For Effective Planning, Learn Your Retirement Income Style Paul Fain, CFP® It is a critical question affecting one-third of your lifespan: What is your retirement income style? There is not a “right” way to generate a retirement income. The key is knowing your preferences. For example, do you prefer the stability of a guaranteed income…
Following These Steps Can Lead You to Financial Freedom Paul Fain, CFP® What is financial freedom? The answer is a slightly different picture for everyone. But there are some common characteristics. According to Dr. Brad Klontz, Psy.D., CFP and an expert in financial psychology, “What we want to focus on is that financial freedom…
How to Adjust Financial Plans In a Time of Challenges Paul Fain, CFP® “Sell crazy someplace else. We’re all stocked up here.” (Jack Nicholson in the movie “As Good as It Gets”). I decided to watch a recording of the recent presidential debate. It got crazy! Especially when two very grown men, vying for…
The Landscape of Retirement is Shifting Paul Fain, CFP® Life expectancy continues to rise, yet the COVID-19 pandemic accelerated many early retirements. The median retirement age is 62, but it is projected that two-thirds of people born today will live past age 80. Are we ready for a long retirement? The mind says “Yes!” but…
The Best Plan for Aging Well is Free Paul Fain, CFP® Aging is a funny thing. Not ha-ha funny, but more of a “Are you kidding me!?” kind of funny. For instance, I’ve got arthritis in my big toes (my BIG TOES, for crying out loud!). And why is hair falling out of my head…
Good News: Inflation is Down, the S&P 500 is Up, and Humans are Resilient Paul Fain, CFP® You can find good news, if you look for it. On the other hand, bad news is easy to find: war, inflation, the COVID-19 pandemic. Bad news is typically unexpected. Financially, bad news is often cyclical. Periods of…
Don’t Believe Everything You Hear About Money Paul Fain, CFP® When it comes to money, some people believe ridiculous things. Where do we get these money beliefs? Usually from family or society. Here are some examples: “Money can’t buy happiness.” To a degree, sure it can. While money can’t buy a feeling, having money can…
It’s always a good time to audit your retirement income strategy Paul Fain, CFP® Do you have enough money saved to retire? Are you financially independent from the need to earn a paycheck? This is some important math as the coronavirus pandemic has moved some workers into early retirement, voluntarily or involuntarily. Stated another…
Retirement is a Big Transition, so Plan Accordingly | Paul Fain, CFP® It is one of life’s biggest transitions, retirement. The pandemic has scrambled the retirement plans of many people, accelerating retirement for some, delaying it for others. In any event, the topic should raise many quantitative and qualitative questions seeking answers: What is…
What Should I Do With My Money? It Depends… | Paul Fain, CFP® From the perspective of personal financial planning, the answer to many of life’s complexities is, “It depends.” Of course, we all prefer black and white answers to important questions. But “It depends” fails to give us any certainty of outcomes. Here are…