Financial Consulate

You've been putting money into your 401(k) for decades. But here's what gets overlooked: once you retire, that money needs to last 30+ years.

The withdrawal order matters. Pull from taxable accounts first, and you give your tax-deferred money more time to grow. Wait too long to tap your Roth, and you miss out on years of tax-free income.

This isn't something to figure out on the fly. We map out withdrawal sequences during the Financial Physical® so you know exactly where your income will come from each year.

Want to see what your retirement income strategy looks like with real numbers? Visit financialconsulate.com to schedule an intro call.

One of the biggest retirement expenses people underestimate? Healthcare.

A healthy 65-year-old couple retiring today could spend $300,000 or more on healthcare throughout retirement. That's not a worst-case scenario. That's average.

And if you need long-term care at some point, whether it's in-home help or a nursing facility, those costs can run $100,000 a year or more.

The mistake is assuming Medicare will handle it all and not building those costs into your retirement income plan.

We factor healthcare expenses into every retirement projection we build during our Financial Physical®. If you're not sure whether your plan accounts for this, let's talk.

Is your financial advisor truly earning their fee, or are you just riding a rising market? In our latest article, Drew Tignanelli reviews the "My Guy" syndrome and explains what true, comprehensive financial planning should look like.

My Guy or Gal | Financial Consulate Are you paying 1% for investments only? Drew Tignanelli, CPA, CFP®, on why a comprehensive fee-only wealth advisor may offer more than the "My Guy" model.

Did you know you might be eligible for benefits based on an ex-spouse's work record? Many women are unaware of these specific rules that can bolster their retirement income.

▪️ 𝗧𝗵𝗲 𝟭𝟬 𝗬𝗲𝗮𝗿 𝗥𝘂𝗹𝗲: If you were married for at least 10 years and are currently unmarried, you may qualify.
▪️ 𝟱𝟬% 𝗣𝗮𝘆𝗼𝘂𝘁: You could receive up to 50% of your ex-spouse’s benefit if it is higher than your own.
▪️ 𝗣𝗿𝗶𝘃𝗮𝗰𝘆 𝗚𝘂𝗮𝗿𝗮𝗻𝘁𝗲𝗲𝗱: Your ex-spouse is not notified when you claim these benefits, and it does not impact their own payout.
▪️ 𝗦𝘂𝗿𝘃𝗶𝘃𝗼𝗿 𝗢𝗽𝘁𝗶𝗼𝗻𝘀: If an ex-spouse passes away, you may be eligible for survivor benefits of up to 100%.

Knowledge is power when it comes to retirement planning.