Eric Scott Blog Posts

Last week, regulators seized Silicon Valley Bank (NASDAQ: SIVB), the nation's 16th-largest bank. The bank was declared insolvent after it couldn't satisfy withdrawals by depositors last Thursday and Friday. How did a recently thriving financial institution get to this...

Do you know how much money you have in your IRA or 401(k)? Most people do, but what about how much you'll owe in deferred taxes when you withdraw it? This is the most important number because it determines how much money you'll have to spend throughout your retirement...

As the long-term care crisis worsens, here’s what you need to know to make sure you’re not caught off guard when it comes to your retirement. As the long-term care crisis worsens, here's what you need to know to make sure you're not caught off guard when it comes to...

Are you looking for a way to save for your retirement that offers tax advantages and flexibility? If so, a Roth IRA (Individual Retirement Arrangement) may be the perfect solution for you. In this blog post, we will discuss the benefits of Roth IRA contributions and...

Whether your retirement has already kicked off or is still in its pregame phase, you should know the score when it comes to an exciting — and increasingly relevant — vehicle for income and capital preservation: U.S. Treasuries. What are U.S. Treasuries?U.S. Treasuries...

On Wednesday, Jerome Powell spoke again on behalf of the federal reserve. As many expected, the FED has decided to raise rates another 25 basis points to 4.5 - 4.75%. Although this is the second meeting in which the size increase has gone down it still puts rates at...

There are many strategies for saving for retirement, and the best one for you will depend on your individual circumstances. Here are a few general strategies that may be useful to consider with Eric Scott Financial. Do you know how much your retirement will cost? Have...

You might remember a time when markets kept increasing and your retirement portfolio was “smooth sailing.” But that was before the recent inflation numbers and market correction. You may have built a substantial nest egg, but you may be concerned about how you will...

First of all, Happy Half-Birthday! As we get older and enter new chapters in our life, it comes with wisdom. However, once you reach age 59 1/2, it also starts to present new and important financial decisions that can affect your retirement lifestyle. If you're...

Those receiving Social Security benefits this month will be pleased to find they're getting the biggest benefit increase since 1981 - an 8.7% cost-of-living adjustment, or COLA. Unfortunately, about 40% of retirees have used up much of their emergency savings, trying...

The start of a new year always brings changes to tax laws, impacting how much you can save for retirement and deduct from your tax returns. Inflation played a big role in tax law changes for 2023, with some adjustments being made in larger-than-usual percentages....

The 2022 economy has broken multiple records, first, with the highest inflation rate in 40 years, and now, the highest federal reserve interest rates since 2008.1 In efforts to curb raging inflation, the US Federal Reserve has raised interest rates six times in...