How Much Money Do I Need to Retire?
SHP Financial Blog
by Charlie podpostmedia
1d ago
At SHP Financial, we help our clients with many common or technical questions such as, “What is a required minimum distribution?” or “What’s a Roth conversion?” However, one of the most popular questions we hear is, “How much money do I need to retire?” It’s a difficult question to answer because the magic number isn’t the same for everyone. There’s so many factors involved like inflation, bear markets and healthcare expenses to name a few, that just thinking about it is stressful and brings out a lot of fear and emotions for many people. With that in mind, today’s episode is all about the ..read more
Visit website
What is Your Plan for Life Insurance in Retirement?
SHP Financial Blog
by tara
4d ago
There are many benefits to having a life insurance policy in retirement.  It can cover estate settlement costs and final expenses, pay debt, supplement income, and more. Unfortunately, many Americans are underinsured or only have life insurance through their employer.  According to the Life Insurance Marketing and Research Association (LIMRA) 2023 Insurance Barometer Study, 54% of U.S. workers say they have life insurance through their workplace, and 67% of those people rely solely on employer-provided life insurance. [1] A person without an individual life insurance policy outside ..read more
Visit website
Top Retirement Planning Mistakes to Avoid
SHP Financial Blog
by Rebecca Mack
1w ago
Everyone makes mistakes. This includes individuals with considerable accumulated wealth, those with fewer resources, and even the most careful planners. Retirement planning is a complex process with pitfalls that can have long-term financial effects. Getting established with a financial advisor can help savers avoid missteps. Visual Capitalist published the most common errors near-retirees make according to 2,700 surveyed financial professionals. These are at the top of the list [1]: Underestimating the Impact of Inflation Visual Capitalist reported that 49% of the surveyed professionals iden ..read more
Visit website
Accounting for Inflation in Retirement Planning
SHP Financial Blog
by Rebecca Mack
2w ago
The money individuals save today will buy less in the future. The cup of coffee that cost $1.00 at one point in time, costs $5.00 today. Inflation compounds over time. It’s a hard truth every earner encounters. In 2022, inflation hit a 40-year high, and consumer prices rose 8.5%, according to the U.S. Bureau of Labor and Statistics. [1] An underfunded retirement savings can jeopardize financial security in the later stages of life. A financial advisor can help investors understand the impact of inflation on retirement income and implement strategies to mitigate it.  Understanding Inflati ..read more
Visit website
What Is the Cost of Long-Term Care?
SHP Financial Blog
by Rebecca Mack
3w ago
Visions of life in retirement may include days filled with travel, recreation, relaxation, and pursuing lifelong passions. Those who have been diligently saving and planning for these days may feel confident in their ability to achieve their dream retirement. But, many retirees are not adequately prepared for what comes later when long-term care becomes a reality. With people living longer on average, the necessity for long-term care is likely. Long-term care can be costly and emotionally taxing whether it’s for in-home aid, an assisted-living facility, or a nursing home. While it is not chee ..read more
Visit website
The Tax Implications of an Inheritance for Beneficiaries with Mark Kenney & Amanda Glennon – Ep 056
SHP Financial Blog
by tara
1M ago
Losing a loved one is one of the most challenging and emotional periods in anyone’s life. When assets, such as property and investments, are left to their beneficiaries, many families have a difficult time knowing where and how to start the process of settling the estate. In today’s episode, we’ll focus on estate planning, specifically the responsibilities and tax implications that a beneficiary has when they inherit those assets. I’m joined by our very own Mark Kenney and Amanda Glennon, who both have years of experience guiding families through this process to ensure that the actions and ..read more
Visit website
How Often Should You Meet with Your Retirement Planning Advisor?
SHP Financial Blog
by tara
1M ago
As part of regularly scheduled maintenance, there are things people should do monthly, annually, and seasonally: dental cleanings every four to six months, oil changes at 7,500 miles or so, and an annual physical. Wealth management is no different. An investor should have regularly scheduled meetings with their advisor to ensure that the portfolio is in step with both long and short-term financial goals. But how often should those meetings occur? The answer isn’t so simple. It depends on various factors, including life circumstances, financial goals, and the financial complexity of the portfo ..read more
Visit website
How to Break Up with Your Financial Advisor
SHP Financial Blog
by Jamie Fallon
1M ago
Some relationships weren’t meant to be. Investors should prioritize their financial well-being, and if they feel uncomfortable with their advisor’s communication, service level, or strategy, they should move on. In a long-established relationship, an advisor would have intimate knowledge of a client’s financial and personal information. They would know about developments in their client’s lives. They might have even formed a friendship. By being upfront and saying goodbye with consideration, professionalism, and mutual respect, investors can achieve a clean break that is both guilt and hassle ..read more
Visit website
SHP’s Philosophy on Financial Planning & Asset Management with William Malagodi – Ep 055
SHP Financial Blog
by Charlie podpostmedia
1M ago
In early 2023, SHP Financial passed the $1 billion threshold in AUM, or assets under management. If you’ve ever wondered what goes into running a firm of this size, how we choose our managers, and how we help our clients create comprehensive financial plans, today’s episode is for you. Today’s guest is William Malagodi. William has extensive experience building out hugely successful firms. In this conversation, we explore the art of manager selection, how we manage our day to day operations, and go above and beyond to deliver for our clients. In this podcast interview, you’ll learn: How f ..read more
Visit website
When Should You Break-Up With Your Financial Planner?
SHP Financial Blog
by tara
1M ago
  Today’s investments can impact the lifestyle and livelihood investors experience down the road. It wouldn’t be inaccurate to suggest that financial planners hold their client’s futures in their hands. Investors should take their relationship with their financial planner as seriously as they take their money. Like any relationship, sometimes it works, others it doesn’t, and sometimes, what initially was a match made in heaven does not stand the test of time. If that time comes, investors need to recognize it and do the hard thing—break up with their financial planner and play the field ..read more
Visit website

Follow SHP Financial Blog on FeedSpot

Continue with Google
Continue with Apple
OR