Comprehensive Financial Planning

The early years in retirement are among the most important when it comes to how long the money in your retirement accounts will last. Make the most of your hard-earned savings with these top five money moves to make in retirement.  Keep the right risk-return balance in your investmentsGoing too conservative with your investments can be as hazardous as being overly aggressive. That’s because an asset allocation strategy that errs too much on the conservative side may expose you to the negative effects of inflation, erode your savings, and limit the potential that diversification can bring. Your retirement may last upwards of Read More

If you are earning in the hundreds of thousands of dollars per year, and you already have a 401(k), IRAs, and other retirement accounts, there’s one more way to boost your retirement coffers: It’s called a deferred compensation plan. Here’s how this works and why you should consider it. What is a deferred compensation plan? These plans are structured to hold a portion of an employee’s pay until later in life, often retirement. There are two types of plans: qualified deferred compensation plans, and non-qualified. Here are the fundamental differences between the two: For a deferred compensation plan to be Read More

Have you heard the term “shirtsleeves to shirtsleeves in three generations”? It refers to the trouble of building generational wealth: The first generation builds wealth, the second generation spends it, and the third generation gets nothing. If you’ve spent years saving and investing wisely to prepare not just for your retirement, but to build a legacy of wealth that you can share with your children and other descendants, then this is probably not what you have in mind. But statistics bear out the old saying. In fact, it’s reported that 70% of wealthy families lose their wealth by the Read More

Understanding Your Retirement Readiness Being ready for retirement is about so much more than hitting a certain retirement age. Here we look at three areas that you should consider when determining whether you’re in a position to retire. Approaching retirement comes with so many questions. Will you have enough money? Will you be able to accomplish what you’d like to do with the money you have? Will you be satisfied with retirement life? While it’s true that success in your retirement years is due in large part to finances, there are other factors to consider, as well. As you Read More

The end of the year isn’t the only time to tackle financial to-dos. The first of the year can be a great time to wrap up tasks you didn’t quite get to in Q4, or to set yourself up early for wealth planning success in the coming months. If you’re ready to start 2021 on solid financial footing, rather than putting things off until later on in the year, then check out our first-of-year wealth and financial planning checklist. #1 Review your 2020 finances and investments and make necessary adjustments. Take a look at your spending, savings for retirement, cash Read More

The perks of 401(k) plans are many: They offer tax-deferred savings, employer matches, and a consistent, reliable way to ramp up your retirement planning. But does that mean you should make the maximum contribution? With an employer-sponsored plan, your 401(k) contributions are deducted from your paycheck, pre-tax, which automates and accelerates your retirement savings — certainly a no-brainer. But what takes a little more brain work? Determining exactly how much is the right amount to contribute in a given year. Should you contribute the minimum (usually 3%) to get the employee matching contribution (also known as free money), or Read More

Whether you’re an individual strategically planning for a comfortable retirement, or you own a small business, some year-end planning is in order. Here’s your checklist of things to do before January 1. For many of us, 2021 can’t come fast enough. But if you want to set yourself or your business up for financial success next year, now is the time to do some important planning. Get a start with this list. Make sure you’re on track For individuals: Whether or not you’re working with a financial professional, this time of year is always prime time for a comprehensive Read More

Planning for retirement feels relatively straightforward in many ways: Save and invest to build wealth, and you’ll have the recipe for a comfortable, secure, and happy retirement. While that is true, there’s a bit more to it. Even though saving as much as you can and starting early is the go-to advice for preparing for retirement, it’s not quite as simple as that. There are quite a few nuances to the multistep process of retirement planning. Here’s a quick list of 20 things everyone should know as they get serious about setting retirement goals. Getting started with your retirement Read More

It’s that special time that always comes at the end of the year. We’re not talking about the holidays. We’re talking about open enrollment, those few weeks in November and December when you can make changes to your health insurance policy, enroll in your company benefits program, or ditch coverage. The benefits you opt in to (or out of) can have a significant financial impact — positive or negative — so it makes sense to review each option carefully. As a financially savvy individual — someone who has their personal finances in order and who’s on track toward accomplishing Read More