Cale Morin, CPA, CFP - Financial Advisor

I think that this article gets at the heart of how a holistic financial plan based on your life goals (not just your investment goals) can help you navigate the challenges that life throws at you.

Financial Planning vs. Investment Strategy: Which Is More Important? If your experience with your financial adviser has been all about focusing on investment management rather than on holistic financial planning, you might want to consider a different approach.

While there's no way of knowing what the impact of taxes will be on your retirement, there are strategies that you can use to help minimize the impact. If you need help with your strategy, let's talk.

4 Ways Taxes Could Burst Your Retirement Bubble (and What to Do About Them) Making your retirement plan more tax efficient now, says financial planner Shawn Mueller, can potentially save you some big tax headaches (and bills!) later.

Here's an overview of Capital Gains tax rates for 2022 vs. 2023. If you need help with your 2023 financial strategy, let's talk.

What Are the Capital Gains Tax Rates for 2022 vs. 2023? The capital gains tax rate that applies to a capital gain depends on the type of asset, your taxable income, and how long you held the property sold.

Understanding the best way to utilize debt and credit can help you avoid unnecessary fees, taxes, or selling securities during a down market.

The Power of Debt: It Isn’t All Bad | Kiplinger We hear the warnings constantly: Debt will ruin your finances. The reality is that some debt isn’t bad. In fact, a securities-backed line of credit can be a potent wealth-building tool for certain folks.

The last 2 weeks have not been fun for most investors. Here is your reminder to stop worrying about things you CAN NOT control and focus those efforts on things you CAN control.

Things you CAN NOT control:

-Market moves
-Inflation
-Fed interest rate decisions
-Earnings reports

Things you CAN control:

-Savings rate
-Asset allocation
-Tax planning
-Your emotions

Controlling emotions is typically the hardest thing for investors. The best way to fix this?

Have a plan. If you don't, lets talk!

Every time I sit down with a new client we discuss their financial goals. Many of my younger clients mention one of their biggest goals is to be debt free.

I ask why and usually hear, "My parents/uncle/neighbor/Dave Ramsey told me that debt is bad."

This leads to the conversation of good debt vs. bad debt.

Older folks, who young professionals and families typically look to for advice, were buying their first home in the 80's or 90's. Interest rates on a 30-year fixed in the early 80's were 15% or more. In the early 90's they hovered around 10%.

Many people took advantage of the low rates in 2020 & 2021 and refinanced to 3-4%. This shouldn't be tossed into the same category as a 25% APR credit card!

All in all, not all debt is created equal. Using debt effectively and carefully can actually be a great wealth creation tool.

30 year fixed rates Source: (https://hearsay.social/3QfcOR8)

Years ago premium financing was a tool typically reserved for the ultra-high-net-worth. The game has changed and this strategy is now available for a much larger group.

This strategy involves leverage and the risks associated with it. Make sure to talk with a trusted advisor & tax professional.

Premium Financing Video

A new way to look at retirement strategy and great advice for finding the right advisor for you.

Create Your Own ‘Retirement Symphony’ | Kiplinger A successful retirement plan surprisingly has quite a bit in common with a symphony orchestra. Get your own plan in harmony with these three tips.

Lots of great strategies in this article, but it's a long term financial plan that's going to help you meet any generational wealth transfer goals. If you'd like to learn more, let's talk.

How to Build Generational Wealth The so-called Great Wealth Transfer is underway. More than 10,000 baby boomers are turning 65 every day, and over the next 20 to 30 years trillions of dollars' worth of wealth will transfer to the next generation or generations. Your ability to participate in … Continue reading → The post How to...

Having a retirement income strategy is just as important as having a retirement savings strategy. If these market fluctuations have you struggling with your retirement income strategy, I can help.

Should Retirees Stay Invested and Ride Out These Volatile Times? | Kiplinger If the markets’ ups and downs have you feeling sick, it’s time to take stock of your whole financial picture. Here are five pieces of that puzzle to help guide your decision.

You invest your time and money into building your business; don't neglect building a succession strategy as well. A succession strategy can not only help ensure business continuation - it's the foundation of your own personal retirement strategy.

What’s My Business Worth? 9 Reasons Why Owners Should Get a Business Valuation An independent appraisal can be a starting point for long-term planning--or a needed reality check

Your retirement savings should include 3 buckets: taxable, tax-deferred and tax-exempt. If you're wondering what types of savings make up tax-exempt, read on. If your savings doesn't include multiple "buckets", let's talk.

Are You Maximizing Your Tax-Exempt Bucket? | Kiplinger Remember the child’s game hide-and- seek? As adults, most of us are still playing it. The difference is this time it’s with the IRS.

