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What Are COLAs and How Do They Affect Retirement

What Are COLAs and How Do They Affect Retirement Bulman Wealth

If you are currently receiving Social Security or you are considering how Social Security might factor into your retirement plan, it’s important for you to understand what COLA stands for. You may have seen the acronym in various information about Social Security, and you may have wondered what it meant. Well, let’s answer your questions […]

Struggling to Save? You Might Not Be Alone

Struggling to Save? You Might Not Be Alone Bulman Wealth

The current rate of monthly savings across America is currently at 4.6%. This means that most Americans are saving about 4.6% of their monthly income. This number is unusual as the average amount is almost double that number at 8%. Also, in June, this number dipped to a 15-year low of 2.7%.[1] Economists are noting […]

Retirement Planning and Current Economic Conditions

Retirement Planning and Current Economic Conditions Bulman Wealth

The economic state we are in right now is intricate and, in some ways, has never been experienced before. The coronavirus has caused massive alterations in how the market functions, and we need to change our approach to retirement planning. Inflation Government payouts were a prominent feature of the pandemic. However, the danger is that […]

Ep 14: Understanding The Silicon Valley Bank Collapse and FDIC Insurance

Following the collapse of Silicon Valley bank, you have probably heard a lot of talk about America’s banking situation in the last few weeks. Today, we are here to unpack what happened with the Silicon Valley Bank collapse and whether we should be concerned about other banks as well. We will also take a deeper look at banking insurance and discuss what FDIC insurance covers and what it does not cover.

The Economy Threw a Curveball at Retirees in 2022

The Economy Threw a Curveball at Retirees in 2022 Bulman Wealth

The economy in 2022 posed difficulties for a lot of people, and retirees have had it even harder. The impact of the Russia-Ukraine conflict, the aftermath of the pandemic on the economy, as well as the increase in inflation and interest rates, have been felt globally. As we start off a new year, it is […]

How Rising Interest Rates Affect Your Retirement Plan

How Rising Interest Rates Affect Your Retirement Plan Bulman Wealth

The economy in 2022 has set multiple records, first with the highest inflation rate in 40 years, and now with the highest federal reserve interest rates since 2008.[1] The US Federal Reserve has raised interest rates six times in 2022, reaching a total of 3.75% in November to curb rampant inflation.[2] Higher interest rates should […]

Retiring as a “Millionaire Next Door” in a Changing Economy

Many of today’s retirees are the wealthiest retirees of all time. Before the recent inflation numbers and market correction, there was a prolonged period of rising home values, and strong market returns. You’re part of a generation of dedicated workers, meaning that there are more millionaires than ever. But, even if you have built a […]