Super-fast blog today! If you are looking to generate regular payments out of your portfolio and find yourself in a quandary of what securities to sell, try this: Turn off the dividend/interest reinvestment feature in your mutual funds. Those distributions will go to cash and can build up your liquid position without selling shares. Caution: …
Is it safe to write about the banking crises that almost was? I try not to feed into the media frenzy when financial news is freaking people out. Maybe we can look back now and see what happened and if you should (or should not) worry about the banking system. First, why do banks fail? …
This week I am excited to share the expertise of interior designer Michelle Ku. What does this have to do with personal finance? Your house is a huge investment. Of course, you want to surround yourself with colors and objects that make you happy. But you might consider resale value when making design decisions. …
I think of creating retirement income plan in terms of funnels and buckets. The funnel is the decision-making process. The buckets are where your various accounts are placed and invested for income. First, the funnel. Start wide at the top with the overall retirement projection. This informs how much you can safely spend in…
Welcome back. For those of you who have stuck with this series, you are rounding 3rd base! Almost through the quick tutorial to help decide what order to tap your savings for retirement. Withdrawal Method #3: Pro Rata. Take withdrawals each year proportionately from the 3 types of accounts. Example: Joe and Sue have 50%…
Welcome back to the bite-size tutorial series about retirement withdrawal methods. This week we look at Method #2. Method 2: Tax-Deferred accounts first, Taxable (aka non-retirement accounts) second, Roth last. Pros: Spreads taxes owed on deferred accounts over a longer period of time. Get ahead of Required Minimum Distributions, possibly keeping yourself in a lower…
In last week’s blog, I introduced some thoughts and methods of tapping into your savings to create a retirement paycheck. This week, we will look at the Method #1. This is the first method just because it’s kind of the standard one people default to. It’s not necessarily the best for you. Method 1: Taxable…
Retirement in America is not for wimps. For most people, gone are the days when you hang up your tools one day and then go home to a steady pension for the rest of your life. Nowadays, we must consider Social Security claiming strategies, required minimum distributions rules, ever shifting tax brackets, and changing…
This blog is thanks to an alert reader who asked me the question about why all financial planners are not required to be fiduciaries. I’m ALWAYS looking for blog topics, so please e-mail me your questions! First, what is a fiduciary? In financial services, being a fiduciary means that your advice ALWAYS benefits the client…
This week I’m thrilled to share the expertise about life insurance of Ladicia Grosch, COO and Principal of Bridge Life, LLC. Ladicia partnered in creating Bridge Life in 2012. She has worked in the wealth transfer and life insurance industry for over eighteen years. Ladicia oversees company operations including compliance, human resources, financials, technology, and…
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