The picture below can look pretty enticing when you are a burned-out parent. But what happens after days of sitting on the beach; then what? We can grind away in our careers, believing everything will be “okay” when we reach retirement. But what if we don’t have anything to retire to? Below is a story told by Tony Hixon, a … Read More
Top Solo 401k Plan Things to Know Now & Going Forward
401k plans are mainly for employees of private sector companies. A solo 401k is a 401k for business owners with self-employment income and no non-owner W-2 employees. Mark Nolan, founder of My Solo 401(k) Financial, wrote the following comprehensive post on what you need to know when it comes to a critical financial planning component for solo and family business … Read More
What We Do & How We Can Help
By Paul Fenner, CFP®, ChFC®, CRPS® It can be hard enough to manage your finances when your circumstances are relatively simple, let alone when you have essential responsibilities like raising multiple children and providing for your family. When you need help, how do you know who to turn to? Who can you rely on to understand your life and guide … Read More
How A Hybrid Retirement Plan Work For You
One of the most overlooked but critical aspects of savings or achieving any financial-related goal is determining why you want to save. That may sound simple, but let me give you an example. Client: I want to retire at 55. Me: Why? Client: I hate my job. Me: What will you do in retirement, especially one that could last a … Read More
Unlocking the Triple Tax Advantage
One of the best retirement savings vehicles that many people may not realize is a Healthcare Savings Account (HSA). An HSA is a tax-advantaged account created for individuals covered under high-deductible health plans (HDHPs) to save for medical expenses that HDHPs do not cover. Rather than using these accounts for current medical costs, you should consider utilizing the multiple tax … Read More
Three Factors That Affect Your Social Security Decision
I am often asked the critical question of should I take my social security benefits early or wait until full retirement age or beyond? Issuing a blanket response or answer to that question can lead people down the wrong path, especially on this subject. While many people would benefit the most by waiting until they reach their full retirement age … Read More
4 Retirement Account Options After a Job Change
According to The Balance Careers, today’s average person changes jobs ten to fifteen times (with an average of 12 job changes) during their career. While many factors go into changing jobs, one critical factor that people should decide on in conjunction with a job change is what to do with their employer-sponsored retirement plan or, in most cases, a 401(k) … Read More
4 Steps to Set Up the Retirement that You Envision
Can you envision what your retirement years may look like? Do you see yourself traveling the world, living in your ideal location, spending time with your loved ones, or setting out on a new second career? Before you can start a retirement plan, you need to know what you want your retirement to be. Developing Your Vision To gain a … Read More
Four Retirement Goals Everyone Should Consider
Recently I was doing some research on the retirement income challenge and while many of us diligently save each month in an employer-sponsored retirement plan such as a 401(k) or 403(b) or an IRA option such as a Traditional or Roth, do we really understand what we are saving for? While each individual will have their own unique answer to … Read More
8 Retirement Mistakes to Avoid
The web is likely cluttered with articles and posts about the critical retirement mistakes to avoid. But in working with people first hand I often come up with ideas that I believe are worth sharing no matter how often they may or may not be published. Anyone of the topics below only begins to scratch the surface upon another layer … Read More
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