Entries by Pat

5 Ways to Minimize Taxes in Retirement

It can take a lot of legwork to ensure that you’re starting retirement off on the right foot.

A solid understanding of your tax situation — and how to manage it — is a key part of doing so. With these tips, you can help make your golden years more prosperous.

Some of the tips might seem small, but even the little things help add up to big results over time, so don’t forget to take the next step — implement these retirement strategies today!

Avoid These 3 Costly Retirement Tax Penalties

Retirement might seem like it should be all golf carts and leisurely lunches, but making the transition work for your finances can be a challenge. Unfortunately, many retirees find themselves paying taxes and penalties on decisions they didn’t think were all that important — until it was too late.

Let’s take a look at 3 common tax mistakes and how you can make sure to avoid them.

What is a Roth IRA and How Can I Use It?

You’ve probably come across the term “Roth IRA” before, but what does it mean — and how can you use one? These retirement savings vehicles can be a powerful part of retirement planning if used in the right situation, but they aren’t foolproof. Here’s what you need to know about Roth IRAs before you invest.

Don’t Forget This Secret Ingredient in Your Budget

Are you pressed for time? How about money?

If you’re like most of us, you probably feel the strain or one or the other, if not both. In this day and age, it just never seems like there’s enough time in the day or enough money in the bank.

But did you know that your feelings of scarcity might be harming your ability to make good financial decisions?
Read on to learn about the intellectual effects of the everyday stress of scarcity — and how to combat it with one critical line item in your budget.

5 Ways to Measure Your Financial Resilience

When putting together your personal financial plan, you’ll likely spend a lot of time thinking about your goals, risks, dreams, and fears. It’s a practical exercise, but it’s driven by much more than dollars and cents.

In doing all this thinking, one area that’s easy to overlook is resilience. How much can you withstand in your current financial situation?

Are you ready to reveal your own resilience? Read these 5 ways …

How to Start Building Diversified Income Streams for Retirement

Retirement income planning can feel overwhelming. You might not feel completely confident about how much income you can count on, where it will be coming from, and how to manage the risks you face. Building predictability and diversification into your retirement income plan can help. Here are a few income sources to think about as you get started.

What is Dividend Paying Stock

You may have heard of dividends before, but do you know about dividend-paying stocks as an asset class? While they aren’t suitable for every investor, dividend-paying stocks can be a useful part of a diversified portfolio. Here’s what you need to know…

Don’t Forget to Max Out Your Retirement Savings

You know you should be saving for retirement, but did you know that your qualified retirement accounts could provide an opportunity to save more? Read on for three reasons why you should consider maxing out your qualified retirement savings contributions this year.

The Hidden Retirement Planning Risk

Building retirement assets is a process that can take decades. So it makes sense that many pre-retirees are very concerned about capital preservation, or the strategy of maintaining principal rather than pursuing growth. But focusing too much on capital preservation can come with a hidden risk: the possibility of…