Phil Schlitter - Financial Planner

01/30/2023

I see a lot of articles focusing on the risk of outliving your savings. It's important to be aware of that risk, but more important to have a financial plan in place that reflects your goals. Once you have a plan, THEN you should look at solutions. If you need help building your financial plan, I can help.

Baby boomers are using up their retirement savings too quickly –either because they're underestimating how much they need or are living longer than they'd guessed they would. New research from the Center for Retirement Research at Boston College found that … Continue reading → The post Boomers...

01/27/2023

Good estate planning tips in this article but remember that everyone has an estate. You don't have to be wealthy to need an estate plan - you just have to have someone or something you care about. If you have questions, let's talk.

If you have a high net worth, it's important to have a good estate plan in place. While putting these plans together can be tricky no matter the circumstances, things get more complicated if you have a high net worth. There … Continue reading → The post High-Net-Worth Estate Planning: 2022 Guide...

01/25/2023

Sharing this for the educational value, but ultimately you should use a financial solution based on whether it fits your needs and meets your long- and short-term goals.

Love ’em or loathe ’em, annuities can be a smart investment tool for the right person under the right circumstances.

01/23/2023

Great illustration of the concept of "sequence of returns" risk - now what do you do about it? If you want to talk about safeguarding your portfolio, let's talk.

Adjusting your portfolio to minimize the sequence of returns risk could help your money last well into retirement and beyond.

11/23/2022

The tips in this article are great, but they require putting aside some savings that, in this high inflation environment, you may not feel like you have. Don't worry about saving the maximum; just concentrate on saving, even if it's just a little.

Planning for retirement is one of the most important financial tasks most Americans have to consider. Almost no one wants to work forever, but those who fail to plan adequately for their retirement will find themselves either working into their golden … Continue reading → The post 5 Retirement C...

11/22/2022

While there's no way of knowing what the impact of taxes will be on your retirement, there are strategies that you can use to help minimize the impact. If you need help with your strategy, let's talk.

Making your retirement plan more tax efficient now, says financial planner Shawn Mueller, can potentially save you some big tax headaches (and bills!) later.

08/24/2022

🛎️🛎️🛎️ Executive Order for Student Loan Forgiveness 🛎️🛎️🛎️

- Earlier today, Biden issued an executive order to cancel $10,000 in student loan debt for borrowers earning less than $125,000 individually or $250,000 for households.

- Students who received Pell grants are eligible to receive up to an additional $10,000 in debt forgiveness.

- Biden also extended the pause on loan payments until the end of the year.

Please note that this applies to anyone who took out a federal loan prior to July 1st, 2022.

08/16/2022

Unsure of where the economy is headed? You’re not alone… This article provides an interesting perspective.

Because of the Covid pandemic, 2020 was an epoch-changing year. Much like the 9/11 terrorist attacks in 2001, the full effects won't be understood for years.

07/27/2022

The internet won't give you the answers that a professional will! Lets talk about your retirement goals.

No hard-and-fast rules exist when it comes to when you should retire or how much you need to have saved. But don’t tell that to the Internet.