Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions. In this episode, we're covering the retirement questions that Gen X, Millennials, and Gen Z are asking.   Here’s some of what we discuss in this episode: How do you know how much you need to have saved and how to you tell if you’re on track? How to balance savings goals ..read more

Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions. Over the next few weeks, we’ll share insights into the unique concerns that echo across different age groups. We're starting this series with the baby boomer generation, as a majority of Mike's clients belong to this demographic.   Here’s some of what we discuss in this e ..read more

In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything.   Here’s some of what we discuss in this episode: The importance of having a robust financial strategy that ensures a steady income throughout retirement. Investment strategies to keep pace with, or beat, inflation. You have to consider long-term care costs in retirement planning. Strategies to mitigat ..read more

Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments.   Here’s some of what we discuss in this episode: What do we mean by lazy money? Why we should still be concerned about having too much lazy money. The dangers to your retirement if you’re too conservative. How we help people shift their mindset and look at other investment options.   To get in touch with Mike, visit our website: http://pr ..read more

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards. In part two of our discussion, we’re going to talk through four more situations which people commonly pick the option that gives them a benefit now. Many people aren’t making these choices intentionally so our goal is to help you understand why patience pays in these scenarios.   Here’s some of what we discuss in this ..read more

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards.   Here’s some of what we discuss in this episode: It might not seem like a big deal to miss a 401k contribution and the company match once or twice, but you don’t ever want to leave free money on the table. The tax benefits for contributing to a tax-deferred account now might give you a nice tax savings now but it mig ..read more

Ever thought that minor tweaks in your financial plan could lead to major wins? In this episode, we're exploring the surprisingly powerful world of simple financial adjustments. From finding the right balance in your cash reserves to consolidating old 401Ks, we're unpacking those seemingly small steps that can bring about big, positive ripples in your financial life.   Here are a few of the financial tweaks that we discuss in this episode: Keeping the right amount of cash on hand for emergencies Consolidating your old 401ks Reassessing your managed accounts to ensure they align with your ..read more

We're nearing the end of the year, but it's not quite over yet! Join us for a thoughtful episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years.   Here’s some of what we discuss in this episode: Regularly reassessing and rebalancing investment portfolios Tax-loss harvesting, required minimum distribution (RMDs), and qualified charitable distributions (QCDs) Reviewing medical, life, and long-term care insurance Budget and expense management + Social Security cost of living adjustments Proactively planning for down ..read more

Ever wish you could foresee financial missteps before they happen? On today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.   Here are the mistakes we’re going to talk through: I regret taking premature IRA withdrawals. I spent way too much in my peak earning years. I paid so much in tuition for the kids. I retired a bit too early and now it’s costing me. Maybe I should have investigated opportunities for Roth IRAs.   To get in touch with Mike, visit our website: http://princi ..read more

In today's episode, we're taking a close look at high-net-worth individuals - those who have accumulated significant wealth and face unique challenges and opportunities when planning for retirement. Unlike the average person, their financial considerations go beyond the basics. We'll explore the distinct strategies and factors that come into play when securing a comfortable and prosperous retirement.   Here’s some of what we discuss in this episode: How Mike would define a high-net-worth individual? Some of the complex situations that these people might run into. How we work with a clien ..read more