I was recently delighted to hear of the retirement of one of my fave estate planning attorneys. I’m so happy for her to reach this milestone. Then, I heard from her successor that some of the attorney’s clients were really angry about her retirement. My delight was diminished. Yes, change is hard. It’s not fun…
Never let it be said that an old dog can’t be taught new tricks! Old Dog = Me. I learned something mind-blowing from Michael Kitces at a conference in August that backtracks on a “rule” I have followed for years. In my month-long September rant about RMDs and not freaking out about them, I said…
I think that personal financial planning is Ground Zero for FOMO (fear of missing out) for those of us over a certain age. Those of us who need FOMO spelled out. 😊 Everyone’s worries are valid, but many times they are overblown or don’t even apply. But some things we worry about are going to…
You’ve made it this far in the RMD Series. And you’re tired of my telling you to just not worry about RMDs. That’s fair. There are legitimate concerns that one might want to plan to avoid. Tax brackets could go higher during your retirement. Estate rules could get even harsher for inherited tax-deferred accounts Your…
Props to Ed Slott, Jeffrey Levine, and Bob Carlson. They sure do get the word out to the public with their RMD analysis. And, I’ll just say it, scare tactics. Witness the blitz of books, blogs, and podcasts about the IRA Tax Bomb, the Minimum Distribution Monsoon, Withdrawal Flash Flood Warnings, and Estate Tax Explosive…
I attended a Red Rocks concert a few years ago where the artist, after doing an excellent cover of a Tom Petty song, declared to the crowd, “As they say in Hollywood, if it’s worth doing once, it’s worth doing again.” At which point he launched into a cover of another Tom Petty Song. And…
If you’ve ever met with a financial advisor, you’ve probably heard something like, “Your plan has an 85% chance of success.” That sounds pretty reassuring—but what does it actually mean? The answer usually comes from a Monte Carlo simulation. Monte Carlo software is a way to test thousands of possible futures instead of pretending anyone…
A very common topic with my financial planning clients is how to pay for a big home renovation. Whether it’s finishing a basement, relandscaping, or adding a second floor, home improvement is a big wish for many people. And then the quotes start rolling in. Sticker shock often has homeowners saying, “Is the brown shag…
Disclosure from Kristi before you read this: I do not sell or have any easy entrée into private equity investments. Unless it’s traded on the regular-old public markets exchange, you won’t get advice to buy private equity from me. However, you may be wondering what it’s about, if you are missing the boat, etc. So,…
The Mega-Back-Door Roth 401 (k). Oh, how the government likes to look like they are helping us create our own financial security in the face of a very small social safety net for our country’s ill and elderly. And you know who else loves it? That’s right, the financial news industry! Every time the government…
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