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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Retirement Planning Now Compared to the Last Generation

on April 26, 2018 |By Steve Musick | Retirement Planning
At the risk of inducing a collective yawn, I am going to reminisce a little.   Forty years ago, expectations were to develop a craft, perfect a skill, or learn a profession. Workers then applied that knowledge to business and industry in exchange for salaries and benefits. They exchanged work for pay, insurance and a large staple of retirement in the form of guaranteed pension income for the rest of their lives. They would also receive health care for life as a supplement to Social Security and Medicare. Social Security would be perhaps 35% percent of a retirees income with pensions contributing about 40%. The balance would be from personal investment income.
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Retirement - Do You Need to Know It All Right Now?

on March 21, 2018 |By Jarrod Musick | Retirement Planning
I recently read about an information concept called “Just-in-time” versus “Just-in-case.” Essentially, this is the difference between reading everything about a subject right now versus only searching for the answer when a specific question comes up. When thinking about your own retirement, the inclination can be to try and learn or retain everything “just in case” you need to know it at some point. While this can increase your confidence that you have a good plan in place, it can also turn into a demanding task that never ends. With changing tax laws, retirement contribution amounts and rules, the complex Social Security calculations, Medicare benefits and policies, varying interest rates, etc. the list seems never-ending. Keeping entirely up to date on everything all the time can be daunting.
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Estate Planning Just Got Interesting

on March 16, 2018 |By Steve Musick | Retirement Planning
The new tax law opens up a window for planning.  It is a window that is open as long as the law is effective. Tax laws are still governed by political policies and are therefore subject to change as the political construction of Congress changes. So for now, the window is open. The amount of capital that can be transferred from one generation to another has increased substantially. Statistics now show that less than 1% of American households will file an estate tax return. The amount that can be transferred now exceeds $20M per couple. This means that many family farms and businesses can stay in families without having to pay estate taxes. Significant family wealth can continue to be handed down from one generation to another without jumping through the maze of taxation.
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