One of the beginning steps in every retirement plan is to value your assets and project their values into the future. Valuing assets like stocks and bonds is easy (though making accurate projections becomes more difficult.) Complexity increases even more when you consider illiquid assets like real estate and business ventures. Continue reading
Over the years in my practice as a Certified Financial Planner™ Professional, I had clients in their 30s when it made sense to hire me. I’ve had others in their 50s where I told them to come back in a few years or when a specific event occurred. Alas, mom was correct. We are special, unique snowflakes.
Nevertheless, these principles apply… Continue reading
In the last episode, Kevin answered a listener question on inflation. He explained why retiree spending patterns in part combat inflationary risk retirees face.
Now hear Kevin delve deeper into retiree spending patterns. Traditional retirement advice of having a steadily increasing income for life is wrong for most. If you don’t want to work longer than you have to or want to spend more in retirement, this is an episode you’ll want to listen to. Continue reading
When you get serious about crafting a solid retirement plan, you need to understand how to read your Social Security statement. If you have yet to claim your retirement benefit, get your most recent statement online at www.ssa.gov/myaccount and continue reading. Continue reading
Many baby-boomers have earned pensions over their working careers and are confronted with the complex decision of how best to optimize it. Some plans offer the choice of a lump sum that can be rolled over pre-tax to an IRA instead of a lifetime monthly payment. Next year, 2021, will likely be an optimal year to elect the lump sum for many. Continue reading