Some retirees wish they could simplify money management. Estimating investment income, annual retirement plan distributions, and quarterly taxes can be a chore. This is why some retirees choose to make systematic withdrawals. Just as they contributed a set amount per month to their retirement accounts while working, they now withdraw a set amount from their… Read More
I imagine you read the title of this article and immediately thought, “Wait, what? That can’t be true.” Well… You’re right. You fell for the clickbait. In a perfect world, we’d decide to retire when we felt like it and if we couldn’t live the lifestyle we wanted, we’d go get this mythical retirement loan. … Read More
Raising the children and sending them on their way has been priority number one for some time. Now that you’re moving to the next stage in your family life, it’s imperative that your financial life follow suit. Your financial priorities now shift to preparing for retirement. It’s likely that you are at the peak of… Read More
One of the most common questions I receive as a Financial Planner is “when should I take social security?” . This question has many different answers for many different situations. However, one of the most important factors in the answer is knowing what and when is your full retirement age. Historically, the full retirement age,… Read More
The years are flying by and retirement is approaching faster than one can imagine. Many people start saving for retirement in their early 20’s, they even start financial plans for preparation. However, you are no longer in your twenties, you are 5-10 years away from retirement. Do you know what you should be doing? First,… Read More
Does your employer offer a retirement plan option? Do you contribute to it? Do you understand how it works? I have experienced much confusion about a 401(k) plan. If your employer provides one, or if you are an employer considering adding one, look over this quick guide for common areas of confusion. What is a… Read More
A common phrase heard in the financial industry that clients ask is “What rate is your IRA?” When we hear that, we know there is some explaining to be done. A Roth IRA isn’t an investment in itself. It is a tax advantaged account that can hold several different investments inside of it. The title… Read More
Many individuals invest vaguely for the future. They know they need to build up money for retirement, but when it comes to how much they will need or how they will do it, they are not certain. They will “wing it,” hope for the best. How do they recognize they are sufficiently adding to their… Read More
A major issue in estate planning is whom to name as beneficiaries on life insurance policies, pension plan accounts, IRAs, and annuities. This important decision often doesn’t consider the substantial estate and income tax consequences the beneficiary may incur. So, before you name a beneficiary, you may wish to gain a basic understanding of beneficiary… Read More
Growing up, I loved playing video games. One of my favorite games was the Galaga, developed and published by Namco. The game puts the player in control of a 2-dimensional spacecraft which is situated at the bottom of the screen fighting off the enemy aliens arriving in formation at the beginning of each level. Every… Read More