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Retirement Withdrawal Rates

Published By: Erik Christman, CFP®, CPA  Because withdrawals from the retirement portfolio play such a huge role in retirees’ cash flow plans, it’s important to get this right. The right withdrawal rate generates enough income for the retiree to live comfortably today, while still enabling the growth needed to meet cash flow requirements 30 or 40 years into the future. This is no small task.

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It Depends…

Published By: Erik Christman, CFP®, CPA  Like most financial planners, we’ve seen many couples who’ve saved for years, recognizing the need to accumulate a nest egg large enough to see them through their retirement years. They come to us filled with hope for a fruitful retirement, yet grappling with uncertainty. They might have a million dollar portfolio, thinking, “We’re millionaires – surely we’re set for life…right?” Until we take a closer look, there’s not much I can say except, “Well, that depends.”

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How to Avoid the Top 3 Financial Fears in Retirement

You’ve worked hard for your money and during your retirement years, you want to have confidence that you can enjoy it. However, many retirees have common concerns as they move from asset accumulation to asset preservation. “Am I spending too much?” “Have I set aside enough for long-term care?” “Will I outlive my assets?” These are all questions many retirees think about.

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The 4 Pitfalls of No Plan

There are some things in life you just can’t plan for: an unexpected illness, job loss, death of spouse, disability…While these major events can impact your life, having an effective game plan can help ensure that it doesn’t ruin your financial well-being. Let’s say you choose to not have a financial plan. How does this decision impact the confidence you want/need for your future?

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What is goals-based planning?

“A goal without a plan is just a wish.” Is there something you’ve always wanted to do but still haven’t done it? Maybe time constraints are holding you back or you are unsure if your financial resources will accommodate your plans. Or maybe, like a lot of people we meet, you haven’t taken the time to really think about what you want.

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Priorities Drive Plans

Published By: Erik Christman, CFP®, CPA  Life happens and things change. Some change can be anticipated; some can’t. when it comes to your financial plan, it’s important to recognize that modifications may be needed in light of significant life events. You get a big inheritance. You lose a job. Your spouse dies. When such things happen, you must consider how they might affect your overall planning strategy.

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Finding A Financial Professional

Published By: Erik Christman, CFP®, CPA  Finding a true financial professional is an understandably daunting task.  The financial industry has done itself no favors over the years by continually employing bad actors that put their own self-interest ahead of their clients.  Fines, settlements and, in some cases, prosecutions of financial advisors continue despite repeated efforts by the government and the industry to crack down on rogue salespeople.  Worst of all, these problems continue at a time when Americans are, more than ever, in need of sound financial advice from someone they can trust.

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The Truth, Nothing but the Truth

Published By: Erik Christman, CFP®, CPA  One of the things we always tell prospective clients is that you can’t build a plan unless you are realistic about the possibilities and clearly understand how you are doing. I’m comfortable with giving people the unvarnished truth—and I know we have driven some people away when we gave them the facts.

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How to Set up a Trust

Published by Beth Schanou, Director of Wealth and Estate Planning A trust can be a necessary tool for an estate plan. But, you may ask, what is a trust? Put very simply, a trust is created with a formal legal document to manage assets for beneficiaries. The trust is created by a person called the Settlor or Grantor, and a Trustee is appointed to follow the rules of the trust for management of the trust and its assets for the beneficiaries’ benefit.

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Things to Think About

Published By: Erik Christman, CFP®, CPA  In our financial planning work, we look at five major areas:

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