How Much Do Our Clients Withdraw?
I won’t bury the lede; here is the data: Actual client data for portfolio sizes ranging from $1M to $6M (does not include client data for households below $1M and over $6M). Our clients do an excellent job of remaining well within the “Safe Withdrawal Zone”. Defining this Safe Withdrawal Zone is not an exact […]
Secure Act 2.0: What You Need to Know
The Secure Act 2.0 was signed into law on December 29th, 2022. SECURE stands for “Setting Every Community Up for Retirement Enhancement”. While the bill itself is not easy reading, it is important to understand the direct ways in which the legislation affects TWG clients. Below are a few provisions from the bill that impact […]
Cash or Credit? [The Real Estate Edition]
Mortgage rates are once again at their lowest point in US history: The perennial question we get from clients is whether to own their home with cash or keep a mortgage long-term. “If I can earn 7%, 8%, or even 9% annually from my investment portfolio, don’t I want as much money invested as possible?” […]
Part 3: Retirement Planning
Retirement planning means different things to different people. We all have different ideas of what life should look like after closing the chapter of our careers. However, even with countless unique perspectives, there is one statement that has applied to every person I have ever worked with: “At some point, I do not want to have to […]
On Knowing Nothing Different
Growing up, I was always intrigued by money. I liked earning it, and I really liked saving it. In May 1997, about a month shy of my 14th birthday, I biked from our family’s home in Eden Prairie over to the Chanhassen McDonald’s – a grueling one-mile ride (uphill both ways). I went with a […]
Is Maxing Out Your 401(k) Enough?
When it comes to saving for retirement, is it good enough to be maxing out your 401(k) – but saving nothing above that? As with most areas of personal finance, the answer depends on your situation. Each year, the IRS determines the maximum amount an employee can contribute to his/her 401(k). Over time, the maximum […]
Fun with Facts & Numbers
Social Security What does that mean to you? A big part of building a sound retirement plan is better understanding how much money you’ll need in retirement. While Social Security will likely be a part of your plan, it is still important to build an investment portfolio that will help sustain your lifestyle in retirement. […]
Knowing the Data
My wife and I generally agree about money. We both want to give generously to our church and other charities, we both want to save at least 15% of our income toward retirement, and we both want to have our mortgage paid off in less than 15 years from when we bought our home. If […]
Are Healthcare Costs a Retirement Killer?
One of our primary goals at The Wealth Group is to help our clients achieve financial independence at a younger age than most Americans. Financial independence doesn’t necessarily mean you retire and quit working; it just means you no longer need to keep working or saving money for the rest of your life. But for our clients in their […]
Scary Headlines
CNN Money is notorious for these sorts of headlines. These headlines are the epitome of clickbait: shock-and-awe statements designed to attract clicks and eyeballs. Clicks and eyeballs equate to revenue earned for media companies like Time Warner. That’s their endgame. But these headlines are disingenuous. It’s silly to quote long-term spending figures as a lump […]
