One of the key functions of retirement accounts is they “lock up” your money until you’re ready to retire. What happens if you need to access your money sooner? There are several reasons, and options, to gain access to your retirement funds early.

As with anything, you need to understand the consequences of pulling money out of your retirement accounts – early or otherwise. There may be options which may be better suited to your situation. Just make sure you know what you’re getting yourself into.

Retirement is an exciting phase of life where you can finally relax and enjoy the fruits of your labor. However, it's essential to maintain good health in retirement to make the most of it. As we age, our bodies undergo various changes, making it crucial to take extra care of our health.

In this article, we'll explore some tips for maintaining good health in retirement, including staying socially engaged, pursuing hobbies and interests, practicing mindfulness and relaxation techniques, regular check-ups with healthcare providers, and staying up to date on preventative health measures such as vaccines and screenings.

This post was last updated on 31 May, 2023, to reflect all updated information and best serve your needs.

It’s helpful to break your financial life into phases so you can focus on what’s most important right now. Understanding how decisions you make today affect what tomorrow looks like is vitally important. Keep in mind, these phases blend together and don’t always look the same as someone else’s journey.

Retiring early might sound nice, but not if you’re forced into it!  If you are forced to retire sooner than you planned, you’ll need to prepare yourself for your next chapter a bit abruptly.  You may not have saved as much money as you had hoped, or this may mean smaller dreams for you.

Regardless of what forced you to retire early, there are steps you can take to improve your financial position. Let’s talk about what you need to consider if you find yourself in this situation.

Setting your date to retire can be one of the most stressful decisions you’ll ever make. Maybe you’ve been anticipating this day for a long time - or dreading it. Retirement means different things to different people, but no matter what, you still need to prepare.

Let’s talk about the five things that you need to consider: what you are retiring to, current income versus retirement income, current expenses versus retirement expenses, having enough resources (money), and changes to your plan.

Earning a pension is a feat all to itself. Maintaining the security of your pension becomes even more important once you enter retirement. Luckily, there are programs like the Pension Benefit Guaranty Corporation (PBGC) looking out for your pension as well.

Although the name can be misleading, the PBGC is ran by the federal government to ensure retirement security for pensioners. There are laws governing what benefits you might receive if your covered pension fails. This could be another consideration for whether you should take a lump sum instead of a pension.

Kansas City is one of the most interesting and fulfilling places to live in the country. There are three big reasons why you should consider staying in Kansas City for retirement – the people, lifestyle, and affordable health care. Sure, there are many other places in the country to retire to, but there really is something special about Kansas City.

Where you stay or move in retirement is critical to many aspects in retirement planning. Actually, many important decisions in retirement revolve around physical location. You and your financial advisor need to plan out taxes, housing rates, medical care, and so many other variables tied to where you live.

Deciding how to spend down your life savings can be stressful. Working hard for decades to accumulate a nest egg is no easy feat. Spending money in retirement can be challenging because you don’t want to accidentally spend too much and mess things up.

Fortunately, you’re not the only one going through this, and you don’t have to do it alone. There are a multitude of options for what to do with the money you’ve worked hard for.

This post was last updated on April 28th, 2023, to reflect all updated information and best serve your needs. 

If you have a retirement account like a 401(k) or IRA, Required Minimum Distributions (RMDs) can be a real drag in retirement. Knowing if RMDs will affect your retirement is critical so you can make the right adjustments now and moving forward.

This post was last updated on April 29th, 2023, to reflect all updated information and best serve your needs.

If times are tough, a hardship withdrawal from your 401k might sound like a good solution. Hold your thoughts and do lots of research first. There are irreversible consequences to taking a hardship withdrawal for emergency situations.

There may be several points in your life that are ideal to retire, but when is best for you? As you approach retirement, you might be wondering, “Is there an ideal age to retire?” Of course, this depends on your unique personal and financial situation.

It’s understandably difficult to pinpoint exactly what retirement will look like. Did you know five years ago exactly what your life would look like today? Yeah, we didn’t either.

Roth conversions are one of the most powerful methods for maximizing long-term tax savings. If you believe that a Roth conversion might be something you could benefit from, the next question is how much to convert. The right amount will vary based on your situation.

Once you’ve decided to implement a Roth conversion strategy, you’ll want to look at areas of opportunity. We usually look at projected cash flows throughout retirement and attempt to find any dips in income. Dips in income may be opportunities for additional Roth conversions.

Can you still retire in a recession or “down” market? Many have done it, but there’s so much to think about when things don’t feel very optimistic. Don’t worry.

There are lots of things you can’t control like the markets and when recessions will occur. Many other things you can. Let’s look at what needs to happen to successfully retire in a down market.

This post was last updated on December 30, 2022, to reflect all updated information and best serve your needs.

Deciding when to draw social security benefits is one of the most important decisions you will make as a retiree.  Careful consideration of your specific situation and goals is a must.  Don’t wait until you’re eligible to make these important decisions.

In today’s day and age of the internet, you can find just about anything in no time. Looking for a restaurant nearby? Go to the internet. Need a place to get a haircut? Go to the internet. Looking for background information on a financial advisor? Yep, go to the internet.

It amazes me how we found things before we had the internet. I guess we just asked for referrals from our friends, looked things up in the phone book or drove around until we found out what we were looking for…the indignity.

Your medical care is one of the most important decisions you need to make as a retiree. Getting these top 5 Medicare considerations right could keep you from making a huge mistake. Medicare is a major part of the retiree healthcare equation.

Planning around Medicare is essential for your financial planner or advisor to consider too. Your decisions on medical care can have significant impacts on your retirement expenses.

You’ve put your time in, and now it’s time to enjoy the fruits of your labor. Retirement is all about taking it easy and living life on your terms. No more keeping a tight schedule, no more putting those celebrations and life experiences off until later. Now is your time. 

If this is how you picture your retirement, you’ve clearly got good goals in mind and you know how you plan to spend that time. Without a significant amount of planning, however, you may find it somewhat challenging to achieve your ideal retirement. Here’s a guide to ensuring you have that happy and healthy retirement you’ve worked so hard for all these years.

Have you recently come into a $50,000 windfall, such as an inheritance? You may be tempted to buy a new car or take your family and friends on a dream vacation. 

But before you do, stop and consider all of your options — including saving the money...who would've thought a financial advisor would recommend this. 😁Developing a sound financial strategy is a good way to make your money grow.

With so many wealth management firms competing for a client’s favor and attention, you might be lead to believe that picking one is as easy as a walk in the park. Sadly, that's not the case. It's great that people have options nowadays, but the sudden increase in numbers also makes finding the right firm for your specific financial situation more challenging.

If you're at a point where your portfolio has become too large to manage on your own, then it's high time to call in the experts. The right wealth manager will help you identify solid investment choices and map out a strategy that will not only let you achieve your financial goals but surpass them, if possible.

With student loan debt, it can seem like your payments will last forever. But, there are ways to make paying off your student loans much easier. Whether you’re in the thick of paying them off, considering taking out student loans, or somewhere in the middle, knowing the right strategies to use will save you a lot of money and stress when it comes to paying off your student loans faster.

As the second highest consumer debt, the average student loan balance tops $37,000 for the Class of 2016. If most of your paycheck goes to pay student loans because you haven’t yet met your earning potential, you can feel trapped.  There is hope, and you can get rid of your debt faster by upgrading your student loan repayment options.