Financial Planning Archives - The Financial Quarterback™

Retirement Planning: Why There’s No Such Thing as a One-Size-Fits-All Retirement

September 18, 2020 by Richard E. Reyes, CFP®

If your household earns over $30,000 per year, you are going to need more than social security to keep up your lifestyle in retirement. This is why many financial advisors recommend saving enough to replace 80% or more of your pre-retirement income.

When it comes to retirement planning, most people think a one-size investment strategy fits all. Here are three reasons why retirement planning does—and should—work differently for different people.

Retirement Looks Different For Different People

How much time do you have to save before retirement?
What do you plan to do while you’re retired?
Where do you want to live in retirement?
Where will your income come from in retirement?

[Read more…]

What Retirees Should Do Now During COVID-19

April 29, 2020 by Richard E. Reyes, CFP®

If you are retired during this COVID-19 pandemic, chances are you might be concerned about your future retirement.

In fact, most retirees don’t plan their retirement well and are too dependent on the market. [Read more…]

How I’m Investing During COVID-19

April 17, 2020 by Richard E. Reyes, CFP®

It’s a tough financial time for many as we deal with the COVID-19 pandemic, but that doesn’t mean you have to lie down and let yourself get pummeled. There are things you can do to manage your assets!

If you’re fortunate enough to not have your family income reduced during this time, there are some opportunities to protect yourself and grow your long-term wealth if you are under the age of 55. [Read more…]

Looking For the Perfect Investment? Here’s the Secret….

April 14, 2020 by Richard E. Reyes, CFP®

We are in some weird times right now. A few weeks ago, I would have never imagined that I would have to plan for our federal, state and local governments to shut down an entire economy due to a pandemic like the coronavirus (COVID-19).

I have been through several economic downturns in the past and, unfortunately, it’s times like this that many investors will panic and make some big money mistakes.

And one of the biggest mistakes is trying to search for the “perfect investment.” [Read more…]

Dollar Cost Averaging and Retirement Don’t Mix!

March 26, 2020 by Richard E. Reyes, CFP®

You’ve probably heard the term dollar cost averaging over your years of making contributions into your retirement accounts. Dollar cost averaging is when you make a regular, fixed-dollar contribution into your investments regardless of what occurs in the market. [Read more…]

Why COVID-19 is the Perfect Time For a Roth Conversion

March 25, 2020 by Richard E. Reyes, CFP®

These are uncertain times. People are getting laid off, the stock market has taken a hit, and and there are a lot of unanswered questions.

But this is also the perfect opportunity to get your retirement plan in order. In fact, there are many reasons that doing a Roth conversion is a great decision. And even better? It’s not hard to do.

[Read more…]

Don’t Let Coronavirus Derail Your Retirement Plans!

March 23, 2020 by Richard E. Reyes, CFP®

I don’t know!

That’s the only answer I have to some of the questions swarming around the coronavirus (COVID-19) outbreak. There have been so many aggressive actions implemented in the dealing with the possible outbreak, but information is changing so fast that no one has any real certainty. [Read more…]

The SECURE Act

January 8, 2020 by Richard E. Reyes, CFP®

The SECURE Act was signed into law into law in December 2019 and went into effect on January 1, 2020. The SECURE ACT changed some important aspects of retirement planning, the biggest one being the age at which to commence your Required Minim Distribution (RMD). [Read more…]