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Retiring

Required Minimum Distribution Basics

Submitted by Mission Financial Planning on September 27th, 2019

You graduated from dental school in your twenties and spent the next few decades growing your practice and investing in a retirement portfolio, knowing one day your hard earned money would support you through your retirement. You may not know when your official retirement will begin, but if you’re approaching your 70th birthday the time to start thinking about withdrawals is now.

Tags:
  • Financial Life Planning
  • Personal Financial Planning
  • Retiring
  • RMD Series
  • Read more

Investing for Income

Submitted by Mission Financial Planning on April 6th, 2019

Investing in retirement takes a different approach than investing to build wealth. In retirement, investing for income becomes much more important.

Tags:
  • Investing
  • Personal Financial Planning
  • Retiring
  • Read more

List of Retirement Milestones - PDF Download

Submitted by Mission Financial Planning on November 8th, 2017

Retirement MilestonesThere are many milestones on the way to – and through – retirement.  Starting at age 50 with the opportunity to make additional catch-up contributions to IRAs and

Tags:
  • 401(k)s
  • Financial Life Planning
  • IRAs
  • Personal Financial Planning
  • Retiring
  • Read more

Does the 4% Rule Apply to Early Retirement?

Submitted by Mission Financial Planning on October 5th, 2017

If the 4% withdrawal rule was created with a 65 year old in mind, what happens when you want to retire earlier?  How much would an early retiree have to reduce their withdrawal rate to accommodate a longer retirement?  Research has been done that suggests that you don’t have to reduce the 4% withdrawal rate too dramatically, even for very young retirees.

Tags:
  • 4%
  • Financial Life Planning
  • Personal Financial Planning
  • Retiring
  • Read more

A 4% Withdrawal Rate in This Market

Submitted by Mission Financial Planning on August 16th, 2017

A convenient truth of a 4% withdrawal rate in this market is that dividends and bond income will come pretty close to covering it. However, once you start withdrawing more than the income the portfolio can predictably produce,  you are relying on growth to fund your spending.

Tags:
  • Investing
  • Retiring
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The Retirement Spending Smile

Submitted by Mission Financial Planning on August 13th, 2017

When people speculate about what spending will look like in retirement, they usually come up with some version of the go-go,  slow-go and no-go phases.  They assume spending will stay the same or increase for several years while catching up on the fun missed while working (go-go), that they’ll slow down after that (slow-go), and at some point will reach “no-go”, wher

Tags:
  • Budgeting
  • Personal Financial Planning
  • Retiring
  • Read more

Medical insurance and Planning for an Early Retirement

Submitted by Mission Financial Planning on July 17th, 2017

Clients who want to retire before they are eligible for Medicare (age 65) are often concerned about how they’ll handle health insurance costs.  Dental practice owners are probably used to paying this expense out of pocket already and have a better idea than most how much their coverage will cost, but the reality of paying the premium on their retirement income and realizing that

Tags:
  • Budgeting
  • Insurance
  • Retiring
  • Read more

Q&A: I'm So Close To Retirement, Should I Cancel My Disability Insurance?

Submitted by Mission Financial Planning on July 15th, 2017

Clients, around the age of 60, start thinking about whether or not they should continue with their disability insurance.  There is a diminishing return on investment when you consider that a disability policy only pays to a certain age, usually 65.   While each year’s premium buys fewer years of benefits, it's also at a time when disability might be more likely.  

Tags:
  • Insurance
  • Personal Financial Planning
  • Retiring
  • Read more

How Much Money Does it Take to be Happy?

Submitted by Mission Financial Planning on June 5th, 2017

There is ongoing academic research regarding how much money it takes to be happy, or at least satisfied, with one’s financial life.  While the numbers vary, at a certain point, studies show that increases in annual income no longer seem to bring greater happiness.

Tags:
  • Financial Independence
  • Financial Life Planning
  • Personal Financial Planning
  • Retiring
  • Read more

Withdrawal Strategies: Deciding Which Account to Withdraw From

Submitted by Mission Financial Planning on May 22nd, 2017

There are a few factors that should go into answering the question “which account do I withdraw from?”.

As advisors, we’ll think about several factors: 

Tags:
  • IRAs
  • Personal Financial Planning
  • Retiring
  • Withdrawal Strategies
  • Read more
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