If you’re close to retirement and have a pension or 401(k), there’s one decision that matters more than almost any other — when and how you take your money . Here’s the part most people don’t realize until it’s too late: requesting your pension or 401(k) as a lump sum can be a mistake.  Once the money is released, taxes are triggered, deadlines begin, and your options can shrink fast. That’s why the most important step isn’t choosing a product. It’s talking to an expert befor

Selecting the right life insurance policy can feel overwhelming. With many options available, understanding what fits your needs and budget is essential. Life insurance provides financial security for your loved ones in case of unexpected events. This guide will help you navigate the choices and make an informed decision. Understanding Life Insurance Basics Life insurance is a contract between you and an insurance company. You pay premiums regularly, and in return, the compan

Retirement should be a time of relaxation and enjoyment, not financial stress. At Penny Lane Financial, we understand the importance of preserving your nest egg to ensure a comfortable and secure future. Here are eight strategies to help you avoid common financial pitfalls in retirement: 1. Develop a Sustainable Withdrawal Plan It's crucial to determine a withdrawal rate that balances your income needs with the longevity of your savings. Consider factors like life expectancy,