Financial Planning

3 Things to Know About Covering Healthcare Costs In Retirement

Consider that the average 65-year-old couple retiring today will need an estimated $363,946 to cover their healthcare costs in retirement, and this does not include long-term care costs.[1] Many people assume that Medicare will cover all of their healthcare needs, but Medicare is neither free nor comprehensive healthcare coverage. There can potentially be many out-of-pocket [...]

2020-07-07T19:02:37+00:00July 6th, 2020|Financial Planning, Healthcare|

Are We Entering the Roaring 20’s Round 2?

While no one knows what this decade will bring, we might look to history for some insight. One hundred years ago, America was reeling from the Spanish Flu and uncertain economic prospects. At the time, many may have been pessimistic, but then we entered the Roaring 20’s. While there is much uncertainty now, we may [...]

2020-06-22T04:44:12+00:00June 22nd, 2020|Economy, Financial Planning|

3 Ways a Financial Advisor Can Help You With Tax Strategies

They say there’s no such thing as a free lunch, but what about a tax-deductible lunch? While many of your income sources can be taxed, there are strategies to minimize your overall tax burden before and in retirement. One of the advantages of going to one professional for all of your financial planning needs is [...]

2020-04-24T15:02:05+00:00March 27th, 2020|Financial Planning, Taxes|

New Year, New Law Pt. 4: 4 Ways the SECURE Act Could Affect Your 401(k)

Here’s proof that funding retirement has changed: In 1970, 45% of private sector employees were covered by a pension plan.[1] Now, 4% are covered.[2] Pensions have largely been replaced by 401(k), IRAs, and similar retirement plans, and retirees must find a way to make their savings last throughout retirement. The SECURE Act responds to this changing [...]

2020-04-24T15:39:41+00:00January 31st, 2020|Estate Planning, Financial Planning, Retirement Planning|

New Year, New Law: What’s in the Secure Act?

Donald Trump ended 2019 by signing a 2020 spending bill that includes the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It’s the biggest piece of retirement legislation to be passed in years and it will undoubtedly have a major effect on how many Americans approach retirement and estate planning. This month we’ll cover [...]

2020-04-24T15:49:15+00:00January 10th, 2020|Financial Planning, Retirement Planning|