The goal in retirement is to have an investment strategy that creates a steady stream of income while minimizing downside risk. Yet, the strategy needs to be aggressive enough in which your account can grow and keep up with inflation.…
Category: Retirement Planning
Michigan Retiree: Get a Bigger Tax Refund
Anyone who does their own taxes has been there before. The moment you input all of your taxes, hit the submit button, and close your eyes and hope that you don’t owe money. Taxes are pretty simple. Have enough withheld…
Video: Beware Of This Annuity Mistake
https://youtu.be/xC8EkN4eE70 Careful of Guaranteed Rates of Returns on Annuities How can you lose money when the annuity salesperson "guarantees" a 6.5% rate of return? This video discusses what you should be aware of before buying an annuity. Of course, a…
How Much Home Can You Afford in Retirement?
When Bob and Sally came into the office, their finances were a mess. They had recently retired and were withdrawing nearly 10% annually from their retirement savings. At their current withdrawal rate, they would be out of money by the…
5 Questions You Must Ask Before Buying An Annuity
Buying an annuity is not that different from buying a home. Let’s break it down: Both involve pretty high fees (6% realtor commissions don’t pay themselves)Both involve long time commitments as annuities have high surrender fees, and most homes aren’t…
Video: The Secret of Financial Advisor Fees
Does it make sense that most financial advisors charge more just because you have saved more? It doesn't to me, so I did something about it.
Self Employed in Michigan? Comparing a SEP IRA vs. a Solo 401(k)
For years, the SEP IRA was the gold standard retirement plan for the self employed. High contribution rates? Check. Easy to open? Check. Flexible investments? Check. However, the SEP IRA is getting some competition, from the solo 401(k) (a.k.a an…
Read More Self Employed in Michigan? Comparing a SEP IRA vs. a Solo 401(k)
Social Security Benefits for Widows in Michigan
When Anne’s husband passed, her social security benefit was the last of her concerns. Finding the right cemetery, breaking the news to friends and family, and grief dominated her thoughts. Who can blame her? The man that she had been…
Tax Hacks: 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? Sure, you may be familiar with a backdoor Roth IRA, but have you heard about it’s bigger and much better brother,…
6 Questions you Must Ask a Potential Financial Advisor
I’ve sat down with hundreds of potential clients in my career, and I’m always amazed at how few questions I receive. Sure, I get the common question, “What are your fees?”, but almost nothing else. It appears to me that…
Read More 6 Questions you Must Ask a Potential Financial Advisor