Patrick Coyne Financial Planner

06/16/2026

Client came in yesterday – His number 1 question?

Can I retire?

He is in his early sixties, and his employer just moved him to a new division he is not as familiar with.

We walked him through his entire retirement plan from Social Security Benefits, Retirement savings and what he would realistically need for his expenses in retirement.

Of course, retirement is not a small decision, and he is taking his time thinking about his final choice.

But now he knows exactly where he stands and can make the decision fully informed.

06/03/2026

Question
I'm 55. What does planning for retirement even look like?

Answer
At a very high level, it is just income minus expenses.

For income – add up your income sources that you have or would start using:

• Social Security
• Pensions
• Retirement Accounts

For expenses – a good starting baseline is what you are currently spending annually.

Try not to think you are going to become some huge saver now that you're retired.

Then project that out as far as you think is reasonable.

**Things not discussed above that are hugely important to your retirement plan:

• Tax planning
• Investment risk management
• Health care costs
• YOUR OWN GOALS FOR RETIREMENT

06/01/2026

What is the goal of a budget?

First, to better understand how you are currently spending your money.
Second, to push yourself and your family to spend a little wiser.

The below is our family's monthly budget categories.
Most of the other stuff like mortgage/rent, insurance, and other expenses that do not change much are hard to control month to month, so do not stress too much on them.

Food – Total budget for food. You might be shocked by how much cheaper the grocery store is compared to eating out. Also, you might be shocked by how much cheaper Walmart is compared to your nicer grocery store...

Wants – Budget for stuff you do not need but decide to get anyway. Obviously the biggest opportunity for saving. Just look at your Amazon purchases from last year to see how much of that stuff you really needed...

Unknown Necessary – It is very hard to budget for stuff that we do not know will happen but… that stuff always happens. Car breaks down, big home repair, doctor visits. Understanding how much you are spending on them helps you not stress too much about it when they do.

The lines for the budget categories can get blurry.
Just categorize each transaction quickly and move on.

If there are other categories you feel like you could push yourself on, then add it , make a budget, then track it.

05/28/2026

Question
What do I do with my old 401K account now that I have a new job?

Answer
• Keep it where it is
You do not actually need to do anything with it, if it was invested at your previous employer then that will not change unless you actively make a change

• Rollover to your new 401K account
This way you do not have any "old" accounts you could potentially forget about, may help if you would like to take a loan out on your 401K balance. Only active employer 401Ks allow loans.

• Rollover into an IRA
You could move your balances of all your old 401K accounts into a consolidated IRA. These typically have the most flexible investment options.

These are your options – The 1st one seems the least beneficial and the benefits of the 2nd and 3rd depend on your goals with the money.

A quick review of your own goals with the funds can make a big difference in making the right choice.

05/26/2026

Life changes are financial turning points too
Big moments, like a new job, getting married, or retiring, don't just change your life.
They change your money decisions too.

05/21/2026

Markets are constantly changing. Growth, inflation, and interest rates all shift over time.
Instead of trying to predict what’s next, a better approach is to build a portfolio designed to handle multiple outcomes.
That’s where an all-weather strategy comes in. Using different types of diversification to stay balanced, adaptable, and invested through any environment.

11/12/2025

"I'd rather take my money to Vegas than invest in the stock market."

Someone said this to me recently and honestly… I understand where it comes from. Putting money into something unfamiliar can feel intimidating, confusing, and risky. But here's the twist: doing nothing with your money is a risk too.

Cash sitting untouched loses purchasing power every year because of inflation.
Bonds can default.
Stocks move up and down.

Every asset has some level of risk- the real question is which risks you're choosing. Your risk tolerance isn't random. It's shaped by your goals, personality, and experiences.

My role isn't to push you into something risky. It's to help you find options that fit your comfort level and support the future you want.

If you've been sitting on the sidelines, not investing, not planning… that's a decision. Let's make sure it's one that works for you- not against you.

11/06/2025

One of the toughest questions regarding an S-Corp is when does it become worth it

11/04/2025

09/23/2025

From tax-free withdrawals to no required minimum distributions, Roth IRAs offer unique advantages. Here are a few benefits and limitations regarding Roth IRAs.

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