Are you in Good Hands?
or
Call 866-501-4511
Are you in Good Hands?
or

Article

With the economy growing stronger, more adult children are able to leave home for good. That’s a big milestone, for both kids and parents. Now that the car keys are yours again, it’s time to start making major strides in saving for your financial future.

Stay or Move? Paying a tax premium to live in a great school district or simply have too much space? Downsizing can boost your finances on many fronts. It frees up cash to invest for retirement and may help you lower overall monthly expenses.

Did You Know?

55% of baby boomers plan to move when they become “empty nesters.”

Watch the Splurges After the kids leave, most empty nest households increase spending by 51% per person on things like dining out and vacations. There’s nothing wrong with living it up! But direct some of that freed-up cash toward retirement. Boost your contribution level to your retirement plan. Those 50 and older are allowed by law to contribute an added $5,500 of pre-tax income into their 401(k) accounts annually (on top of the standard maximum of $17,500).

Read more...▼

Take Down Debt Based on escalating tuition costs, many parents resort to personal loans or tapping home equity to see their children through college and beyond. If you’ve taken on debt, it’s time to develop a plan to pay it off. Consolidate loans and set up automated payments to bring discipline to the payback process.

Refresh Your Plan Take a deep breath. Now that you have a plan, look at your investment mix and savings goals. Make any necessary adjustments. An Allstate Personal Financial Representative and online resources, such as the Allstate retirement calculator, can help.