The Parady Blog
At Parady Financial, we belive that education is paramount!
Want To Help Your Kids? Smarter Financial Strategies For The Next Generation
For most of us, helping our kids is a no-brainer; leaving a legacy is a high priority for many retirees, but figuring out how to do that isn’t as simple as drawing up a will. In fact, without proper planning, leaving an IRA to a child who’s more of a saver could cost...
How To Beat Debt In Retirement
When we think about retirement planning, many people focus more on money coming IN, rather than money going OUT. We’ve talked quite a bit about how minimizing taxes in retirement is a crucial strategy for maximizing your income, but there’s another factor that is...
How to Secure Your Retirement While Caring for Elderly Parents, Adult Children, and Grandchildren
Retirement isn’t as simple as it used to be. Today’s retirees can’t just focus on when they want to downsize or where they want to golf next; they’re juggling responsibilities that much of the previous generations didn’t have to face. Thanks to medical advancements...
3 Conversations Every Couple Needs to Have Before Retirement
Are you and your spouse planning for retirement, or are you just saving for retirement? It’s an important distinction that people tend to miss. If you’re focused on saving, saving, saving, there’s a good chance you’ll get to “the good years” and have a lump sum, but no idea of how you actually want to […]
4 Expenses That Could Drain Your Retirement Accounts
If you ask how you can increase your income stability in retirement, there’s a reason why one of the first things we’ll look at is tax planning. Does that surprise you? Most retirees looking to build up a buffer against uncertainties like market volatility, inflation,...
When Is the Best Time to Purchase Life Insurance?
How much time did you spend in your twenties thinking about life insurance? If you’re like most people, not much, if any. The exception is if you lived through an experience where your family did–or, sadly, didn’t–have the safety net of life insurance when it was...
Is It Worth the Risk? How to Evaluate Financial Decisions
You’d be hard-pressed to find a word people hate hearing more than “risk” in the context of their financial plan, which is no surprise. We want our financial decisions to generate reliable, predictable results! However, as the saying goes, you can’t have your cake and...
Overcoming the Top Four Causes of Anxiety in Retirement
Not many people, if any, include “learn how to reduce stress” on their pre-retirement checklist. And why would they? Retirement is a season of life in which your worries melt away, you golf or travel to your heart’s content, and you can bask in the payoff of all those...
How To Lower Taxes in Retirement By Combining 3 Asset Types
One of the biggest surprises many retirees encounter is the taxes during retirement. While many people do see lower tax rates after retiring, it’s not the guarantee that many were led to believe. In fact, the more you save for retirement, the greater the likelihood...
How to Leave a Tax-Free Inheritance
We talk a lot about saving for retirement and managing income once you get there, but it’s just as important to plan for the steps after that: leaving an inheritance, and hopefully setting the stage for generational wealth. The same factor that makes it difficult to...
Are Tax-Deferred Accounts Undermining Your Retirement Savings?
Saving for retirement is something that we all do (hopefully). But do you ever stop to ask yourself why? It’s not about accumulating “just in case” money or being able to travel the world, although neither of those is a bad thing. They’re certainly both parts of why...
The Secret to a Stress-Free, Satisfying Retirement
Retirement is meant to be a relaxing, enjoyable season of life in which you can kick your feet up and enjoy the fruits of your labor. However, many retirees have accumulated plenty of savings but are so afraid of outliving them that they overcorrect into frugality. In...