Cale Morin, CPA, CFP - Financial Advisor updated their website address.

Excited to share that I passed the March 2022 CFP® Exam! Feeling very grateful that I am surrounded by such a great team that helped me along the way.

Taking withdrawals during a market downturn can be a big hit to your portfolio. If you are retired or retiring soon and need help managing that risk, let me know.

Don’t Let a Stock Market Decline Ruin Your Retirement | Kiplinger When portfolio losses hit at the same time as withdrawals, it’s a double whammy. Here’s how to mitigate the risk.

In the midst of market volatility, it can be easy to forget that we've been through this before. You don't have to navigate market volatility alone. Let me know if you need some help.

Two years ago stocks dropped 12% in a single day. Here are lessons investors learned that can still apply The initial onset of Covid-19 sent shocks through U.S. markets in 2020. Here's what investors can still take from that experience today.

The Fear & Greed index moved from "fear" at yesterday's close to "extreme fear" today.

With that being the case, I think it is extremely important for investors to think about the difference between volatility and risk. Volatility is your portfolio having significant swings in a short period of time, whether that be an increase or decrease in value.

Volatility is not the problem!

Risk, if not properly accounted for can be a problem. Risk is you needing to sell off in a bear market because you don't have a proper emergency reserve in place, or any buffer assets.

Volatility is not the enemy, as long as you have properly planned.

Thoughts?

Stock Market Today: Russia-Ukraine Escalation Knocks S&P Into Correction - if you need help with your investment strategy, don't hesitate to contact me.

Stock Market Today: Russia-Ukraine Escalation Knocks S&P Into Correction | Kiplinger The S&P 500 officially is off by more than 10% from its January highs as Russian troops enter Ukraine and world leaders respond with sanctions.

We all procrastinate sometimes, but your financial strategy can impact your dreams - don't put off creating a financial plan!

Stop Procrastinating on Your Retirement Plan! Here’s How | Kiplinger Do you drag your feet when it comes to your finances and retirement savings? It’s an all-too-common problem. Here are some tips to help fix it.

If you are getting nervous about market volatility, talk with an advisor like me. Times of economic uncertainty are stressful, and having an advisor to remind you of your financial goals and help you stick to your plan can provide some emotional relief.

Volatility Is Back: What to Do Next to Protect Your Retirement from Market Risk | Kiplinger After a summer of relative calm, worries over a future market crash have reached their highest levels in 2021. Here are some ideas to help safeguard your retirement.

Great reminder of what a little planning can do to help your bottom line!

Taxes May Be a Certainty – But the Amount You Pay Doesn’t Have to Be | Kiplinger You do have some control over how much income tax you owe – if you don’t wait until Tax Day to start exploring your options. Take some steps before the end of the year, and you may be pleasantly surprised.

You always hear the old saying, "Buy low, sell high" when it comes to investing.

But as we approach the end of the year, it may be worth taking a look at "selling low".

That's right!

Tax loss harvesting is a tool that can be used to help lower your tax bill. Tax loss harvesting involves selling assets at a loss, which is then used to offset capital gains on assets you sold for a profit.

If you decide to do some selling, make sure you are aware of the Wash Sale Rule. If you buy that same stock back too early, the IRS will not allow you to take the previous loss.

Questions? Feel free to reach out!

Don't think about your taxes as business as usual this year - you may want to talk with your tax advisor about your tax management strategies before you actually implement them.

Year-End Tax Planning Comes with a Twist in 2021 | Kiplinger Some of the most common strategies people use to hold their taxes down are being turned on their ears this year, thanks to possible changes in tax laws on the horizon.

This article is a great reminder that any kind of financial plan should be a living plan that you and your advisor update regularly to meet your changing goals. It's a more realistic approach to financial goal planning.

Don't Get Too Hung Up on a Retirement Savings Number | Kiplinger There's tons of advice about how big your nest egg should be for retirement but focusing too much on a single figure can lead to complacency.

If you are self-employed or have started a side hustle, there are some tax-advantaged savings plans available - even if you are the only participant! If you are looking for tax-savings options for 2022, let's talk.

Boost Your Retirement Savings for 2022 | Kiplinger If you were self-employed or had a side hustle in 2021, you can save even more in a tax-advantaged account.

Banking on social security to help fund your retirement? You may want to think twice.

The projected 75-year shortfall in the Social Security Trust fund has tripled in the last 10 years.

The 2011 Trustees Report forecasted a $6.5 trillion present value shortfall between payroll taxes anticipated to be collected and projected benefits to be paid out over the next 75 years.

