Post-Retirement Planning Archives

Achieving Financial Independence, Post-Retirement Planning, Retirement

When Will You Be Able To Retire?

When will You have Enough Money To Retire? Brief History Lesson: The term “retirement” came to be recognized when the Social Security Act of 1935 allowed people to quit work and collect a tax funded paycheck when/if they reached the age…

Achieving Financial Independence, Economics, Post-Retirement Planning, Retirement, Tax Planning

How to Avoid Disastrous RMD Penalties

How to Avoid a HUGE Penalty from Missing the Required Minimum Distributions (RMD) from IRA. Failure to withdraw an RMD by the deadline results in one of the most onerous penalties in the tax code! 50%. That's right! If you were supposed to…

Investments, Post-Retirement Planning, Retirement

How to Use Life Insurance to Save You From Devastating Health Care Costs

New Use for Life Insurance Read this post carefully if you or your parent has assets they want to pass on to their kids. Most senior citizens consider buying long-term-care insurance because they know that the cost of significant care is exorbitant. …

Economics, Government & Politics, Policy and Your Money, Post-Retirement Planning

Trump Wins! My Economic View

It's November, 2016 and Donald Trump is our President-Elect and a tidal wave of fiscally conservative change may be in store for our country. A conservative (the less government intervention the better). I couldn't be more excited about the…

Achieving Financial Independence, Estate Planning, Insurance, Post-Retirement Planning

No Will Needed - Beneficiary Updates are Critical

Most of your assets will never pass on through your will (assuming you have one). IRA's, 401k's, life insurance and annuities all have direct beneficiaries that were recorded when you first signed up for them. For many of those assets, that…

Achieving Financial Independence, Balanced Living, Counting Your Pennies, Goals-Based Planning, Investments, Post-Retirement Planning

Paid Off Credit Cards Killing Financial Success?

Most of my clients tell me this isn’t true, because they pay their card balance off in full each month. I say, "That’s part of the problem!" We all have a propensity to spend up to what we know we can afford to pay off each…

Achieving Financial Independence, Counting Your Pennies, Goals-Based Planning, Investments, Policy and Your Money, Post-Retirement Planning

Fictitious Balance on Your 401k/IRA Account Statement

Your account balance carries a hidden surrender charge. Millions of working Americans contribute a percentage of their earnings to a 401k account while many also have IRA accounts, most of which were formerly 401k that were rolled over to…

Achieving Financial Independence, Balanced Living, Post-Retirement Planning

Does 4% Retirement Rule Make Sense For You Today?

The most important and anxious questions I answer for my clients are: "How much money will I have at retirement and will that be enough to live on? Of course, there are many variables in that calculation, one of the biggest is choosing…

Estate Planning, Post-Retirement Planning

Have You Had “The Talk”?

"The Talk" I’m not referring to “the talk” with your teenage children about sex, but rather the “parent and adult children talk” about the parent’s estate plan. Have you had this conversation? Most people have not. My sister Lori…