Shawn Plummer

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Even when the market ebbs and flows, you can keep your retirement investments stable with these proactive strategies. With unpredictable markets and economic uncertainty, it's important to take steps to safeguard your retirement savings. Market volatility can lead to significant losses if you’re not properly prepared, but there are many effective strategies for protecting your hard-earned nest egg. According to the financial professionals of Kiplinger Advisor Collective, you can help shield your retirement funds from the impact of market fluctuations with a few strategic moves. If you’re looking to secure your future, consider these expert-recommended tips for managing retirement savings during turbulent times.

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There’s no shame in asking for help, especially when it comes to your finances. Personal finance is often just that: personal. Not only is it meant to adapt to your own needs, goals and wants, but it also can often be done on your own, with no outside help needed to succeed. However, finance can sometimes get complicated, especially as you start exploring more in depth with topics like investing, planning for retirement and estate planning. While you may be tempted to take on these complex areas on your own, it can sometimes be wise to bring professional help on board. As financial experts themselves, the members of Kiplinger Advisor Collective have helped countless people navigate the complexities of the financial world. Here, they discuss 10 important instances when you may want to consult a professional and why doing so will save you a lot of hassle — and money — in the long run.

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Small mistakes can have a big impact over time. Opportunities abound when it comes to making money. But while there are numerous paths for building wealth, there are just as many paths for making a mistake. And not all mistakes are so obvious. If you’re making or saving more and more money year after year, you’re succeeding in building wealth—right? While this thinking is technically correct, you could be making the process more complicated than it needs to be or are missing out on vital opportunities to build wealth smarter and faster. Here, nine financial experts of Kiplinger Advisor Collective dive deeper on some of the most common wealth-building mistakes that people make and what they would advise people do differently to maximize their wealth-building potential.

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It's not too late to start working on these key business goals. Whether you’re new to business or a seasoned entrepreneur, setting goals for you and your business at the start of the year can give your team direction and a sense of purpose that they can use to motivate them throughout the year. Improving customer engagement, increasing sales or fine-tuning operational systems are all worthwhile goals to set, and will likely have a positive impact on your company; however, there are several other financially focused goals that could have a similar impact. According to the experts of Kiplinger Advisor Collective, implementing one or more of the following seven goals can help ensure your business is functioning at its best and ready for any hurdles it may face. No matter whether you set these goals at the start of the new year or a few months down the line, your business can benefit from better financial preparedness.

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Decisions regarding your long-term health should always be considered carefully. Navigating all of life’s curveballs can be one of the hardest parts of responsible life planning. No one can predict exactly what life will throw at them or where exactly they’ll be five, 10 or 20 years down the road. Thankfully, products like insurance can help cautious individuals plan for life ahead, giving them peace of mind even if the worst-case scenario never actually occurs.  One such insurance is long-term care insurance, which can help cover the costs of long-term care that may not be covered by your health insurance. Whether it’s due to aging or the result of a debilitating illness or disability, individuals who require regular care for the long term — or expect that they may in the future — may benefit from purchasing a long-term care insurance policy. However, not all policies are created equal, and careful consideration should be given to a number of factors before making a decision. To help, the financial leaders of Kiplinger Advisor Collective discuss those factors below, as well as how you can find the best policy for you and your needs.

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There’s more to this decision than simply when you want to retire. An important player in your overall retirement plan, Social Security can help fund your living expenses when you’re no longer able to work or are working reduced hours. However, as the payments you receive while drawing from Social Security only replace a partial percentage of the income you received while working, Social Security benefits should be considered supplemental rather than your only source of income. And while you can apply for your benefits at any time between the ages of 62 and 70, there may be reasons why you would want to delay receiving your benefits until a later date. So when should you plan to start collecting these benefits? While the answer can vary based on each individual person’s situation, the financial experts of Kiplinger Advisor Collective recommend considering these factors first before determining your goal age to begin collecting Social Security.