Inland Financial Planning
Cullen Financial Planning LLC dba Inland Financial Planning. Only and always a fiduciary.
Committed to helping clients define and achieve financial goals through transparent, fiduciary-based advice and investment management.
This Labor Day, we're pausing to say a huge thank you to our incredible clients. Your support and partnership make our work truly rewarding š
In celebration of the holiday, our office will be closed on Monday, September 2, but we'll be back on Tuesday, September 3, ready to assist you.
Wishing you all a Labor Day filled with fun, joy, and relaxation.
https://my.dimensional.com/one-pagers/heres-why-you-should-invest-in-all-the-sectors-not-just-one
Frequently referred to as a "quilt chart", charts like these are helpful reminders that "sector-betting" requires a lot of skill (or luck!) to consistently guess winners and losers.
Yes, the "market" is down, but have your goals changed?
As many know, market fluctuations can unexpectedly affect your retirement savings. One way to combat this risk is by transitioning to a more conservative investing approach as a person nears retirement.
However, as inflationary pressures have reinforced over the last few years, itās essential to balance a less risky approach with the need for long-term growth to keep up purchasing power.
It can be a tricky balance to strike but one that our team is adept at navigating. With that in mind, do not hesitate to reach out to our team for guidance on managing market risks and securing your financial future as retirement approaches. We are here to help.
I originally posed this question in 2017. Time for a follow-up: where do you think we are in the "cycle"?
As our nation pauses to celebrate July 4, we are sending each of you our warmest wishes for a memorable holiday.
Whether you are planning to enjoy a barbecue, marvel at the fireworks, or spend quality time with loved ones, we hope your day is full of fun, rest, and reflection.
Please note that our office will be closed in observance of Independence Day. Enjoy the holiday, and stay safe.
Selecting the right retirement plan for your employees is a crucial decision that can greatly impact their financial well-being in the long term. Thatās why our team is here to guide you through the world of 401(k) plans! š¼
Swipe through to explore the different options available. And, as always, if you have questions about your options, donāt hesitate to reach out. Our team is here to help.
Many of us have heard the acronyms āCPI,ā āPCE, and āPPIā a lot over the last several years, especially during the Federal Reserveās historic rate hike campaign. But do you know what these terms mean?
If not, youāre far from alone. Weāve talked with countless others who, often quietly, acknowledge they donāt really understand what these three acronyms mean.
To help, weāre defining these terms for you all today. Have questions? Reach out to our team of experts anytime. Thatās what weāre here for.
Are you on track for a comfortable retirement? It's time to rethink the old $1 million savings goal and adapt to today's economic realities. Here are three key points to consider:
š Location Matters: Your retirement destination can greatly affect how long your savings last. For example, $1 million could last about 22.7 years in Mississippi, around 19.8 years in North Carolina, but just over a decade in Hawaii. With average retirement lengths of 18.6 years for men and 21.3 for women, choosing the right location is crucial.
š¤ Define āComfortableā: What does a comfortable retirement mean to you? A serene life in a small town or an adventurous journey around the globe? Your vision of retirement significantly influences your financial needs.
š° Stay Consistent: Whether retirement is just around the corner or years away, regular contributions to your savings, no matter how small, can make a big difference over time.
With proper planning and expert advice, you can tailor your investments to fit your retirement dreams. Unsure if your current plan is on track? Weāre here to help refine your strategy. Reach out for a chat ā let's make your golden years truly golden!
Most of us have them...those regrettable financial decisions whereby we "paid for our education"! Mine was a 1972 Toyota Landcruiser. Loved that car but was not ideal for a 21 year old who was ill-prepared for a money pit! I should have bought a Honda Civic and called it a day! Care to share your "What was I thinking" money regret?
āWhat Was I Thinking?ā The Big-Ticket Items People Regret People spend a lot of money on all sorts of things, only to later ask themselves: Why?
A captivating headline, but the moral of the story is that retirement planning, like all financial planning, must be personalized. Someone else's "number" is probably not yours.
The New Magic Number for Retirement Is $1.46 Million. Hereās What It Tells Us. There is no single formula for how much you need to save in your 401(k).
As we dive into 2024, it's a golden opportunity to reflect on the twists and turns of 2023 that could warrant a retirement plan review š
Here's a quick checklist to ensure your plan accurately mirrors your current situation:
š¹ Life Changes - Significant life changes, such as marriage, divorce, the arrival of a new family member, or alterations in your income, can have a profound impact on your financial goals. It's essential to assess your retirement plan and make any necessary adjustments to align it with your evolving circumstances.
š Risk Tolerance Shifts - Different stages of life bring different levels of risk tolerance, and changes in goals may cause changes to your risk tolerance as well. With that in mind, itās a good idea to regularly evaluate your risk tolerance in relation to your retirement plan.
š§¾ Tax Considerations: Tax laws can undergo annual modifications, influencing the financial aspects of your retirement plan. If your financial situation has evolved, these changes may have a notable impact on your overall retirement strategy.
This checklist provides a general overview, but weāre here to offer personalized guidance. Feel free to send us a message or call the office to discuss!
Itās important to align your savings strategy with the latest changes to retirement contribution limits. Here's an overview of what you need to know for 2024:
š For 401(k), 403(b), 457 Plans & Thrift Savings Plan:
- New Contribution Limit: $23,000 (up from $22,500 last year)
- 50+ Age Catch-Up: Still at $7,500, making the max contribution $30,500
š° For Traditional & Roth IRAs:
- Increased Contribution Limit: Now $7,000 (previously $6,500)
- 50+ Additional Catch-Up: Remains $1,000, totaling max of $8,000
š Roth IRA Income Phase-Out Range:
- Single Filers/Heads of Household: Between $146,000 and $161,000
- Married Filing Jointly: Between $230,000 and $240,000
If you're unsure about how these changes impact you, weāre here to help. Reach out anytime for guidance on your 2024 retirement savings strategy!
