When it comes time to maximizing your Social Security strategy, there can be several considerations to make, some obvious and others less so.
5 Years to Retirement Age? Here’s 3 Things to Consider Now
Are you approaching retirement in the next 5 years? There are three important updates on the SECURE Act 2.0 that you should know.
SECURE Act 2.0 | What This Means for Your Retirement Savings
The SECURE Act 2.0 was signed into law by President Biden on December 29, 2022. We’ve briefly summarized the most important provisions.
Financial Planning for Military, Veterans, and Federal Employees or Retirees
This Veterans Day, Client Advisor Mark Herman discusses the financial and retirement benefits offered to military service members.
Social Security Strategies for Retirement, Survivor, and Disability Benefits
When it comes time to evaluating and selecting an optimal social security collecting strategy, there are a few things to consider.
Celebrating National 401(k) Day with Mission Wealth
While 401(k)s are not the most exciting investment vehicle, they are one of the most effective. On National 401(k) Day, we break down why.
What is the Purpose of Money? Exploring the Longevity Effect
Money is an extremely important part of society that has always been surrounded by questions, myths, and misconceptions. It can be difficult to know how money works, who should have it and what you should do with it. This article will explore the longevity effect of having a lot of money and how it can affect your life.
How Does Social Security Best Support Your Retirement Plan?
One of the most important retirement plan questions we help our clients answer is, “How can I best use my savings and retirement money?”. We present three ways to incorporate more purpose into your financial and retirement plan.
How to Put Purpose in Your Financial Planning
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.
The Future of Social Security
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.
10 Years to Retirement Age – Top Five Retirement Considerations
Do you have more than 10 years to go until you retire? We’ve put together our top five things to consider prior to retirement so that your advanced planning can go a long way.
How to Convert Savings to Retirement Income
Ensuring adequate and reliable retirement income can be a common challenge. In this article we explore some key considerations if you’re looking to convert savings into retirement income. Read the article here.
Investment Planning Throughout Retirement
Investment planning throughout retirement is not the same as investing for retirement and, in many ways, is more complicated. This article discusses some important factors that you may wish to consider when planning your retirement investments.
4 Things to Consider Before You Relocate for Retirement
It can be difficult to decide whether or not to relocate during retirement. This article includes some things to consider, whether you choose to stay where you are now, or opt to relocate to a new dream retirement destination.
Saving for Retirement and College at the Same Time
You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? In this article, Jeff Avila explains how to reach both goals if you make some smart choices now.
Rethinking Your Pandemic Charitable Giving Strategy
The pandemic has created economic and health care challenges that continue to stretch our resources. But how does all of this affect how we give charitably? We’ve highlighted our top 4 tips for giving during a pandemic.
Estate Planning 101: Planning, Preparation and Process
Many of our clients have questions in regards to settling an estate after a loved one has passed. In this article, client Advisor Amanda Thomas shares her Estate Planning journey, discussing how she settled a family member’s estate after they passed. Click here to read more.
The Mission Wealth Social Values Portfolio: SRI, ESG and Impact Investing
What is SRI, ESG and Impact investing? In this video, Chief Investment Officer Kieran Osborne describes how the Social Values Portfolio can align and support your values with your investments, all while meeting your long-term financial goals. Click here to learn more.
Should I Start a Business After I Retire?
To start a business after you retire may seem daunting, but there could be more motivation to take action than you might think. The truth is that there’s never a ‘perfect’ time to start a business, so we’ve put together some reasons why a retirement business could be the answer.
Paying the Bills During a Pandemic
Right now millions of Americans are out of work. Read about some smart ways to withdraw funds if they are needed during the coronavirus pandemic.
Designing your Retirement Strategy in a Pandemic
Retirement plans change like your life does. Read about some ways that you can design your retirement plan in a way that best fits your future, and that considers any recent changes.
Top Habits for a Successful Retirement – Take the Spending Quiz
We all want a fulfilling retirement experience, but how we achieve that is not always clear. This article shows you the most common habits upheld by successful retirees, and how they aligned their goals for health and security.
Mission Wealth Retirement Guide
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.
Retirement Plans for Small Businesses
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.
How to Increase Your Generosity During Retirement
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.
Wills: The Cornerstone of Your Estate Plan
If you care about what happens to your money, home, and other property after you die, you need to do some estate planning. There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital.
How to Phase into Retirement and Take it For a Test Drive
There are many reasons why people who could retire are hesitant to do so. Some people think they need to wait until they’re 65 or older. Some are worried about running out of money. Many parents want to keep supporting their children through some major life transition, like college, marriage, or buying a first home.
What Is Normal? The Facts and Figures for Retirement Success
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.
How to Ensure Your Life Wishes Are Granted Through Effective Estate Planning
Legacy planning is often the last piece folks tackle in their financial planning, because it’s the least appealing to think about. But if you put off your legacy planning too long, you run a real risk of leaving behind nothing but headaches for your loved ones.
The Pros and Cons of Retiring Early
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.
Are You Ready to Retire?
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.
3 Ways Grandparents Can Help Grandchildren with College Costs
Helping to pay for a grandchild’s college education can bring great personal satisfaction and is a smart way for grandparents to pass on wealth without having to pay gift and estate taxes. Some ways to accomplish this goal include cash gifting, paying tuition directly to the college, or establishing a 529 plan.
Master the “Art” of Retirement
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 …
5 Strategies to Budget for Retirement
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.
10 Steps to Successful Retirement Planning
We’ve outlined 10 steps that will help you wrap your mind around the planning necessary to enter and navigate retirement successfully.
The New Way to Leave a Lasting Legacy
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, …
Build Your Intentional Retirement Strategy
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 …
Three Stages of Retirement Account Withdrawals
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 …