article thumbnail

Navigating the Thrift Savings Plan: Planning Opportunities To Support Federal Employees, Military Servicemembers, And Veterans

Nerd's Eye View

government is the largest employer in the country, it can be especially helpful for advisors to be familiar with the ins and outs of (and recent changes to) the Federal government’s own defined contribution plan: the Thrift Savings Plan (TSP).

Planning 243
article thumbnail

Small Business Retirement Plans – SEP-IRA vs. Solo 401(k)

The Chicago Financial Planner

One of the best tax deductions for a small business owner is funding a retirement plan. If you don’t plan for your own retirement who will? Two popular small business retirement plans are the SEP-IRA and Solo 401(k). I generally consider this a plan for the self-employed.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Listing Fees On Advisory Firm Websites Can Clearly Communicate The Cost (And Value) Of Planning

Nerd's Eye View

But even as fee-only financial planning has gained in popularity and advisory firm websites have become ubiquitous, it can still sometimes be hard for prospective clients to determine how much they would pay for advice before actually reaching out to the firm.

article thumbnail

Friday links: advanced planning

Abnormal Returns

Strategy A look at long term, 10, 20, 30 year, stock market returns. awealthofcommonsense.com) How paradigm shifts happen in markets. mrzepczynski.blogspot.com) Finance A couple of deals this week highlight a thaw in the IPO market.

Planning 207
article thumbnail

How to Make the Hybrid Model Work for Your Team

Can you give your employees the best of both worlds? Research has shown that when executed correctly, hybrid working models can allow companies to recruit better talent, achieve innovation, and build a flexible, productive future.

article thumbnail

SECURE Act 2.0: Later RMDs, 529-to-Roth Rollovers, And Other Tax Planning Opportunities

Nerd's Eye View

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirement planning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72.

article thumbnail

Chalk Talk: Cash Flow Planning

MainStreet Financial Planning

“MainStreet Chalk Talk” The MainStreet Financial Planning Discussion Club When: Tuesday 3-21-23 at 7:30pm Eastern; 4:30pm Pacific ~30-45 minutes Recorded and able to retrieve for one week How : Zoom Meeting, Free to ongoing clients; $10 for guests Register here!

article thumbnail

Kitces & Carl Ep 107: The Strategic Planning Process And Coming Up With (New) Ideas To Try

Nerd's Eye View

For many financial advisors, annual strategic planning is an essential process that establishes clear and specific business goals for the year, along with the steps necessary to achieve those goals.

article thumbnail

Increasing Financial Planning Efficiency With A Systematized Annual Process

Nerd's Eye View

A common service model for many financial advisory firms is to schedule annual client meetings throughout the year where the advisor meets with each client in the month they started working with the firm, and conducts a comprehensive review of all planning topics for the client.

article thumbnail

The Downsides of a DIY Retirement Plan

Integrity Financial Planning

From financial plans to home remodeling, it’s common to be tempted to DIY your way there. Financial planning can be complicated. Have you thought about taxes or estate planning or when to withdraw and from where? 4:06) Tax planning plays a key role in financial planning. (7:42)

article thumbnail

Long-Term Care Considerations in Estate Planning

This article explores the impact of medical/LTC expenses on estate planning objectives, and discusses strategies to keep assets flexible to address needs that may arise while satisfying the objective of transferring wealth to designated beneficiaries.

article thumbnail

Estate Planning 101

Integrity Financial Planning

Understand the basics first, and then create an estate plan. Wills and trusts are both important estate planning tools with important differences. Communication is crucial when preparing heirs to inherit wealth, and this includes discussing what they plan to do with the money.

article thumbnail

Kitces & Carl Ep 106: Sharing ‘Real’ Examples Of Your Work To Show The Value Of Financial Planning

Nerd's Eye View

The increasing popularity of financial planning has led to a growing awareness of how important managing finances and planning for the future can be. Kitces & Carl Podcast OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN

article thumbnail

Why is Estate and Legacy Planning Important?