The tax filing deadline for S corps and partnerships is just around the corner for calendar year businesses ā March 15 šļøš¢ Fiscal year businesses need to file by the 15th day of the third month following the close of your tax year.
Be sure to file on time to avoid any late-filing penalties and keep your business in good standing with the IRS.
Haven't started yet? Reach out to our team as soon as possible; weād love to help you out!
2023 was quite the year for the U.S. financial markets! To help you enter 2024 with confidence and clarity, weāre sharing an overview of last yearās key developments and an outlook of what may be to come in 2024.
Swipe through to learn more ā”ļø and spread the knowledge by sharing this post with your network.
"Across the two years that follow a recessionās onset, equities have a history of positive performance. Data covering the past centuryās 16 US recessions show that investors tended to be rewarded for sticking with stocks. In 12 of the 16 instances, or 75% of the time, returns on stocks were positive two years after a recession began (See Below)"
Long-Term Investors, Donāt Let a Recession Faze You | Dimensional In the past century, there have been 15 recessions in the US. In 11 of them, stock returns were positive two years after the recession began.
Worth a 5 minute read.
You Know More about Investing than You Think You Do | Dimensional We can learn a lot about investing simply by looking to the lessons that life teaches us every day.
I'm not a "perma-bull", but I do have confidence in statistics and probabilities which helps remind clients (and myself) that the market goes up more often than it goes down.
Considering that 11 of the last 14 times the Fed has raised rates were followed by a recession leads me to believe there's a better than "good" chance a recession is coming. I happened to be in the camp that thought it "should" have already happened. Time will tell.
Economist David Rosenberg says a recession will hit in 6 months. Here are his 7 best quotes from a new interview. The Rosenberg Research president explained his grim economic outlook in a new interview. These are the biggest takeaways.
Good thing or bad thing? Kinda depends on your tax bracket...
IRS announces changes impacting catch-up contributions The IRS announced a delay for changes under the Secure 2.0 Act to Americans' catch-up contributions to retirement accounts, allowing those to be made on a pretax basis through 2025.
The S&P 500 is up over 1% today despite a cooling labor market. What gives? Short version: the market is hoping the Federal Reserve will stop raising short-term interest rates. Do you think the Fed has overplayed its hand by "raising too far, too fast"?
Job Openings Slip in Latest Sign Labor Market Is Gradually Slowing Job openings declined in July to the lowest level since March 2021, another sign the solid labor market is gradually cooling.
https://www.cnn.com/2023/06/15/success/401k-savings-participant-behavior-vanguard/index.html
Sobering reminder that saving for the future comes at the cost of delayed gratification today, and many either can't or won't make that trade-off.
New report flashes a warning light over 401(k) account balances | CNN Business The average balance in employer-sponsored savings plans last year was $112,572 ā well below the $141,542 recorded in 2021.
Volatility has returned to the market. This is a great reminder to "stay in your seat"!
The Cost of Trying to Time the Market The effect of being out of the market for even a short time can be profoundāmissing a period of strong returns can drastically impact overall performance.
Persistent Inflation and Bank Failures -
Persistent Inflation and Bank Failures DearĀ , Inflation is persistent - you notice it at the grocery store and gas pump.Ā The Fed has signaled that it is committed to raising borrowing rates to combat inflation, however, recent bank failures such as Silicon Valley Bank may be proving that inadvertent effects of rate incre...
Fantastic piece by David Booth. Worth a 5 minute read to be reminded of some key tenets of market investing.
People Have Memories. Markets Donāt. | Dimensional Donāt begin the new year bogged down by what happened last year. Instead, give yourself the opportunity to start fresh.
The cure to high prices is high prices...seems that inflation is moving in the right direction but we're not out of the woods yet.
Shopper Rebellion Against Higher Prices Helps Slow Inflation Companies are hitting the brakes on price increases this year after wary consumers limit their buying. āThey want to save money and raising prices is not an option.ā
Your Investing Strategy Just Failed. Itās Time to Double Down. The standard portfolio of 60% stocks and 40% bonds just delivered one of its worst years in history. That doesnāt mean itās a bad approach.
Don't abandon ship quite yet! Great article about bond investing and the traditional "60/40" portfolio. "Stocks normally go upābut not always. Bonds normally are saferābut not always. Nothing in financial markets is constant or permanent."
Your Investing Strategy Just Failed. Itās Time to Double Down. The standard portfolio of 60% stocks and 40% bonds just delivered one of its worst years in history. That doesnāt mean itās a bad approach.
My briefcase is a bit lighter today. For the past 2 years, I carried with me study materials wherever I went, stealing 15 minutes here or there to review coursework. Iām excited to announce that I passed the Certified Financial PlannerTM exam last week.
It was a difficult process, but Iām reminded of a few truths:
1. Anything worth doing in the name of betterment is or should be difficult
2. My wife is incredibly gracious and sacrificing to support the nights and weekend spent in the coursework and exam review
3. God is merciful to the stubborn and stiff-necked sinners, of whom I am the foremost
Passing this exam is especially sweet in light of the fact that I delayed completing the coursework in order to establish my own firm and transfer clients over. My clients have been absolutely amazing and loyal through the conversion and more recently, the volatile market in 2022.
Not especially profound, but every bit relevant in these turbulent market times.
The Uncommon Average The Uncommon Average
You havenāt ālostā money until you sell. Itās not fun seeing negative performance, but remember the big picture.
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About Rich Cullen
Committed to helping clients define and achieve financial goals through transparent, fiduciary-based advice and investment management.
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