Why We Don't Use Standardized Tests

on October 18, 2018 |By Steve Musick | Retirement Planning
A new client visited us recently. Some lifelong friends, who are long-term clients of our firm, had referred them. The new clients had recently gone to a seminar and participated in an online planning process. It's now very popular for firms to have people take “standardized tests” to determine their planning parameters. The results painted a particularly bleak future for them, including needing to save more money each month than anyone reasonably could in today’s world or suffer the alternative of having to continue to work until they were 76 years old assuming they could keep their jobs, skills, and health for that long. Sometimes I think the firms that do this really believe that fear is a good selling strategy, but it created a perfect time for them to come in for a conversation. We sat down and flipped through their sixteen-page report that had been created from the standardized tests.
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Is the “4% Rule” a Realistic Retirement Strategy?

on September 20, 2018 |By Amy Bertle | Retirement Planning
The mass media and retirement 101 seminars continue to deliver a message to retirees that spending 4% of one’s investment assets per year is the “safe” withdrawal rate and that withdrawing more than 4% can be problematic, potentially leaving the retiree without any investment assets in the later years of life. This strategy has become known as the “4% Rule”.  
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Retirement With Healthcare Nimbility

on September 10, 2018 |By Steve Musick | Retirement Planning
This is the last of a three-part series on retiring with nimbility. So far, we've discussed being Mentally Nimble and Financially Nimble. Today we are going to conquer the fear of healthcare.   Recent research has determined the most significant expense facing this retiring generation - healthcare. The average cost for healthcare is now $22,000 per year per family and those costs are actually higher for retirees. Building strategies to manage through this reality is now a financial planning task that we embrace.  
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Retirement With Financial Nimbility

on July 02, 2018 |By Steve Musick | Retirement Planning
In the first part of this series on nimbility, we wrote about Mental Nimbility. Today we are going to address Financial Nimbility.   One of our tasks as an advisory team is to stage wealth. We have never sat down with clients and created sectors from their finances to determine which one to liquidate first, and second, and so on. Nonetheless, we do have an internal process to determine the most efficient method for each client to access their wealth throughout each stage of life.  
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Retirement With Mental Nimbility

on July 02, 2018 |By Steve Musick | Retirement Planning
People need to have the ability to stay nimble in retirement-nimbility! This is the first article in a three-series post to discuss this topic.   Many of the people we serve have spoken and unspoken worries about Alzheimer’s and other related mental illnesses. They worry about losing it... whatever “it” might be. Elaine and I are in our early 60’s, but we have already given our children permission to confront either of us if they get any inkling that we are “losing it.” It can be very tough to see yourself beginning to decline mentally.  
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