Disagreeing with Dave Ramsey Regarding the Lump Sum Pension

A client recently told me that he was planning on taking the lump sum pension because he heard from Dave Ramsey this is the best option.  Are you kidding me?! You are making one of the biggest financial decisions of your life based on a four paragraph article by Dave Ramsey? I know the guy is THE financial guru, but he doesn’t know your personal … Continue reading Disagreeing with Dave Ramsey Regarding the Lump Sum Pension

How Much Home in Retirement Can You Afford?

The goal for many in retirement is to be debt free.  Yet, as homes have become more expensive and people move more frequently, having a mortgage in retirement is becoming more and more frequent. This article discusses the maximum amount your monthly mortgage or rent should cost in retirement. The 20% rule of thumb while working When someone is working, my general rule of thumb … Continue reading How Much Home in Retirement Can You Afford?

How to Apply For Social Security in Michigan

You’ve made the decision to start your social security benefit.  You’ve either been counting down the days to age 62.  Or, you have been delaying social security and are now ready to turn on a larger benefit. If you are looking to do some planning on when to draw social security, please read these articles.   This post is meant to address the different options that … Continue reading How to Apply For Social Security in Michigan

The Worst Part of Buying an Annuity, Is Not The Annuity

My first “big break”, or so I thought, in the finance industry came when I was 24. I spent two years working with at-risk children in a wilderness camp, a whole different story, and I was ready to begin my career in the finance world. I imagined this meant completing financial plans and helping clients as they transitioned into retirement. Receiving postcards from clients as … Continue reading The Worst Part of Buying an Annuity, Is Not The Annuity

Tax Hacks: The Backdoor Roth 401(k)

Sure, you may be familiar with a backdoor Roth IRA, but have you heard about it’s bigger and much better brother, the backdoor Roth 401(k)? Can I interest you in saving over $50,000 a year in your 401(k), all of which is tax-free income? No, this strategy is not for everyone, but those who want to really max out their savings, the backdoor Roth 401(k) … Continue reading Tax Hacks: The Backdoor Roth 401(k)

4 Steps To Avoid Being Ripped Off By A Financial Advisor in Michigan

Over the weekend an unfortunate story came out about a couple that was “bamboozled” by a financial advisor.  An excerpt From Reddit:   SO a week or two goes by. And I see a ~$30 charge go through for “disability insurance”. WHICH I TOLD HER I DIDN’T WANT!! And I just realize… this doesn’t feel good. It doesn’t seem right. She’s not listening to what … Continue reading 4 Steps To Avoid Being Ripped Off By A Financial Advisor in Michigan