For clients who are retired, our primary focus is on designing and managing the portfolio so that it meets their ongoing income needs. However, beyond that we often assist with common financial issues that arise in retirement, including budgeting, moving and purchase of a new home, transitioning to an independent living facility and changes to estate plans.

What We Can All Learn from Financial Planning for Teachers

When my aunt founded Minerva nearly 30 years ago, one of the first groups for whom she did a good deal of work were teachers. At the time, the State was looking for assistance with financial planning for teachers, and my aunt was chosen. Between that work and...
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Who Needs a Comprehensive Financial Plan

In last week’s blog post, I covered what every financial plan should include regardless of whether you were concerned with retirement planning, planning for an inheritance or some other issue. This week, I want to focus on when you should consider having a...
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What Does a Personal Financial Plan Include?

If you have considered working with a financial advisor on a personal financial plan, but have held off because you weren’t sure what the plan would include, this post is for you. The confusion around what is included in a plan is understandable because each plan is...
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Medicare Changes from a Fee-Only Financial Advisor’s Perspective

Generally, when we put together a financial plan for clients approaching retirement, we will split expenses into three big buckets – ongoing expenses, one-time expenses and medical expenses. The reason we break out medical expenses separately is that in recent...
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Planning for Early Retirement – 4 Things to Consider

Whenever I meet with prospective clients, “tomorrow” is the number one response to the question of when they’d like to retire. The answer is usually tongue-in-cheek, because most people aren’t in a position to retire altogether. Nevertheless, there are some clients...
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Retirement Planning and Reverse Mortgages

  One of the questions clients ask from time-to-time is whether we include their house as an asset when we do retirement planning. Typically, if the plan is to remain in the house for the duration of retirement, we don’t, but every now and then we do need to...
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How to Maximize Social Security in Retirement

Social Security is a core component of every retirement plan, yet few couples approaching retirement are aware of the nuances of Social Security and how to maximize their income in retirement. Choices about when to draw Social Security and, for married couples, what...
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Financial Goals Don’t Always Start with Money

One of the most rewarding aspects of being a financial advisor is working with clients when they realize a financial plan isn’t really about finances, per se, but rather what they want to accomplish with their lives. At that point, the conversation shifts abruptly...
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Budget Seems to be the Hardest Word

Budget. If there is a another word in the financial advisor's lexicon that generates such a strong reaction among clients, I’m not aware of it. For some clients, budgeting is something they’ve always done automatically, while for others it is the financial equivalent...
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Advice from a Recovering Know-it-All

Years ago, my girlfriend - and now wife - pointed out that from time-to-time, I could come across as a bit of a know-it-all. I asked for a few examples which she had helpfully cataloged, and from that point forward I worked on *not* coming across that way. At the same...
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