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Staying Active in Retirement

There are many mistakes you can make as you prepare to enter retirement. That’s one reason many people suggest you sit down with a professional before you retire. But one thing people often overlook when they leave their jobs is that they are walking away from their existing network of friends and colleagues without considering…

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Saving for your child’s tuition without sacrificing your retirement

We love our children. Most of us would do anything for them. That includes saving for or paying for their college tuition, even if it means sacrificing a retirement lifestyle we may want and deserve. There’s no doubt about it, college tuition is expensive. It’s so expensive these days that it’s not uncommon for young…

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Five Things That Can Wreck Your Retirement

It’s not uncommon these days for retirement to last as long (if not longer) than our working careers. That means it’s critically important to make the right decisions because a few mistakes or missteps could eat into our retirement savings. And that’s a problem since most of us haven’t saved enough to begin with. Nearly…

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Managing Risk

Retirement can be a risky proposition. So risky, in fact, that the American College of Financial Services identifies 18 different risks, some of which can be addressed with careful retirement income planning, to help avoid damage to a retirement nest egg.* From the risks of outliving your assets to investment, health and aging risks and…

Could Long-Term Care Insurance Help Protect Your Retirement Assets?

Long-term care (LTC) is one of the least pleasant aspects of retirement income planning. Whereas many people embrace the financial process of developing a retirement income strategy because it’s exciting to prepare for the next phase of life, long-term care requires thinking about a possible decline in health. This decline could lead to medical bills…

Retirement Income, 401(k) Withdrawals and the 4% Rule

You’ve done a great job stashing money in your 401(k) for the past 30 years. But now that retirement is approaching, you need to solidify a post-retirement income plan. Your small pension, if you have one, and social security payment won’t be enough on their own. Fortunately, that 401(k) can translate into a lot of…

Sep 3, 2015

Estate Equalization

I recently met with a long term client of mine, and both he and his wife are farmers/ranchers. Like most farmers the majority of their wealth was contained in the farm in the form of land, machinery, and livestock. They have three children: a son who has stayed on the farm and is taking over…

Sep 3, 2015

Beneficiary Update

I met John and Debbie Wolfe after they called into our radio show. They were in their 60s and had been married for over 25 years. They were using a family friend as a financial advisor but they also took advantage of my free second opinion offered on my radio show.  Our retirement review involves…

Sep 3, 2015

Reduced Risk and Increased Stability

I met the Wrights in November of 1998. If you think back to those times you’ll remember the markets were on a tear and that was reflected in the Wrights’ investments. Tom and Suzy were savers; they both worked for the same manufacturing company and had risen to management. They sacrificed while they were working…

Sep 3, 2015

Fee Analysis

Nathan and Jessica met me at one of our monthly workshops. They are in their early 70s and have been retired for several years now. Although they were happy with their retirement lifestyle; Nathan was skeptical about the amount of fees he was paying his broker. The market had been performing well and he didn’t feel…

Longevity Risk: The Financial Implications of a Long Life

Living longer is a good thing, right? Most people would probably agree with that. Living longer means more time to enjoy all the world has to offer and more time to spend with cherished family and friends. So what is longevity risk all about? The risk portion refers to the economic realities that may come…

Stock Market Risk: Too Much for Retirees to Handle?

I had lunch with my friend Peter recently. He and I are in different places financially and have very different experiences with stock market risk. I think part of that has to do with his corporate job and investing experience over the past four decades, which ultimately may help to ensure him a more financially…

Do Low Interest Rates Pose a Risk to Your Retirement?

Interest rates are at historically low levels. They have been that way for several years while the US Federal Reserve attempts to stimulate economic growth. Sounds ideal, right? Well, what’s good for some isn’t as good for others. Low rates may help a young family looking to buy their first home, but it may hurt…