Blog Posts

The Bucket Plan: Organizing Your Assets for Retirement Phases

Wednesday, July 17th, 2024

The Bucket Plan is a smart way to manage your retirement savings by splitting them into three separate "buckets," each designed for a different purpose and timeframe. This strategy helps reduce risks, keeps cash handy when you need it, and ensures you have a steady income throughout your retirement. The three buckets are called the Now Bucket, the Soon Bucket, and the Later Bucket

IRA Showdown: Traditional vs. Roth – Which Is Right for You?

Tuesday, June 25th, 2024

Planning for retirement can often feel like navigating a complex maze, with countless decisions to make along the way. One important choice to make is selecting the right Individual Retirement Account (IRA). Two popular options stand out: the Traditional IRA and the Roth IRA. Understanding the differences between these accounts and how they align with your financial goals is crucial for maximizing your retirement savings. Let’s break down the key features, benefits, and drawbacks of each type to help you decide which IRA is right for you.

Financial Mapping: Your Key to a Secure Retirement

Friday, June 14th, 2024

Choosing immediate fun over future safety isn't just about having different priorities; it can be a mistake many people make without realizing. However, the consequences of neglecting retirement planning can be severe. Financial mapping for retirement is not just advisable; it's essential. Here's why you should dedicate as much, if not more, time to planning your retirement as you do your next vacation.

Minimizing Taxes in Retirement

Monday, May 27th, 2024

Retirement planning isn't just about saving enough money; it's also about maximizing what you are able to keep. Taxes play a significant role in determining your net income during retirement. Minimizing taxes becomes a crucial aspect of retirement planning to ensure that your hard-earned savings stretch as far as possible. Let's explore some strategies for how to minimize taxes in retirement.

Long-Term Care Insurance: Is It Worth It?

Friday, May 10th, 2024

As life expectancy continues to increase, the need for extended care in later years becomes more likely. Long-term care insurance is a retirement planning solution to reduce the financial burden associated with extended care needs. However, the decision to invest in long-term care insurance warrants careful consideration. Is it truly worth it? Let's delve into this question

The Impact of Inflation on Your Retirement Savings

Friday, April 19th, 2024

Amid the retirement planning process, one crucial factor is often overlooked: inflation. This silent yet powerful force can significantly affect the purchasing power of your retirement savings over time, potentially altering the landscape of your golden years. Let's explore inflation and its potential impact on your retirement savings in the long run.

Healthcare Costs in Retirement: Planning for the Unpredictable

Monday, March 25th, 2024 marks a significant transition in life, a time when you trade the daily grind of work for the leisurely pursuits of the golden years. While this stage of life brings with it newfound freedom and opportunities, it also introduces a host of financial considerations, especially healthcare costs. As retirees, it's important to plan for the unpredictability of healthcare expenses to protect your well-being and financial security. At Retire Wise, we understand the importance of navigating these waters and help you ensure that your retirement years truly allow you to shine.

The Psychological Transition to Retirement

Thursday, March 14th, 2024

Retirement is far more than just a financial milestone. It’s a major time of transition that requires careful planning and consideration in all aspects of your life. Our comprehensive approach to retirement planning goes through simple financial planning, but it also encompasses the non-financial aspects of retirement, too. We believe that true fulfillment in retirement comes from balancing both your financial security and your personal well-being so you can truly enjoy your golden years.

Plan for Tax-Smart Retirement Income

Thursday, February 1st, 2024

In addition to extending the life of your retirement resources, careful tax planning may result in lower retirement taxes.

Even with Social Security, pensions, and other nonportfolio income, most retirees don't have enough invested to live on interest alone, so eventually they'll have to start selling off their investment holdings. Finding a solution to minimize the impact of taxes is difficult. You cannot spend every dollar that is lost to taxes, after all.

New Year, New Financial Beginnings: Financial Planning for the Year Ahead

Thursday, December 21st, 2023

As the new year unfolds, it's an opportune time to reflect on our financial health and set goals for the future. Financial planning is not just about managing money; it's about aligning your financial decisions with your life goals and values. Whether you're looking to save for retirement, reduce debt, or invest in your future, the new year is the perfect time to start.

