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Four Tips for Transitioning into Retirement Successfully

The secret to making the switch lies in planning ahead
Wednesday, 07 July 2021

Four Tips for Transitioning into Retirement Successfully

Our natural inclination is to view retirement as a happy and stress-free phase of life – and it absolutely can be. However, when you’re transitioning into retirement it can feel disorienting and nerve-wracking. Making the shift from the working and saving phase of your life to the life of a retiree tends to be a rollercoaster of emotions, and this life pivot can be taxing for even those who are the most prepared.

Five Life Transitions Where a Financial Advisor is Helpful

Having someone you trust can help you make better decisions during unexpected times.
Wednesday, 09 June 2021

Five Life Transitions Where a Financial Advisor is Helpful

No matter your phase in life, the financial decisions that you make now are likely to impact your future. Navigating complex matters such as tax planning, establishing an estate plan, figuring out the right investment strategy, purchasing life insurance, planning for long-term care, or preparing for retirement can be incredibly overwhelming.

For certain financial matters, having a financial advisor at your side can help ensure that you’re making the right choice for your personal situation. The following scenarios are ones in which the help of an expert could significantly improve your financial and personal future.

Four Steps to Feel More Confident About Your Retirement Plan

Use these Tips to Better Prepare Yourself and Your Finances for Retirement
Monday, 24 May 2021

Four Steps to Feel More Confident About Your Retirement Plan

Retirement is momentous, isn’t it? Most people spend their whole lives saving, preparing, and dreaming of this time in their lives. You’re finally “off the clock” and have time to do the things you want to do. Maybe you’ve dreamed of traveling somewhere special, or reading that stack of books you’ve been neglecting, or spending more time with your family. Your retirement is supposed to be a time in your life that you can enjoy with minimal stressors and worry.

Unfortunately, for many retirees, retirement isn’t the worry-free dreamland that they imagined. Almost half of Americans report feeling worried about whether they’ve saved enough money to last throughout their retirements, with only 36% of people saying that they feel confident they’ve saved enough money to be comfortable in this phase of life. So, if you’re feeling more uncertain about your financial situation and retirement preparations than you’d like, know that you’re not alone.

Luckily, there are tangible steps that you can take to whip your finances into shape and improve your financial confidence in retirement. Here are four small steps you can take to help feel more confident about your retirement plan. 

Retirement Planning Mistakes to Avoid in the Era of COVID-19

What NOT to Do to Keep Your Retirement Plan on Track After a Crisis
Wednesday, 28 April 2021

Retirement Planning Mistakes to Avoid in the Era of COVID-19

There is no denying that the COVID-19 pandemic has impacted the financial security of many Americans, as well as becoming a stress test for retirement planning and saving. If this health and financial crisis changed your retirement plans or has left you feeling less secure in your retirement savings, you’re not alone. Though the economy is recovering, and things are beginning to normalize as vaccines roll out, it may take a bit more time to get your retirement plan back on track. Below we will discuss five mistakes to avoid so you can strengthen and protect your savings now and into the future.

Surviving Money Disagreements as a Couple

Open and Honest Communication Can Help You Turn Disagreements into Opportunities for Growth
Wednesday, 14 April 2021

Surviving Money Disagreements as a Couple

By nature, relationships can be fraught with challenges. As two people come together and begin to intertwine their lives and finances, there are many issues to navigate. Plus, busy schedules often leave couples feeling like they’re not spending enough time together, small things like dishes left in the sink can lead to resentment, and jealousy or control issues might permeate the relationship too. In short, relationships aren’t easy, finance issues aren’t easy, and combining the two can be challenging for any couple.  

Of the potential setbacks you and your partner may face, the biggest relationship roadblocks tend to be related to money. Financial issues can sink even the healthiest of relationships, so learning how to work with your partner – rather than against them – to navigate these challenges can ensure your relationship finds long-lasting success, and on firm financial footing, too.

