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5 Retirement Tips for Couples

Finances can put enormous pressure on a marriage. Perhaps that’s the reason so many couples don’t find the time to discuss money. Many financial planners have shared stories with me about the issues that can result when couples don’t sit down regularly and discuss finances. Those issues can take an entirely new set of problems…

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Biggest Mistakes People Make Getting Ready for Retirement

It’s always good to learn from your mistakes. But, it might be even better to learn from other peoples’ mistakes. With that in mind, let’s talk about some of the big mistakes people make when it comes to preparing for retirement. (We’re going to skip over some of the more obvious ones, like not saving…

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Three Retirement Tips for the New Year

As we get further into the new year, our thoughts need to be on more than just last year’s taxes. We should also be thinking about what we need to do to make our retirement the best it can be – whether we’re already retired or getting ready for the big event. As I say…

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Rolling Over or Transferring Your 401(k) Assets: Key Advantages and Disadvantages

Inertia is a powerful force. Even if we are unhappy with the status quo, apprehensiveness about change or the unknown can prevent us from taking action, especially in matters of finance where the stakes are so high. We’ve seen that the decision to roll over a 401(k) into a self-directed IRA or annuity stirs doubts…

Social Security: Is it Working for Retirees but Risky for Young Workers?

The Social Security program was established in the 1930s to help retirees avoid the poverty associated with the Great Depression. One of the program’s key goals was to ensure at least one guaranteed source of income that retirees could rely upon for necessities like food and shelter. The program remains fully intact today, although concerns…

Sequence of Return Risk: How Can This Impact Your Retirement?

Have you ever considered the impact that the order of your investment returns, also known as sequence of return, can have on your retirement savings? Sequence of return risks are often overlooked during retirement income planning, but they can erode your assets if you aren’t careful. Below are some key sequence of return risk explanations and suggestions to keep…

Retirement Income

Concerned about your finances during retirement? You are not alone. According to a 2015 survey by TIAA-CREF, 46% of Americans are concerned about running short of money in retirement.1 When it comes to your financial future, running short of money is not an acceptable outcome. You should have the assurance that the money you’ve worked…

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…