Blog

We are excited to announce Sharon Weaver’s paper “Scaffolding or Enabling? Implications of Extended Parental Financial Support into Adulthood” has been published by the Journal of Financial Therapy.

COVID-19 UPDATE:  As of 3/28/2020, RMDs (Required Minimum Distributions) can be suspended for 2020 for those who prefer to leave that money invested.  Roll-back and Roth conversions are available for distributions already made in 2020.

Yesterday, in our daily (Zoom) staff meeting*, Gigi mentioned a quote about crisis and change from a book she’s been reading on the topic -- Jared Diamond’s “Upheaval – Turning Points for Nations in Crisis”.  I asked her to send a quote and got so much more. 

Balance in retirement is important – not just finding a balance between spending too much money and being afraid to spend, but also how to spend time. How much alone time do you prefer? How much would you like to engage with friends, family, or former colleagues? What is the right blend of relaxing and being active for you? 

If you find the thought of taking retirement distributions stressful, you’re not alone.  Time after time our clients at Mission Financial Planning are surprised to find themselves struggling to dip into their retirement savings.

In our perfect world, you’d never need to borrow from your 401(k) OR cash out your IRA. We don’t intend to recommend either of these strategies by writing about them, however, sometimes people run into a cash crunch and after exhausting other options turn to their retirement savings for help. 

Is your dental practice an S-Corp? If so, each year you face the challenge of determining how much you should pay yourself in W2 income verses how much should flow through to your tax return as passthrough income.

As I discuss estate planning with my clients, I inevitably think about my personal estate plan.  My kids will inherit what will seem like a lot of money to them, considering how frugally they were raised (downside of being brought up by a financial planner!).  I want them to manage it well, understand why I made the estate planning decisions I did, and I have some ideas about ways the

Over the years, I have found that one of the most important pieces of any vacation is the ease of traveling to that destination. I don’t care how wonderful the final location may be, if the journey includes multiple flights, delays, lost luggage, and poor customer service, then I would prefer to stay home and work.

If you’re a practice owner with a 401k, Cash Value, or Profit Sharing Plan, now is the time to look at your employer contributions to the plan.  Defined benefit, discretionary matches, and profit sharing contributions are based on last year’s compensation numbers.