Retirement is one of those things that feels like it's a long way off, right up until it's not. Nonetheless, being proactive and having a plan can make all the difference when it comes to living out the retirement you’ve always imagined. Start gathering a pre-retirement checklist to help you create goals, determine a realistic timeline, and keep your finances front of mind.
A fiduciary is a person that acts on behalf of another person while putting that person’s needs ahead of their own. Burt Hutchinson, CPA, CFP®, Founder and Wealth Advisor, and his team are fiduciaries by nature. It’s who we are. Our own ethical standards drive us to produce the best results for each and every client.
You’ve worked hard to save and make smart investment choices. Your goal is a smooth transition into retirement with peace of mind about your financial future. But those years of preparation can still leave you questioning exactly how to pull it off. Let’s dig into the ins and outs of social security as a retirement benefit and why deferring may be in your best interest.
Estate planning is a broad topic referring to the effort you put into ensuring your finances, assets, and family are cared for in accordance with your wishes when you’re no longer around. The goals for many include: ensuring assets are transferred to the appropriate person, minimizing stress on loved ones, and reducing costs associated with handling your affairs once you’ve passed.
Is Delaware tax-friendly to retirees? Whether you’re determining where you want to land once retired, you’re relocating to our great state, or you’re here and plan to stay — you know taxation differs from state to state. So how does Delaware rank when it comes to taxes and retirement?
Well you’ll be happy to learn Delaware is often recognized as one of the most tax-friendly states in the US.
We’re almost halfway through 2022 — are you on track to reach the goals you set for yourself at the beginning of the year? Conducting a mid-year self-review is a great way to reprioritize what's most important to us. When it comes to staying on track financially and moving the dial towards the retirement life of your dreams — we’ve gathered 5 points to consider in your mid-year review.
If you're nearing retirement, and have a pension, you’ve contemplated the lump sum payout versus the monthly payment option. While pension plans aren’t as widely offered as they once were, they’re certainly still around. Whether you’re a State of Delaware employee, work for a local municipality, in education, belong to a union, or are one of the few with a private sector pension plan — you’ll likely have a choice to make when it comes to receiving your pension benefits.
As all the news stories and headlines warned us, inflation is settling in. Rising costs at the pump or in grocery stores are the doom and gloom themes of inflation-related stories. While we’re all feeling the effects at the register and the pump, how inflation might impact you is the real question. If you’re retired or plan to retire soon, understanding how inflation can impact a retirement plan is important.
Even prepared retirees often reach a point where they think, ‘I wish I would have started a bit earlier’, or ‘If only I had contributed a little more back when I first started working’. It’s hard not to have these sorts of thoughts once you near retirement and see the power time has over your retirement plan.
It feels like we just wrapped up the 2021 tax season and here we are, talking about next year! Too soon? Not really, if you want to maximize your 2022 tax return. We’re not asking for documents, statements, or receipts just yet. But this is a friendly reminder that we are already three months into the 2022 tax year.
If you own income-generating real estate, and have ever thought about selling it, taxes likely crossed your mind. Every tax-conscious real estate investor should familiarize themselves with a 1031 Exchange. A 1031 Exchange is a common way to defer paying capital gains tax in the year of the sale if the funds are rolled into the purchase of a different property of the same type.
Life insurance — you know you need it, but deciding what kind and how much isn’t easy. You want to protect your family and ensure those closest to you can care for themselves financially when you’re no longer here. Between funeral costs and lost income, life insurance can remove financial burdens that may otherwise follow a passing.
At Integrated Wealth Management, we’re a small team focused on accumulating measurable wealth for our clients while building real relationships. Our level of care and industry expertise set us apart from financial advisors driven by sales goals and commission rates. We’re proud that our mantra has resonated with many, allowing us to establish a second location in Rehoboth Beach — making 2 locations to better serve Delaware retirees.
Consistency is imperative to reaching your retirement goals. Anyone who’s had a savings account remembers those first interest payments — it may have been pennies, but it was there. Remaining consistent is often linked to sacrifice and something tough to achieve. But when you think about the interest your savings account receives with no effort, we begin to realize that consistency, at the root, is the easiest way to reach financial goals.
It’s no longer a secret — Delaware is a magnet for retirees. They’re drawn to the dunes, captivated by our quaint coastal towns, and attracted to Delaware’s low cost of living. Add in its proximity to neighboring metropolitan areas, cultural opportunities, and all Mother Nature has to offer — it’s no wonder communities like Rehoboth Beach are growing.
If you regularly consider questions like:
Will I be able to retire on my timeline?
Will I even have enough to retire?
How exactly will I withdraw money from my retirement accounts?
Then you’re likely a pre-retiree. Most people have some form of these same questions when they first meet with our wealth management advisors. It’s not just about age anymore, most find themselves desiring to retire in about 10 years when they first meet with us.
Are you on the home stretch? Every day you’re closing the gap between now and retirement day. This is exciting — after all your working years — it’s finally time to live the retirement life that's been filling your daydreams. But all excitement aside, we want to help ensure you’re ready to support yourself financially for the road ahead
