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How to Efficiently Pass Your Assets to The Next Generation
Passing on your estate to your heirs is a significant concern for many people, especially those who have spent a lifetime accumulating assets and wealth. However, without proper planning, a...
Longevity Risk in Retirement
Retirement planning is a crucial aspect of financial management. One of the key risks that retirees face is longevity risk, which refers to the possibility of outliving one's retirement savings. As...
Retirement Income Options From Your Home
Retirement is a time when many people rely on their savings and investments to provide them with income. However, for those who own their home, it can also be an opportunity to utilize the value of...
Paying for Home Health Care
Home health care can be a valuable service for individuals who require long-term care or assistance with daily living activities. However, it can also be expensive, and paying for it can be...
Top Ten Stressors in Retirement
Retirement can be a fulfilling but also stressful period in one's life. Here are the top ten stressors in retirement: Financial Insecurity 1. Insufficient Savings: Many retirees worry about whether...
Why Use Annuities in Retirement?
In my 30-plus years in the retirement planning field, I have changed my opinion on how to best utilize resources in retirement. In the 90s, when all the market wanted to do was go up, having a...
The 7 Most Important Retirement Budget Areas
Retirement can be one of the most rewarding stages of life, but it can also be a time of financial uncertainty. When you retire, you no longer have a steady stream of income from your job, and you...
A Holistic Retirement Strategy: Beyond The 3- Legged Stool
Traditional retirement planning often revolves around the "3-legged stool" concept: Social Security, pensions, and personal savings. While this approach has served retirees for generations, it is...
7 Tips to Avoid Running Out of Money
One of the biggest concerns for many retirees is the fear of running out of money. After all, retirement can last for decades, and it can be difficult to predict how much money you will need during...
Understanding the Six Options for Long-Term Care Insurance
Long-term care insurance is a type of insurance that provides coverage for the costs associated with long-term care. This can include nursing home care, assisted living, and in-home care. It can...
The Trusted Choice: Steve Gaito, Your Top CFP® in Western NC
When it comes to managing your finances, it's essential to work with a trustworthy and knowledgeable financial advisor who can provide expert advice and guidance. In Western NC, standout advisor...
Navigating Rising Taxes in Retirement: Protecting Your Estate
Retirement is a time to enjoy the fruits of your labor, bask in the rewards of a life well-lived, and spend quality time with loved ones. However, as you plan for your golden years, there’s an often-overlooked factor that can significantly impact your legacy and financial security: rising taxes. Fortunately, estate planning offers a powerful tool to protect your estate from the impact of escalating taxes in retirement.
Watch Your Blind Spot
It’s a scenario we’ve all experienced: cruising down the highway, preparing to change lanes, only to be startled by the blare of a horn. Yes, there was a car lurking in your blind spot. Despite being a careful driver who adheres to traffic rules, the fact remains that just because you can’t see something doesn’t mean it isn’t there.
Happiness in Retirement
Recently, I came across a copy of a Wall Street Journal article from July 27th, 2005 titled “The Secret to a Happier Retirement: Friends, Neighbors, and a Fixed Annuity.” Interestingly, I distinctly remember this article from my days managing money. Back then, its message didn’t quite align with my perception of retirement. However, as I’ve aged, and particularly as I’ve engaged with people about their retirement plans over the years, the article has resonated with me more deeply.
Financial Planning During The Pandemic
Since the S&P 500 reached a record high on February 19th, we’ve witnessed a significant downturn over the past two months. Despite some recovery, the long-term impact on the market remains uncertain, given the 29% decline in second-quarter US GDP and historic levels of unemployment reminiscent of the Great Depression.
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