Laurel Wealth Planning

With the recent increase in interest rates, do you know how it affects your nest egg? Changes in interest rates can impact different parts of your retirement plan in different ways. Higher rates may create new income opportunities for cash, CDs, and newly issued bonds. But they can also affect the value of bonds you already own. Understanding how your investments respond to changing rates can help you make more informed decisions about your retirement strategy.

Having a signed will or trust feels like a major checkoff your to-do list… until a forgotten form from 2009 gives your retirement savings to the wrong person. Estate documents state your intentions, but your account forms enforce them. When the two conflict, the paperwork wins. In our new article, we walk through where account drift happens, what it costs your heirs, and how to catch it before it’s too late. Read the full guide! Link in the comments.

The idea of living forever sounds tempting. Would you choose yes or no? While living forever may be a fun thought experiment, it highlights an important question when it comes to your financial plan: What if your retirement lasts longer than expected? Longevity risk is the possibility of outliving your assets, and it’s one of the biggest challenges retirees face. That’s why not all withdrawals should be treated the same. Your essential expenses, healthcare needs, and discretionary spending may require different strategies throughout retirement. At Laurel Wealth Planning, we help create strategies that adapt as life changes. Schedule a conversation and let's build a plan together: https://lnkd.in/epA5_zA2

At some point, the question changes from “How do I build more wealth?” to “What do I want to do with what I’ve built?” For some, that means helping children or grandchildren. For others, it means giving more to causes they care about or finally making room for the experiences they’ve been putting off (hello, Aruba!). 📌 We recently put together a guide on navigating this shift, exploring the financial decisions that come with having more than enough. Link in the comments below!

Congratulations are in order! Laura Kuntz welcomed her second grandchild on October 2. Sally Ann arrived at 8 pounds, 2 ounces, and everyone is doing well. Family is at the heart of how Laura has approached planning for more than 25 years. Every conversation about money is really a conversation about the people it supports. Welcome to the family, Sally Ann. #LaurelWealthPlanning #Minneapolis #FamilyFirst

Losing a spouse is one of the hardest experiences anyone can face. In the days and weeks that follow, grief often comes alongside a long list of financial and administrative responsibilities. From making funeral arrangements and gathering important documents to notifying the estate executor and staying current on bills, there are many details to manage during an already difficult time. Having a plan in place before a loss occurs can help make these decisions a little easier for your loved ones. A few important steps to consider: - Organize key documents. - Keep beneficiary information updated. - Know where important account information is stored. - Understand who will handle estate responsibilities. If you’re navigating life after the loss of a spouse, you don’t have to handle every decision alone. Our team has guided many widows and widowers through this transition, providing clear guidance, answering questions, and helping create a plan for the road ahead. We’re here to help you move forward at your own pace.

Planning for a parent’s long-term care is one of the hardest journeys a family can take, and doing it during an emergency makes it 10 times harder. In our new article, elder law attorney at Everbright Legacy Law, Lauren L. Fink shares expert advice on navigating $7,000+ monthly care costs, avoiding contract traps, and updating legal documents before a crisis hits. Taking action early protects your parents' dignity, gives your family real choices, and safeguards your own financial plan. Read the full breakdown to prepare financially, emotionally, and legally. Link in the comments.

In a divorce, equal may not add up. Two assets with the same dollar value can have very different tax consequences, income potential, and long-term value. $500,000 in a traditional IRA isn’t the same as $500,000 in cash. The same goes for a house, appreciated stock, pensions, and Social Security benefits. When dividing assets, it’s important to look beyond the number on the statement and understand what each asset may actually mean for your financial future. If you’re navigating divorce, Laurel Wealth Planning can help you understand what the numbers may mean for your life after the settlement: https://lnkd.in/epA5_zA2

Even with all the news headlines, the market seems to be hitting new highs. But does that really mean more money in your pocket? A rising market can bring challenges you may not have anticipated. Maybe you’ve become too concentrated in one position. Maybe selling an investment creates a large taxable gain and pushes you into a higher tax bracket. In retirement, that could also mean more of your Social Security is taxed or you’re subject to an IRMAA surcharge. Just because the market is doing well doesn’t mean you can set it and forget it. Financial planning during an up market can be just as important as planning during a downturn.

You’ve saved, you’ve sacrificed, and you’ve poured everything into your career. You worked hard for early retirement. But now what? Spending feels like the exact opposite of what you’ve done for the past 40 years. We hear that a lot, and it’s called the saver’s paradox: people who have saved their whole lives are now expected to spend that hard-earned money. We help clients feel confident in their financial plan so they can enjoy the wealth they’ve worked so hard to build. Maybe that means taking the whole family on a Disney cruise or maybe it’s an adventure to a tropical destination. We want you to enjoy your wealth a live a happy, joyful life.