Secure Act 2.0: Enhancing Retirement Security and Beyond

Friday, August 11th, 2023

Retirement planning is a crucial aspect of our financial journey, and staying informed about changes in legislation is essential for securing a stable future.
In the ever-evolving landscape of retirement planning and financial security, legislative changes play a crucial role in shaping the future for retirees and workers alike. One such significant development is the Secure Act 2.0, a follow-up to the original Secure Act, designed to further enhance retirement security and address the changing needs of individuals in the modern world. In this blog post, we'll delve into the key changes introduced by the Secure Act 2.0 and their potential impact on retirement planning


Stop The Fees From Eating Into Your Old 401K!

Saturday, July 1st, 2023

Unleash Your Old 401(k)/403(b), TSP, TRS or other past employer plans, roll it over and secure Your Financial Future!Unleash Your Old 401(k)/403(b), TSP, TRS or other past employer plans, roll it over and secure Your Financial Future!<  

How Do You Stack Up For Retirement?

Friday, June 2nd, 2023

How do you think you compare to others in retirement, and how do you feel about it? It's probably a good thing if you consider yourself to be ordinary.

The Debt Ceiling & You

Thursday, May 25th, 2023

The debt ceiling: What it is and what it means to you.

Three Wealth Planning Strategies for Every Stage of Life

Friday, May 5th, 2023

Wouldn't it be nice if retirement came with no muss and no fuss? Unfortunately, this is not always the case. Years of planning are frequently required. But, hopefully, this checklist will provide you with the crucial steps to follow at each period of your life, allowing you to retire when you choose and live the retirement of your dreams.

Take A Look At New RMD Rules

Friday, April 7th, 2023

For U.S. retirees, there used to be this iron-clad rule that you had to begin retirement account withdrawals at age 72. Under a new law passed last year called “SECURE 2.0”, the required minimum withdrawal (RMD) age has changed. You may have more time.

Financial planning and wellbeing

Wednesday, December 21st, 2022

The current cost of living crisis, against a backdrop of bleak economic predictions, is a significant cause for concern for millions of people.

Living standards have fallen at the steepest rates in 60 years, household incomes are expected to drop by 4.3% in 2022-2023, and people are being forced to reduce their spending.

With economic predictions over the next couple of years also looking grim, it’s easy to see why people feel powerless and frustrated.

Could financial planning hold the answer?

Are you wondering when you will be able to recoup your market losses?

Friday, November 18th, 2022

So far, 2022 has been an odd year.

Following the remarkable recovery from the initial pandemic lockdowns, investors experienced peak returns at the start of the year. However, as the economy and stock market continued to deteriorate, lethargy set in.

Investors are now wondering when the market will turn around so that they can recoup their losses. To begin, we must perform some relatively complex investment math to determine how much you must make up. Because, unfortunately, the loss-to-breakeven ratio is not a 1:1 ratio.

Second, digging deeper reveals that, depending on the economic environment, the time to recover losses similar to those we're experiencing today could range from 4.5 to 45 months.

The good news is that every bear market since 1968 has seen the market recover its losses and grow even more...

Income for Life - Retirement Planning

Thursday, September 29th, 2022

During periods of economic uncertainty, a paycheck is the ultimate antidote to stress. As long as you’re getting paid, you can buy groceries, pay the mortgage and—one of these days—catch a ball game.

Unless you’re fortunate enough to have a traditional pension, though, those paychecks stop when you retire. That’s unnerving even when times are good. When the stock market is unpredictable, interest rates are at an all-time low and the economy is reeling, the absence of a biweekly or monthly deposit in your bank account can lead to a lot of sleepless nights. That's why proper retirement planning is crucial.

Ways You May Be Leaving Money on the Table When You Retire

Tuesday, August 30th, 2022

Are you leaving money on the table when you retire? The answer is likely a resounding YES! (Whether you realize it or not.), And that is too bad, as you want and need every penny you can muster to fund a secure and happy retirement. So, it is important to take advantage of every opportunity to make smart use of your money.

Surprisingly though, many retirees and soon to be retirees overlook not just hundreds or even thousands of dollars, but hundreds of thousands in money that could be put toward retirement expenses. Here are tips to help you ensure you’re not falling into some of the typical traps that often lead to retirement downfall.