Tag: retirement planning

2026 Social Security Increase! What’s the REAL Number?

Written by Sarah M on July 7, 2026.

The numbers are in for the new Social Security Cost-of-Living Adjustment (COLA). It might seem like beneficiaries are getting a raise, but the increase may not feel as significant as many retirees expected. That’s because your Social Security COLA isn’t the only thing affecting the amount that actually lands in your bank account each month. Rising Medicare Part B premiums can offset a portion of that increase, leaving many retirees with a much smaller bump in their monthly checks.

Here is a closer look at how the Social Security cost-of-living adjustment is calculated, why Medicare premiums matter, and whether today’s inflation measure accurately reflects what retirees are really experiencing.

6 BIG Retirement Mistakes (And How To AVOID Them)

Written by Zachary Morris, CFP® on May 26, 2026.

Even small retirement mistakes can quietly cost you thousands. Many retirees spend decades preparing financially, only to discover that retirement planning is about much more than reaching a certain account balance. Your investments, taxes, healthcare costs, spending habits, and withdrawal strategy all work together. Here are six retirement mistakes that can quietly derail a financial plan and what you can do to avoid them.

6 Social Security Mistakes You Should AVOID. Here’s How!

Written by Zachary Morris, CFP® on May 14, 2026.

A lot of people think Social Security advice is one-size-fits-all. But even one mistake can cost you thousands of dollars over the course of retirement. It’s important to have a Social Security strategy built around your situation, not just general advice. Here are five of the most common Social Security mistakes people make.

How Much Money Can I Give To Kids Without Paying Tax?

Written by Zachary Morris, CFP® on May 4, 2026.

There are a few common misconceptions about how to gift money to children. Some believe they can pay for weddings, renovations, or even contractors directly without tax consequences, while others fear the IRS will penalize them for giving “too much.” Let’s break down the truth about annual gift exclusions, lifetime exemptions, and smart strategies for transferring wealth.

3 Big Risks When You Are Retiring With a Pension

Written by Zachary Morris, CFP® on February 12, 2026.

A pension can be an incredible benefit if you are lucky enough to have one. Pensions help with income, predictability, and peace of mind in retirement. While they provide stability, there are three hidden pension risks that can quietly erode your financial security. If overlooked, these risks could mean the difference between a surplus and running out of money too soon.

The good news is that none of these challenges is insurmountable. With the right type of planning, they can be anticipated and managed.

5 Good Reasons Not to Get Long Term Care Insurance

Written by Zachary Morris, CFP® on December 5, 2025.

Long-term care insurance isn’t right for everyone. In fact, there are some situations where it might not make sense at all. We’re covering five reasons why you might not need long-term care insurance at all. If any of these reasons fit your life, you might actually be better off without a policy. Do you already have a policy that’s starting to feel like a burden? If so, learn how to reduce the costs without completely walking away.

The 6 RMD Mistakes Wealthy Retirees Can’t Afford to Make

Written by Zachary Morris, CFP® on November 24, 2025.

common required minimum distribution mistakes

Did you know that missing just one required minimum distribution (RMD) could cost you up to 25% in penalties from the IRS? But did you also know that if you catch the mistake within two years, you could get the penalty down to 10%. Learn about how penalties work, the most common required minimum distribution mistakes, and the steps you can take to stay on the IRS’s good side.

Can I Take Social Security While Working?

Written by Zachary Morris, CFP® on October 15, 2025.

Did you know you could end up owing thousands of dollars back to Social Security, even if you’ve already received the money? Sounds crazy, right? But it’s true. There’s one rule that catches a lot of people off guard. The Social Security earnings test. It’s one of the most misunderstood parts of Social Security. If you plan to keep working while collecting benefits, you need to know how it works.

4 Retirement Traps No One Tells You About

Written by Zachary Morris, CFP® on September 16, 2025.

Most people spend decades preparing financially for retirement, but very few consider the emotional and mental changes that come with it. Retirement isn’t only about money in the bank. It’s also about identity, purpose, relationships, and planning for the future. Retirement often feels more uncertain and overwhelming than it needs to. The transition out of work is a whole new stage of life with hidden retirement traps that can catch you off guard.

Life will look and feel different when the structure of work is no longer there. Let’s take a look at four challenges that often surprise people after they retire and how to navigate them.

The 5 Mistakes That Can Destroy Your Retirement Plans

Written by Zachary Morris, CFP® on July 15, 2025.

Retirement planning tips to avoid costly financial mistakes before retirement.

If you’re starting to plan for retirement, you’ve got the right idea. But keep in mind retirement isn’t about reaching a magic number in your bank account. Before you spend another dollar, it’s worth taking a step back. Because the truth is, retirement isn’t just about how much money you’ve saved, it’s about the smart choices you make today. One wrong move could mean pushing retirement further away, or worse, never being able to retire at all.