One of the most fundamental concepts in retirement planning is the three-legged stool. Why? Go ahead and imagine a three-legged stool. It’s not a four-legged stool, it’s a three-legged stool, so every one of those legs has to be perfectly aligned for the stool to work. If you shorten one, what’s going to happen? You’re…

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The 403(b), otherwise known as a TSA or tax-sheltered annuity, is what I like to refer to as “the teacher’s 401(k)”. Now, it’s not necessarily for teachers, but the two types of organizations that can have a 403(b) are nonprofits and school boards. That’s why usually if you’re a teacher it’s very likely that you…

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When you have retirement money, meaning 401k, IRA, 403(b), or anything that hasn’t been taxed yet, you have to start taking out required minimum distributions at age 70 and a half. Now there is a law pending that might make that 72, but currently, it’s 70 and a half. More importantly, you need to take…

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Annuities have really become a hot topic nowadays and I almost feel like it’s because everybody else is bashing it and they want to get on that train of bashing annuities. And while annuities can be bad, they can also be very good and very valuable. So what I want to do today is explain…

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About six years ago, I was at the end of a long day and I was meeting with the fourth person who was getting ready to retire that day. As a fiduciary advisor, it’s my job to make sure that my clients are doing the best thing for them. I don’t do a one size…

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What does fiduciary mean? Ten or fifteen years ago, you really didn’t hear the word “fiduciary” unless people were talking about trust or things like that. But with the DOL ruling that they started to roll out a few years ago, the word fiduciary has become a hot topic, especially around finance. I think it…

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There comes a point in everybody’s life where they need their investments to start paying them. What does income have to do with this need? Income is the last of The 5 Needs of Money, and the reason I leave it for last is that most people need income on their investments when they retire.…

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One of the most important needs that everyone can easily understand is growth. A lot of times, that’s mostly what people want. They save their money, they want to see it grow, and that’s not a problem at all. What you need to know is how much risk you’re taking to get that growth. If…

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