Retirement

There’s an old trope in the financial planning industry — Nobody likes to work with engineers.

They say engineers ask too many questions. They come in with complex plans for exactly when and how they should retire to maximize their post-career income. They have dozens of spreadsheets taped together detailing every cent of their savings and budgets and interest payment projections. Heck, I’ve seen it myself. They’re trying to play financial advisor for the first time, and I can tell you that it’s not an easy job.

But at Family Financial Partners, we love working with engineers.

• October 12, 2023

We’ve been talking a lot around here about the rise of interest rates and its effect on everything from markets to loans, but an under-discussed aspect of rate hikes is the effect on your retirement. 

• May 2, 2023

This weekend we’re looking forward to celebrating the July 4^th holiday and America’s independence, as I’m sure you are as well. This always gets me thinking about personal financial independence and freedom, especially as many of us work toward the American dream of a comfortable retirement. 

Speaking of retirement, you may notice a new income projection shown in the quarterly statements you receive from your employer-sponsored 401(k) plan. Known as the Lifetime Income Disclosure, this estimates the monthly payments to you and/or your spouse after you retire. The idea is that, just as you can look at your Social Security statement and determine the best time to take that benefit, you can now look at your retirement statement and have the same knowledge of what your income will look like at the age you decide to retire. 

• June 30, 2022

So you’re finally ready to take the plunge and retire, but first you need to hire a financial advisor to help you navigate this process. Choosing someone to manage your money is an important task that can be daunting. Wondering where to start? These five questions will help you determine if a potential advisor is right for you.

• July 14, 2021

What comes to mind when you think about replacing your roof? Spending money you’d rather spend elsewhere? Tedious decisions such as tile versus shingles or metal? Now think about remodeling your entire home. Are you picturing yourself in a comfortable new oasis that suits your every need? We thought so.

• July 1, 2021

For many of you, the word “retirement” probably seems far off and foreign, if not downright scary. As company pensions have disappeared in recent years, the gauntlet of saving for retirement has fallen solely on the individual employees. That means we are hearing more and more people answer the simple question of how long they plan to keep working with, “I’m going to work forever – or until I can’t.”

• May 26, 2021

Many client families can walk into our office and can tell us precisely at what age they want to retire, and how much money they’re going to need to do so. Many people are confident about those two factors. However, when those statements end, that’s when the questions begin! These folks might know when and how much, but when pressed about what they’ll actually do in retirement, well, that’s when things start to fall apart.

• April 28, 2021

There’s a question I’m frequently asked by clients who are reaching a certain age, and I’m hearing it now especially from folks who aren’t sure about heading back into an office post-pandemic: How much longer should I work? Many folks are thinking differently about their daily working life after a year of working from home, or perhaps having to change jobs into something less fulfilling.

• April 21, 2021