When a couple decides to get married, they are often lost in the moment and preparation for the “big event.” We have all heard about the let down when the honeymoon is over and reality sinks in.
For nearly 40 years, I’ve been providing financial guidance and advisory services to individuals, couples, multi-generational families and small businesses.
I have been dealing with the topic of the transition to retirement for the past 25 years. During this time, I’ve worked with clients considering retirement at many different times in their lives. Some have retired at the “normal” retirement age of 65 while others have retired by age 50 or deferred to age 75 and even 80.
The use of beneficiary designations is one issue that is not well understood and can lead to much confusion.
Most people think it is a simple matter of naming a person to receive certain assets by will or trust or naming them as a beneficiary of a retirement plan. I only wish it were that simple!
As we enter the holiday season, we grandparents find ourselves wondering what to get the grandkids. This year, here is a suggestion that will have a lasting impact!
One of the major concerns for those entering into retirement is no longer having a paycheck. In addition, there is a normal fear of running out of money and having to spend what we spent a lifetime saving. One of the primary issues is how to make withdrawals from the various accounts we have built up and the timing of withdrawing from these accounts, both personal and retirement.
Unfortunately, men and women rarely ask themselves two essential divorce questions as they begin the process or while negotiating the final settlement:
One of the most difficult and emotional times in our lives is making the transition to retirement. Sure, all of the ads make us think of freedom, buying a vineyard, going sailing or hitting the road in a Winnebago!
I have found that in many cases a divorcing couple becomes focused upon the division of assets without consideration to the cost of ownership and income tax issues, which can create a significant imbalance.
Have you retired or are about to retire? Here are a few things to remember as you move into this next journey of your life. Note that retirement is not about an age or amount of money; it is when work is optional!
Some of these reminders are passed down from an older generation but we sometimes forget them.