Finding the Best Order for Funding Retirement
With a task as important as funding your retirement, determining which accounts to fund and in what order should not be taken lightly. Whether it’s a company plan, individual retirement account or taxable account, there are a lot of ways to save for retirement. So how do you decide where to put each dollar you […]
John V. Boardman Honored for Years of Service by The Teachers Retirement System of Kentucky
LEXINGTON, Ky. (June 18, 2024) – The Teachers Retirement System of the State of Kentucky recently recognized John V. Boardman, Founder/CEO of Ballast, for his significant contributions and seven years of dedicated service to the Board of Trustees. Originally appointed to the Board of Trustees in 2017 by Gov. Bevin and reappointed in 2021 […]
Determining a Retirement Savings Rate
As we meet with new families, we continually hear the same two questions: 1) are we making good decisions with the money we earn, and 2) are we saving enough for retirement? These questions are typical whether a person is 35 years old or 55 years old. According to the Federal Reserve Bank of St. […]
Finding the Best Order for Funding Retirement
With a task as important as funding your retirement, determining which accounts to fund and in what order should not be taken lightly. Whether it’s a company plan, individual retirement account or taxable account, there are a lot of ways to save for retirement. So how do you decide where to put each dollar you […]
Retirement Saving Myths and Misconceptions
We are fortunate to have a very educated and knowledgeable client base, but we are consistently surprised by the myths and misconceptions clients and prospects bring to the conversation. Below I have listed my Top 7 Myths and Misconceptions About Retirement Savings; it is by no means a complete list but highlights the most common […]
Testing the Challenges of a Long Retirement
We often joke that our job was created because of increasing life expectancies and pensions seldom being offered. Obviously, finance and investing has become more complicated and there are an ever-increasing number of investment vehicles and planning strategies we help our clients choose between. We also know there is great value placed in our ability […]
Paying Down Debt vs. Saving for Retirement
Here is one we hear all the time – “How can I save for retirement with all of these monthly debt payments?” For what is seemingly a simple question, the answer can actually be somewhat complicated. Striking the right balance between debt payments and savings contributions will vary with each household and the solution is […]
Planning for “Fixed” Income During Retirement
Fixed Income in retirement can come from many different sources of assets. It may be a pension, real estate rental income, bond/CD ladder, annuity, Social Security, or even an income-yielding individual bond. In all scenarios, using “fixed” income as retirement income comes with many different benefits and risks. While it is very situationally dependent, in […]
Benefits of Multiple Income Streams at Retirement
In our second Atheneum article for this quarter’s Retirement Income subject, we discuss the benefit of having multiple income streams during retirement. To understand the advantage of having multiple income streams, it is important to first understand one of the most important factors that affects portfolio longevity when taking income: sequence risk. According to Investopedia, […]
Retirement Savings
One of the most fundamental jobs of the financial planner is to assist our clients with retirement savings. How much do you need to save? Which account types should you use? Given multiple options, where should you save your money first? The following articles discuss these and other questions relating to retirement savings. Are […]
Retirement Savings
The Ballast Atheneum is a collection of our thoughts on the twelve most important topics in financial planning. Today, the focus is on Insurance. A fundamental job of a financial planner is to assist clients with retirement savings. How much do you need to save? Which account types should you use? Given multiple options, where […]
Taxes in Retirement – Case Studies
Key Takeaways: When you’ve spent your adult life working and saving, retirement is a big change. One item that will both change and remain the same is taxes. Your income sources will be different, each with their own intricacies in the tax code, but at the end of the day, you will still likely be […]
