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Can I Retire Before Age 59.5?
Can you retire before the age of 59.5? The quick answer is maybe, but many mistakenly believe that they simply cannot leave their job and access the retirement accounts before this age. In fact, while the IRS has a general rule that imposes a 10% penalty on accessing your retirement accounts before 59.5, there are many exceptions that allow those with adequate savings to retire in their 50’s. When I work with retirees that have not yet reached that age of 59.5, I like to dev
Steve Coker, CFP
Apr 103 min read
A Young Professional Game Plan
Clients often ask me to talk with their young adult children to provide guidance on saving and investing. While everyone’s situation is different, the fundamentals are often the same. Here is what I tell them. 1. Live below your means The most fundamental money management tip is to simply live below your means. If you spend more than you make it leads to a lifetime of debt and enslavement to the paycheck. Living below your means allows you to build wealth. Even a small amo
Steve Coker, CFP
Mar 273 min read
Tax Tips: The IRA
It is tax time and many of us will be heading to our local CPA or wrestling with Turbo Tax to complete our tax returns before the April 15 th deadline. If you are looking for ways to save money on your tax bill, don’t overlook a last minute contribution to an IRA. It is one of the best ways to reduce your taxes and one of the only ways to you can still impact your taxes before you file. In this article we’ll cover some IRA basics and outline when an IRA might make sense f
Steve Coker, CFP
Mar 203 min read
Staying the Course
It is not uncommon for us to get the question, “What are you going to do with my investments when the market sells off?” The answer often surprises people, we most likely won’t do anything. If we decide to do something, we will probably be buyers if the market continues selling off. So why even have an advisor if we won’t do anything when the news gets bleak? The simple answer is that we have already done something, we just did it well before any crisis happened. A good inves
Steve Coker, CFP
Mar 132 min read
Another War
Markets sold off this week as war in Iran continued into its sixth day and Iran threatened to close the straight of Hormuz, sending oil prices higher. As we have said in the past, war is not necessarily a major issue in stock markets. When Russia invaded Ukraine in 2022 major stock markets basically shrugged off the attack. Similarly, the markets were surprisingly resilient during the last Israel – Iran conflict. Global markets are diverse and robust, and while all wars clea
Steve Coker, CFP
Mar 82 min read
