Evaluating Pension Options
Each year we are seeing fewer workers covered by a company pension plan. Overwhelmingly companies are trending away from the traditional pension- a defined benefit, to a defined contribution plan like a 401k. By and large employers have decided that guaranteeing a retirement income is too expensive. If you are lucky enough to be in […]
Determining a Healthy Withdrawal Rate
One of the more arduous tasks facing retirees and soon-to-be retirees is trying to determine how much money can be withdrawn from retirement accounts each year without running out – yet not skimping yourself either. Solving this puzzle has become even more challenging given today’s low interest rate environment and tempered expectations for future investment […]
The Importance of Tax Diversification
When most people think of diversification, they primarily focus on a proper mix of portfolio assets. As we have noted in the past, we target an asset mix of non-correlating assets for our clients. This could include stock, exchange traded funds, mutual funds, REITs, etc. However, one area of diversification that is often ignored is […]
Long Term Care Overview
One of the most intimidating and misunderstood areas in financial planning is Long Term Care Planning. In general, long-term care is classified as ongoing healthcare needs for the basic activities of daily living such as eating, bathing, dressing, and transferring. In most cases, a person who cannot perform even a few of these activities independently […]
Disability Insurance – Protecting Families and Businesses from Disaster
According to the Social Security Administration, just over 1 in 4 of today’s 20-year-olds will become disabled before reaching retirement age¹. With such high odds of experiencing a disability for some period of time, it is clear that financial plans should consider ways to limit the financial impact of disability. After all, when someone becomes […]
Trusts as Estate Planning Tools
The topic of estate planning is one that many would like to avoid for as long as possible and the reason is pretty simple: most people are reluctant to discuss what Benjamin Franklin referred to as the only two certainties in this world, death and taxes. This is where a common misconception lies — estate […]
The Latest on Inflation/Rates and Where We Go from Here
Without question, over the past year, the most common topic we have discussed with clients is inflation and rates. Whether you are in retirement, peak accumulation years, or just starting out, inflation has impacted everyone… from raised costs at the grocery store, to travel, to even attending a sporting event. Fortunately, there are increasing signs […]
Most Couples Shouldn’t BOTH Delay Social Security
Key Takeaways: We’ve written a previous breakdown on the Social Security timing decision. Briefly, between ages 62-70, if you delay taking income, your monthly benefit grows. We discussed that delaying increased payments can be a winning strategy and that it is easy to calculate a break-even age when making this decision. However, the same math that says […]
Evaluation of a Job Offer
Key Takeaways – The following considerations must be made when reviewing an opportunity to take a new job or leave a W2 salary to start a business. When we bring on a new client, one of the first commitments we make to them is to be another intelligent brain at the table, helping to evaluate […]
John Test
Schedule a Call John V. Boardman, III, CFP® FOUNDER / CEO / FINANCIAL ADVOCATE john@ballastplan.com John worked at a large bank for years. He was on the fast track, but he knew there was a better way to help people. He believed then, as he does now, that he will be sitting across from his […]
Resources
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Who We Serve
COMPREHENSIVE Services Our Priority is You We are here to guide you with expert financial advice that encompasses all aspects of your life. With a foundation rooted in a thorough understanding of your desires, goals, and preferences, we provide you with the leadership, proactivity, and stewardship you need to optimize your financial future. We take […]
