I hope you enjoyed the long weekend to kick off summer as we remember those who have served our country. Let’s jump right into our selections.
We explore financial planning considerations during rapidly changing economic conditions, blind spots we may have as we enter retirement, and thoughts on whether we should save more to retire sooner or slow down and focus on cherishing our lives right now.
You’ll learn about tax planning software that you may already own and not be aware of and strategies to protect our vulnerable aging loved ones. I share a few valuable resources for the segment of our readership considering an encore career as a financial planner.
Finally, we’ll close out with some market history, and personal history, that will help you be a better investor.
Planning Considerations When Rates Are Increasing
Michael Kitces was on the Morningstar Long View Podcast to discuss How Higher Yields Affect Asset Allocation and Retirement Planning.
Retirement Blind Spots
Fritz Gilbert and Eric Weigel interviewed over a thousand retirees and near-retirees. They compared financial and non-financial concerns people have as they plan their retirements with those issues people actually report experiencing in retirement, Shining the Light On Retirement Blind Spots.
Now vs. Later
Nick Maggiulli asks and helps you answer Should You Save More to Retire Earlier?
Readers of this blog tend to already be excellent savers. Sahil Bloom provides a powerful reminder to appreciate that at one point we are all Time Billionaires, but we won’t be forever.
A Hidden Gem
Harry Sit shares a tool to help with tax planning that you may already own and work with, writing Tax Planning With TurboTax What If Work Sheet: Roth Conversion.
Many of us help aging friends and loved ones. Richard Conner highlights red flags that it may be time to get more involved and action steps to consider, writing Protecting Seniors.
A Little Market History
Ben Carlson makes The Case for International Diversification.
Carlson also explains that The Stock Market Usually Goes Up (But Sometimes It Goes Down).
Considering Becoming a Financial Planner?
Since writing about my CFP education and exam experience, I’ve had a surprising number of readers reach out to me, and I’ve had the opportunity to speak with a few of you about possibly pursuing an encore career as a financial planner.
So I want to share two resources that those exploring this path may find valuable. Note that these are both paid programs and I am sharing them only because I feel they may help others following a similar path I took into financial services. I am not paid anything if you decide to purchase either.
I have been participating in Cody Garrett’s Measure Twice Planners group. I’ve been following Cody’s work and have connected with him a few times over the last couple years, so I joined this program prior to its launch to support him. Due to a hectic time in my personal life, I’ve only in the past couple of weeks had the time and energy to start consuming his video content and participating in his live interactive online events. I’m finding tremendous value in both and highly recommend checking this resource out.
Another resource for those considering a career as a financial planner is The Externship, hosted by Hannah Moore. This eight week program starts next week, so don’t wait on this one if you are interested. I have not personally participated in this program, but have heard excellent things about it.
My Worst Investment Ever
Andrew Stotz recently reached out to me to be on the My Worst Investment Ever Podcast. I knew immediately that I would share the story of following what I call The Worst Investment Advice I Ever Heard – Everywhere for the first decade of my adult life.
What I didn’t know was how deep we would go with our conversation at the end. I hope you’ll check it out.
Have a great month!
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[Chris Mamula used principles of traditional retirement planning, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. After poor experiences with the financial industry early in his professional life, he educated himself on investing and tax planning. After achieving financial independence, Chris began writing about wealth building, DIY investing, financial planning, early retirement, and lifestyle design at Can I Retire Yet? He is also the primary author of the book Choose FI: Your Blueprint to Financial Independence. Chris also does financial planning with individuals and couples at Abundo Wealth, a low-cost, advice-only financial planning firm with the mission of making quality financial advice available to populations for whom it was previously inaccessible. Chris has been featured on MarketWatch, Morningstar, U.S. News & World Report, and Business Insider. He has spoken at events including the Bogleheads and the American Institute of Certified Public Accountants annual conferences. Blog inquiries can be sent to firstname.lastname@example.org. Financial planning inquiries can be sent to email@example.com]
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