Kate Arndt, CFP®

As you prepare for retirement, whether that’s in 25 years or two months, it’s important to keep your eye on what’s important. Develop strong habits (but not too strong!) early on for optionality that works in your favor.

It’s not abnormal for borrowers to feel they are in a different spot financially since March of 2020. The pandemic brought about rising wages and allowed many Americans to stockpile cash.

When you pass, you don’t get to take your money with you, so avoiding the common pitfalls of wealth transfer is best. Prepare your heirs, talk openly about money, pass along family values, and don’t be afraid to implement a trust.

Social Security benefits are an essential piece of many retirees' financial plans. Most people know they are entitled to benefits based on their own record or earning history, but did you know that you are also eligible for benefits on your spouse's earnings?

Unfortunately, even as tax prep software evolves, several common mistakes prevail. So how can you avoid these common (and costly) errors?

There are plenty of reasons someone might conceal information or deceive their partner. For instance, a high-earning spouse may tell their partner they earn less because they fear their partner would spend more.

Forgiveness can come in one of two forms. Borrowers that made payments during the pandemic forbearance period are eligible for a dollar-for-dollar refund, up to the $10,000 limit.

When it comes to finances, there is more than meets the eye. If you catch yourself green with envy over someone else’s apparent financial status, take a step back and take stock of your successes.

One easy way to purchase additional I Bonds is through a revocable living trust. Many Bedel clients have either individual trusts or joint trusts.

Money does not buy happiness, but I believe that it can buy peace of mind. One way your money can do so is through an emergency fund. Having that box checked gave me permission to live a little.

The “Roth Conversion Ladder” strategy isn’t for everyone, but anyone considering early retirement should know about it. Pay the tax early, let the funds grow, count to five (years), and withdraw your principal both tax and penalty-free.

Retirement is a numbers game. Know your numbers and turn in your retirement notice with confidence. If you don’t feel comfortable running the numbers yourself, hire a financial planner to do the work for you.