At Integrated Wealth Management, we’re financial advisors focused on retirement planning and today we’re coming to you from the beach. While many of our current clients here in Rehoboth Beach are already retired, many of our readers are about 10-15 years away from putting in their final notice. 

There’s no question, medical expenses must be a part of your retirement plan. But how can we proactively manage expenses without a crystal ball showing us what’s ahead? While we can’t be certain of our needs, the data shows planning ahead is the smart thing to do.

Tax-advantaged accounts, like a 529 Plan, are a great way to keep more of your money by lowering the total you owe the government in taxes each year. 529 Plans are state sponsored savings accounts where invested funds can be used for qualified education expenses — think tuition, room and board, and books. 

The Dow Jones, Nasdaq Composite Index, and the S&P 500 are all stock market indices, but do you know how they differ and what they tell us as investors? Each index measures the performance of a collection of stocks, providing a unique perspective into stock market performance.

The uncertainty that comes with the transition to retirement is exciting but can also raise cause for concern. We strive to provide the education necessary for our clients to offset the stress so they can focus on the excitement of entering the next chapter of their lives. 

Ready to make a move in retirement? Maybe the decision was sparked by your new ability to work from home, or because no longer working means fewer ties to your current location. Whenever you’re considering moving, there are factors beyond the perks of the new location to consider.

Just like a retirement plan, we believe everyone should have an estate plan. Before we go any further we want to call out the reality of estate planning — estate planning is beneficial for everyone.

It’s completely normal to face boredom and mixed emotions as you head into retirement. You’ve likely been patiently waiting for the day to arrive, but it’s still a big lifestyle change, no matter how prepared you are.

We all know we should prioritize saving for retirement, and the earlier you start, the better. But if your retirement strategy ends there, you’re likely left with many questions.

• Where exactly should I save for retirement and why not just rely on my 401(k)?

• Are there downfalls of “Do It Yourself” (DIY) retirement plans?

• How can a Financial Advisor help when life doesn’t go according to plan?

A multitude of changes go into effect with each new calendar year when it comes to tax law revisions and government programming. Changes to age-related allowances, Social Security benefits and Medicare are where retirees are most frequently impacted. Let’s look at the changes impacting those 50 and older in 2023.