Financial Planning

Deciding when to claim your Social Security benefits can have a large impact on your retirement income, and many individuals aren’t making the most of it. In fact, only about four percent of retirees are making the optimal Social Security claiming decision, which results in a loss of about $2.1 trillion in wealth.

As past podcast guest, David McKnight, says, “The tax train is coming,” and we should all be ready. Experts believe tax rates will increase with each passing year, and on top of that, President Biden has proposed bills that would raise both corporate taxes and the long-term capital gains rate tax for anyone making more than $1 million per year.

Many retirees wonder if their lifelong savings will last the long-run, and you might be one of them. Feeling confident in the stability of your retirement plan includes honing in on your income, and this article highlights two questions to ask yourself while doing so.

I’m an avid goal-setter in many areas of my life. Needless to say, that includes my investments. They have a purpose, they’re led by a strategy but I also need to gauge if they’re on track with where I need them to go, and I’m able to do this through intentional goal-setting.

A question our team often faces is, “When should I retire?” And for couples, a follow-up inquiry can also include whether or not that answer should differ from your spouse.

Here’s a unique way to view your investment options, and it’s a strategy Warren Buffett and his right-hand man, Charlie Munger, utilize as well.

Tales of the impending demise of Social Security benefits continually circulate the financial world; However, you shouldn’t let these scare tactics get the best of you.

Retirement planning legends and rules-of-thumb are plentiful, but do they hold true when it comes to your hard-earned dollars?

The optimal asset allocation mix for retirement isn’t clear-cut. It depends on a multitude of variables specific to you, such as age, presence of other income sources and most certainly, your risk tolerance.

The author here (a self-proclaimed pyromaniac) makes a very important observation as it relates to the popular Financial Independence, Retire Early (FIRE) movement: “It is usually easier to start a fire than put one out.”

Navigating your way through the long-term care marketplace can be confusing. How do you know if the policy you purchased years ago is still the best option for you?

We’ve previously discussed the concept of a ‘phased retirement’ on the Retire With Purpose podcast, but another way to test out this new lifestyle is a retirement trial run.