/): In the past year, many have spent more time in their homes than ever before. This has gotten some thinking about moving or a second home. Building your dream home for retirement is not an uncommon goal many Americans have. However, just because it's a common dream doesn't mean it's an appropriate dream for a large portion of the population. Sure, you may have several hundred thousand or a couple million in your retirement accounts but you'll still want to think before you build your retirement dream home. 
- [Baby Boomers Bomb This Question](https://pawealthmanagement.com/baby-boomers-bomb-this-question/): With all of the day to day demands on your finances, sometimes it is difficult to have a strong grasp on what your overall financial picture really looks like. While many people may be very in tune with one segment of their financial life, you may be inadvertently neglecting other parts. One often overlooked financial aspect is retirement savings. In fact, you may be surprised to know that according to the Motley Fool, 42% of baby boomers cannot answer the question of "How much have you saved for retirement?" While this revelation may seem shocking, it is a reality that for many, immediate financial needs tend to take priority and retirement savings gets put on the back burner.
- [Avoid Getting Scammed This Tax Season](https://pawealthmanagement.com/avoid-getting-scammed-this-tax-season/): Tax season is once again in full swing. While many concerned taxpayers file tax returns to meet the required deadline, criminals work harder to cash in and take advantage of the hectic tax season. Tax fraud remains a growing concern nationally and counterfeit scams cost millions of dollars. Individuals who take a proactive approach can deter fraud and protect their identity, information and their finances. Here are a few recent scams catching the watchful eye of the IRS.
- [To Know About Retirement, Ask Those Already Retired](https://pawealthmanagement.com/to-know-about-retirement-ask-those-already-retired/): Everyone has different ideas of what it is like to retire. However, their ideas may be based solely on what they assume or what they have heard. The only way to know for certain is to ask people who have gone through it. Here are several facts and myths that you should learn more about regarding the retirement planning experience. 

## Pages
- [Tax Planning Strategies](https://pawealthmanagement.com/services/tax-planning-strategies/)
- [Landing Page – Replace My Paycheck](https://pawealthmanagement.com/replace-my-paycheck/)
- [Retirement Planning](https://pawealthmanagement.com/services/retirement-planning/)
- [Employee Benefits](https://pawealthmanagement.com/services/employee-benefits/)
- [Estate & Legacy Planning in Pennsylvania](https://pawealthmanagement.com/services/trust-estate-planning/)
- [Business Continuation](https://pawealthmanagement.com/services/business-continuation/)
- [Investment Services](https://pawealthmanagement.com/services/investment-services/)
- [Life Insurance](https://pawealthmanagement.com/services/life-insurance/)
- [Blog](https://pawealthmanagement.com/blog/)
- [WealthGuard™](https://pawealthmanagement.com/services/wealthguard/): We are a provider of WealthGuard™, an incredibly simple, yet powerful, early warning system that monitors all your investment accounts daily, so you can invest with the added confidence that there’s a plan in place to help protect your investments in all market conditions. Providing you with added peace of mind, WealthGuard™ securely tracks all your accounts in one place, including asset allocation and overall performance, and will alert client and advisor so that a specific plan of action can be initiated to help protect your accounts, while keeping you focused on your long-term investment goals.
- [Radio](https://pawealthmanagement.com/radio/): Blitz the market with Jason Bergey and “Retirement Redzone Radio.” Airing every Saturday and Sunday, “Retirement Redzone Radio” provides sound financial advice and helps you better understand current market trends. With Jason, you’ll discover what it takes to get to your financial end zone.
- [Client Login](https://pawealthmanagement.com/client-login/): Find your financial accounts:
- [Contact](https://pawealthmanagement.com/contact/): Whether you’re nearing retirement or have been retired for years and need a second opinion, Pennsylvania Wealth Management would love to help you pursue your financial goals and objectives.
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- [Services](https://pawealthmanagement.com/services/): Helping create a retirement plan for your future.
- [About](https://pawealthmanagement.com/about/): MISSION STATEMENT
- [Home](https://pawealthmanagement.com/): At Pennsylvania Wealth Management, our mission is to educate our clients on financial strategies for retirement, help protect their accumulated assets, generate the income, and implement strategies to help reduce or eliminate unnecessary taxes. Through our years of financial planning experience, we can help you discover the tools and strategies to help create a financial plan that meets your retirement goals and objectives.