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Planning for the Future Together: Retirement Savings Tips for Couples

Written by Zachary Morris, CFP® on .

Elevate your retirement journey together! Explore ten retirement savings tips for couples for a more worry-free financial future.

Ten Tips for Navigating Retirement Planning as a Team

Retirement is a big deal, isn’t it? It’s a time we all look forward to, but getting there, especially with your partner by your side, requires some thoughtful planning and a good bit of teamwork. When you’re managing money together, you’re bound to run into both opportunities and challenges unique to being a duo. It’s really about keeping an eye on what you both want out of your finances and lifestyle as you navigate this planning journey side by side. Whether you’re just starting to talk about retirement or you’re further down the road, here are ten retirement savings tips for couples to consider. 

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Exploring Trusts for Wealth Preservation after Retirement

Written by Zachary Morris, CFP® on .

Learn how trusts might be utilized for wealth preservation and consider their role in estate planning.

Understanding Trusts as a Potentially Strategic Component of Retirement Planning

Retirement planning is more than just a task; it’s a strategic approach that may help to achieve a stable future. It’s not merely about accumulating savings but about making informed decisions that position you well for the years beyond active employment. In the financial planning landscape, the concept of trusts has emerged as a potent tool for estate planning and wealth preservation. This article sheds light on how integrating trusts into your financial strategy could enhance your retirement planning, offering the potential for a blend of security and foresight for your golden years.

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4 Steps That May Improve Your Retirement Readiness

Written by Jeff Diamond, AIF® on .

Enhance your retirement readiness and secure your future with these four key steps to retirement planning.

Guidance to Strengthen Your Preparations for the Future

Planning for retirement requires meticulous preparation, foresight regarding your finances, and a proactive mindset. Regardless of whether you’re at the beginning of your professional journey or nearing retirement age, it is helpful to take measures that bolster your retirement readiness right now. Through prudent decision-making and the implementation of effective strategies, you may pave the way for retirement years that are filled with greater enjoyment, reduced stress, and enhanced financial security. As you plan for retirement, these four steps may help improve your readiness and steer you toward a successful retirement journey.

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Five Financial Tips for Small Business Owners

Written by Zachary Morris, CFP® on .

small business owner
Having a Firm Hold on Your Finances is Crucial to Your Company’s Success

Small businesses are vital to the U.S. economy, employing half of the private-sector workers in our country. They also create 1.6 million net new jobs annually, according to federal data. As of 2020, there are 31.7 million small businesses in America, which accounts for 99.9% of U.S. businesses.

Despite an integral part they play in the economy, small businesses often struggle to find success. In fact, the U.S. Bureau of Labor Statistics has reported that 20% of small businesses fail within the first year of opening and only one-third of businesses are able to survive the 10-year mark. The leading cause small businesses cite as the reason they were forced to shut their doors is – you guessed it – cash flow problems.

When it comes to the success of your small business, having a strong wealth management strategy in place and practicing smart money habits can play a significant role in your long-term success. Follow these five tips to help keep your business on track.

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Benefits of Hiring a Retirement Plan Consultant

Written by Zachary Morris, CFP® on .

retirement plan consultant
Experts Offer Key Assistance in this Complex Landscape

Your company has unique goals and needs when it comes to your retirement plan and your participants. Since you’re busy running and growing your business – and since the number of lawsuits related to mismanagement of retirement plans has risen in recent years – you may find tremendous value in working with a retirement plan consultant.

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Should You Rent or Buy a Home When You’re Retired?

Written by Zachary Morris, CFP® on .

rent or buy a home when retired
Why More Retirees Are Enjoying the Perks of Renting

One of the biggest financial questions near-retirees must answer is what their living situation will look like in retirement. Many choose to move closer to friends or family, while others move simply to downsize. In addition to location and square footage, however, it’s also important to make the decision between renting or buying. Though it may come as a surprise, renting in retirement has become a growing trend. In fact, since 2005, the largest growing group of renters has been people in their fifties and sixties.

Renting may be a growing trend, but how do you know if this is the right decision for you? There are several factors, both emotional and financial, that you’ll need to take into consideration. To help you explore your options, we will discuss several of these factors below, including crunching the numbers, creating cash flow, and the freedom of movement.

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Fitting Equity Compensation into Your Financial Plan

Written by Jeff Diamond, AIF® on .

equity compensation
The smartest move when granted equity benefits is to plan now, not 10 years down the road.

A growing trend in employee benefits is the inclusion of equity compensation to attract the best talent and to recognize top employees. Equity compensation is a form of non-cash compensation that represents ownership in the company, such as stock options or restricted stock. Depending on the company and the type of compensation they provide, employees will either receive company stock upon joining the team or the option to purchase it at a future date into their employment.

Equity compensation can seem complicated, and it may be tempting to let your benefits sit on autopilot, especially if you plan on staying at the company for a while and don’t have immediate plans to sell the stock. This might not be the best move, however, because equity compensation can come with unique tax rules, tax implications, and liquidity challenges. In order to ensure that you’re making the most of these benefits, it’s important to take a strategic approach to manage them and work to incorporate them into your broader wealth management plan. As you do so, keep the following questions and opportunities in mind.

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