Speaking to an estate planning attorney to discuss what your needs are is important at any stage of your life. Do you need a will or a trust? Should you have a power of attorney? Whether you have a young family or getting ready to retire, there are unique challenges…
Retirement planning can cause both excitement and anxiety. There are many decisions that every retiree faces, including when to begin Social Security withdrawals, what accounts to withdraw from first, and what happens if I encounter a long-term care event. Our job is to help create a plan that can help…
Planning for your future requires certain assumptions to be on things like rate of return, life expectancy, and inflation. We believe it's important to be conservative when setting any unknown assumptions for the future in order to protect against a future environment that may be less than ideal. For more…
While it's important to reassess your allocation when nearing retirement, it's also key not to go too conservative. With people living longer, it's not uncommon for your retirement to last 20 years or more. Utilizing the right mix of long-term and short-term investments is vital. For more on this topic…
There are many ways to invest. Should you diversify or try and make a big score by concentrating in one stock or one sector? If you're investing your life savings, we believe in spreading your risk through diversification. For more on this topic and other resources, please check out https://carsonallaria.com/…
How should investors respond the volatility in the stock market? This video talks about the importance of a long-term view, a steady temperment, and a conviction about the investment philosophy you choose. For more on this topic and other resources, please check out https://carsonallaria.com/ Disclaimer: All material discussed on this…
What makes us different, I think, is that we approach everything we do from a planning perspective. We think that everyone needs a financial blueprint. And, we spend a great deal of time and effort listening. Our clients are not a number. We have very deep, intimate relationships. We do…
Your financial life is about more than just your investment accounts. That’s why you need a wealth manager to help guide you in making the best decisions for you, your family, or your business. At Carson Allaria Wealth Management, we analyze and make recommendations for your retirement plan, risk management…
A life insurance policy protects your loved ones against the loss of your income after your death, and helps to preserve their standard of living. You’ll name a beneficiary to receive the proceeds, and in exchange, you’ll pay premiums as outlined in the policy terms. Once you’ve determined how much…
If you’ve become the beneficiary of an IRA or other retirement account, it’s important to know your options. You can take the money out in one lump sum. This requires opening an account called an Inherited IRA in your name for correct IRS reporting. That lump sum may be taxable…
You’ve been saving for your retirement for decades. Don’t undermine your own plans by making these 5 common mistakes when you retire. First, don’t retire too soon. Life spans are increasing and many retirees underestimate their life expectancy when calculating the money needed to live on. The second mistake to…
If you’re changing jobs or retiring, it’s important to know the rules regarding moving funds from your employer sponsored retirement plan. The wrong move could cost you in income taxes and early withdrawal penalties. There are two basic ways to move retirement plan assets from one retirement plan into another…
A question we hear often is “Is it possible to increase my Social Security benefits?” The answer is yes, there are 3 basic ways you can boost your benefits; work more years, earn more in annual income, and claim benefits later. [1 - Work More Years]- Social security benefits are…
Most Americans who turn 65 are eligible for Medicare, a federal program that covers many health expenses for seniors. But the program is complicated. Here are 5 important facts you need to know: First - Medicare is not free. Of the 4 parts, Part A - Hospital Insurance - is…
Many people believe Social Security will pay for their retirement, but Social Security was designed to be just a complement to a pension and investments. So don’t rely only on Social Security for your retirement because it probably won’t be enough to maintain your current lifestyle. However, planning for your…
If you're like most people, most of the time, you focus your financial efforts on maximizing your current income. But it's also important to plan ahead for the benefit of your spouse if you should pass away. Here are some tips for how to do that. First, carefully consider joint…
You might be asking yourself, "When should I retire? Should I retire early or defer it?" Deciding when to retire may not be just one decision, but a series of decisions and calculations. For example, you’ll need to estimate not only your anticipated expenses but also what sources of retirement…
Here are some tips to help you lessen your tax burden at the end of the year. First, Be aware of any tax changes that will take place in the new year so you can use them to your advantage. Review your cost basis so you can make informed decisions…
As life expectancy has grown, your retirement now can last between 20 and 30 years. So Social Security planning is critical, no matter how much money you have. It can make a difference of hundreds of thousands of dollars. For example, if you retire at age 62 and pass away…
Statistics say there is a seventy percent chance that you or your spouse will experience a need for long-term care! Long-term care includes a range of services and supports you may need to meet your personal care needs. Most long-term care is not medical care, but rather assistance with the…