Financial Planning

Women and Financial Planning

The theme for 2018’s International Women’s Day campaign is #BalanceforBetter, “Think equal, build smart, innovate for change”.  It is a time to applaud the progress of women’s achievements around the world. However, even with incredible progress, women face unique circumstances when approaching retirement. Women Live Longer Than Men Because women tend to live longer than…

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Charitable Planning Strategies for the Fragile Decade

As our clients at McLean Asset Management near retirement, we notice that many do not bring up charitable gifting strategies to help optimize their retirement plans. Perhaps it’s a focus on solving the longevity goal of making sure there is enough money to meet yearly expenses exclusive of other goals, or perhaps it’s skepticism or…

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Are Municipal Bonds Right for You?

No one likes paying taxes. We all want to minimize the amount of taxes that we owe, so we’re always looking for any tips and tricks we can find. Municipal bonds, or munis, often seem like a great solution since they’re billed as being tax free (which we’ll talk about in a bit). Unfortunately, everyone…

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Rebalancing Frequency

Almost everyone agrees that rebalancing your portfolio is one of the keys to having a successful investment outcome. We know that your asset allocation determines how your portfolio will perform. Successful investors spend a lot of time determining what they want to include in their portfolios, and how they want to spread out their assets.…

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What Does Your Funded Ratio Score Mean?

We are really fond of the Funded Ratio because it allows us to provide a numerical picture of your retirement income plan. In our retirement income optimization process, you can create a framework by providing your preferences for your financial objectives and the subsequent ways you want to fund them with essential and discretionary expenses.…

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Understanding the Funded Ratio

Everyone wants to know where they stand with their finances – Will I be able to have the retirement I want? Do I have enough? Roughly how far do I have to go? Am I overfunded (believe me, it happens)?

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Do You Need an Emergency Fund in Retirement?

Most retirees struggle with how to deal with their emergency fund. It’s there to help you deal with, well, emergencies. Retirees are just as prone to emergency as others, if not more so. You still need a financial reserve to serve as a buffer. While the types of emergencies you need to be prepared for…

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Should Legacy Goals Be Part of Your Retirement Plan?

Figuring out how to plan for your legacy goals is a nice problem to have. But that doesn’t mean you shouldn’t worry about it. Whether or not legacy goals are part of your plan can seriously impact what your retirement will look like. Including them means you’ll have less to spend on yourself (and you’ll…

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How Flexible Is Your Retirement Spending Plan? 

A lot of expenses are negotiable, but many just aren’t. You have to buy groceries. You have to pay your homeowner’s insurance premiums. You have to go on that golf trip this winter (this one may be open to debate). As we’ve discussed in the past, it can be very useful to break expenses down…

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