Pratt Wealth Management

09/03/2026

Five years from retirement? That’s when small mistakes can have big consequences. Here’s what to consider:

• Don’t rush the Roth: Maxing out Roth contributions right before retirement can mean paying higher taxes than necessary. Converting funds after retiring, when income drops, may be more tax-efficient.

• Build flexibility: Having all your savings in retirement accounts limits your options. Keeping some money in taxable accounts may help cover big expenses without triggering large tax bills.

• Know your number: Calculate your real monthly spending and run projections. Without clear expenses and a finish line, it’s difficult to know if you’re truly ready.

Source: https://bit.ly/4aVWIsd

When retirement is in reach, financial planning gets serious — and there's a heightened risk of making serious mistakes, too. Here are five common slipups.

09/01/2026

A fulfilling retirement usually takes more than a financial plan. Here’s how to make the transition more meaningful:

Plan before you leave: Talk to people who are already retired, consider easing in with part-time work, and think about what you want daily life to look like.
Bring your values with you: If work gave you connection, creativity, or purpose, look for ways to rebuild those through volunteering, hobbies, travel, or community involvement.
Create structure: Too much open time can be difficult, while a routine can help support mental and emotional well-being.

See what experts say can help you thrive after leaving the workforce: https://bit.ly/4avLjPd

Infusing retirement with meaning can help people make the most of this new phase of life, experts say.

08/31/2026

Do you have leftover 529 funds? You might get money back penalty-free under these circumstances:

🎓 Scholarship recipient
🎖 Military academy attendance
🔁 Roll 529 funds into a Roth IRA (up to $35K)

See all the ways to avoid the 10% hit: https://bit.ly/3S0BGhT

Learn how to withdraw 529 plan funds penalty-free for non-qualified expenses in specific situations, including scholarships, and manage your educational savings efficiently.

08/28/2026

Think you’re on track for retirement? Only half of Americans ages 65–74 have savings, and success is more about how well your funds are used rather than how much you have:

• Build Flexibility: Social Security covers the basics, but a 401(k) or IRA helps handle healthcare costs and market changes.
• Spend Smarter: Retirement isn’t just saving, but aligning income, taxes, and withdrawals to support your lifestyle.
• Make It Count: The 85-year-old version of you won’t regret the trip you took, only the one you didn’t.

Source: https://bit.ly/4cfXFLv

Data from the Fed shows how common retirement savings are among older Americans and the average amounts they report.

08/27/2026

Your financial life has a lot of moving parts—and no single professional covers them all. Here’s who to call and why:

📊 Advisor: Big-picture planning and investments
💼 CPA: Tax prep and strategies
📜 Estate Attorney: Wills, trusts, and legacy planning
🛡️ Insurance Professional: Life, disability, and long-term care

Learn how they work together and which ones might fit your needs: https://tinyurl.com/ydf3ajyy

Learn how a financial advisor, CPA, estate planning attorney, and insurance professional can work together to support your financial goals.

08/25/2026

Teaching your kids about money could save you from future financial headaches. Experts suggest discussing spending habits, offering allowances, and even turning savings into a competition. Learn creative ways to make finance fun for children: https://bit.ly/2yZFlnw

Set your kids up for long-term financial success by teaching them early about money.

08/24/2026

Many people wonder: Would your loved ones know what to do if they suddenly had to make financial decisions alone? A comprehensive legacy plan can help by:

📃 Keeping documents organized and outlining what you want to happen with major assets
🗝 Involving both partners in key conversations
🗨 Building a strong relationship with an advisor who understands your family’s needs

Source: (https://bit.ly/decseries4)

08/20/2026

When it comes to credit cards, how many should you have? While multiple cards can help you earn more rewards and increase your credit, that could backfire if you lose track of payments and end up paying late fees. Learn the factors to consider: https://bit.ly/3SqElCu

Having more than one card can help you maximize your rewards and raise your credit limit, but keeping track of payments could be challenging.

08/19/2026

Retirement planning isn’t just about saving—it’s about strategy. Three key decisions can make or break your financial future, and even the experts disagree. Find out what these choices are, and how to navigate them: https://bit.ly/45fb6tf

Not even experts agree about the 'right' withdrawal rate, long-term-care insurance, and annuities.