At Wealth Management Group, we don’t focus on products for retirement, but first a customized investment and retirement strategy that aim to get you retired, and stay retired. Through hard work, discipline, and a commitment to always putting our clients’ interests first, we focus on investment management, retirement cash flow, tax, estate, and retiree health care. Below, we are offering free downloads of some of our top financial insights on common investment pitfalls, 2023 Social Security facts, and 2023 Tax Planning and Strategy to help you assess your current investment and retirement strategies. We hope you find these guides helpful, and if you would like to take it a step further for a complimentary review of your current strategies, please request via the form to the right.

Your Guide to Medicare & Filling the Gaps

One of your largest retirement expenses could be your healthcare costs. A 65-year-old couple retiring in 2022 will spend an average $315,000 in health-care and medical expenses in their retirement, according to a study. Unfortunately, the Medicare system can be quite complex, leading many retirees to miss out on an accurate and comprehensive assessment of their options on an annual basis.

The Basics of the SECURE Act 2.0

Congress passed the second installment of the SECURE Act under the Omnibus Spending bill of 2023, containing major changes to the retirement planning landscape. In the past, retirees could typically rely on a pension and Social Security benefits for the rest of their lives. Today’s retirees are part of the first generation that often must fund their own retirement. Even for those who have saved diligently over many years, the threat of outliving one’s money is legitimate. Lawmakers recognized the changing needs of today’s retirees, and passed the SECURE ACT in 2019, and now the SECURE Act 2.0 in the final days of 2022.

End of Year Checklist

Here come the holidays and everything that goes with them – traveling, cooking, buying gifts, and of course, spending time with the people we love. Even though it’s a busy time of year, when finances can end up taking a back seat to decorating and wrapping presents, it’s important to take the time to make an end of year financial checklist. Check it once, twice, or however many times are necessary and review where 2022 has left you.

Millionaire Next Door

You may not think of your family as incredibly wealthy, but America is full of ‘millionaires next door.’ Financial Advisors are not just for movie stars and CEOs. They work with countless ‘millionaires next door’ each year. You’ve worked hard and saved for retirement, and now the question is how you’ll make it last for the rest of your life while maintaining the lifestyle you want.

Your Guide to Roth IRAs

An IRA is an investment account that you own that typically holds stocks, bonds, mutual funds, ETFs, and more. It is structured and regulated with limitations and tax advantages for using the account to grow a fund that is then used to provide you income in retirement. The Roth IRA is a tax-advantaged retirement account, but some of its tax advantages are structured differently than the Traditional IRA.

A Short Introduction to Long-Term Care

Americans today are living older than in the past: In 1950, life expectancy for Americans was 68 years old, and in 2023 it’s nearly 80. Of course, many people live to be older than that. In fact, the Census Bureau estimates that by 2050, Americans 90 and older will make up 10% of the population. A longer, healthier life is certainly a blessing, but it comes with extra costs that are important to consider when creating a retirement plan.

5 Keys to Retirement Planning in 2023

It’s a New Year, and that’s something to celebrate! This year is the year for a renewed focus on planning and preparation in the five key areas of retirement planning. These are the building blocks of any solid retirement plan, and this guide will detail each one. Whether 2023 is the year when you retire or not, it’s the year to create a truly comprehensive retirement plan that addresses each of these areas.

2023 Tax Planning Guide

After a tumultuous 2022, filing your taxes this year could be complicated. Maybe you stopped working, realized investment gains, created an estate plan, or went from itemizing to claiming the standard deduction or vice versa. There are many factors that can impact whether your taxes will increase and whether you need to rethink your tax strategy.

2023 Social Security Guide: Maximizing Social Security in Today’s World

Many Americans rely primarily on Social Security in retirement, and even if you don’t, you still want to know how to claim your maximum benefit. Although you will most likely not be able to maintain your current lifestyle on a Social Security benefit alone, it can make up a significant portion of your income and is guaranteed for as long as you live.

