The last thing you need to worry about when you retire is losing your sense of purpose. Staying mentally and socially engaged matters more than most people expect. Health tends to outweigh wealth, so maintaining routines that support physical and cognitive well-being becomes critical. Many retirees underestimate how important structure is even when they no […]
Staggered retirements are more common than you might think, especially when couples are different ages. A two-phase retirement can affect both you when it comes to your savings and spending needs. It’s important to think ahead about how you’ll both plan for and handle these impacts. There are differing and varied options that may fit
Staggered Retirement Read More »
If you are mulling over in your mind your list of tangible assets, savings accounts, and creating your will, you may be trying to determine that trifecta question of how to be able to keep what you have in your name, have access to income, but still leave something as a legacy to your heirs.
Our Clients have come to us asking why they are paying taxes on their Social Security income when they thought it would be tax-free. It isn’t just those that have built significant wealth that will be paying taxes on some of their Social Security; when your provisional income (your modified adjusted gross income plus 50%
Taxes On Social Security Read More »
A recent AARP focus group study* sheds light on the concerns of women aged 50 and up, revealing a common sense of financial stress, uncertainty about the future, and dissatisfaction with systems designed to help them. Across political affiliations and age groups, participants described dealing with rising costs, health-care challenges, caregiving responsibilities, and concerns about
What Women 50+ Say About Retirement Read More »
Because it’s tax time, our clients have been asking questions about how taxpayers ages 65 and older can make the most of the temporary $6,000 senior tax deduction that is in effect for tax years 2025 through 2028. This is an unusual situation, because a deduction is available to both those who itemize and those
Bonus Senior Tax Deduction Read More »
It is not surprising that people tend to compare their financial situation during retirement to others, because money is highly visible in life: through homes, cars, travel, and lifestyle. So it becomes an easy benchmark for perceived success. However, not only do these comparisons rarely reveal the full picture of someone’s debts, obligations, goals, or
Money can be a sensitive topic, but avoiding it often leads to confusion, stress, or misunderstandings. Many families find that setting aside intentional time to talk about finances can strengthen relationships and create clarity around goals, responsibilities, and expectations. Whether your household is planning for your retirement, saving for major milestones, or discussing inheritance plans,
How to Talk About Finances With Your Family Read More »
When you withdraw your first RMD may impact your taxes. You may wonder how that can happen, and with tax season approaching, we thought it best to draw your attention to a nuance you may not be aware of. Typically, you have until December 31 to take your full distribution—or if you’re taking your first
We’ve received some questions lately regarding joint ownership of an annuity, and why it can’t be done in qualified accounts. Joint ownership of an annuity allows two individuals, usually spouses, to co-own a contract, ensuring income continues for the survivor. This offers security in that it provides income for two people while either is alive.
Joint and Why Not? Read More »
By using this website, you accept our Terms of Use and Privacy Policy. Information within this website may have been provided by third parties, including images displayed, and, while we believe this information to be accurate, we have not independently verified such information. Investments in securities are not FDIC insured, are not bank guaranteed and may lose value. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Before investing, consider your investment objectives, advisory fees, and expenses. Our investment advisory services are designed to assist clients in achieving discrete financial goals, but do not include tax or legal advice. Past performance does not guarantee future results, and the likelihood of investment outcomes are hypothetical in nature. Nothing on this website constitutes an offer, solicitation of an offer, or advice to buy or sell securities.
Advisory services are offered as Grimes Financial Group, which operates through Gibbs Wealth Management (GWM), an SEC-registered investment adviser. Insurance products and services are offered through DPG Senior Signature Solutions / DBA Grimes Financial Partners which is independent of GWM.
The content on this webpage is intended solely for informational purposes and is subject to the regulatory requirements applicable to GWM. Other pages on this website may contain content that is not subject to the same regulatory standards and should not be construed as part of GWM’s regulatory communications or offerings.
