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How to Put Purpose in Your Financial Planning

In Retirement, Wealth Management by Mission Wealth

One of the most important questions we help our clients answer is, “What’s the money for?” After all, if the purpose of your financial plan was just to keep growing your nest egg, then the best financial strategy would be to keep working and growing that nest egg as long as you physically could. Check out this article as we discuss three ways you can start planning to build a sense of purpose in your financial plan.

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The Future of Social Security

In Retirement, Wealth Management by Greg Smith

Social Security is a pay-as-you-go system, which means today’s workers are paying taxes for the benefits received by today’s retirees. However, demographic trends such as lower birth rates, higher retirement rates, and longer life spans are causing long-run fiscal challenges. Read this article to learn what you should know about the program’s future.

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Mission Wealth Retirement Guide

In Retirement by Mission Wealth

Mission Wealth can provide you with the information you need to help grow your wealth and protect your assets for the future. In this guide, we’ll take you through some retirement planning considerations. We find it helpful to do so in 3 stages.

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Retirement Plans for Small Businesses

In Estate Planning, Retirement, Wealth Management by Mission Wealth

As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed a deduction for contributions you make to an employer-sponsored retirement plan. In return, however, you’re required to include certain employees in the plan, and to give a portion of the contributions you make to those participating employees. Nevertheless, a retirement plan can provide you with a tax-advantaged method to save funds for your own retirement, while providing your employees with a powerful and appreciated benefit.

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How to Increase Your Generosity During Retirement

In Retirement, Wealth Management by Mission Wealth

How are you going to get the best, most fulfilling life possible with the money you have once you retire? Many studies have shown that retirees who spend their time and money on experiences are much happier than those who just buy stuff. Charitable giving can be a particularly meaningful way to keep yourself active and put your assets to good use. Just as long as you don’t overdo it. If you’re feeling an increased desire to give back now that you’ve retired, here are some tips on balancing your good intentions with what’s best for you and your family.

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What Is Normal? The Facts and Figures for Retirement Success

In Investments, Retirement by Brad Stark

Our goal is to help guide clients in making evidence-based financial decisions to support themselves, their family and their charitable / legacy intents to obtain retirement success. Whenever markets trade irrationally, the question becomes, “Is this normal, a new normal, or the start of something that could be either good or bad?” While history is no guarantee of the future, it can provide good context for a discussion on what is considered “normal”. Mission Wealth has been providing financial advice for over two decades. During that time, we have identified a handful of investment “requirements” that have helped our clients retire – and stay retired.

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The Pros and Cons of Retiring Early

In Retirement by Mission Wealth

A popular online movement wants to make 40 the new 65. FIRE stands for Financial Independence Retire Early. The idea is that by working as hard as you can and saving as much as you can as soon as you enter the workforce, you can become financially independent and retire well before the traditional retirement age. It’s an appealing idea in theory, but in practice there are some major pros and cons to consider.

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Are You Ready to Retire?

In Retirement by Mission Wealth

There’s a pretty good chance that your parents and grandparents retired just because they turned 65. Today’s retirement is a bit more complicated than that. While age is still an important factor, your ability to connect your financial resources to your lifestyle goals is what will truly determine if you’re ready to retire.

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Master the “Art” of Retirement

In Retirement by Mission Wealth

 Relaxing and sinking your toes in the sand on the beach. Your favorite spot on the sofa in the family room. No more alarm clocks because you want to wake up when you feel like it. No urgent emails to respond to. Doing what you want when you want. Planning nothing if that’s how you feel that day. This scenario …

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5 Strategies to Budget for Retirement

In Retirement, Wealth Management by Brad Stark

Over the years we have worked closely with some of our clients to help them create financial plans that meet their needs and in doing so we have developed many budgets that meet clients’ short and long-term retirement goals. What we have found over time is that there are very few people that already have or follow a retirement budget.

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The New Way to Leave a Lasting Legacy

In Estate Planning, Retirement by Seth Streeter

 Many families today are looking for planning and legacy tools to supplement their traditional estate planning documents. Beyond making sure taxes are paid and distributions transfer smoothly, families care about sharing values and carrying forward a lasting legacy.   Create a family mission statement Although most parents tend to have implicit goals for their children — financial, professional, spiritual, physical, …

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Build Your Intentional Retirement Strategy

In Retirement by Seth Streeter

 Author: Seth Streeter, MS, CFP® CEO at Mission Wealth Retirement decisions today are far from a straight line equation. There are many factors that need to be considered as you direct your attention, energy, time and resources in a way that will lead you to your future desired lifestyle. Finances and health status are, of course, critical components, but other questions need …

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Three Stages of Retirement Account Withdrawals

In Retirement, Taxes, Wealth Management by Brad Stark

 By Brad Stark, MS, CFP® Co-Founder and Chief Compliance Officer   Whenever someone pulls money out of a retirement account (e.g., IRA, 401(k), etc.), they could find themselves subject to three possible tax situations and generally facing one of three needs. There are different rules for those under age 59 ½, over 70 ½ and those in between. And when it …