The Bureau of Labor Statistics just reported a whopping 9.1% year-over-year increase in the inflation rate – This is the highest in forty years and many economists suggest that inflation will get worse before it starts to get better. To put a 9.1% inflation rate in perspective, one million dollars today has only $909,000 worth of purchasing power compared to just one year ago. Americans are facing higher prices for food, fuel, and housing and...
An early retirement is certainly achievable, but requires careful planning, especially when it comes to your healthcare. This blog will enlighten you on the different healthcare options available for early retirees, with a focus on the Marketplace.
At Peterson Wealth Advisors, we manage the retirements of several retired commercial pilots. As I have discussed these pilots’ careers with them, one of the retired pilots explained that being a pilot can be described as, “hours and hours of boredom punctuated by moments of sheer terror”. Although these moments of sheer terror are rare, pilots will spend countless hours of training throughout their careers preparing for that moment when their flight plan might not...
Creating a retirement plan can be a daunting task. At Peterson Wealth Advisors, we use our propriety process, the Perennial Income Model™, which outlines three ‘building blocks’ to a retirement plan. Whether you use the Perennial Income Model or another type of retirement plan, these building blocks will make sure you are on the right track to a successful retirement. The three building blocks to a retirement plan are income and investments, taxes, and legacy...
“You must pay taxes. But there is no law that says you gotta leave a tip.” -Morgan Stanley How can any retiree make a good decision about reducing taxes in retirement, or any financial professional recommend a proper course of action, without first mapping out, and projecting a future income stream? The answer is . . . they can’t. Retirees often end up making only short-term, immediate tax-saving decisions, while missing out on more advantageous...
Daniel Ruske |
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We have found that many individuals may not know what goes into calculating their yearly income taxes and why they may or may not get a tax refund. This article will serve as a simple reminder of the fundamental components that determine your tax refund.
Scott Peterson |
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Today’s retirees are healthier, wealthier, happier, safer, freer, more educated, more equal, more charitable, and more technologically advanced than any previous generation. Ironically, the wonderful advancements that current retirees are blessed with are also the root of the problems that retirees will face.
We often hear the following questions from people we work with: What will happen with my estate upon my death? Who will look after my spouse and help them make good financial decisions when I am gone? If either my spouse or I become disabled, who will look after us and who will help us to not make poor financial decisions as we age? When we pass away, what will happen to our hard-earned savings...
Scott Peterson |
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Once in a very great while, there comes a year in the economy and the markets that serves as a tutorial—in effect, an advanced class in the principles of successful long-term, goal-focused investing. 2020 was such a year. On December 31, 2019, the Standard & Poor’s 500-Stock Index closed at 3,230.78. This past New Year’s Eve, it closed at 3756.07 —15.76% higher. With reinvested dividends, the total return of the S&P 500 was 17.88% From...
A fiduciary is a person or organization that acts on behalf of another person or persons, putting their client’s interest above their own in all instances. Being a fiduciary requires being bound, both legally and ethically, to act in their client’s best interest. In essence, they are the guardians of their client’s money. Commissioned salespeople are not considered fiduciaries because they are representing a product or a company, not the individual to whom they are...
Bob and Patricia are 60 years old and would love to retire as soon as possible. It's not uncommon to meet people like Bob and Patricia who have been saving diligently, setting money aside into their 401(k)s, making wise investments, and living below their means with a desire to transition into retirement as early as possible. Unfortunately, health insurance for them to retire before age 65 can now cost as much as $2,000 per month...