Retirement & Inflation: What to Know and How to Prepare

We saw increased government spending due to COVID, and will likely see more in the next few years, leading to more debt. Some economists theorize that this could lead to increased inflation, in the short-term, or the long-term. You may have already realized higher prices on the items you buy every week and be wondering if we’ll see the high inflation of the 1970s again.

Age 5 to 55: What Your Kids Need to Know About Finances

You taught your kids how to tie their shoes, to look both ways before crossing the street, and countless other lessons. But what have you taught them about money? Many parents may feel uncomfortable talking about the subject with their children, no matter how old they are. But, there are important lessons to teach your children about finances at any age.

Milestone Birthdays

Happy Birthday! Now the real fun begins. Before you begin planning your retirement, be sure to mark these important dates in your calendar. Starting at age 50, several birthdays – including “half-birthdays” – are critical to understand because they have implications regarding your retirement income.

Required Minimum Distributions (RMDs)

The SECURE Act 2.0 is the most significant retirement-related law seen since the initial passage of the SECURE Act in 2019. One noteworthy transformation which will influence all retirees with a standard retirement account like an IRA or 401(k) is that the age of Required Minimum Distributions has been raised from 72 to 73, with a provision that then raises the age to 75 after 2032.

The Ultimate 401(k) Guide

We all know that a 401(k) is one of the most important retirement planning tools we have. You pay into it for decades and will likely need to rely on it, among other income sources, for decades in retirement. The potential tax benefits and power of compound interest can make it a great saving and investment tool for anyone who practices financial discipline and contributes regularly.

Pensions, Buyouts, & Retirement Income

Here’s proof that funding retirement has changed: In 1970, 45% of private sector employees were covered by a pension plan. Now, 4% are covered. If workers do receive their pension, they may have to decide between receiving larger payments over their lifetime, or receiving smaller payments over their and their spouse’s lifetimes.

Preparing for a Satisfying Retirement

Many Americans may not understand how to fully take advantage of their employer-sponsored retirement plans. We’ve created this special report to help you make the most of your savings and investment opportunities and help improve your prospects for a comfortable retirement.

Market Volatility in the New Age

Planning for retirement is never a “set it and forget it” activity: There are unexpected disasters, market drops, and changing laws that invariably cause retirees to reevaluate their plans of action. There’s no way to predict everything that will cause market downturns, but you can prepare yourself by having a solid financial plan in place.

5 Ways To Stay Confident in Retirement

Today’s retirees are living longer than ever before and experiencing retirement in new ways. While you can’t be certain what the future holds, you can strategize for the retirement life you want-and take the five steps in this guide to help you get there with confidence.

Women’s Retirement Planning Guide

They say “men are from Mars and women are from Venus” and their differences carry over into financial planning. In a world where women oftentimes share, or own, the responsibilities of household finances, and often are the major “bread-winner”, it makes sense that they are adequately addressed. There are a disproportionate number of men in the financial space today, so it’s important to take a moment to address some financial needs unique to women.

Legacy & Estate Planning – Understand The Basics

Estate planning is a function of preparing for the inevitabilities of life. People get sick or hurt and you need a plan in place to determine what kind of medical care you’ll receive if this happens to you. People become incapacitated, unable to make important decisions on their own, or unable to live independently. And of course, people die. Estate planning helps to protect your family and your assets in any of these unfortunate situations.

Legacy Planning & Wealth Transfer – How to Successfully Communicate

“Communication is key” is an old phrase, but when it comes to your wealth transfer and legacy planning process, it couldn’t be more accurate. The conversations you have with your family before, during, and after this process can go a long way toward avoiding aggravation, the expense of settling matters in court, and potential infighting.

9 Investment Pitfalls

Experience has taught us that successful investing requires discipline and patience. A long-term investment focus can help when emotions run high. To help you overcome these challenges, we’ve compiled a list of common mistakes and guidelines.

Why 59 ½ is an Important Age
More than two-thirds of people this age say they expect to run out of money sometime during their retirement, even those closest to retirement. Explore your retirement options and your health-care concerns.

Our mission is to guide you towards making the right decisions for your financial future.