What’s Happening
At Partners in Financial Planning, we keep you informed on a variety of topics. Check out our Blog posts and team News featured below. If you missed any of our newsletters or monthly investment commentary, be sure to check out our Newsletters & White Papers page for the latest market news and articles to educate and inspire.
Decoding Compensation Packages: A Doctor’s Guide to Salary Structures
Doctors are worth every penny they’re paid, but that doesn’t mean their salaries are simple. In fact, healthcare professionals have some of the most complex salary structures out there, which can make it difficult to navigate a new job offer or renegotiation. Yet, how you’re compensated for your hard work is a vital component of your financial health and future financial well-being. If you aren’t fully aware of your benefits…
How Carilion Clinic Employees Can Make the Most of their Retirement Benefits
DOWNLOAD GUIDE HERE Employees of the Carilion Clinic have access to relatively robust compensation packages, including retirement benefits beyond the traditional employer-sponsored 401(k). If you aren’t taking full advantage of these benefits, it may be because you don’t yet understand what is being offered and who can use it. Medical professionals face a unique challenge when preparing for retirement due to their significant student loan debt and long lead time…
Understanding Medicare and Medicaid: A Guide for Retirees
Throughout your retirement planning journey, you’ve likely heard the terms “Medicare” and “Medicaid” tossed around. While they boast similar names and can be used to help cover medical costs in retirement, they’re two very different programs—with very different features, functions, and eligibility requirements. Let’s look at what Medicare and Medicaid are and the role they may play in addressing your healthcare costs and needs throughout retirement. What Is Medicare? Medicare…
Part-Time Work and Hobbies: Balancing Leisure and Supplemental Income
Everyone’s vision for retirement is different, but now more than ever, people are looking for ways to stay active and engaged—while still enjoying the benefits of financial independence. If you’re not entirely content with the idea of sitting at home in a rocking chair during retirement, you may be intrigued by the possibility of returning to work (at least part-time) or picking up a new hobby. Both can have significant…
Longevity Planning: Ensuring Your Money Lasts Throughout Retirement
In recent decades, the average lifespan has gradually increased for both men and women. While a longer life expectancy means more time to spend with loved ones, it’s also reshaping how people approach retirement. Additional years in retirement require more savings—not to mention the increased probability of additional costs like medical emergencies or long-term care. The possibility of outlasting your retirement savings is called longevity risk, and while it sounds…
Tax-Efficient Withdrawals: Minimizing Tax Impact in Retirement
When building an effective, long-term retirement income strategy, you must preserve your hard-earned wealth. With no more steady paychecks coming your way, you and your advisor must work together to build a sustainable withdrawal strategy that protects the longevity of your portfolio while addressing your financial obligations today. Some retirees may not realize just how impactful taxes can be on the overall success of their withdrawal strategy. Your different sources…
Staying Active and Healthy in Charleston: Retirement Addition
Around 45% of retirees are considered sedentary despite the essential benefits of being active in retirement.1 Staying physically and mentally active can help you remain sharp, avoid serious injury, mitigate the risk of isolation or depression, and ward off diseases like cancer, Alzheimer’s, and heart disease. While you may not be comfortable lifting barbells or running marathons, there are plenty of fun, safe ways to get your steps in and…