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How an Advisor Can Elevate Your Financial Strategy
Engaging with a financial advisor comes with a higher price tag than simply doing it on your own, and depending on the costs it could be a significant decision. But unlike other professional services like law, medicine, or accounting, the core duties of a financial advisor aren’t as well known. Just as a good doctor is aware of your health [...]
The Four Phases of Your Retirement Journey
Retirement is a multi-stage process. The duration and the financial approach to each stage will vary for each individual, making it an intricate subject. However, dissecting it into separate stages can help you understand and execute a smart retirement strategy. In this piece, we will explore every stage of retirement and highlight significant financial events within each phase. Phase 1: [...]
3 Tax Strategies You’ll Want to Take Advantage of Before the Year Ends
We know that your retirement strategy may not be front and center in your mind as the holiday season approaches. But it’s actually a great time to button up your tax plan as the year draws to a close. Most people are calendar year taxpayers, meaning that the tax year closes on December 31st. With so few opportunities available following [...]
Wealth vs. Income: The Crucial Retirement Question
You may have built up a robust and healthy balance sheet as you approach retirement, but not all assets are the same when it comes to planning for retirement. For example, perhaps you’ve paid off your home. But your residence isn’t going to generate any income to help with the bills during your retirement. It’s what’s called an “unproductive asset”. [...]
Basic Retirement Planning Tips for Couples
Preparing for retirement brings many challenges and requires new ways of thinking. This is doubly true if you are married or partnered and heading into retirement together! You’ll have additional strategic challenges, greater opportunities, and a wider variety of potential solutions and tools than your single peers. So, what are some things that can help you prepare for retirement with [...]
The Importance of Estate Planning
It's not easy to think about what's next for all the assets and items that will outlive you. Perhaps you've been deferring the creation of a solid plan because the idea makes you uncomfortable. Or perhaps you don't think you have a lot of wealth and believe that an estate plan isn't required. You don't need to have a billion-dollar [...]
A Refresher on the SECURE Act 2.0 and a Recent Update to It
The SECURE Act 2.0 was a major change in legislation passed in 2022 that drastically affected many areas of retirement planning.[1] It changed rules for many aspects of financial planning concerning retirement, but some of the most important changes were that it: Pushed back the age of RMDs[1] Changed some rules for catch-up contributions[1] Changed some rules about access to [...]
Are You Prepared for Long-Term Care?
The possibility of needing long-term care is a major factor in your retirement. It's difficult to think about a time when you may need extra assistance with daily tasks, but it's common and can be very costly. Worse still, the costs associated with the first 100 days of a long-term care event are covered by Medicare! You may not have [...]
