Updates to Rates of Return. Rates of return are tied to a dollar’s expected usage point. ROR assumptions are crucial to retirement financial planning because they anticipate how dollars will meet plan needs over time. Short, Medium, and Long-term money will each have different expected usage points. Naturally, these different pockets should have varying risk […]
The Secure Act 2.0 overhauls, pioneers, and expands upon many new rules for retirement savers. But what are key provisions that new retirees should be aware of? The full text of the omnibus bill text can be found here. What are the important retirement provisions? Section 107: Increases to RMD ages for some retirees Effective […]
#1 Not having a rational process Having a rational process for decision-making helps maintain focus, reduces uncertainty, and ensures that everyone remains on the same page. Having a process translates to efficiency and usually results in more money spent AND less frustration. Having a process should allow individuals to internalize planning subjectivity and view the […]
Choosing a retirement date is the final step before entering retirement. But for it to be a smooth transition, most individuals will need to coordinate benefits and potentially make last-minute adjustments to their financial planning retirement strategy. #12 Re-thinking the Retirement Budget Generally, retirees enjoy more free time once they retire. In many cases, that […]
As the COVID-19 pandemic swept the country, we first reported this event’s game-changing effect on retiree income, specifically for those who recently retired or were about to retire. Many individuals do not fully understand how the pandemic (and now the Ukraine invasion) has fundamentally changed retirement planning. Many who do, feel forced to take on […]
When changing jobs or retiring, it’s always prudent to consider all your options as far as employer-sponsored retirement accounts. In rare cases, it can make sense to do nothing, and leave the retirement account with the old employer. There can also be benefits to transferring the account to your new employer’s plan. And sometimes, it […]
Budgeting is one of the least liked parts of the perfect financial planning process. However, getting a real sense of essential and discretionary expenses in a privacy-protected manner may be far less complicated than you think. Tech now allows anyone to utilize software and quickly link up bank accounts. Your data is uploaded, and algorithms […]
COVID placed a ‘wedge’ in the retirement plans of almost all retirees. Far too many people I meet think of their money as one giant “lump.” If you think of it that way, then you are likely missing an opportunity to be efficient (and probably in multiple ways). You’re missing a “broad landscape” opportunity to […]