Health Savings Accounts Offer a Tax Break for High-Earners

When used correctly, HSAs can be the ultimate tax savings strategy.
Wednesday, 24 March 2021

Health Savings Accounts Offer a Tax Break for High-Earners

Protecting as much of your earnings as possible is key to wealth building, making it imperative for high-earners to develop a savvy tax strategy. Health Savings Accounts (HSAs) are often a viable option, though they tend to be overlooked or misunderstood. When they’re used correctly, however, they can be a fantastic tool to have in your financial planning toolbox. An HSA cannot only provide an easy annual income tax deduction, but it can also create a dedicated, tax-free vessel of funds on hand to cover any healthcare costs you may encounter during retirement.

How to Enable Your Adult Children to Create Financial Independence

Supporting Your Adult Children Can Strain Your Finances and Endanger Your Retirement
Wednesday, 10 March 2021

How to Enable Your Adult Children to Create Financial Independence

As a parent, you’ll likely do anything for the health, safety, and security of your children. For many parents, this translates into financial support – oftentimes long into adulthood. For several years now, there has been an emerging trend among young adults needing to rely on their parents for financial help to varying degrees after college. Now, COVID-19 has made the job market even more volatile for younger, less experienced members of the workforce.

While it’s important to support your loved ones, you need to find a balance between softening their landing and protecting your own financial security – especially your retirement nest egg. Below you’ll find six strategies to protect yourself and encourage your loved ones to create financial independence.

Six Ways to Use 'Self-Continuity' to Strengthen Your Retirement Plan

Try this Ancient Greek Concept to Better Prepare for Your Future
Wednesday, 17 February 2021

Six Ways to Use 'Self-Continuity' to Strengthen Your Retirement Plan

If you’re like most people, you’ve already put some thought into your retirement plans and the lifestyle you’ll lead. Hopefully, you’ve begun contributing to retirement funds or building other assets for your eventual retirement, too. You may have even thought a little about your age at retirement or brainstormed some specifics of where you’d like to be or what you’d like to be doing. These are useful and necessary parts of retirement planning. However, there is one extra step you can take that will make your decisions for the future even easier, and it’s an Ancient Greek concept called “self-continuity.”

Self-continuity involves imagining your future-self and relating to that person. It allows you to connect with who you will be in the future in a less abstract way, and it can increase your ability to prepare for that time in your life. Researchers have found that being able to relate and project yourself to that future-self in more vivid and realistic terms can make you more willing and capable to make the decisions that will benefit you the most in the future. This can be invaluable, of course, when planning your retirement.

Below are six techniques that will enable you to use self-continuity to bridge that gap between who you are now and who you will be in retirement.

The GameStop Frenzy

An Article by Ladenburg Thalmann
Monday, 01 February 2021

The GameStop Frenzy

Three weeks ago, GameStop (ticker: GME) was known as a store that millennials may have visited in their childhood to shop for video gaming consoles and accessories. That quickly changed when the price of GameStop stock surged more than 1,600% from January 11th to January 27th (source: Bloomberg) dominating the headlines and causing many market participants to ask the question “what in the world is going on?”. The thundering rise in GameStop’s stock can primarily be attributed to an underlying battle between small investors and hedge funds. Since we have fielded many questions on this story, we thought it may be best to provide some context around what has happened so far and how we think it relates to some of the bigger themes taking place in the market and economy today.

Planning for Retirement in Your Fifties

How to put yourself on firm financial footing as you approach retirement
Wednesday, 06 January 2021

Planning for Retirement in Your Fifties

In your 20’s, 30’s, and 40’s retirement can seem like it’s a lifetime away, but as you reach your 50’s it begins to feel much more pressing. If you are finding yourself approaching fifty and you’re not where you want to be with your retirement savings, don’t despair. It’s not too late to take steps to get yourself back on track.

Below are four areas for you to consider focusing on as you enter into your 50’s and begin buckling down on your retirement planning strategy.

How the Sandwich Generation Can Protect Their Retirement

Financial tips for those who juggle caring for aging parents while raising kids
Monday, 21 December 2020

How the Sandwich Generation Can Protect Their Retirement

If you’re part of the Sandwich Generation, you or someone you know are likely juggling the tasks of caring for aging parents and raising kids at the same time. This can be a Herculean feat, and you likely feel as if there’s never enough time, money, or energy to go around for all those depending on you, let alone time or resources for your own needs. This can seem especially so when it comes to having to manage finances for two generations on top of your own.

