Retirement planning is the process of determining how much you will need to save and invest in order to have enough money to live on during retirement. It involves setting goals, analyzing your current financial situation, and making a plan to help you reach your retirement goals.
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The responsibilities of parenthood could force individuals to organize a financial plan and savings, yet many also struggle with high childcare costs
New guide addresses a CFP professional’s fiduciary obligations when providing financial advice on whether to roll over assets from an employer plan
New guide addresses a CFP professional’s fiduciary obligations when providing financial advice on whether to roll over assets from an employer plan
From outdated beneficiary designations to the false security of a set-it-and-forget-it plan, active engagement is the strongest defense against costly mistakes.
New guide addresses a CFP professional’s fiduciary obligations when providing financial advice on whether to roll over assets from an employer plan
Present value is the organizing principle of the Actuarial Approach recommended on this website. Retirement sustainability ultimately depends on a single question: Can the present value of your assets...
What issues will your family confront after your death, and how will it shape their opinion of your life? Discover the dire consequences of not setting up a proper estate plan so you can take the simp...
Why wait until December to review your financial plans? You'll have a clear enough picture of income, spending and investments to make meaningful decisions now.
Rather than claiming Social Security based on when you need the money, view your timing as a tax-planning tool that can help you lower your lifetime tax bill.
Medicare’s 2027 enrollment period brings major changes as Part D subsidies end and Advantage payments shift. Learn how premiums, coverage and costs may change.
Estate planning for children's accounts like 529 plans and UTMA accounts often overlooks naming a successor. Not naming a successor for these accounts can lead to delays.
Instead of saving home equity as a "last resort" in retirement planning, it makes sense to treat it as a strategic asset that's incorporated from the start.
The Internal Revenue Service and the Treasury Department offered guidance on rollovers between retirement plans and individual retirement accounts.
Recently, a bunch of WCIers got very interested in cash balance plans. Let's talk about them today, particularly the downsides of a CBP. The post Why You Might Not Want to Make Huge Cash Balance Plan ...
Could doing everything "right" with your retirement savings actually be limiting your financial freedom? As part of our "By the Numbers" series, in this episode, you'll learn: Why "max out your 401(k)...
Moving to Europe from the U.S. can get more complicated the wealthier you are. Find out what it really takes for a successful move — and how to plan for it.
The first time a physician shows us a locums paycheck, the reaction is almost always the same. No taxes were ... Read more
My O.H. left school at 16, has always worked since then and has progressed over the years to senior management position in an IT field. After Covid the whole company moved to hybrid contracts and rece...
From bulk goods to healthcare coverage, Costco plans its expansion into senior health plans pending government approval.
This Summer Replay revisits Roger’s 2018 conversation with Gretchen Rubin about the Four Tendencies and how understanding your personality can help you create a retirement plan and daily life that tru...
One of the most powerful tools in a physician’s financial plan—and life design—isn’t a fund, account, or asset class. It’s margin. The post Margin: The Most Underrated Tool in a Physician’s Financial ...
Out-of-state ER visit? Emergency in Europe? Find out what your Medicare plan actually covers before you take off.
How can married couples ensure non-taxable estates pass as intended and are protected from unwanted claims down the line? A QTIP trust can provide the answer.
Past 3 years into retirement, I plan and do some foreign trips. That included the U.S. --New Mexico, Chicago and northern Minnesota in fall. Also threw in 2 wk. trip in Italy last yr. This yr. my driv...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast number 595, Joe Anderson, CFP® and Big Al Clopine, CPA spitb...
Do retirees actually run out of money? After reading hundreds of real retirement stories from people who did, one pattern became clear: it usually wasn't poor investing that caused the problem. In thi...
For years, tax-optimizing investing strategies were confined to hedge funds and ultrawealthy families with access to specialized financial planning. Now, ... Read more
The IRS issued Notice 2026-49 on August 12, 2026, with 4 optional sample forms and a 5-step process to simplify direct rollovers between retirement plans and IRAs. The guidance does not change rollove...
This summer I toured a couple of 6,000 to 7,000 square foot mansion in the Kahala neighborhood of Honolulu, all in preparation for a potential move in two or three years. We plan to move back for eith...
While a solid financial plan tells you if you can afford to retire, a "second checklist" focused on purpose, relationships and well-being is also important.
Hitting your savings goal is worth celebrating, but you're not done with retirement planning. Next, ask yourself how you'll keep more of what you saved.
Laura Stover, RFC® is joined by guest co-host Darlene Tucker, CFP® today. This week's weekend brief comes from Forbes: "5 Predictions For An Economic 'Soft Landing' That Were Totally Wrong." With a lo...
Laura Stover, RFC® and Michael Wallin, CFP® discuss the Baby Boomer Dilemma documentary and its implications for pre-retirees and retirees. The film talks about many topics we routinely cover on the s...
Laura Stover, RFC® and Michael Wallin, CFP® discuss why 1966 was the worst year to retire and why it matters in 2023. They explore the market downturn in 1966 and its impact on retirees, as well as th...
Investors often underestimate the risk in their portfolio. Today, Laura Stover and Michael Wallin break down 5 common portfolio mistakes, as outlined by Christine Benz in Morningstar. They are portfol...
Retirement planning involves mitigating risk and understanding the various risks that retirees face. Laura Stover and Michael Wallin break down these risks today, including reduced earnings capacity, ...
In this episode, Laura Stover, RFC® and Michael Wallin, CFP®, discuss the concept of a cookie-cutter retirement portfolio and its implications for retirees. They start by addressing the recent news of...
Once you make the decision to take the next step toward ensuring a solid financial future, the next is who you should work with. There are all types of financial professionals that provide a variety o...
Big tech has seen strong gains in 2023 and has outpaced most other sectors. In doing so, the S&P 500 has also performed well, but when you take away a handful of tech companies like Apple, Microsoft, ...
Every investor, whether you do it yourself or have professional help, needs to understand the fees they are paying because this is one of the most important factors attributing to investment performan...
No one can predict the future of finance, so how do you make sure your portfolio is able to withstand the inevitable swings in the market? The answer is through stress testing, which has proven to be ...
We're more than halfway through 2023 and we've already seen the impact SECURE Act 2.0 has on retirement planning. These first six months have given the financial industry time to identify some of the ...
Diversification is a risk management strategy that mixes a wide variety of investments within a portfolio. We'd venture to guess that everyone who is listening to this podcast is very familiar with th...
We know there's always another market crash in the future, but should we be worried that it's happening soon? An economist named Henrik Zeberg thinks so. He expects a massive blow-off top for equities...
You'll never be able to predict the movement of the market but understanding the cycles will make you a better investor. The market goes through different phases and building out a purposeful portfoli...
Many times we find that retirees only look at that investment pillar with the traditional assets in mind. They focus only on investments and ignore critical areas that also need attention. In this epi...
We all have our own savings goals and dreams of retirement, but difficult markets and high inflation can be quite discouraging. Sometimes it feels like you'll never achieve what you've hoped for. So w...
Being flexible with spending absolutely matters in financial planning and it often gets overlooked when people step into retirement. Most people look at their budget and the assets that they've accumu...
We work with people that have investing questions all the time but there are two that investors often boil it down to. They want to know how long they need to be invested to be sure they don't lose mo...
The market has shown some signs that it might be turning around, but we've seen quite a bit of up-and-down over the past few years. These fluctuations have created some nice gains at times for investo...