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 […]
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 […]
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THE BALLAST BALANCE Plan for the Future. Live for Today. https://ballastplan.com/wp-content/uploads/2024/11/Hero-Video_Ballast.mp4 Built For Financial Security, By Financial Experts You work hard every day. Let us take on some of the work so you can fully enjoy life. Maximum Utility We help you optimize the way you accumulate, spend, and give your money. As your life […]
The Similarities Between Running and Saving
A journey of a thousand miles begins with a single step. – Lao Tzu It’s race season. With the Bluegrass 10k and other races in Lexington approaching, there has been much discussion about training and running plans in the office. This recent talk about running made me realize that achieving a financial goal is […]
Evaluating a Pension Buyout
Key Takeaways: Those entering the workforce today will most likely never feel the security offered by a pension plan like many of their parents and grandparents have. As defined contribution plans, such as 401(k)s, took center stage in the late 1980s, the use of defined benefit plans as employee benefits quickly became a thing of […]
Cash Flow Planning
The Ballast Atheneum is a collection of our thoughts on the twelve most important topics in financial planning. Today, the focus is on Cash Flow. Cash flow planning is perhaps the most fundamental building block of financial planning. You need to have the money in to cover required expenses, entertainment, and saving for future […]