How to Retire and Aim for the Same Standard of Living
I recently read an article that said retirees need 70% or more of their pre-retirement income to feel confident and enjoy their retirement years. Unfortunately, only about 25% of Americans are at that level, and many see a decline in their standard of living in retirement. What can you do to better your situation…
What You Need to Know About The 2023 UNSECURE Secure Act 2.0
We have some news that we’re throwing out today regarding the Secure Act 2.0 and some of its changes that might be impactful for you. You should know what these changes are so you can take advantage of your opportunities. We work so hard to earn money, and then we turn around and give…
The TERRIBLE 2023 Secure Act 2.0 Impacts Those Turning 72
It’s an exciting time here at Centennial Advisors! We have some news that could potentially affect all of you facing retirement. Our new news comes right at the start of a new year, and I am thankful for that. It is 2023, and the ugly year of 2022 is behind us. Markets got crushed…
Action Items
Today we are outlining three action steps you can implement as the year ends to get your financial house in order. Let’s begin with number three and work our way back. The third step you can take as the year comes to a close is tax-loss harvesting, especially during a year when the markets…
Back to JPM Article
Today we’re talking about how “the 4% rule” is losing relevance in today’s economy. In retirement, a common guideline allows a 4% annual withdrawal from your portfolio. According to an article published by JP Morgan Private Bank, a retiree with a $30 million portfolio would run out of money if they followed that guideline in…
How to Fix and Still Take 4%
Recently, we’ve been writing a lot about the 4% rule—specifically, how the 4% rule has been debunked—but now it’s time to qualify that statement. There is a way to take 4% income in retirement, depending on your investment strategy and how you allocate your resources. The basic premise of the 4% rule is that…
Opportunity #3…Tax planning
Taxes are the topic of today; when we think about market fluctuations like we’re experiencing now, taxes become an important issue. When markets are up and your IRA, your 401K, and all your investments are growing, it’s easy to look at your pile of assets and worry that the IRS will take a big bite….
Opportunity #2: Safe Money Pays
We’ve discussed the “doom and gloom” of a likely recession ahead of us. Companies are laying off tens of thousands of people, the Federal Reserve is increasing interest rates, and according to the media, the world is going to end. Big and small investors, if they’re wise, have been moving their money from the market…
Opportunity #1: Income Planning
In our last segment, we talked about the “doom and gloom” on the horizon, but ended on a positive note, as we are sharing three opportunities that you can take advantage of to potentially turn your fate around. Around 25 years ago, financial advisors were taught that a proper retirement plan utilized the “three-legged stool”…
Doom and Gloom: Is a Recession Coming?
Today we’re going to explore some tips and tricks to help you through the potential doom and gloom on the horizon as we near the end of the year. The economic market in 2022 has been a grim, down year. We’ll see how the year ends, but we have every indication that a recession is…