What Happens to Your Tax Liability With Proper Financial Planning? When we think about managing our finances, it’s impossible to ignore the impact of taxes. Taxes are integral to our financial lives, affecting everything from our income and investments to estate planning and retirement. The decisions we make in our financial planning have direct consequences…
Over the last decade, I’ve noticed a theme when working with my client families. While the question may not come out exactly this way, the essence usually distills to, “How should we allocate our hard-earned dollars?” One of the key concepts in financial management is cash flow – the inflow and outflow of money in…
In our video “First Step Cash Management: Simplify and Automate Your Finances” you’ll learn about a cash flow plan called First Step, which aims to help individuals align their spending, saving, and investing with their values and goals. Why First Step Cash Management We start by emphasizing the importance of knowing where our money goes…
Second to income replacement, healthcare coverage is one of the more important planning opportunities to consider as you transition to retirement. Whether you’re working or already retired, this post is designed to give you a high-level overview of Medicare, what Original Medicare covers (and what it doesn’t), and your options around supplemental policies. What is…
Planning for Medicare and adequate healthcare coverage is central to retirement planning. Often, unknown Medicare surcharges lurk for those over certain income thresholds. This post discusses those fees, thresholds, and your options for reducing them. What is a Medicare Surcharge? Medicare surcharges (also known as income-related monthly adjustment amount or IRMAA) increase the premiums paid…
Individuals and retirement planning experts alike are recognizing that a successful and satisfying retirement experience depends on more than a healthy nest egg. In fact, retirement should be thought of as a major life transition that deserves thought and preparation in all areas of life. (I like to provide you with a few options for…
You can consider this blog/vlog entry a mini-workshop for those of you looking for a framework to help guide your philanthropic intentions. I have had several client families in the same predicament: they’ve saved diligently, and through our work together, we ensure that their nest egg will support them to and through retirement. They have…
Sorting out what to do with inheritance dollars often involves a combination of emotional fortitude and practical strategy. In this video, I share some key questions, the financial implications for planning, and share several resources to learn more as you determine what to do with inheritance dollars. Click here for the infographic and explore the…
Individuals in mid-life and beyond are increasingly viewing retirement not as a time to relax but as a time to explore their potential and find a new purpose in retirement. It was Abraham Maslow, a psychologist, who gave us the term, “self-actualization.” He called it man’s desire for fulfillment, “to become everything that one is…
As we inch toward April 18th, it’s a good time to remember the essentials of a tax return review. Whether you prepare them yourself or work with an accountant, reviewing last year’s returns is a great idea to help ensure you implement planning opportunities early in 2023. Checklists Here are two very helpful checklists I’m…