409(a) Nonqualified Deferred Compensation plans present a fantastic way to defer taxes and build net worth. But, after many years of contributing to the program coupled with investment gains, these plans can become a substantial portion of your net worth. And because these plans are an unsecured liability of your employer they come with more risk than other forms of... Read More
Every year, we get a lot of questions about Medicare open enrollment and who is eligible to make changes to their coverage. Below is a guide to help you navigate some of the questions we are frequently asked. When is Medicare open enrollment for 2021 coverage? The open enrollment period, or Annual Enrollment Period (AEP), runs from October 15 through... Read More
This year has been a painful reminder to always plan for the unexpected. As it relates to personal finances, one could use this lesson to revisit the riskiness of their investments (i.e. stock vs bonds), the amount of cash set aside for emergencies or tweak the monthly spending to remove unnecessary costs. While all of these are worthy examinations, this... Read More
“Change is the only constant in life.” There can be many different applications of the Greek philosopher Heraclitus’ words of wisdom, but one that is especially relevant to this blog post is planning for retirement. For soon-to-be retirees, understanding how to adjust to life after work can be stressful and overwhelming. And as the Baby Boomer generation continues their mass... Read More
On numerous occasions, the need to put pre-Medicare healthcare costs in context arises with this conversation: Me: “When would you like to retire?” Client: “Well, I’d like to retire soon but know that I can’t. I have to work until at least age 65 so that I have health insurance…” The client in the above dialogue might be right; he... Read More
by Scott Gerlach, CFP I’m clueless when it comes to cars. I take the bus to work, MAX to the airport and pretty much avoid driving at all costs (thanks Uber!). And despite my best efforts, my life is still dependent on them. You can imagine my anxiety when it comes to dealing with mechanics. They might as well be... Read More
Video: Healthcare in Retirement The information contained in this presentation is for informational purposes only and should not be considered personalized investment, tax or legal advice. In our video, we answer your questions: Should health care costs dictate when you retire? Under what circumstances should one purchase a Gold Plan? And how does it differ from the Silver Plan?... Read More
I had a high school physics teacher who told me more than once, “always be true to your convictions, but prepared to abandon your assumptions.” At Cordant, we have a conviction for helping our clients make smart financial decisions and working with them to keep their financial lives on track. A key component in helping them make smart financial decisions... Read More
