Sensible Money Ranked One of Best Phoenix Financial Advisors

Sensible Money Ranked One of Best Phoenix Financial Advisors

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Published: June 14, 2019

In 2019, for the third year in a row, Sensible Money was ranked by an independent rating firm, AdvisoryHQ, as one of the top ten financial advisory firms in the Phoenix and Scottsdale area. This reward does not require us to pay a fee or buy an ad in a publication. (Many “top financial advisor lists” solicit expensive ads from the firms they select.) AdvisoryHQ explains their policy as follows, “Firms do not pay for their ranking or our award emblem. In fact, most firms do not even know that they are being reviewed and ranked by AdvisoryHQ until after our reviews

Retirement Planner or Financial Planner – Which Do I Need?

Retirement Planner or Financial Planner – Which Do I Need?

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Published: June 1, 2019

There is a difference between a retirement planner and a financial planner in the same way there is a difference between a cardiologist and a family practice doctor. They both start off with the same basic training, but one has gone on to become a specialist. Financial planners are trained to help you accumulate and invest your money. Retirement planners have additional training to help you figure out how to use this money to generate reliable paychecks in retirement. Just like your heart, you need your retirement money to last the rest of your life; if there was ever a time to

Free Online Retirement Planning Class – Don’t Cheat Yourself With the 4% Rule

Free Online Retirement Planning Class – Don’t Cheat Yourself With the 4% Rule

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Published: May 30, 2019

Our next online retirement planning class, Don’t Cheat Yourself With the 4% Rule, will be Thursday, August 22, 2019. About the Class Many retirees and advisors gravitate to simple rules of thumb, like the 4% rule, which says you can safely withdraw 4% of your portfolio each year, increase that withdrawal with inflation, and expect to have your income last for life. Do such rules work? Certainly, they’re useful when you’re age 40 and planning for retirement 20 to 30 years away. But as you get closer to retirement, these rules can work against you. This class will show you what to watch out for,

How to ‘De-risk’ Your Retirement Portfolio So it Doesn’t Take a Big Plunge

How to ‘De-risk’ Your Retirement Portfolio So it Doesn’t Take a Big Plunge

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Published: March 7, 2019

We had some scary market moves at the end of 2018. But so far, in 2019, things are recovering quickly. Rather than wait for the next big bear market, why not start a de-risking strategy now? In this article, we correlate reducing portfolio risk with de-icing a car. Anybody who has lived in a cold climate knows what de-icing a car is like. If you’ve ever deiced a car you’ll get a chuckle out of this story and see how you can apply it to de-risking your retirement money. I was in my 20’s, living in Colorado (Grand Junction on the western

Taxes in Retirement. Tax Rules That Await You in Your “Golden” Years.

Taxes in Retirement. Tax Rules That Await You in Your “Golden” Years.

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Published: February 11, 2019

Retirees face new tax issues when they stop working (or start working part-time). And it affects you whether or not you change tax brackets. Once retired, many of us will have less income than we had during our peak working years. And that implies lower taxes, but most also will have multiple sources of income. And that complicates tax payments for those who are used to a single source of income. There will be Social Security income, required minimum distribution income from tax-advantaged retirement accounts and perhaps other income from investments, property, freelance or part-time work, etc. So, instead of getting a

Retire At 55? Maybe. If You’re Up for a Challenge

Retire At 55? Maybe. If You’re Up for a Challenge

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Published: February 1, 2019

It’s you’re 25 years old and contemplating retirement 30 years hence, an age 55 retirement is a possibility – if you start planning now. Put away at least $350 per month and plan on increasing that amount of savings each year. If you’re approaching age 40 (or older) and you’d like to retire by 55, it may be a bit more challenging, although in many cases it is still possible – if you’re willing to commit to the changes needed to make it happen. Of course, there is a third option that doesn’t get considered as often as it should. Find work

An Introduction to Medicare Part B Premiums

An Introduction to Medicare Part B Premiums

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Published: January 28, 2019

Everyone knows (or should know) they can sign up for Medicare at age 65. In fact, given the uncertainties regarding health insurance over the past year or so, many are chomping at the bit to get there faster. What many don’t know, though, is that there are several parts to Medicare. Part A is the more commonly known feature of Medicare. That’s the part most people are thinking about when they refer to Medicare. But there are also parts B, C and D. Here are some common questions about Medicare Part B. What is the difference between Medicare Part A and Medicare

Don’t Get Pinged by the Social Security Earnings Limit

Don’t Get Pinged by the Social Security Earnings Limit

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Published: January 4, 2019

I’d like to introduce you to Peggy. Born in 1956, Peggy reached age 62 in 2018. She has worked in retail her whole life, the past twenty-five years spent in management. Peggy divorced from her husband 14 years ago, is still single and has no children. According to the Social Security Administration, Peggy’s Full Retirement Age (FRA) will be age 66 and four months which is when she will be entitled to full Social Security retirement benefits. FRA is a government set limit that varies based on your year, month and day of birth. FRA is gradually rising, and for those

2018 Arizona Tax Credit Limits

2018 Arizona Tax Credit Limits

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Published: November 24, 2018

The Arizona State Tax Credit program allows you to make a donation to an eligible organization and receive a dollar-for-dollar credit against Arizona state taxes owed. Donating to tax credit eligible organizations will most likely leave you in a tax neutral situation – meaning you’ll pay about the same total amount whether you use the tax credits or just pay the tax. But by donating you get a say in how the money is spent by choosing which of the tax credit eligible organizations you contribute to. You can contribute up to the amount of your expected Arizona tax liability. If you

6 Smart Year-End Tax-Saving Money Moves

6 Smart Year-End Tax-Saving Money Moves

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Published: November 10, 2018

Why is it, every year after Halloween, we are “shocked” to find that we are hurtling towards December 31st? As busy as it may get at year-end, make a promise to yourself. Find a way to steal two hours from your day to focus on something that will help you save money before heading into 2019. Sit down and estimate your 2018 taxes. Once December 31st passes, there is almost nothing you can do about your tax bill. A little planning now goes a long way. When you project what your tax return will look like BEFORE the year ends, you can identify