What Is “#2ndHalfPlan”?

2nd Half Plan is about being ready for the second half of your life. Your childhood is a dress rehearsal, a training camp; you are learning how to be an adult. The first half starts in your late teens/early 20’s; you now have responsibilities. You are creating a family, developing a career, having a good time. When your second half starts, hopefully having a good time is all you have to worry about.

In Preparing for your Second Half, you need to answer a couple of Questions.            

1) What do I/we want to do? and 2) How do I/we pay for it? Figuring out what you want to do may be the harder part because it will probably change a few times along the way. Travel the world? Spend all your time with grandkids? Volunteer? Move to a cabin in the woods or a house on the beach? Generally speaking you are limited by your imagination (or your spouse’s).

Planning how to pay for your second half is the tedious part. Answering How is less fun than What. You need to understand the options available and the pros and cons of each. How much do you sacrifice today to have more for tomorrow? Is it better to use tax-deferred accounts or taxable accounts? IRA, Roth, HSA, 401(k), NUA, CRT, 529, QLAC - all of these tools may or may not be good options, and some better than others at different times in your life.

Tools For Your #2ndHalfPlan

Financial Planner in Philadelphia

Financial
Asset Analysis

Review and Assess
Inventory and Categorize
Explain and Suggest

Income Planning in Philadelphia

Investment
Management

Return efficiency
Risk awareness
Tax sensitivity

Investment Management in PA

Goal Based
Planning

Goal identification
Future projections
Assumption discussion

Retirement Planning in Philadelphia

Retirement
Income Planning

Lifestyle funding
Medicare and Social Security strategies
Survivor income

Financial & Retirement Planning in Philadelphia

Retirement Account Optimization

Account taxation
Funding selection/levels
Beneficiary & legacy planning

Financial and Estate Management in Philadelphia

Estate and
Trust Strategy

Liquidity concerns
Tax trade-offs
Bequest funding

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