Big Question of the Day:

When’s the recession coming? Opinions are all over the board these days. You can log on to any financial website, read a magazine or newsletter, and everyone has their take. So, here’s another:


Could A Cyber Attack Knock You Out?

Every day we are open to being “cyber attacked”. Kind of sounds like a movie title, but in all reality, it is the truth. Whether you are checking your email, downloading a pdf, or logging into your accounts online; you and your information are at risk. Most people do not know what to look for or even how to prevent being attacked and that is where we need to start.


Perspective on the Markets

The year is over half done and I wanted to share some 2019 Midyear takeaways. This document provides you a look into some of the perspectives of the markets and the world economies. It also provides you food for thought so we may question your own financial status, goals, and financial planning. 


Scams - Common Types to Watch Out For!

How many times does your phone ring in a day where someone is telling you your credit card or financial account is compromised, please provide your account information to confirm accuracy? What about we are “guaranteeing” you can get out of debt quickly by “pre-paying” for a service? It is so common these days but how do you know what is legit and what is not?

First, never pre-pay for a service guaranteeing you to get out of debt quickly. It is a red flag. “Legitimate debt relief firms do charge for their services but can collect only when they get results.”** Second, if anyone is questioning your accounts on the phone and they called you, just say no. If you are concerned, do your due diligence and call your financial institution or credit card company.


Financial Independence, Retire Early

Have you heard of the new financial movement referred to as “FIRE”? It stands for Financial Independence, Retire Early and it is what we all strive for. But how do you accomplish that, retire early? And what is financial independence for you in your life?

In today’s economy, people are working hard, investing as they can, and most are setting goals for their future. I came across this video and article and it really hit home. Now some of it might not appeal to you, but a lot of it makes perfect sense.


Retirement and Adult Children

As a father, I always want to be there for my children. Whether it is watching a sporting event, going to a play, or watching them graduate, I never want to miss one moment with my kids. So, it is to no one’s surprise when they need financial help; I want to be there as well. But the question is, when do you stop providing financial support to your adult children?

The Washington Post* had an interesting article in May that spoke to “when to cut off financial help to adult children.” In the article it indicated through a survey, 51 percent of Americans have sacrificed their retirement savings to free money to assist their children. 51 percent! So where do you draw the line and close the wallet? How do you step back while still being the support system you have always been?


Avoiding Retirement Planning Regret

Last year Gallup reported that an estimated 51% of pre-retirement aged Americans worry “a great deal” about the Social Security System.* Many wonder on when they should take their social security payments and whether taking them early is the better route. Both are common questions and believe it or not most do not fully understand how early withdrawals could negatively impact you in retirement. Last month, I came across an article that summed up retirement planning regrets, including second guessing your social security. Before you jump, fully understand how withdrawal decisions might look great on the outside; but in reality, are not.

Do not have the feeling of regret, let’s sit down together to make the right decisions for your financial situation, goals, and retirement plans.

Retired People Share The Secrets Of Early Retirement

The year is half over and for some of us the thought of retiring early is there; but are you in the right mind set and financial position to do so? Below is an article I read that brought perspective from individuals who actually retired early. It speaks to some of the realities of retiring in your mid-to-late 50’s and what you should consider. For example, your daily schedule will change from what it is today. Have you considered what your daily schedule might look like in retirement? 
Before you take the leap and say yes to retiring early, let’s sit down together to make the right decisions for your financial situation, goals, and retirement plans.

Financial Scams - What to Watch Out For!

Lately, it seems we can’t pick up a paper or go online to read the news where there isn’t an article about another individual or corporation being victimized through cybercrime or phone calls. Just last month AMAZON reported they were a victim to “an extensive fraud.” * 

In November 2018, GALLUP reported that 71%** of Americans worry that hackers will access their personal, credit card, or financial information.  The truth is, it doesn’t matter who you are; everyone is at risk. 

If you sense that something is not right, it probably isn’t.  And if someone you don’t know is asking for your personal information such as your social security number, passwords to financial accounts, or banking information just say no. You have worked hard for your nest egg, and it is yours. Always do your due diligence to protect your assets and if you have questions, call me. Remember I am here for you. 

Do You Know the Chapters of Retirement?

We spend most of our working career trying to save for retirement; however, it isn’t until you enter your fifties that retirement seems more of a reality and less of a distant thought. Some start to wonder what retirement looks like and others wonder if they can even retire when they hope to. 
Don’t wait until your fifties to start seriously planning for retirement. Take the plunge now and start planning today. Whether you have just started saving or have been building a nest egg over the years, let's sit down together and talk about your goals and create a customized financial plan. All it takes is one call. 

Behind on Your Retirement Savings? 

