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Yes, Social Security Income Is Taxable – But Yours Doesn’t Have To Be
As you move toward retirement, you can’t be content just to accumulate assets. You need to develop a retirement income plan that can help guide you when it comes time to turn savings into sustainable retirement income.
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A Simple 3-Step Process to Optimizing Your Budget
A Simple 3-Step Process to Optimizing Your Budget By Abbey L. Henderson, CFP®, RLP®, CPCC® Creating and optimizing your financial budget requires making some difficult decisions. In the years that I’ve spent as a financial life coach, time and again I’ve seen clients struggle with budget optimization. They often find it difficult to prioritize and cut out non-essential items. If this is your experience, I encourage you – do not give up! A budget is one of the most important things you can do for your financial plan as it gives you the financial direction you need to make everyday...read the full article
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Compounding Wealth (and Wisdom)
No single strategy works forever, but you also don’t want to change your approach every time the markets shift slightly. How does investing work – not just for a season or a year or two, but for a lifetime? Time is a major factor when it comes to successful investing.
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Nine Questions to Ask Yourself to See If Early Retirement Is a Good Idea For You
By Abbey L. Henderson, CFP®, RLP®, CPCC® I’ve noticed a trend in my conversations with clients lately about whether the FIRE movement—Financial Independence, Retire Early—is a good idea or not. I cannot simply answer yes or no to this question because it depends on a lot of factors – some obvious, some not so much. Retiring at 40 or 50 years old sounds like a dream to some. However, it’s not for everyone. The FIRE strategy requires aggressive saving and the accumulation of enough assets so people can live off the passive income. Then, once financial independence is reached, they...read the full article
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4 Tips to Take Your 401(k) to the Next Level
The best kind of money isn’t old, new or even tax-advantaged – it’s free money! If your employer has a 401(k) program, they probably have a matching plan. Know what that is and make sure you max it out. They’re essentially giving you money, which you never want to turn down.
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Why You Need To Write Your Money Autobiography
By Abbey L. Henderson, CFP®, RLP®, CPCC® All of us have a history with money that shapes our behavior and beliefs. As a financial advisor, I’ve seen time and time again that one of the biggest determiners of our future with money is the “lessons” that we’ve learned in the past which is why a money autobiography is so helpful.
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Why You Need a Will (and You Need One Today)
Who wants to spend an afternoon thinking about their mortality? No one, which is why more than half of Americans don’t even have a will. The foundation of your estate plan is a Last Will and Testament. Without a will, you are leaving the disposition of your assets and the guardianship of your minor children to a court.
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How a 529 College Savings Plan Can Help Make Summer Dreams a Reality
I have always loved the feeling of summer. Once Memorial Day celebrations kick off, the atmosphere seems to relax. Sunshine, water and sunscreen seem to be everyone’s focus. Long, warm nights are filled with the sounds of lawn mowers and children laughing.
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Should you invest in a Roth or Traditional IRA?
Multiple retirement savings vehicles are available but having options can be overwhelming. Each option comes with different rules leading to a variance of outcomes in the short-term and long-term. It’s not that dissimilar to choosing what to eat.
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The Progression of Financial Planning Through Every Decade of Your Life
Your career and lifestyle look completely different when you’re in your 20s compared to when you’re in your 60s – your financial focus and planning in each decade should follow suit. I’ve highlighted three financial tactics to focus on in each decade of your life starting with your 20s.
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