Though you may have conflicting feelings or struggle with guilt, it’s important to be sure that you’re focusing on your own financial needs, especially when it comes to retirement planning. It can feel impossible but, with discipline and planning, you can protect your retirement in a way that will allow you to launch your kids into a more secure adulthood and continue supporting your parents, too.

Here’s how you can better protect your retirement if you’re a member of the Sandwich Generation.

Developing a Long-Term Focus: Recency Bias and Reconsidering the Reinsurance Sector

Guidance for Overcoming the Urge to Think Short-Term
Monday, 07 December 2020

Developing a Long-Term Focus: Recency Bias and Reconsidering the Reinsurance Sector

One of the greatest pitfalls that investors need to be aware of is something called “recency bias.” This term refers to when current events or trends influence the decisions we make with our investments. Recency can be hard to avoid because it can affect us both intellectually as we review numbers, and also emotionally, which can create impulsive decisions. For instance, recency can lead to jumping on the bandwagon with recently well-performing stocks or assets, causing us to end up buying high and selling low. It can also cause us to get rid of what feels like a loss, only to have it turn around and perform well.

Successful investors look at long-term performance and make intentional decisions without falling victim to short-term performance and recency bias. The first step toward strengthening your investment decisions in this way is to understand more about how it can impact our decision-making.

Who Should Consider a Roth Conversion Now that the Stretch IRA Has Been Eliminated?

This Strategy Offers Another Way for Affluent Investors to Pass Along Their Wealth
Monday, 02 November 2020

Who Should Consider a Roth Conversion Now that the Stretch IRA Has Been Eliminated?

If you’ve saved diligently for retirement – or your parents have – and you’ve accumulated a sizable nest egg, recent rule changes affecting retirement distributions could seriously impact your financial strategy.

The Setting Every Community Up for Retirement Enhancement Act of 2019, more commonly called the SECURE Act, was signed into law in December 2019. It was sweeping legislation that included significant provisions to increase access to tax-advantaged accounts and prevent retirees from outliving their money, but it also eliminated a strategy many affluent investors have been relying on.

Three Ways Retiring at Different Ages Might Affect You and Your Spouse’s Retirement Plans

Planning Together Ensures You'll Understand One Another's Expectations

Monday, 19 October 2020

Three Ways Retiring at Different Ages Might Affect You and Your Spouse’s Retirement Plans

Nearing retirement is an exciting time. It’s the culmination of the many years you’ve spent working hard and diligently following your retirement plans, and for many, it can be an incredibly meaningful and rewarding phase in your life.

Retiring is a very personal decision, and everyone must decide their own perfect timing. This means that couples aren’t always going to be retiring at the same time. Should you find you and your spouse in the position of retiring at different ages, here are three things you should know.

15 Money Habits You Should Be Practicing if You Want to Achieve Financial Freedom

Achieving Financial Security is Just A Few Steps Away

Monday, 28 September 2020

15 Money Habits You Should Be Practicing if You Want to Achieve Financial Freedom

What is stopping you from achieving financial freedom? Often in life, the biggest hurdle we have to overcome is ourselves. Too often our mindset or our emotions get in the way of us achieving the goals that we’ve set. This is especially true in our financial lives. Whether it’s the feeling of being too overwhelmed by the task set before you, such as saving for a house or retirement, or it’s unhealthy habits you’ve picked up like late night shopping, it’s easy to feel ill-equipped, disparaged, or completely overwhelmed when it comes to tackling your money.

However, money doesn’t have to be this gargantuan, all-consuming burden in your life. It’s possible to overcome these hurdles and take control of your financial reality, and it starts with learning a few healthy money habits. We’ve put together a list of 15 of our favorite money tips that can turn you into a financial guru in no time.  We hope you to try implementing some of these into your own life, then watch as your financial independence blossoms. 

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Advisory Services are offered through TriCapital Wealth Management, Inc Securities offered through Triad Advisors member FINRA / SIPC. TriCapital Wealth Management, Inc. is not affiliated with Triad Advisors. We are licensed to sell Insurance Products in the following states: North Carolina, and South Carolina. We are registered to sell Securities in the following states: Delaware, District of Columbia, Florida, Georgia, North Carolina, Ohio, Pennsylvania, South Carolina, and Virginia.

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