The 2021 report, released 8/31/21, now projects the present value shortfall to be $19.8 trillion. (source: 2021 Trustees Report, https://www.ssa.gov/OACT/TR/2021).

With pensions less common, and the social security shortfall, retirement planning is becoming more important for the individual. If you aren't sure if you're doing enough, lets talk.

The 2021 OASDI Trustees Report 2021 Trustees Report

How has the pandemic impacted your financial habits and long-term plans?

Financial Fixes to Make after the Pandemic | Kiplinger Now is a good time to reflect on what the COVID-19 pandemic has done to your finances (and surprise, there may be some good news here) and to your priorities themselves. After giving it some thought, here’s what you should do going forward.

It's never too late to start saving! Hope this article inspires, and if you need some help with an investment and savings strategy, let me know.

The Number of 401(k) Millionaires Just Reached a New Record High The average retirement account balance is at an all-time high as well.

Inflation was 5.4% over the last 12 months (https://www.bls.gov/cpi/).

My bank pays me a whopping 0.02% interest on my savings account.

The real rate of return on my cash sitting in the bank was -5.1%.

Sure there is risk in investing, but there is also risk in sitting on cash.

The tax landscape is shifting, and unless you can predict the future you may find taxes taking a larger bite out of your retirement than you expected. If you need help understanding the impact of taxes on your retirement plan, let me know.

7 Ways to Prepare for Higher Taxes | Kiplinger The tax climate is changing, and your retirement planning strategies could use some tweaks to stay on top of the situation.

The Congressional Budget Office (CBO) recently forecasted the following:

Fiscal year 2021: The US government will receive $3.8 trillion of tax revenue, spend $6.8 trillion, resulting in a $3.0 trillion deficit.

During the next 10 fiscal years: The US government is projected
to receive $51.3 trillion of tax revenue, spend $63.4 trillion, resulting in a $12.1 trillion deficit over the next decade (source: CBO).

Are your investments correctly positioned for the current and future landscape of taxes?

Significant estate tax changes are in the works and colliding with a $68 trillion wealth transfer. If you're concerned about estate taxes, there are strategies to help mitigate the impact - let's talk.

Are you prepared for tax impact of the $68 trillion great wealth transfer? Here are some options to reduce the bite The great wealth transfer is underway, with $68 trillion at stake. These estate-planning strategies may lessen the tax bite, according to financial experts.

Are you benefiting from the magic of compound interest? Starting to save for retirement in your 20s can translate to more money for your retirement.

How to Win at Retirement Savings While most workers are responsible for their own retirement savings these days, high schools don’t have required classes on 401(k)s and Individual Retirement Accounts (I.R.A.s). And colleges usually don’t teach anything about Roth I.R.A.s or 403(b)s. That’s where we come in. Here is what you n...

Talking with aging parents about their financial health can be as difficult - sometimes more difficult - than talking about their physical health. Here are some tips when it comes to that conversation.

Council Post: Tips For Caring For The Financial Health Of Aging Parents These are tough but necessary conversations.

If you've ever wondered what it means to work with a financial planner, take a look at this article. It does a great job of articulating the value of working with a planner and why we as planners are so passionate about what we do.

Council Post: Where Is The Value In Financial Planning? Where is the true value in financial planning?

How do you help your kids become financially confident and independent? In addition to the ideas in this article I'd suggest including your older children in some of your conversations with your financial advisor - it's a great introduction to the type of planning they'll need as adults.

5 Strategies to Teach Kids Financial Independence | Kiplinger Passing down your financial know-how is an important job for parents, grandparents, aunts and uncles, but it’s easier said than done. Here are five practical ways to help ensure the next generation is equipped to thrive.

An example of why I love what I do:

I got a call from a client yesterday and I could hear the excitement in his voice from the start. He couldn't wait to tell me about the new job he was just offered. We also got an opportunity to talk about some other things he is excited for in the future, both personally and professionally.

The opportunity for me to be a part of these big moments in my clients lives is such a rewarding experience. I feel extremely lucky to be able to share that excitement with them.

Hope everyone has a fantastic weekend!

If you're leaving or have left a job that included a 401(k), you have options. Contact me if you'd like some help determining your next steps.

Deciding What To Do With The 401(k)s You Left Behind Just because you can’t contribute to a former employer’s 401(k) doesn’t mean you have to take your money out of the plan.

Looks like growth stocks heard me talking smack on my post from last Friday! (Returns from Morningstar as of 3:20PM CST 3/9/21)

The last 2 weeks have been tough for growth stocks. If you're feeling more anxious than excited about your current financial plan (or if you don't have a plan at all) we should chat!