They say that the only certainties in life are death and taxes. It is our hope that both will be rather uneventful, quick and painless. Considering we are not doctors, but financial planners, let’s keep our focus where our strength lies and delve into some tips to help you get through the tax season. Get […]
Getting Your Financial House in Order
‘Tis the season for making resolutions, and some of the most common New Year’s resolutions are getting organized, budgeting and saving more. Although most make these commitments with the best of intentions, the truth is fewer than 40% of resolutions will be kept for even the next six months. If you have resolved to improve […]
Roth IRA Conversion: What Is It and When Should I Consider It?
A Roth IRA conversion is essentially the transferring of money from a Traditional IRA to a Roth IRA. Since this blog topic is a bit more complicated than usual, we will start with some basics. A traditional IRA is what most of us think about when we put away money for our retirement. Like a […]
How Do I Supplement My Income in Retirement?
Retirement Q&A Topic: How Will I Supplement My Income in Retirement? I’m afraid I’ll never be able to retire. My expenses in retirement will be much higher than my Social Security benefit. How do I bridge the gap without working? This is a frequent worry for people as they prepare for retirement. It is, however, […]
Financial Planning vs Money Management
“Why do I need a financial planner rather than a financial advisor or wealth manager?” Imagine you decide to take an expensive European vacation and are confident you will have enough money to make your dream a reality if you save diligently for the next few years. You meet with a banking professional and find […]
How Can I Track My Expenses?
Tracking spending is extremely important for good financial planning and historically was one of the most difficult challenges we as planners faced, even as recently as only a few years ago. For those who didn’t want to keep receipts and add them into an Excel spreadsheet or put cash into various envelopes for monthly spending, […]
Tips for Enjoying Your Retirement to the Fullest
“You Rest, You Rust” Not long ago, retirement represented “the end;” the culmination of a long career that ended because one could no longer physically or mentally maintain the rigors of the job. It typically wasn’t far off from the average life expectancy either, so in many ways it felt like the end of life, […]
Do I Still Need a Will?
Generally speaking, the answer is yes. Rules vary from state to state and needs vary from person to person, but in most cases, executing a will is prudent. Designating beneficiaries on life insurance policies and qualified retirement accounts is certainly a step in the right direction to ensure that your assets flow to your intended […]
When There’s A Will There’s a Way
The world was rocked last week with news of the death of American music icon Aretha Franklin. Known as the Queen of Soul, Aretha leaves behind a strong legacy with songs that will go on forever. But what of the legacy that she left for her family? Aretha Franklin joins a long list of icons, […]
Portfolio Growth in Retirement
Question: Now that I’m retired, I am no longer contributing to my retirement accounts. In fact, I am now taking distributions. That being the case, how is it that my portfolio grows in retirement?
Answer: Over the course of your retirement (and life), the market will experience many fluctuations. In the short term, your investments will go up and down, but over the long-term, your portfolio should see steady growth. For that reason, when planning for your retirement, we base our the projections on an average rate of return and a steady distribution rate…continue reading
