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7 Reasons Why You Need a Budget

Throughout the previous two tumultuous years, there have been ups and downs, and not just in the markets. Everyone has felt an impact of the pandemic whether physically, mentally, or financially. Though the impact was different for everyone, the reaction was the same. We all sought to gain control of our lives in the areas…

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When Do You Need a Financial Advisor?

This is a case of the “when” being the “why,” so let’s knock out two birds with one overachieving boulder. On a runway. When you’re ramping up for one of the biggest life changes—retirement—you’ll definitely benefit from having a financial advisor or suffer from the lack of one. Whereas you’ll retire once, we’ve helped more…

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Can your 401(k) affect your Social Security?

Here’s the truth about retirement planning; it used to be a whole lot easier. There used to be a lot less planning involved. Life generally looked like this: work for 40 years at the same job, hang it up at age 65 and spend the remainder of your days collecting from the combination of your…

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How to Talk to Your Parents About Estate Planning

It can seem weird when, as a child, you are advising your parents. However, as your parents age, they come to depend upon you more to help them with things such as shoveling the driveway, picking up their prescription medications, and more. One topic that you might have to broach with your parents is estate…

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How to Avoid the Credit Card Trap, Part 1

Credit cards have only been around for 100 years. They began innocently enough, with the goal of allowing you to pay for purchases at limited stores without having to have cash. Diners’ Club was the first universal credit card that made its appearance in 1950. It gave people the ability to dine at restaurants who…

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Steps to Roll Over a 401(k)

Most of us know that a 401(k) is a type of retirement savings account that is set up and managed by your employer or a firm hired by your employer. Since 401(k)s came into existence in 1978, they have become one of the most popular ways for many Americans to save for retirement. Many employers…

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5 Ways To Work Towards Financial Health

As much as we’d like to ignore finances, it’s an inevitable part of living. That’s because in order to have the things you want in this world: food, clothing, shelter, beach vacations, cats, dogs, and the like, you have to pay with them from the money you earn. Thus, managing your money so that you…

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First Things First: How To Build Your Emergency Savings

There are many aspects and components to financial planning, from savings and investments to long-term care and life insurance needs. All of these pieces together form a comprehensive financial plan that will help you meet your goals for the future. The wealth advisors at Anchor Wealth Management offer comprehensive financial planning services that ensure both…

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6 Things A Financial Advisor Can Do For You

Here at Anchor Wealth Management, we are proud to be the financial advisory team that you can count on. Some of our clients come to us knowing exactly what they want. Others, though, are unsure what type of financial services they need. We often get the question, “What can you do to help me?” The…

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Comparing Term and Whole Life Insurance

For something that’s so important, it’s hard to imagine why insurance can be so complicated, especially when it comes to life insurance. The general idea of insurance is to provide you with financial coverage when faced with an accident or unforeseen event. However, due to high premiums and difficulty understanding different policies, people often find…

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