Retirement: The Next Best Decade
When discussing getting older too often we hear things like “your best years are behind you”, or “with age comes aches and pains” and many other getting older catch phrases. As we step into the next decade, retirement is undergoing a transformative evolution. No longer confined to a static period of rest after a lifetime of work, the upcoming decade promises to redefine retirement as a dynamic phase filled with opportunities for growth, exploration, and fulfillment.
It’s Financial Literacy Month - Key Components for Financial Success
Financial literacy is the cornerstone of a secure and prosperous future. Understanding the fundamental principles of money management empowers individuals to make informed decisions, navigate economic challenges, and achieve their financial goals. At the heart of financial literacy are six essential components: earning, spending, saving and investing, borrowing, protecting, and financial education and planning.
The Economics of Happiness: Can Money Buy True Joy
Money is often touted as a means to achieve happiness, yet the relationship between wealth and well-being is far more complex than a simple cause-and-effect equation. While financial stability undoubtedly contributes to a sense of security and comfort, the pursuit of material wealth alone does not guarantee lasting happiness.
Choosing the Right Benchmark for Your Retirement Asset Investments
Investment planning for retirement is a complex process that requires careful financial decision-making. A crucial part of this process is assessing whether your retirement assets are on track to meet your future needs. To do this effectively, many individuals and financial advisors use benchmarks to compare their investments to an index. But what exactly is a benchmark, and how can you select one that suits your situation?
Giving Back on Valentine's Day: Charitable Ways to Spread Love
Valentine's Day often conjures images of romantic dinners, heartfelt gestures, and exchanging tokens of affection with a sweetheart. However, according to a 2023 article by the Pew Research Center, “The majority of single adults are not interested in being struck (or even grazed) by Cupid’s arrow” (5 facts about single Americans for Valentine’s Day | Pew Research Center). For those individuals who find themselves unattached on this day of love, there are many opportunities to embrace the holiday in a profoundly meaningful manner.
Navigating Retirement While Supporting Aging Parents
When envisioning our retirement lifestyle, our focus naturally gravitates towards indulging in the activities we cherish: leisure pursuits, travel, quality time with friends, volunteering, and gardening. Rarely does the responsibility of caring for a parent enter into this equation. Yet, for my wife and me, this aspect of life has become a significant part of our reality.
2024 Investment Outlook
Our investment framework, as you may recall, uses a four-quadrant approach and is based on the incremental rate of change in both GDP and inflation. Last year, our investment outlook predicted a strong probability of recession, which has not happened (yet). However, a recessionary environment still looks like the most probable outcome for the first quarter.
Navigating the New Year: Financial Strategies for Solo Households
As we step into the New Year, the dawn of fresh beginnings prompts reflection and resolution. For those steering the ship of a solo household, the journey into the unknown often comes with its unique set of challenges and responsibilities. Navigating through life without a partner or additional support requires careful financial planning to ensure stability and security.
A 2023 Look at The Fourth Turning
In 1997, Neil Howe and William Strauss introduced the captivating concept of "The Fourth Turning," proposing that history follows cyclical patterns, with each cycle lasting 80 years and divided into four 20-year phases, each linked to a distinct generation and societal role. As society transitions from High to Awakening, Unraveling, and ultimately Crisis, these turning points are akin to the seasons of the year, with Awakening mirroring summer and Crisis likened to winter. The pivotal "Fourth Turning" marks the climax of the cycle, where the hero generation confronts the prophet generation as they enter elderhood.
Unlocking Generosity: Gifting to Family with Strategic Charitable Planning
Expressing love through financial support is a powerful gesture, but understanding the tax implications is crucial. Gifting money to family members goes beyond material presents, offering financial assistance and security. In this article, we'll delve into the nuances of charitable planning and the tax considerations that accompany it.
