![Sensible Money Ranked One of Best Phoenix Financial Advisors]()
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
![Retirement Planner or Financial Planner – Which Do I Need?]()
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
![How to ‘De-risk’ Your Retirement Portfolio So it Doesn’t Take a Big Plunge]()
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.]()
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]()
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]()
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
![2018 Arizona Tax Credit Limits]()
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
![The Scoop on Fee-only Financial Advisors]()
Do you know how your financial advisor is compensated? A lot of people don’t. And maybe you don’t care. But you should. It can impact your wealth and the quality of advice you receive.
I heard about this first hand from a friend recently. She shared with me that her MBA-degreed 60 year-old-brother, Michael, admitted he didn’t know how his financial advisor Meg, affiliated with one of the country’s top brokerage firms, made her money. Michael, with $3,000,000 in investments, is a pretty savvy fellow. How could he not know how Meg earns her keep? Is she a fee-only advisor that
![Best Retirement Investments for a Steady Stream of Income]()
As you near your 60’s, your prime earning and saving years will transition into a period of time where you get to enjoy the “fruits of your labor,” a.k.a retirement. We call this segueing from accumulation to decumulation, the period when you will be drawing from your accumulated nest egg. You need to find the best retirement investments so that you can generate regular income, without having to go back to work. Here’s an overview of the most popular income-producing retirement investments.
1) Immediate Annuities
Immediate annuities provide guaranteed income immediately (hence the name). They are a form of insurance rather than
![How to Build a Retirement Portfolio That Will Stand Up Over Time]()
When working and saving, the goal of your retirement portfolio is to earn as high a rate of return as you can while not taking so much risk that it will scare you into pulling out of the market during a downturn.
Once retired, the goal changes. A different goal means a different portfolio. A retirement portfolio needs to produce reliable cash flows that last the rest of your life regardless of the variety of market conditions that occur over your retirement years.
In other words, you need a retirement portfolio that remains standing under all conditions. There are four primary ways you