Nationwide Financial

What does legacy planning include? Legacy planning is a great example. We use the term “legacy planning” because it includes more than just basic estate planning. Why should financial professionals be involved in legacy planning?

article thumbnail

How “Probability Of Success” Differs Between One-Time And Ongoing Financial Plans

Nerd's Eye View

Monte Carlo simulations have become the dominant method for conducting financial planning analyses for clients and are a feature of most comprehensive financial planning software programs. Retirement Planning OPTIN: SWR (BAR) OPTIN: SWR (SLIDE IN

article thumbnail

Global Growth Playbook: Scaling a Remote-First Company

Today, nearly half of companies plan to continue offering some form of remote work flexibility to their employees. In this guide, we will explain what a remote-first company is and how you can quickly and efficiently pivot to this workforce model.

article thumbnail

Why Childfree People Require A Unique Financial Planning Process

Nerd's Eye View

For financial advisors, dealing with issues concerning clients’ children, from education costs to legacy goals, is a common part of the planning process. And no matter the reason, clients without children have unique planning needs that are important for advisors to recognize.

article thumbnail

Personal finance links: finding a new plan

Abnormal Returns

the-long-view.simplecast.com) A discussion about when it is time to adjust your retirement plans. npr.org) Retirement Nine retirement myths including 'I’m frugal and plan to live on 50% of my pre-retirement income.'

Planning 218
article thumbnail

The Importance of Financial Planning

Financial Symmetry

Do you have a mapped-out plan for your future? Financial Planning could be the answer. The post The Importance of Financial Planning appeared first on Financial Symmetry, Inc. Do you know the best steps to take to achieve your goals?

article thumbnail

How Unused 529 Plans Now Have Another Tax-Advantage Option

MainStreet Financial Planning

Are you one of the few out there that might have saved too much for your child’s college into a tax-advantaged 529 savings plan? Education 529 plans allow you to change beneficiaries, so if you have any other family members needing college funds, that should be your first option.

article thumbnail

Risk Planning

Random Roger's Retirement Planning

There also needs to be what I'll call risk planning which is what the above describes. Some interesting conversations and the like related to portfolio construction and the use of alternative strategies.

article thumbnail

Health Savings Accounts – The Other Retirement Plan

The Chicago Financial Planner

Many of you have the option to enroll in high-deductible insurance plans that allow the use of a health savings account via your employer. High deductible health insurance plans . These types of plans are becoming more common with employers and are available privately as well.

article thumbnail

Creating A (Just In Case) Game Plan For Clients Facing Layoffs

Nerd's Eye View

And while there are many things to consider when planning for a layoff, these considerations can be grouped into two distinct types of conversations. Next, the advisor and client can make a ‘game plan’ which would take effect if the client is actually laid off. With the U.S.

Planning 177
article thumbnail

3 Strikes to Avoid When Tax Planning

Integrity Financial Planning

So, make sure your Social Security and retirement account income plans are lined up so you can claim your maximum benefit with minimal taxation. Don’t just wait until tax season to figure out your tax plan. Blog Tax Planning Taxes

article thumbnail

Putting Together the Puzzle Pieces of Retirement Planning

Integrity Financial Planning

4] Conclusion As you can tell, taxes are a major part of retirement planning, and often making the right choice for your retirement involves being savvy about which tax-advantaged retirement savings vehicles to use. Blog Retirement Planning

article thumbnail

Retirement Planning with Mr. Miyagi

Integrity Financial Planning

Financial planning is not the same for everybody, so it’s important to have a plan. Just like Mr. Miyagi in the movie Karate Kid teaches discipline, you need to have discipline with your financial plan.

article thumbnail

Why To Use George Kinder’s 3 Life Planning Questions With Financial Planning Clients

Nerd's Eye View

Financial planning is both an art and a science. As part of his Life Planning approach, George Kinder developed three questions that probe deeper into a client’s hopes, dreams, and fears, to help advisors develop more complete and impactful financial plans.

