THE SHP FINANCIAL BLOG
At SHP Financial, we focus on a customized investment and retirement strategy to help get you retired, and stay retired. To help you better understand your financial needs or assess your current investment and retirement strategies, we post a weekly blog. We hope you find these retirement and financial insight blogs helpful, and if you would like to take it a step further for a complimentary review of your current strategies, you can click to let your journey begin.
Plan for the Tax Rates of the Future
A retirement phase can last 25-30 years. Saving for it can take just as long, if not longer. Hard-earned savings dwindling in retirement due to poor financial strategy has all the makings of a bad ...
Take Advantage of These Tax Strategies Before the Year Ends
The hustle and bustle of the holidays can make anyone lose sight of their finances. Before ringing in the new year, it’s a good idea for savers and retirees to evaluate their holdings and tax ...
How Long Can I Keep My Money in My Retirement Account?
The old proverb, “You can’t take it with you,” refers to the idea that money and possessions are earthly things and cannot accompany a person in death. Further interpretation suggests that people should not hoard ...
Three Unexpected Taxes in Retirement
Benjamin Franklin once said, “In this world, nothing is certain except death and taxes.” He wasn’t wrong. Americans fully expect to pay taxes as much as they understand their time on earth is temporary. Still, ...
Tax Tips for Married Couples
Married couples share many things in their life as a unit. Regarding taxes, most assume that joint filing maximizes savings, but that isn’t always true. Various factors influence filing strategy, including income, deductions, and individual ...
Don’t Forget Year End 401k and IRA Contributions
As the end of the year draws near, many people focus on budgeting, planning, shopping, and gifting for the holidays. While it’s easy to get swept up in the spirit of giving to others, ...
3 Overlooked Retirement Expenses
Every penny counts for retirees. Funds tend to be limited without an incoming paycheck and unanticipated expenses can force retirees to make lifestyle sacrifices. Healthcare, taxes, and inflation should be integral to any retirement strategy, ...
What is Your Desired Retirement Lifestyle?
The ideal retirement picture is different for everyone. Some hear the ocean. Some envision a personal renaissance, with time to develop a new skill or hobby. Others imagine traveling the globe. Some aren’t sure what ...
5 Things to Help You Get Started on Legacy and Estate Planning
Do you have a plan for your assets when you pass away? Legacy and estate planning outline an individual’s personal and financial wishes and ensure estate representatives can execute them. It’s an uncomfortable but necessary ...
What Does Medicare Cover?
Health care may be the most significant expense retirees incur. Several common misconceptions exist about Medicare, a federal health insurance program for people 65 and over or with certain disabilities. One is that Medicare ...
Three Birthday Milestones That Could Change Your Tax Situation
Milestones mark significant developmental points in life. When most people reflect on their birthday milestones, past or future, 50, 65, and 73 don’t usually rank. But as retirement draws nearer, these birthdays are financially significant ...
How to Help Future Generations with Financially Savvy Strategies
Wisdom develops over time. It’s common for people to reflect on things they know now, that they wish they would have known when they were younger, like the years it can take to pay off ...