Warm holiday greetings to clients and friends in our Rehoboth Beach, Wilmington, and Broader Delaware communities. As 2023 comes to a close, we wanted to not only wish you a happy holiday season but also say thank you for being here.
Protecting Your Loved Ones: The Importance of Beneficiary Designations and Life Insurance
Did you list your spouse as your beneficiary when you first signed up for a 401(k) at work? Maybe you have a child listed as a Payable on Death recipient on your bank account. Did you make these decisions back when your kids were in diapers? Beneficiary designations and life insurance policies are simple ways to protect those that mean the most to you.
Steer Clear of These 3 Retirement Pitfalls
Retirement is a golden opportunity to kick back, relax, and enjoy the fruits of your lifelong labor. But be careful, there are certain financial missteps known to derail retirement bliss. In this article, we’re highlighting three common retirement pitfalls so you can steer clear and proactively take steps to secure a more worry-free future.
Navigating the Waters of Medicare: A Comprehensive Guide
Medicare, a cornerstone of American healthcare for seniors, has been a topic of discussion, and sometimes confusion since its inception. Entering retirement is comparable to launching a ship into new waters. With the promise of adventure and relaxation also comes the responsibility of ensuring that the vessel—your health—is well taken care of. For most Americans, Medicare serves as the primary anchor once retired.
Navigating the Three Stages of Retirement Planning: Crafting Your Coastal Delaware Dream
It’s a Fact, Your Retirement Plan Won’t Look Like Your Parents
Long gone are the days of comfortable living off of a pension and Social Security benefits. The retirement landscape has changed from when our parents were planning for retirement. Today’s retirees often contribute to a retirement plan for many years, and unfortunately, many will find themselves needing to continue working to make ends meat.
Your Local Fee-Only Financial Advisor in Wilmington & Rehoboth Beach, Delaware
Integrated Wealth Management is a financial advisory firm with offices in Wilmington and Rehoboth Beach, Delaware. As fee-only financial advisors, we don’t charge a commission, we charge a fee in exchange for our services. Our clients have come to appreciate this simple business model due to the transparent nature and added assurance that our recommendations are not commission driven.
Maximizing Social Security Benefits: Calculating the Impact of Delaying Collection
While you are eligible to begin collecting Social Security at the age of 62, doing so will result in a reduced monthly payment, compared to waiting until your full retirement age. Every month you delay collecting Social Security, your monthly payment increases, topping out when you reach age 70. Patience is key to many good things in life, let’s do the math to see if it’s worth the wait when it comes to collecting Social Security.
Tips for Knocking out Your Mortgage Before Retirement
As you approach your golden years, the prospect of retiring without a mortgage payment can significantly enhance your financial freedom and peace of mind. Clearing your mortgage before retirement reduces financial strain and allows you to allocate your funds to something likely a bit more fulfilling.
Delaware Pre-Retirees — Learn How We Put You In the Driver's Seat in Choosing a Wealth Management Financial Advisor
People between the ages of 50-55 often find it's crucial to start planning for their retirement and securing a financial future — their primary goal is to retire in about 10 years with confidence. Delaware residents have the advantage of accessing professional wealth management services provided by our offices in Wilmington and Rehoboth Beach.
The Fundamentals of Building Wealth
The 411 on Spousal Social Security Benefits
Determining when to collect Social Security benefits is tough, and to make matters a bit more complex, you must consider Social Security spousal benefits. Social Security spousal benefits can positively impact the lower income earner — whether currently married or divorced (under specific circumstances).
Bring Peace of Mind into Your Retirement Plan
Peace of Mind (noun) definition: the absence of mental stress or anxiety. We talk about peace of mind a lot on our blog, it’s time we dig into exactly what we mean. While reaching your retirement goals can take focus and dedication, we don’t think it should be stressful or cause you to feel anxious.
Move Over Baby Boomers, Gen X is Preparing to Retire
Retiring in Delaware Vs Maryland, Pennsylvania, or New Jersey
The Benefits of a Fiduciary Fee-Only Financial Advisor
Transparency is how we build trust at Integrated Wealth Management. We want everyone that walks through our doors to feel like they can lean on our years of knowledge and industry expertise. As fiduciaries, we’re obligated to put your needs ahead of our own and by choosing to be a fee-only firm, the cost of our services is always straight forward.
What is the Best Month to Retire?
While you may have a general retirement timeline in mind, have you nailed down an exact date? Some have their mind set on retiring by their birthday, when it’s time for summer vacation, or at Christmas time. Others may still be thinking about what month makes the most sense in terms of finances, the seasons, work, or other personal preferences.
The Social Security Bonus — Is It Real?
There are many misconceptions floating around when it comes to Social Security. From “bonuses” to “bump up” payments, it can be hard to decipher fact from fiction if you rely on just what others are saying about their plans for Social Security. Let’s set the facts straight about how Social Security works and what truly impacts your monthly payment.
Can I Be Over Diversified in My Retirement Investments?
Diversification is an important aspect of investing used to manage risk. But can you over diversify? The short answer is yes. More common than over-diversification, we see pre-retirees who may benefit from adding a bit more diversification into their investment strategy. Let's talk about the diversification of your retirement portfolio.
The Cost of Early Withdrawals From Your Retirement Savings
Most of us know there’s a financial penalty for withdrawing money from various retirement accounts before reaching a certain age. Understanding exactly how hard you’ll be hit and how much longer you need to wait can potentially save you thousands of dollars. At the very least, we hope to give you enough information to make you think twice!