Robin Faulkner-Harrison, Financial Advisor - Wood Wealth Group

Robin Faulkner-Harrison, Financial Advisor - Wood Wealth Group Robin Faulkner-Harrison, CFP®, EA

Divorce is such a common life event that people forget that it is actually a trauma for a lot of families. Also, divorce...
09/11/2026

Divorce is such a common life event that people forget that it is actually a trauma for a lot of families.

Also, divorce after age 50 looks similar to one prior to age 50, except quite a bit different.

Prior to age 50, the financial setbacks include splitting lower income and assets, owing child support, not receiving child support payments you are owed, and splitting living expenses between two households, often while the former couple is still trying to get on their feet.

After age 50, you’re dividing the assets you worked for together, scarily close to when you intend to stop working. Each of you is looking at a net worth that is around half (usually) of what you started with.
While having 100% together may have worked out to greater odds of success, each of you with a portion of what you accumulated may not give you the same certainty.

Any time one goes through a divorce and receives a portion of household assets, getting with a financial advisor to help you re-establish forward momentum is important. This is especially true after age 50.

It’s often said that there is a price for peace. That has been paid in multiples with what you just went through. Let’s get you back on track.

Estate planning needs to be reviewed on occasion. Two situations that arise sometimes are- you have your will, your trus...
09/11/2026

Estate planning needs to be reviewed on occasion.

Two situations that arise sometimes are- you have your will, your trust, your medical directives, beneficiary designations, and everything completed. However, there is a gap in communication. Your heirs may not know where your assets are located, or how to see to it that your wishes are honored. Even if those wishes are how your beneficiary should use the legacy you built to give themselves and their children a better chance at financial success.

On the other side of the coin, you may have received an inheritance with very little guidance. You know that it is for you and for your benefit, but nobody has explained how to use the money you received to best improve your opportunity long term.

Normally, inheritance is also transferred during an emotionally and mentally overwhelming time- the death of a loved one.

Keeping your documents up to date is only part of the picture. Having those conversations ahead of time about where things are may help your grieving loved ones when it is time for them to make transfers.

09/11/2026

Something I wish I was better at explaining to people-

When you pay a financial advisor, you aren’t paying them to achieve the highest returns possible.

There are some who can trade their own accounts and make a substantial amount of money. The difference between that person and the one who trades their account and loses a substantial amount at a critical moment in their life is often luck and timing.

When you’re paying a financial advisor, you’re paying for more predictable outcomes. You’re paying for less variability (chances of massive wins vs catastrophic losses). You’re paying us to include enough risk to help you grow over the long term WITHOUT sacrificing money that you need today, next month, or next year.

You’re paying us to help you figure out how much money you need to have in the future, and to help you get to that amount of money. If you already have that amount, then you’re paying us to help you find the best ways to cover your expenses for the rest of your life, or leave an inheritance…whatever the case may be.

We don’t gamble the market on your behalf. Don’t get me wrong. Some of us probably could. However, it’s not our job to treat your money with the same amount of care that one would in a casino.
Our job is to get you the greatest chance of future financial success that we can based on your goals, your ability to save, your ability (and willingness) to have certain levels of risk, and how soon your financial goals need to be met.

What does your retirement look like?Besides having the freedom to travel, engage more with your community, write that bo...
09/08/2026

What does your retirement look like?

Besides having the freedom to travel, engage more with your community, write that book, or explore new interests, retirees often find themselves leading their family.

You become the source of knowledge and experience for your adult kids and their children.
You’re often directly involved with your grandkids. Sometimes you’re simultaneously caring for a loved one in advanced age.

You’re teaching your children to lead, and to continue the legacy you created or helped to maintain.

Changing jobs adds excitement when you’re advancing your career, or stress when you don’t control the terms of separatio...
09/07/2026

Changing jobs adds excitement when you’re advancing your career, or stress when you don’t control the terms of separation from your previous employer.

They can also create unique financial and tax planning opportunities in terms of what can be done with your company retirement account for the benefit of your future self.

What does your retirement look like?
09/03/2026

What does your retirement look like?

Retirement isn’t the end of the road. A lot of people consider retirement as their final financial goal. Planning- done....
08/27/2026

Retirement isn’t the end of the road. A lot of people consider retirement as their final financial goal. Planning- done. Tax work- done. Everything- done.

Really, retirement is a pivot point where you stop working for earned income, and begin living off of the money you have earned through those working years.
Several life stages happen WITHIN retirement that should be considered as ongoing financial and planning needs.

There is that initial freedom where you no longer must devote your time to earning money.

There is that point in time where you or your partner’s health starts to decline.

There is taking care of loved ones who are in advanced age.

Grand babies. Dream vacations. Having a second home. Writing that book. Preparing the next generation to lead the family after you are gone.

…and then there are the wrenches that life throws in.
Divorce
Remarriage
A disabled dependent
Sickness
Simply being forced into early retirement by your employer or your own health.

The fact is, life doesn’t end at retirement. Average mortality rates just mean that roughly half of you will outlive them.

You could very well be here for another 30-40 years.

It is a pivot point, and determining best practices for your money during these next life stages is determining what you need your money to do.

08/25/2026

Tax deferral is cool, but the only federal income tax-free money you will get to receive in your lifetime outside of a death benefit from a life insurance policy or interest from a municipal bond are the EARNINGS on a Roth IRA.

But really, it’s all important.

The goal of tax deferral into a retirement account is to incentivize you saving for retirement. Pay less in taxes now; have money when you are older and no longer working. Ideally, you also pay taxes at a smaller rate in retirement compared to your highest earning accumulation years (late in your career).

The Roth IRA comes in so you have a source of money that is not taxable as income so not every dollar you draw in retirement has to be taxable.
…and then there is the taxable account. Which, despite its name, is simply an account that is NOT earmarked for retirement, that you can draw from BEFORE and DURING retirement, and can also play a part in lessening the impacts of income tax. (These can still kick out income, but much of the earnings inside a taxable brokerage account are dividend income and capital gain. This is usually treated more favorably by the IRS).

All together, you can have a decent mix that can help lessen your lifetime tax burden while also benefitting your provisional income (used to determine what percent of your social security is taxable) and your MAGI (used to determine if you’re going to pay more in Medicare premiums, in addition to your federal tax burden).

There are actually five life stages that happen during retirement and in the years leading up to it. Not just one. Meani...
08/19/2026

There are actually five life stages that happen during retirement and in the years leading up to it. Not just one.
Meaning, once you’ve made your money, you’re not done planning.

Give me a call and we can discuss how to prepare for what is next. 307-448-0956

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404 N Street Ste 304
Rock Springs, WY
82901

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