Now we all know the reality, none of us are getting out of this alive. But despite people knowing that intuitively, there’s still a lot of procrastination around this type of planning. Depending on where you look, only 30 to 40% of people don’t have an estate plan in place. And while there are no statistics on this because it’d be impossible to determine, I can tell you from first hand experience as a financial advisor who talks to other…
Category: Retirement Planning
Beware of the Financial “Expert”
We all search for people to learn from that we hope to eventually know, like, and trust. Especially when it comes to the complex financial world we live in. Instead of trying to figure it all out ourselves, it makes all the sense in the world to seek out experts who can help us understand the financial world around us. As a result, many of us develop an affinity to these so called financial experts. They are people we’ll never…
15 Things I Wish Every Retiree Knew
As we all know, there is a lot of noise out there coming from TV, newspapers, friends and family members as to what we should do with our finances, and how we should plan for our retirement. A lot of it, frankly, isn’t such great advice. So I’ve been thinking: If I had the ability to speak to everyone close to or in retirement, what would I tell them? Well, this is what I would say. 15 Things I Wish…
Huge Tax Bills Caused By Poor Asset Location
Last week we talked about the Essentials of Asset Location; basically, what investments we should put in different account types. In today’s episode, we go through a real life example of how very poor asset location ended up costing investors thousands (and in one case hundreds of thousands) on their tax bill.
Tune in to learn from their mistake and not end up with a nasty tax surprise.
The Essentials of Asset Location
Benjamin Franklin was right on the money (pun intended) when he said the only guarantees in life are death and taxes. As frustrating as taxes are, especially after you retire, there is a way to make them lighter using asset location. If you don’t know much about asset location, it is probably because it is so esoteric many financial advisors don’t even bother with it. Instead, they focus on asset allocation. While that is important, a large part of your…
3 Reasons Why 2022 May Be A Bad Year To Retire
I recently came across an article from a personal finance site that I typically really like. However, this particular article didn’t make a lot of sense to me. In it, the author comes up with 3 reasons why you might NOT want to retire in 2022. I disagreed with every one of those points, and I don’t want you to fall for the same line of thinking as the author, hence this episode discussing the article and why I disagree…
The biggest threat to your retirement that you don’t know about
There’s no feeling like when you are close to retirement and you know you have a really huge, juicy nest egg waiting for you. But what if I told you there was one tiny thing you may have never heard about that can ruin it? I don’t mean ruin a small part of your retirement plan, but all of it! Before you get too scared, hold on a minute… The flip side is that this tiny thing could make you…
How To Retire: A Proven 10 Step Process
I remember speaking with a friend of mine, who was struggling to help his parents with all of their financial affairs. At his wit’s end, he asked me, “Where in the world do you go to figure out this stuff (retirement planning stuff)?” Yes, you can do some google searches, and maybe find a book or two on various topics. But what he was asking for was a step by step process of everything leading up to retirement. Where is…
An offer you can’t refuse
I want to tell you a little bit about a Godfather offer that you might be interested in. I’ve called it the Start My Retirement Process.
It is a simple 3 step process that will show you what you need to do to secure a comfortable retirement, without worry, stress, or paying too much in taxes.
Want a 1 Page Financial Plan?
I was at the gym today climbing some stairs (my favorite exercise) with 10 different TV channels (mostly news) all talking about the state of the world in the country. Depending on where you looked, you could get a completely different snapshot of the world, of what’s important and what’s not. The world we live in simply has a lot of noise, and it’s hard to know what to focus on and what to ignore. Sadly, it’s the same way…