Everyone is different, so it stands to reason that everyone’s financial goals are different, too. But whether you want to retire early, pay for college for your children (or grandchildren), or buy a vacation home, you need a plan to get there. And while there’s no such thing as a one-size-fits-all financial plan, there are steps that everyone can take as they try to create a plan that’s suited to their individual needs.

Financial planning is all about living the life you want to live. A comfortable retirement might be your ultimate goal, but what does that look like for you? Beyond that, how do you expect to get there? You need a financial action plan, and no plan is complete without a starting point. After all, you can only plan to reach a destination if you know from where you're starting.

Everyone has their own unique retirement timeline, needs and strategies. But thanks to factors like Social Security, Medicare and IRS rules, just about everyone will face retirement planning milestones in approximately the same order and at the same stage in life. Here are the major milestones you’ll face in retirement and the ages at which you’ll face them.

Editor’s Note: This article was co-authored with Lindsey Weeks, Retirement Plan Service Manager

The year is winding down, and it will be the new year before we know it—and then tax season arrives. That is still a few months off, but good planning can be done well in advance of tax deadlines and the preparation stage.Reaching out to your tax advisor now, before year-end, allows time for you to address things so there are fewer surprises later (and possibly save some money in the process). Here are seven topics to bring up to your CPA or tax preparer.

Adding a Roth account to your retirement plan can be a great money-saving strategy. The benefits of setting up a Roth IRA are well documented, but did you know that there are Roth versions of employer-sponsored 401(k), 403(b), and 457 retirement plans?

For business owners looking to build the ideal retirement plan for your employees, there can be a lot to consider. But when it comes to retirement plans and investment lineup development, one thing that should be a no-brainer is including a target date series.

Investment offerings have continued to increase, in addition to changing landscapes with environment, social and corporate guidance (ESG) and Department of Labor (DOL) scrutiny. With these changes, there are some key considerations you should take as a business owner building an optimal investment lineup for your employees.

Editor’s Note: This article was co-authored with D.L. Thomas.No one thought 2020 would be like this: a global health crisis, an economic contraction and millions of Americans out of work. The rest of us, now bound to our homes, are unable to live our lives as we normally would, while essential workers are risking their lives to keep us all safe. Then, before we get to the light at the end of the tunnel, civil unrest swept across our nation.

With the economy in recession, we are sometimes asked whether it makes sense to take an early 401(k) withdrawal. The answer is “no.”Thank you for reading this week’s column.Okay, we’ll elaborate. When it comes to taking an early 401(k) withdrawal, meaning withdrawing funds before the age of 59 ½ and incurring a 10% penalty on top of applicable taxes, there are bad reasons to do it, and worse reasons.