Life always presents us with opportunities and challenges. At times, those challenges prove to hinder our ability to build our retirement savings.  That is why I am here. To help you choose the best path to overcome those challenges financially and to continue to stay on course with your savings.

Remember, retiring without your finances in check is a huge risk. You never know what challenge is right around the corner. However, there are steps we can take to ensure your retirement is everything you want it to be financially. It takes one call. Let's sit down together to make the right decisions for your financial situation, goals and retirement plans.

Uncertainties in Retirement

There are uncertainties with everything; however, when it comes to retirement planning, there are two key ones: market and taxes. While each can lead even the best-laid strategies awry, it is important to remember that remaining flexible and responsive to change may help you meet the challenges ahead. Remember, prior decisions and solutions may not be appropriate for a new set of financial circumstances.

We are already into April. If your schedule has been busy and we haven't connected, let's get a meeting set.

Are You Prepared to Retire?

Are you saving enough for a rainy day? How about retirement, are you on track? Both questions sound simple enough, but in reality, they are not. We all deal with the ups and downs of life and finances but having control, understanding your options, and knowing what works best for you and your current financial situation is why I am here. 

Remember, retiring without a financial strategy is a huge risk. It takes one call. Let's sit down together to make the right decisions for your financial situation, goals and retirement plans.

Your 2019 Financial To-Do List

To-do lists, you either love them, or you hate them; but the fact is we all have them. The question is, have you ever created a ‘financial” to-do list for yourself? Below is an article I recently came across that listed out specific questions you should ask yourself. For example, if you are planning to purchase real estate this year or anticipating on selling an investment that is held outside of a tax-deferred account, would you first consider your tax implications? Before you make decisions this year, let's sit down and ask the right questions. One meeting could make all the difference.

Do You Know If You Are Off Course?

The new year has taken off quickly; but if you feel a little off course, now is the time to stop and reorganize.  Below is an article I read that brought perspective on why planning and investing in your yourself and your future are so important. We can all get off track, but I am here to help you reset your course in planning for your financial future. Before your life gets too chaotic, let’s sit down together to make the right decisions for your financial situation, goals, and retirement plans.

Is the 4% Rule Right for You?

The New Year is finally here, and it is back to business from all the holiday fun, friends and family at Fitzgerald Wealth Management.  

Does the 4% Rule always determine a successful income plan in retirement? 

The 4% Rule is a withdrawal strategy that many use to produce income in retirement, but in my experience, most do not fully understand it. Below is one of the many articles I have come across that addresses the 4% Rule; however this one clearly identifies the risks if the rule is not correctly followed. Before you jump, remember your financial situation, goals, and retirement plans are unique to you.

Making a Difference while Receiving Arizona Tax Credits 

With the holiday season upon us, many people look for ways to give back to their community by either volunteering their time or donating to local charities.  The state of Arizona makes charitable giving a no-brainer since you receive a tax credit for donations made to certain organizations explained below.  Remember that a tax credit is a dollar for dollar reduction to your state tax liability, so it doesn’t cost you anything. 

Retirees, Check Your Withholding

Taxes may not be the first thing you think of when you are planning retirement.  However, whether you are getting ready to retire next year or are already retired, knowing your tax bracket is critical for making financial decisions. You want to understand how taking distributions and withdrawals, cashing social security checks, and providing charitable donations affect your tax bracket.  Let’s sit down to make sure you are making the best decisions for your tax situation and your financial future. You worked hard to get here, let’s ensure your retirement is everything you want it to be. 

Tax Changes That May Be Overlooked

Ensuring you have paid the right amount of taxes can be confusing and frustrating, especially if you have deductions, are contributing to charitable organizations or are making contibutions or withdrawals from a retirement accounts. If you are already retired and are taking distributions, taxes can play a critical role in your overall income. Knowing what your tax bracket is and how it impacts your income is vital to your financial future. Contact me and we will sit down and go over your financial planning.

Should You Care What the Market Does Each Day?

Market volatility can excite us and confuse us at the same time and this past week was no different. When markets fluctuate significantly, some make quick and hasty decisions which could prove costly in the long run. Reading headlines or listening to others without having all the facts is a mistake some investors make. 

So, what is the right thing to do? 

Before you jump, remember your financial situation, goals, and retirement plans are unique to you. For those collecting Social Security benefits, it was announced that both social security and the supplemental security income (SSI) for 2019 will increase to 2.8%. Good news. Give me a call, and together we can make the right decision for your financial future. 

Tax Efficiency in Retirement

Whether you are retired or still planning for retirement, understanding taxes and how it will affect your retirement savings is important. Knowing the tax implication of a pre-tax investment income versus an after-tax investment income is also key; especially when taking a withdrawal or Required Minimum Distribution (RMD) later in life. If you have questions regarding your accounts, overall financial planning or are unsure if you are "tax efficient," contact me.