With higher marginal brackets a likely reality and the 2019 SECURE ACT’s elimination of the STRETCH IRA, annual income tax planning has become even more important.
Earned income stops for everyone at some point, and people then need to navigate the transition from saving for retirement to spending from their investment portfolio.
Throughout my career at Parsec, I have had the opportunity to join our founder, Bart Boyer, at several client appreciation dinners. During these events, Bart would famously review the current economic environment and discuss how to build long-term generational wealth. Without fail, he always reminded clients that “there are only two ways to build wealth:
Parsec Manager of Financial Planning and Financial Advisor Judson Meinhart, CFP®, BFA ™, provides guidance for this year’s Medicare open enrollment season.
Are you within 5 years of retiring? If so, here is a retirement checklist for you to reference on what you should be doing five, four, three, two and one year before retirement. Let the countdown begin!
In addition to preparing yourself mentally for retirement, you should also make tactical changes to your portfolio and overall financial plan as you approach your targeted retirement date.
Medicare is an important tool for financial planning during your retirement. It can seem very complex at times.
Are you getting close to retirement age? Have you started daydreaming about long, lazy days in the sun without a hectic schedule filling every minute? Then perhaps it’s time to do something about that wishful thinking and take some concrete action to make a smooth transition to retired life.
Turning 65 made me think about financial security, or perhaps to think about it differently than I did at 45. My perspective on what exactly financial security is has evolved over the years.
I am a parent of two college students and a sophomore in high school, which makes me uniquely positioned to write about planning for retirement while juggling over a decade of education expenses.