Financial Tips

Leaving a job is one of the most financially consequential moments in a person's life. And one of the first decisions you will face is one that most people are completely unprepared for: what do you do with the 401(k) you are leaving behind? You have four options. Roll it into an IRA. Move it to your new employer's plan. Leave it where it is. Or cash it out. Each one has real consequences, and one of them is almost always a mistake. In this article, a CFP® walks through all four options clearly, explains the special situations most people never hear about, and gives you a simple framework for making the right call for your situation.

The three-phase model changes how you should think about almost every retirement planning decision. It affects how you structure your income, which accounts you draw from first, how you size your emergency reserves and when you make major spending commitments. A flat "I need $X per year" retirement budget misses the fact that you will probably need more than that in your 60s and early 70s, somewhat less in your late 70s and early 80s, and then potentially much more again in your late 80s and beyond, driven almost entirely by healthcare. Planning for the average of those three phases means you are underfunded in two of them. The better approach is a phased income plan that explicitly models all three stages. That means identifying which assets will fund discretionary spending in the Go Go Years, building a bridge to cover the transition into the Slow Go Years, and ensuring that a dedicated strategy exists for the healthcare and care costs of the No Go Years. This kind of planning is not morbid. It is liberating. Retirees who have modeled all three phases tend to spend more freely in the early years, because they know their plan accounts for what comes later. The ones who have not tend to underspend out of anxiety, or overspend out of optimism, and get caught off guard either way.

None of these mistakes require extraordinary discipline to avoid. They require awareness, a willingness to take an honest look at where you are, and a plan that accounts for where you want to go. The earlier you address them, the more options you will have. If any of these eight points resonated with you, it may be time to take a fresh look at your retirement strategy. That conversation is always worth having. Is your retirement plan on track? Whether you are just getting started or approaching retirement, a clear-eyed review of your strategy can make a meaningful difference. I work with individuals and families to build retirement plans that hold up to real life. Let's find time to talk.

More than 63 million Americans are now caring for an aging parent — and most are doing it without a financial plan in place. The costs of long-term care are rising, Medicare covers far less than most families expect, and the legal documents that protect your family are often missing until it's too late. In this article, we break down what you need to know about financing eldercare: from the key legal documents every family should have in place, to long-term care insurance, Medicaid planning, and the often-overlooked impact caregiving has on your own retirement. Whether you're planning ahead or already navigating a caregiving situation, here's how to approach it with clarity and confidence.

Medicare enrollment can feel overwhelming, especially as you approach retirement. Understanding your options, enrollment timing, prescription coverage, and potential cost assistance can help you avoid penalties and unnecessary expenses. This guide breaks down the essentials so you can transition into Medicare with clarity and confidence.

Retirement should feel secure, not stressful. Yet many retirees face avoidable financial pitfalls involving Social Security timing, health care costs, longevity planning, withdrawals, and taxes. This guide outlines common retirement mistakes and how thoughtful planning can help you protect your income and lifestyle for decades to come.