article thumbnail

How To Use George Kinder’s 3 Life Planning Questions With Financial Planning Clients

Nerd's Eye View

Financial planning is both an art and a science. As part of his Life Planning approach, George Kinder developed three questions that probe deeper into a client’s hopes, dreams, and fears, to help advisors develop more complete and impactful financial plans.

article thumbnail

5 Simple Tips for a Retirement Income Plan

Nationwide Financial

But sometimes clients can use simplified tips to help them think through their plans. Knowing their monthly expenses, social security plans, long term tax implications, and more can be important steps in helping clients prepare for retirement. 2 – Make a plan for Social Security.

article thumbnail

#FA Success 291: Managing Fast Growth And Slow Growth Of A Planning-Centric Advice Firm, With Amy Irvine

Nerd's Eye View

Amy is the owner of Rooted Planning Group, an independent RIA based in Corning, New York that oversees $67 million in assets under management for 175 client households. Financial Advisor Success Podcast OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN

Planning 233
article thumbnail

Sabbatical Financial Planning: Taking Extended Time Off Without Derailing The Career Or Retirement

Nerd's Eye View

A sabbatical refers to a period of time in which someone takes an extended, planned break from work prior to retirement, often as an opportunity to focus on their wellbeing and/or to gain valuable perspectives of life outside of work.

article thumbnail

Return Assumptions in Retirement Income Planning Software

Covisum

One of the most challenging aspects of financial planning is setting reasonable performance expectations. Of course, no one can predict the future, but the right financial planning software can help you make wise investment decisions based on available factors.

article thumbnail

#FA Success Ep 295: Systematizing A Planning Process To Maximize The Return On Life For Clients, With Shari Greco Reiches

Nerd's Eye View

Financial Advisor Success Podcast OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN Welcome back to the 295th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Shari Greco Reiches.

Planning 193
article thumbnail

Tax Planning for the Future

Integrity Financial Planning

Why does tax planning matter for your retirement plan? Brian talks through the difference it can make and why you should pay attention to it now as a part of your financial plan. What things can you do now to plan ahead for taxes in retirement?

article thumbnail

Establishing Solo 401(k) Plans For Self-Employed Workers: Options, Contribution Limits, Deadlines, And More!

Nerd's Eye View

Among the several different types of retirement plans that are available to self-employed workers, solo 401(k) plans can offer the most flexibility and the ability to contribute the highest amount of tax-advantaged savings.

Planning 229
article thumbnail

#FA Success Ep 314: Focusing On The Planning Work You Enjoy By Providing Outsourced Virtual CFP Services, With Sue Chesney

Nerd's Eye View

Financial Advisor Success Podcast OPTIN: One Page Business Plan (BAR) OPTIN: One Page Business Plan (SLIDE IN Welcome back to the 314th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Sue Chesney.

CFP 130
article thumbnail

Which Medicare Plan Is Best for You?

Carson Wealth

Choosing the right Medicare plan is one of the most important decisions seniors are faced with. That’s why it’s a good idea to consult a qualified professional about which plan works best for you. What Medicare Plans Cover (and What They Don’t).

article thumbnail

Podcast links: planning a podcast

Abnormal Returns

The biz How an idea becomes a podcast: the case of the new 'Work Appropriate' pod. annehelen.substack.com) Is listening to audiobooks really reading? wired.com) How to write a podcast script. casted.us) Business Jim O'Shaughnessy talks with Jeremiah Lowin of Prefect.io about making original mistakes.

Planning 130
article thumbnail

Igniting legacy planning action

Nationwide Financial

Financial professionals understand the value of estate planning, but starting that conversation and inspiring clients to take action can be challenging. It’s easy to think of estate planning as just wills, trusts and advanced directives, but it’s so much more.

article thumbnail

Our Plans to Remain an Independent Company

Wealthfront

The post Our Plans to Remain an Independent Company appeared first on Wealthfront Blog. Today we announced that together with UBS we decided to terminate our pending acquisition and will instead remain an independent company.

Planning 139