Your Portfolio in Three Buckets
I previously had a client who worked at a Fortune 100 company for 30 years and he eventually decided to step back, but he was still too young to hang it up forever. He wasn’t quite ready for retirement but didn’t want the day-to-day stress of the current position. This put him into what I …
Opinion: Looking to move? 5 things retirees should consider during peak buying season
Everyone has that dream for retirement. Moving to that perfect place where you can spend your carefree days. Maybe it’s lounging at the beach all day or hitting the slopes. No matter how you want to spend your retirement, if you’re moving out of state there are several factors to consider b …
A CFP shares how his millionaire clients spend, save and invest their money
When it comes to managing your money, it’s natural to have a lot of questions: Are there expenses you shouldn’t put on a credit card? How much cash should you keep in your savings and checking accounts? When are you ready to start investing? But personal finance is personal, and sometimes t …
Opinion: The best ways to save for retirement at every age
The best time to start saving for retirement is always now: the earlier and more often you consider your retirement savings, the better. But as you progress through your career and get older, different financial planning factors come into play. When you’re younger, you may need easier acces …
What to Do With a 529 Plan If Your Kid Doesn’t Go to College
You’ve been saving for years in a 529 plan, which lets you fund your child’s college costs tax-free. But what happens if your kid doesn’t go to college? Will you face a steep tax bill? Not to worry. Money in a 529 account can be used tax-free for many types of schooling, not just expenses a …
How To Generate $100,000 Of Retirement Income, Without Selling Principal
Congratulations! You’ve built a retirement savings balance of $1 million. You’re ready to retire. And you want $100,000 a year of retirement income, including your Social Security benefit, without liquidating a cent of your savings principal. Why $100,000? That’s what you& …
COVID’s Financial Toll Isn’t What You Think
By Erin Wood, Senior Vice President, Financial Planning and Advanced Solutions Just a few years ago, Rose retired with a decent-sized 401(k). With some careful budgeting and a part-time job, her retirement finances were on track. Rose was looking forward to traveling, reigniting her passion …
Emerging Financially Healthy After a Gray Divorce
By: Erin Wood, CFP®, CRPC®, FBS®, Senior Vice President, Financial Planning, Carson Group Laura and Caroline are in their late 50s. Friends since meeting at a playgroup for their toddlers, both were in long-term, seemingly happy marriages.
3 Roth Conversion Traps To Avoid After The SECURE Act
Roth conversions can be a powerful tax and retirement planning technique. The idea behind most Roth conversions is to take money from an IRA and convert it to a Roth IRA. Essentially, you’re paying taxes today instead of paying taxes in the future.
10 Common Estate Planning Mistakes (and How to Avoid Them)
Estate planning and end of life planning are about taking control of your situation. Death and long-term care later in life might be hard to fathom right now, but we can’t put off planning out of fear of the unknown or because it’s unpleasant. Don’t wait for life to happen to you, though.
