Image

About Stan Corey

Stan Corey is a CFP, ChFC and CPWA providing financial life management for more than 36 years. Stan has published a novel, The Divorce Dance, which is a story about a divorcing couple whereby the wife, Natalie, guides the reader though the divorce process and how to have a respectful divorce. Please visit his website http://www.divorcedance.com
Latest Posts | By Stan Corey
Transitioning into Retirement? Do These 5 Things First!
2 days ago

Transitioning into Retirement? Do These 5 Things First!

By  •  Lifestyle

Have Open and Honest Conversations with Spouse/Partner About Your Retirement Journey

Having an honest conversation with your spouse or partner about how you envision your retirement – including each of your greatest concerns, fears, desires and wants – is an essential step during this stage.

Consider having each partner separately write down what their thoughts are about retirement, and make a list of what is really important. Afterwards, compare the two and see where there are common interests, concerns and feelings and where there are differences.

This presents a great opportunity for a constructive conversation that will help you enter the journey of retirement. If you are diabolically opposed, then maybe you will need a mediator!

Form a Team of Professionals That Will Provide You Guidance

Once you realize that all the years you spent saving for retirement now come down to making decisions that may affect the rest of your life, you may also realize you cannot go it alone – even if you’ve gone it alone up to this point. The reason is that everything you know or think you know is about to change!

When couples are transitioning into retirement – and as someone who’s evaluated people’s financial lives for his entire career – I can confidently say that in most instances, one spouse has a better grasp of the couple’s finances than the other.

Quite often, the knowledge gap is huge. In other words, one spouse knows everything about the couple’s financials while the other person is essentially financially illiterate.

If the spouse with the high level of financial knowledge outlives his or her partner, this will most likely result in a financially smooth transition from partnership to singlehood.

If, however, the spouse with less or no financial knowledge outlives his or her partner, this could result in stress and loss of money as a result of poor decision making. So, if you’re the one who has been mostly on the sidelines managing your family financial affairs, it’s time to get up and get into the game. Read More

Marriage Advice for Family Members: 12 Questions to Ask Before Saying “I Do”
4 months ago

Marriage Advice for Family Members: 12 Questions to Ask Before Saying “I Do”

By  •  Family

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. Read More

Understanding and Thriving in the Different Stages of Retirement
7 months ago

Understanding and Thriving in the Different Stages of Retirement

By  •  Lifestyle

For nearly 40 years, I’ve been providing financial guidance and advisory services to individuals, couples, multi-generational families and small businesses. Read More

9 Ways to Reduce Anxiety and Fear About the Transition to Retirement
9 months ago

9 Ways to Reduce Anxiety and Fear About the Transition to Retirement

By  •  Lifestyle

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. Read More

Understanding Estate Planning: 6 Beneficiary Designations and How to Manage Them
11 months ago

Understanding Estate Planning: 6 Beneficiary Designations and How to Manage Them

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! Read More

Is a College Savings Plan the Perfect Gift for Grandkids?
1 year ago

Is a College Savings Plan the Perfect Gift for Grandkids?

By  •  Family

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! Read More

Get More from Your Money with Retirement Distribution Planning
1 year ago

Get More from Your Money with Retirement Distribution Planning

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. Read More

2 Divorce Questions Every Older Adult Should Ask… But, Few Do
1 year ago

2 Divorce Questions Every Older Adult Should Ask… But, Few Do

By  •  Family

Unfortunately, men and women rarely ask themselves two essential divorce questions as they begin the process or while negotiating the final settlement: Read More

Navigating the Transition to Retirement in the 3 Most Emotional Categories
1 year ago

Navigating the Transition to Retirement in the 3 Most Emotional Categories

By  •  Lifestyle

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! Read More

Divorce After 50: Making Smart Choices About Your Divorce Property Settlement
1 year ago

Divorce After 50: Making Smart Choices About Your Divorce Property Settlement

By  •  Family

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. Read More