Discussions about retirement planning usually begin with a basic question: What’s the cost of a successful retirement? If everyone had the same expenses, the same family situation, and the same retirement goals and aspirations, there could be a one-size-fits-all answer to this question. But each person’s situation is unique. That said, there are certainly rules of thumb that can be extremely helpful when it comes to retirement planning. Using general guidelines—with a healthy helping of personalization—you can answer the very important question of how much you will need to have a successful retirement. Let’s first take a look at general guidelines, and then we’ll look at the ways each person needs to personalize retirement planning to fit their unique situations. Rules of Thumb Everyone can begin their retirement calculations from a few basic rules of thumb and then personalize from there. The following guidelines can help you get a rough, generalized estimate of what you’ll need for a successful retirement. [+] Read More

Many people approaching retirement consider where they will live during their retirement years. Relocating to a more affordable or comfortable area could be an important part of your retirement lifestyle planning. Even if you plan to remain in your current home, however, your family nest egg will be influenced by your home financing. Cash vs. Mortgage Different schools of thought exist about whether it’s best to pay off your home and live debt free or carry a mortgage during your retirement years. It seems like a simple decision, but several factors complicate this decision. Further, there isn’t a one-size-fits-all answer to this question. Depending on your personal retirement lifestyle planning goals and your current situation, one of these options will likely be more advantageous than another. Your financial advisor can help you sort out the ramifications of whether to pay off your mortgage, carry a loan, or consider a reverse mortgage. [+] Read More

One of the many aspects of WrapManager that I love so much is the diversity of our clients from a geographic standpoint. We have clients all over the country. Given that WrapManager is headquartered in San Francisco, however, we do not have the opportunity to see a lot of our clients in person as much as we would like. Because of this WrapManager has always strived to be at the forefront from a technology standpoint, especially when it comes to services like Go to Meeting or Join Me, to allow us to bring our clients onto our computers for quarterly reviews. I commonly say that using a service like Join Me allows a client to feel like they are looking over my shoulder at my computer screen together with me. We have local clients that even prefer to utilize this technology during our quarterly reviews because it allows them to see our screen comfortable in their own home. [+] Read More

Transitioning from the working world into retirement brings a wealth of exciting new opportunities – having more time to spend with your family, traveling the world with a loved one, or perhaps devoting fresh time to an old (or a new!) hobby. If there’s one challenge though, it’s making sure you have sound wealth management strategies in place to support all of your income needs. The good news is that it’s a challenge you can easily address with the help of a financial advisor, and it essentially boils down to four easy steps. [+] Read More

Many people think of Social Security as a steady, if meager, contributor to their retirement income—no flexibility, but at least it shows up monthly. The truth is, however, that there are strategies you can use to maximize your Social Security income. By incorporating these strategies into your overall retirement lifestyle planning, you can provide yourself with more options during retirement. The Restricted Application for Spousal Benefits The Restricted Application for Spousal Benefits allows for one spouse to begin collecting spousal benefits even as their own retirement benefits continue to grow. If you continue to let one spouse’s benefits grow until age 70, the benefit will be quite a bit higher than it would have been if collected at age 66. [+] Read More

The addition of a new family member is a wonderful and life-changing event! Your new family member may be a new spouse, a new son- or daughter-in-law, a new child, or a new grandchild. Along with celebrating this new family member’s arrival, consider how you may need to make changes to your retirement lifestyle planning. The following helpful reminders can help you to start your new family member on firm financial footing. [+] Read More

Many investments view their fixed-income portfolio as a "safe haven" of sorts. Though each investor's goals are unique, fixed-income portfolios are often designed to help preserve principle, generate retirement income and potentially reduce overall portfolio volatility. Just like you do with stocks, it’s essential to make sure your fixed income portfolio is diversified. And although interest rates remain low,1 as Winston Churchill once said: "An optimist sees the opportunity in every difficulty."2 Take the time to work with your financial advisor to review your fixed income portfolio. Here are a few things to discuss. [+] Read More

Part of planning for the end of the calendar year includes a thorough review of your investment plan. One of the problems that many people face is discovering they may have not paid as much attention to investment planning as they originally thought. While the stock market has stayed fairly strong through most of 2014, it may still be a good time to re-evaluate your portfolio, especially if your goals have changed and you have yet to adjust your investment plan. Here are a few topics to cover with your Financial Advisor before year end. [+] Read More

You've finally hit the wonder years. You no longer have to pull the sheets back early in the morning to head off to work, and best of all, if hitting up the greens for a nice round of golf on a Tuesday is what you feel like doing, then that's perfectly okay. Here's a quick look at a few tips that can help your money last longer in retirement. Pay Close Attention to your Withdrawal Rate Now more than ever, having a budget and sticking to it will be of the utmost importance. If you withdraw more than your investment plan calls for, you'll find yourself dwindling down your retirement savings more quickly than anticipated. [+] Read More