Carter Michaelson - Financial Planner

Carter Michaelson - Financial Planner Illuminating Your Path to Financial Independence. Information provided should not be solely relied upon for decision making.

Advisory services are offered through illumiFI Wealth, LLC, a Registered Investment Adviser with the state of Minnesota. Advisory services are only offered to clients or prospective clients where illumiFI Wealth, LLC and its representatives are properly registered or exempt from registration. The information on this site is not intended as tax, accounting or legal advice, nor is it an offer or sol

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07/30/2026

A few of my clients have crossed the elusive $1,000,000 net worth mark over the past couple of months.

Each time, I ask the same question:

“Do you feel like a millionaire?”

The answer is almost always the same:

“Nope.”

It’s a good reminder that wealth often doesn’t feel the way we imagine it will.

None of these milestones came from picking the perfect stock, selling a business, or finding some secret investment strategy.

They came from years of consistently saving, investing, and letting time do the heavy lifting.

If you’re still early in your journey, let this encourage you to keep showing up. The small, consistent decisions you make today really do compound.

And if you’ve recently reached—or passed—that $1 million milestone, congratulations! Celebrate it!

Remember, net worth is a milestone, not the mission. Money is simply a tool, not the goal.

07/16/2026

One of the most rewarding parts of financial planning is helping clients realize they don’t always have to choose between today’s priorities and tomorrow’s goals.

Recently, I’ve met with several clients who are already on track for retirement. The challenge wasn’t retirement—it was finding room in the budget for things like:

• College expenses
• A new vehicle
• Replacing furnace & A/C
• Other important life priorities

In some cases, the right answer wasn’t to save more. It was to temporarily adjust retirement contributions or investment savings to create the cash flow needed for what matters most right now—without losing sight of their long-term plan.

Financial planning isn’t about following the same rules as everyone else. It’s about making intentional decisions based on your goals, timeline, and values.

Personal finance is PERSONAL. Having someone in your corner to help you evaluate the tradeoffs can provide the clarity and confidence to move forward.

06/01/2026

Many people think financial planning starts with investments.

In reality, some of the most impactful planning conversations have nothing to do with picking funds or trying to beat the market.

They’re about questions like:

• Should we pay off debt or invest?
• Are we saving enough for retirement?
• Should we prioritize pre-tax or Roth?
• How do we handle equity compensation?
• What’s the most tax-efficient way to give to charity?
• Can we afford to buy a home without sacrificing other goals?
• Can we afford to have my spouse stay at home with the kids?

Investment management is important.

But often the biggest opportunities come from decisions made before a dollar is invested.

That’s why I enjoy working with clients who want to look beyond the basics and build a financial plan that connects all the moving pieces together.

Financial planning isn’t about having all the answers.

It’s about asking the right questions.

04/27/2026

A lot of the clients I serve aren’t starting from scratch.

They:

• Save well
• Invest consistently
• Make good money

They want to make sure they’re not missing anything.

They want a financial partnership focused on optimizing their plan so it is aligned to their unique goals and situation.

If that sounds like you, I’d be happy to have a conversation.

04/09/2026

Trust your gut.

I was reviewing a client’s tax return recently and something about their Qualified Business Income (QBI) deduction felt off.

It wasn’t obvious, but it didn’t sit right.

So we reached out to their CPA.

Turns out, a single missed digit was the issue.

That small oversight resulted in five-figure tax savings for my client.

A good reminder:

Even great professionals can miss things and collaboration matters.

04/07/2026

Roth accounts are great… but they’re not always the best answer.

If you’re in the 24–32% marginal tax bracket, pre-tax savings can be incredibly valuable.

For every $1 you contribute pre-tax, you could be saving $0.30–$0.40 in taxes depending on your federal and state tax rates.

That’s a meaningful upfront tax benefit!

In general:

• Lower tax bracket → Roth tends to make more sense
• Higher tax bracket → Pre-tax often becomes more attractive

And one of the most overlooked opportunities?

Many people can shift money to Roth later through strategic conversions during lower-income years in retirement.

It’s less about Roth vs. pre-tax…
and more about using both intentionally over time.

04/06/2026

Reminder: You have until April 15, 2026 to fund a Roth IRA for your 2025 contribution.

• Under age 50 → up to $7,000
• Age 50+ → up to $8,000

If you just received a tax refund, this can be a great way to put those dollars to work for your future.

04/01/2026

I’m not the best financial advisor for everyone, and that’s by design.

The people I serve best are usually beyond the basics:

• They spend less than they earn
• They’re consistently saving for retirement
• They’re doing the “right things”… but wondering what comes next

That’s where deeper planning matters.

It’s not about hitting a certain income or net worth threshold.

Some of the best clients I get to serve are those who have built strong habits and are ready to be more intentional.

I work best with:

• Medical professionals navigating student loans, forgiveness strategies, and the transition from residency to attending-level income

• Individuals and families who prioritize charitable giving and want to do it in a more intentional, tax-efficient way

• Individuals or couples within about 5 years of retirement who want to minimize lifetime taxes while still enjoying their lifestyle

Not every advisor is the right fit for every person.

But for those who are beyond the basics and want to optimize what they’ve built or are building, that’s where the real value shows up.

04/01/2026

Been reviewing a lot of client tax returns recently and noticed a trend…

A handful of $12,000+ refunds.

I get it — it feels good.

But in reality, that’s a 0% loan to the government all year.

This is the perfect time to:
• Dial in your withholdings
• Revisit your cash flow
• Strategize your giving goals
• Put more money back in your pocket each month

Less refund. More intentionality and control.

03/20/2026

My least favorite question (and probably the most common one I get) when people find out I’m a financial advisor:

“So… what should I invest in right now?”

I get why people ask it.

But it’s the wrong place to start.

My answer is usually some version of:

“It depends…”

Not because I’m avoiding the question, but because what you invest in is rarely the most important factor early on.

Before we even get there, I want to see a few things in place:

- Emergency fund covered
- Getting the full employer match
- No high-interest debt
- Contributing to Roth IRA / HSA (if eligible)
- Working toward maxing retirement accounts

If you’re a newer investor, here’s the truth:

👉 Your savings rate matters a lot more than your investment selection

Pick something simple:

- Target date fund
- Low-cost index fund

And focus on building the habit of investing consistently.

As your wealth grows, things like:

- Asset allocation
- Asset location
- Tax strategy

…start to matter more.

But early on?

Don’t overcomplicate it.

We live in a time where you can automate almost everything:

- Saving
- Investing
- Rebalancing

The biggest risk isn’t picking the “wrong” fund.

It’s not starting or not staying consistent.

If you’re beyond the basics and ready to optimize your financial plan, I’m always here to chat!

Address

1109 112th Lane NE
Blaine, MN
55434

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 3pm

Telephone

(651)2373725

Website

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