The Widow's Penalty: Why Tax Planning Matters
As if adjusting to the loss of your spouse isn’t difficult enough, the surviving widow or widower is often left facing an unexpected financial burden. Due to various tax laws, the surviving spouse usually experiences not only a reduction in income, but oftentimes both higher taxes and higher Medicare costs.
4th Quarter Investment Planning Outlook
Before diving into the 4th quarter outlook, let's emphasize the importance of building a robust investment portfolio that guards against various risks. Our strategy actively addresses risks such as equity, interest rates, currency fluctuations, liquidity, credit, inflation, foreign investments, time horizons, and economic downturns.
Mastering High Net Worth Financial Planning: The Unique Challenges of Wealth
In today's ever-evolving financial landscape, the importance of financial planning cannot be overstated. It serves as a cornerstone for safeguarding one's financial well-being against life's uncertainties. However, for individuals and families with substantial wealth and complex financial needs, standard financial planning often falls short. This is where High Net Worth Financial Planning steps in to offer tailored solutions.
Maximizing Tax Benefits Through Charitable Planning - A Retirees Take on Charitable Giving
In the world of finance, philanthropy often takes a back seat to discussions of wealth accumulation and investment strategies. However, as my encounter with corporate responsibility at a Fortune 100 Company taught me, charitable planning should be a fundamental part of our financial journey. In this article, we'll explore the concept of charitable planning, its significance, and how it can be leveraged to maximize tax benefits.
Estate Planning in San Diego: A Financial Security Blueprint
Crafting an Estate Plan is a pivotal move to ensure your financial well-being and protect your loved ones, both presently and in the future. This process provides you with the power to determine how your estate is distributed, shield the welfare of your dependents, minimize the tax burden, and maintain your privacy. However, if you call the vibrant city of San Diego home, there are unique factors that demand extra attention in your estate planning journey.
Ask A Retiree: Adapting Retirement Planning in the Face of Climate Change
Living in Arizona, we often jest about having only two seasons: Heaven and Hell. But the sweltering July of 2023, marked by Phoenix's record-breaking temperatures, underscores a new reality. Across the United States, cities are grappling with unprecedented heatwaves, intense rainfall, and severe storms. Climate change's impact on retirement planning is no longer a distant concern; it's a tangible reality that demands our attention and preparation.
Planning for Retirement: Why Many Are Choosing Not to Downsize
For generations, many Americans have considered downsizing as part of their retirement planning goals. By moving to a smaller home, they could leverage the equity in their existing homes to ensure a comfortable retirement. Yet, as retirement age nears, the decision to downsize isn't as straightforward as it might seem. Many are now choosing to stay put. Here's why:
Setting and Achieving Your Retirement Planning Goals
Are you ready to embark on a journey of fulfillment and joy in your retirement years? Just as you've expertly managed your career with clear goals and purpose, retirement planning allows you to craft a remarkable next chapter. Say goodbye to the pressure of performance targets and embrace a new phase of life where your objectives revolve around personal enrichment, experiences, and well-being. Let's explore how you can set meaningful retirement planning goals that will empower you to relish every moment.
Mid-year Investment Outlook: Navigating 2023 and Beyond
As we step into the latter half of 2023, it's crucial to grasp the evolving dynamics between the economy and the market. In this mid-year investment outlook, we delve into the key occurrences of the past six months and shed light on the potential paths that lie ahead for your investments.
Ask A Retiree - Navigating the Path to a Fulfilling Future
I have heard the terms semi-retired, working in retirement, scaling back and “just doing a little consulting here and there”. Why would anyone want to work in retirement in the first place? Why would I retire if I still want to work? Am I retired if I am still working? I must admit I am not in love with the word retirement. If I were still in the corporate world this is where I would insert a Webster’s or Wikipedia definition of the word “Retirement” into my presentation. I will skip that for now and just assume none of us really know what retirement means, or at least it means different things to different people. I have been spending more time talking to retirees and learning from some of their experiences as well as learning from my own experience.