The Retirement Workshop Insights

The IRS updated the contribution limits for 401(k) plans in 2020, increasing the employee contribution from $19,000 to $19,500. In addition, the catch-up contribution rose to $6,500.

Should you consider taking Social Security early to cover financial hardships caused by COVID-19? Make these crucial considerations first.

16.1% of employers have cut matching 401(k) contributions in light of COVID-19. If this happened to you, or you're worried it could, here are the next steps you should be taking right away to still save for retirement.

Millions of Americans are jobless as a result of COVID-19. If you're considering using your unemployment benefits to fund a new business, get your questions answered here first.

Typically, a pension will offer several different pension payout options, and possibly a single lump-sum payout option or leveling options. This is as opposed to an annuity, or stream of cash in retirement.

If the Coronavirus has had a negative impact on your finances, we're discussing three steps to take right now.

The CARES Act has allowed retirees to forego taking their RMDs for the rest of 2020. Learn why this could be a money-saving move and what else you need to know with this quick guide.

You've heard of the SECURE Act - but do you know how it could be affecting your own retirement? We're discussing two big changes and what you need to know now.

For a limited time, Americans have the option to withdraw up to $100,000 from their 401(k) or IRA. Considering taking advantage of this change? We'll go over what you need to know before deciding.

Battling a global pandemic means confronting factors outside of our control — but there are still certain ways you can protect and manage your money during COVID-19.

In 2019, the average monthly social security benefit for retired workers was $1,471. However, your initial monthly benefit could be much greater or much less than that amount, depending on your age and income.

New SECURE Act legislation has passed. How could it could make a major impact on your retirement?

Need a Financial Advisor? Lansdowne Wealth Management is a fee-only, fiduciary financial planning firm based in Mystic, Connecticut that provides financial planning and investment management services, both on a fee-only basis.

Does your current Medicare plan cover what you need it to or are there more affordable plans available? Open Enrollment is the time to explore your options!

Check out some of the articles that Robert Henderson and Lansdowne Wealth Management have published or been quoted in over the years.

The Social Security Leveling Option is a pension plan payout option offered by pension plans to level out the income of someone who retires early. The leveling applies to the amount of pension payments and not to the amount of Social Security you will receive.

As you start reaching your career finish line, your employer’s offer of an early retirement package might seem too good to pass up. Before accepting, it’s important weigh the pros and cons that will impact your short- and long-term financial situation.

It might be difficult to think about what could happen to your financial assets after you pass away. However, it is essential to plan for even the unexpected by creating a will. This will help ensure that your beneficiaries are taken care of in accordance with your wishes.

Putting together a comprehensive estate plan is a complex task. There are many factors to think about, including your assets, liabilities, personal financial goals, and family structure. Take time to sort through each of these items with your financial advisor so that you maintain control of the plan.

Before you can begin to claim any Social Security benefits be sure you're checking these 6 things off your list to start your retirement off on the right foot.