Carnegie Investment Counsel Blog

 

Gary Wagner

Recent Posts

7 Things to Consider When Deciding to Move in Retirement

Posted by Gary Wagner on Jan 12, 2021 1:30:00 PM

Smiling faces…sunny places. You’ve seen the pictures of those folks who appear to be in their 60s or 70s hanging out at the pool or walking on the beach. They live in a climate that the local chamber of commerce touts in all their advertisements. You wonder if this could be you in an ideal retirement scenario.

In general, family responsibilities and employment opportunities are the biggest determinants of where people live. As you approach retirement age, though, these factors may diminish in importance. In fact, retirement may represent a new level of freedom to choose your residence that you never had before.

But there are many questions you, or you and your spouse must answer before the moving truck arrives to haul all your worldly possessions to a new address.
What considerations should you ponder before you move? What factors will help guide your decision? Even when you conclude that a move to a new location is your best choice, what might hold you back?

Read More

Topics: Retirement

What’s on Your Bucket List and How Do You Achieve Those Dreams Financially?

Posted by Gary Wagner on Nov 12, 2020 4:00:00 PM

Do you have a personal bucket list or a roster of things to do before you die (or “kick the bucket”)? What’s the value of such a list? Why do many people create an inventory of things to accomplish during their lifetimes? How do you conceive a bucket list for yourself or with your loved ones?

Today, some people begin creating their bucket list earlier in life, possibly merging their list or revising it with a spouse in later years. Others do not even begin considering their lifetime goals until middle age or as retirement beckons. In recent months, the pandemic has made exotic travel even more of an aspirational future dream but still bucket-list worthy. 

Your bucket list can take many different forms, but the underlying design will always revolve around your aspirations and subsequent achievements. Here we also provide advice on how to plan for your bucket list items financially.

Read More

Topics: Financial Planning

When Is it Time to Hire a Financial Advisor? How Do Their Fees Work?

Posted by Gary Wagner on Oct 9, 2020 10:30:00 AM

There is no specific timeline to help guide your journey to financial well-being. As such, there are no hard and fast rules that will determine the best time to engage a financial professional to help manage your assets. 

Many people feel that they can manage their investment portfolios on their own in spite of a lack of overall financial literacy or training. As your nest egg grows and your situation becomes more complicated though, you may find yourself in need of an all-encompassing financial game plan. Finding an advisor with whom you can develop a long-term relationship can go a long way toward meeting your financial goals.


Read More

Topics: Financial Planning

Will You Outlive Your Retirement Funds? Plan for Success Now

Posted by Gary Wagner on Sep 10, 2020 10:45:00 AM

If you are getting close to your retirement, you might be worrying about whether the money you have set aside is going to last. It’s a legitimate concern, especially considering that the average life expectancy continues to increase. There is a good chance that you’ll live longer, but will your money last longer? 

The answer is yes, it is possible to stretch savings. With a smart investment strategy, a realistic view of healthcare costs, and a commitment to living within your budget, you can make your money outlast your retirement. Let’s take a look at some ways you can improve your financial outlook with a little foresight and planning. 

 

Read More

Topics: Financial Planning

6 Retirement Mistakes Even Smart People Make And How to Avoid Them

Posted by Gary Wagner on Jul 14, 2020 1:46:00 PM

You’ve worked hard your entire life. Now it’s time to look forward to your retirement. After all your dedication, your golden years should be everything you hoped for. But along with the excitement of impending retirement, there also comes the responsibility of sound financial management.

Read More

Topics: Financial Planning

Optimizing the Timing of Your Retirement for Social Security Benefits

Posted by Gary Wagner on Jun 23, 2020 1:30:00 PM

In the 85 years since the Social Security Act established a new means for Americans to prepare for life after their working days, the retirement landscape has changed significantly. There has been a dramatic reduction in defined-benefit pension plans and a migration toward defined-contribution plans like the 401(k). Life expectancies are longer and the full retirement age has crept higher.

Read More

Topics: Financial Planning

How the CARES Act May Impact Your Family Finances and Tax Planning Right Now

Posted by Gary Wagner on Jun 9, 2020 10:30:00 AM

The $2.2 trillion coronavirus relief bill or CARES Act was passed by Congress on a bi-partisan vote and signed into law in late March by President Trump. According to the U.S. Treasury Department, the CARES Act “provides fast and direct economic assistance for American workers, families, and small businesses, and preserves jobs for our American industries.”    

Read More

Topics: Financial Planning

How Do Wealth Management Firms Work?

Posted by Gary Wagner on May 12, 2020 2:30:00 PM

What services are offered by wealth management companies, and how can they help you reach your financial goals? How do these firms address current and future needs for you and your family?

Read More

Topics: Financial Planning

7 Ways to Simplify Finances Before Retirement

Posted by Gary Wagner on Apr 14, 2020 11:29:00 AM

As you approach retirement, organizing your finances will be one of the most critical steps you take when beginning your transition out of the workplace. There are plenty of retirement planning tips and philosophies out there, but many people in their 50s with $500k or more saved don’t yet know how to simplify their finances before retirement.

Read More

Topics: Financial Planning

Tax Season Senior Scams Alert - 8 New (and Age-Old) Financial Scams to Watch For

Posted by Gary Wagner on Apr 7, 2020 12:05:07 PM

Sadly, tax season is a prime time for scammers to target senior citizens. Here are eight common scams making the rounds this year. Please share them with older relatives, friends and everyone else: Awareness is a primary component of stopping these threats.

Read More

Topics: Financial Planning

Share this Blog


 

Carnegie Cropped eBook No Shadow-min

"Top 4 Questions to Ask Before Hiring a Financial Advisor"

What You'll Learn

  • The difference between fiduciary and suitability standards
  • Learn how some advisors may not be required to work in your best interest
  • Be aware of various types of hidden costs
  • The importance of third party custodians
  • The difference between fee-based and fee-only

Download Your Copy of the eBook Below

Recent Posts

Subscribe here for monthly blog updates!