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Life Archives - Your Retirement. Your Dreams. Your Life. Kort McCulley is Changing Your Future for the Better.

Tax Cut: It’s Not All Bad!

By | Advice, Dining, Dreams, Education, Finance, Food for thought, Investing, Life, Mindset, Money, Motivation, Planning, Retirement, Strategy, Technology | No Comments

When the new tax law was first revealed, many were quick to bash any negative aspects of it that they could find. To start this week off,  I wanted to give you a little more information on the tax law so you can better understand the benefits it provides and what exactly has changed.

The new tax bill is a massive document; being over 1,000 pages,  I don’t expect you to read it all, though I do want to make this clear: it’s not all bad! In fact, one of the changes is that most tax brackets went down! To see more of the new changes, check out the ROI Tax Cuts and Jobs Act and take a closer look at the following:

  • New tax brackets, pages 4-6
  • Updates on 529 plans and retirement, page 10
  • Estate Tax Exclusion, page 11

Regardless of your political views, this tax bill is for us all! If you have any questions or are in need of further assistance, please don’t hesitate to reach out to us here or give a call to the ROI Business Services at 630-855-5787.

If You Want To Go Fast… If You Want To Go Far…

By | Advice, Dreams, Education, Finance, Food for thought, Investing, Life, Mindset, Money, Motivation, Planning, Retirement, Strategy, Technology | No Comments

There’s a famous quote that says,”If you want to go fast, go alone. If you want to go far, go together.” Many people have no problem doing things on their own, but imagine how much more you could do if you had a great team surrounding you. An article from The Meaning Movement has some great points that compare going fast alone and being great with a team- check it out here!

Now, let me ask you, who is on your financial team? Who is helping you make progress toward your financial goals and freedom?

Having a financial team is crucial. Think of a financial team as a support system. With the world and economy constantly changing, it is important for you to surround yourself with a group of people who will help you to stay on the right track to reaching your financial goals.

This week, I am challenging you to think about whether or not you have a good support team in place, and if not, please consider building one. Everyone needs a support system to keep moving forward!

You NEED a Financial Plan!

By | Advice, Dreams, Education, Finance, Food for thought, Investing, Life, Mindset, Money, Motivation, Planning, Retirement, Strategy, Technology | No Comments

With this weeks topic being the importance of financial plans, I wanted to share with you this study that was done in June of 2016. The Vanguard Alpha Study discusses what is helping investors and why it is crucial to have a financial plan.

Every day, I see people making quick and irrational decisions regarding their investing and financial future. I really wanted to make it a point that there is a huge benefit to having an official financial plan. There are so many more opportunities available to those who have a financial plan in place and it would be silly to not take advantage of those opportunities.

As always, please reach out to me with any questions you may have. I am more than happy to help you build a financial plan that revolves around your values, goals, and smart decision making.

Adequate Savings Rates

By | Advice, Dreams, Education, Finance, Food for thought, Investing, Life, Mindset, Money, Motivation, Planning, Retirement, Strategy, Technology | No Comments

“How much should I be saving for retirement? Is there a certain percentage of my income that I should be saving?”

These are questions that I am asked frequently. The answer is simple: it is different for every person. Everyone has their own unique situations, different needs for retirement life, and has different incomes. What might work for a family member might not work for you. Your savings and savings rate are based on factors in your life and your life only.

I wanted to share with you some tools that will help you to determine what your savings rate should be and how you can use that number to be on the path to reaching your goals. DreamNumber, a tool I created myself, is great for helping you to organize your savings and prepare for your future needs.

Another tool that I mention frequently (it’s so helpful!) is the CNN Money Retirement Calculator. I really like this tool because you can input your income, your age, how much you have saved thus far, and it will compute how much money you will need for your retirement. I suggest taking a look at both of these tools and reaching out to me with any questions you may have!

Have a great week everyone!

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All Boats Rise in a High Tide – Swimming Naked

By | Advice, Dining, Dreams, Education, Finance, Food for thought, Investing, Life, Mindset, Money, Motivation, Planning, Retirement, Strategy, Technology | No Comments

Warren Buffett once said, “All boats rise in a high tide.” The market has been doing great this year, but like Buffett has also said, “Bad things aren’t always obvious when times are good…after all, you only find out who is swimming naked when the tide goes out.” We wanted to share these quotes and a great article, Warren Buffett’s 23 Most Brilliant Insights About Investing, in hopes that you will keep his insights and advice about investments in your mind as we approach the new year. 

From our families to yours, we wanted to wish you all a very Merry Christmas and Happy New Year!

The Importance of Annual Rebalancing

By | Advice, Dreams, Education, Finance, Food for thought, Life, Mindset, Money, Motivation, Planning, Retirement, Strategy, Technology | No Comments

The end of the year is the best time to adjust and rebalance your investments so that they align correctly with where you are in life and where you want to be. Like mentioned in the previous post, people can become greedy when investments are doing well. Remember: progress is most important!

It might sound silly, but we want to make sure you know that your investments are important– you have to take care of them and protect them. Rebalancing your investments at the end of the year allows you to prepare for the coming years in the best way possible.

Reach out to our financial advisors here if you need any assistance with rebalancing finances or have any questions about your financial needs!

Imperfections

By | Dreams, Education, Finance, Food for thought, Mindset, Motivation, Planning, Retirement, Strategy, Technology | No Comments

I hope you had a great holiday with all of your loved ones!

Let’s be realistic- life is never perfect. Though many of us would love to live in a perfect world with a perfect life, things don’t always work out that way. And that’s OKAY! Planning for the future, especially in regards to retirement and finances, can be overwhelming. There will be times where you try and try to create the perfect path to retirement or the best path to your future, but know that it’s completely okay and normal for there to be imperfections along the way! The most important thing is that you make progress- get one step closer to your goals.

This week’s video discusses imperfections, especially in regards to the important topic of money. If you did discuss the meaning of money with your loved ones this past week and you found that your response were different, that’s okay! It’s okay to have those different views. It’s okay to be imperfect!

Have a great week everyone!

How Far Will Your Money Take You?

By | Dreams, Education, Finance, Food for thought, Motivation, Planning, Retirement, Strategy | No Comments

Have you gotten a chance to check out Prudential’s video on how far your current retirement plans will take you? If not, you should. Check it out here. It’s interesting to see how many people are falling short of how much money they will need post-retirement. As the world continues to change and cost of living continues to increase, your retirement needs to adapt in order to allow you to comfortably enjoy your retirement. Will your retirement be enough?

If you need help calculating how much money you will need by the time you retire, I strongly suggest checking out the CNN Money Retirement Need Calculator. This tool is a great asset to use in order to see just how much you will need and how long it will last. Feel free to use this tool or contact McCulley Financial Group for further assistance- I would love to help and walk you through it!