retirement planning | Wade Financial Advisory | Fee-Only Financial Advisor serving Silicon Valley

Ahead of the Curve: Financial Planning for Early Retirement Success

Retirement Planning / Wade Financial Advisory

There are many factors outside our control that can impact our retirement timeline – economic volatility, new legislation, or even a global pandemic – all of which can throw us off course enough that even the most well-planned retiree must make changes. This is part of what makes early retirement so challenging, so it ends up being a dream that fewer and fewer people manage to achieve. In fact, polling shows that American workers are retiring at later ages than they have in the past three decades. Still, achieving early retirement is not an insurmountable task. With careful financial planning and discipline, it can become a reality. If you are dreaming of leaving the workforce early, below are ten strategies to help you with financial planning for early retirement so you can stay ahead of the curve.

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Roth Conversion: Evaluating If It Aligns with Your Financial Goals

Wealth Management / Annrose Isaac CPA, CFP®, MBA

In the ever-changing realm of personal finance, people are continually searching for new and creative ways to enhance their retirement plans while reducing their tax obligations. One such strategy that has garnered increased attention in recent years is the Roth conversion. This financial tactic permits individuals to transform a portion or all of their pre-tax retirement savings into Roth assets, potentially yielding substantial tax advantages over time. If you’re looking for new ways to boost your retirement savings, read on for an exploration into factors that you should keep in mind when determining if a Roth conversion properly aligns with your financial goals.

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Roth Conversion: Evaluating If It Aligns with Your Financial Goals Read More »

Learn six helpful strategies to enhance your retirement readiness and achieve financial stability.

Strategies to Improve Your Retirement Readiness

Retirement Planning / Annrose Isaac CPA, CFP®, MBA

Preparing for retirement is an important, ongoing process that requires meticulous planning and a proactive mindset. Whether you’re at the beginning of your career or nearing retirement age, it is helpful to take actions now that will bolster your retirement readiness for the future. Through prudent decision-making and the implementation of effective strategies, you can pave the way for a more enjoyable, worry-free, and financially secure retirement phase of life. We’ll discuss six such strategies below.

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Ask yourself these retirement planning questions in your 40s and 50s to develop a savvy financial plan.

Retirement Planning Questions to Ask in Your 40s and 50s

Retirement Planning, Uncategorized / Jesse Lownsbury CPA, CFP® Candidate

As you enter your 40s and 50s, it’s an opportune time to start contemplating your retirement lifestyle and evaluating your financial position. You’re getting closer to having greater freedom and more time to pursue your passions, which is exciting, but you’ll want a financial plan in place that will give you security and peace of mind. Asking yourself the retirement planning questions below can help you solidify your plans and financial goals for the coming years.

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Retirement Planning Questions to Ask in Your 40s and 50s Read More »

These Cognitive Biases Could Sabotage Your Financial Planning

Uncategorized, Wealth Management / Caleb Bjerk

Much of financial planning revolves around your retirement planning strategy – a strategy that very likely involves investing. On the surface, investing may seem to be all about facts and figures, like principles and interest rates. However, there’s always a human element that shouldn’t be overlooked. In fact, an entire domain of psychology known as behavioral finance shows we are all susceptible to cognitive biases and emotional influences that impact self-control, risk tolerance, and rational behavior.

In this article, we’ll explore two of the most common cognitive biases – herd behavior and overconfidence – and how they could be sabotaging your financial plans. Once you are aware of them, you can combat these negative behaviors and move beyond them for greater financial security in retirement.

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Understanding Retirement Planning Changes in the SECURE Act 2.0

Retirement Planning, Uncategorized, Wealth Management / Annrose Isaac CPA, CFP®, MBA

Learn About Important and Far-Reaching Provisions that Could Impact Your Financial Future

On December 29, 2022, President Biden signed a bipartisan budget bill that included many retirement savings changes, referred to collectively as the SECURE Act 2.0. It reshaped retirement tax incentives and existing retirement account rules in ways that are likely to have consequences for years to come. Supporters of the legislation say it will encourage stronger retirement savings among workers, while others have expressed concern that some of the provisions expressly benefit high-earners only.

Regardless of where you stand on the efficacy of the legislation, it’s important to understand what the SECURE Act 2.0 means for your finances. The law contains more than one hundred provisions dealing with retirement savings, and below you’ll find details on several that may impact your personal retirement planning efforts.

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Understanding Retirement Planning Changes in the SECURE Act 2.0 Read More »

5 Things Every Retirement Plan Should Include

Retirement Planning, Uncategorized, Wealth Management / Annrose Isaac CPA, CFP®, MBA

Retirement planning can feel like a daunting prospect. There are many variables to consider and steps to take along the way. It is important to start planning early so you can find a path forward, especially because you know how important it is to get it right. However, if you’re getting started and wondering about the things every retirement plan should include, we’re here to help.

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