Are Roth Conversions Going Away? Ideal Timing Insights (2025)
In the world of retirement planning, Roth IRA conversions are a standout strategy with huge potential tax savings! But here’s the thing: changes in legislation may be around the corner, potentially putting these opportunities at […]
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Irrevocable Trust Wisconsin: A 101 Guide
Planning for your future can be simpler than you think. Whether you’re trying to preserve your nest egg for family members, save on taxes, protect funds from creditors and lawsuits, or keep your personal wishes […]
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How Divorce In Wisconsin Impacts Your 401(K)
Divorce isn’t just a legal event—it’s a major life change that touches every corner of your finances. While the divorce process can feel overwhelming on its own, another curveball often comes when you realize your […]
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Key Questions To Ask Your Financial Advisor About Your Portfolio
Does your portfolio truly line up with your life objectives? You can see how your strategy aligns with your needs, timelines, and risk tolerance by asking a few key questions. If your financial goals—like buying […]
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Questions to Ask Your Financial Advisor During a Review
Meeting with your financial advisor can sometimes feel like a formality. You might even wonder if it’s worth your time. But having reviews can be a key checkup for your monetary health, ensuring you’re still […]
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Understanding Wisconsin Estate Tax Rules
After someone passes away, the government may take a slice of what they’ve left behind through estate taxes. How much gets taken depends on the estate’s value. However, there are also plenty of ways to […]
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RMDs For A Special Needs Beneficiary 2024
When it comes to planning for a loved one who is disabled or chronically ill, understanding how required minimum distributions (RMDs) work is very important. After all, RMDs can impact one’s eligibility for benefits like […]
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2024 Inherited IRA RMD Rules
Losing a loved one is never easy, and sorting through a financial mess afterward only makes things harder. Thankfully, if you’re inheriting an IRA, things can be made a lot simpler by clearly understanding the […]
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How To Pay Less Tax On Your Retirement Account Withdrawals
Retirement is your time to unwind, travel, and spend time with loved ones—not worry about surprise taxes cutting into your savings. But the reality is, without a solid plan, taxes can take a bigger bite […]
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Legacy Planning: What You Need To Know
Legacy planning, though not appropriate for everyone, goes beyond arranging finances; it’s a way to pass down what matters most to you. By considering your values, supporting loved ones, and making a positive difference, you […]
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Wisconsin Gift Tax: An In-Depth Look
When planning to pass on your wealth, it’s important to think beyond just a will or trust. The gift tax is a key factor that can impact how your estate is structured. By learning how […]
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RMD In Year Of Death: What You Need To Know
Understanding required minimum distributions (RMDs) is a big part of managing your retirement savings. These mandatory withdrawals start when you turn 73, allowing the IRS to collect taxes on the funds you’ve saved. However, when […]
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How To Tell If Your Financial Advisor Is A Fiduciary
Trust plays a significant role in the management of your financial life. For this reason, it’s important to find out if your financial advisor is also a fiduciary. In this post, we’ll break down what […]
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Retirement Income Planning: Strategies for Creating a Reliable Income Stream
Retirement income planning is all about making sure your finances are ready to support your lifestyle once you stop working. It involves organizing your money so it covers regular expenses, medical bills, and any personal […]
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17 Questions To Ask A Financial Advisor About Retirement
Getting ready for retirement is a key part of shaping a comfortable future. The decisions you make now will shape how you live later on. Whether you’re only beginning to think about retirement or already […]
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Revocable vs. Irrevocable Trust in Wisconsin
As you plan for the future, a trust can be a useful step for many Wisconsin residents in managing their estate. Trusts (and wills) give you control over how your property is handled and allow […]
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Capital Gains Tax in Wisconsin: Everything You Need to Know
Grasping the concept of capital gains tax is important for residents of Wisconsin, especially those who invest or run businesses. Knowing how these taxes work can significantly affect your financial outlook, helping you take measures […]
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Wisconsin Pass-Through Entity Tax: Everything You Need To Know
Taxes for business owners can be overwhelming, and understanding the Wisconsin Pass-Through Entity Tax (PTET) only adds to the challenge. In this guide, we’ll walk you through every aspect of PTET, from what it is […]
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Consolidating Your 401ks: From Chaos to Control
Are you tired of keeping track of multiple 401k accounts from previous employers? Are you overwhelmed by the thought of managing different investment portfolios and tracking their performance individually? Consolidating your 401k accounts may be […]
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Inheritance Tax in Wisconsin: Here’s What You Need To Know
Understanding inheritance and estate taxes can be challenging due to the different rules at the federal and state levels. Whether you’re planning your estate or managing an inheritance, knowing these laws is vital for minimizing […]
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Understanding Estate Planning In Wisconsin
When you think about the future, you’re likely concerned about protecting what you’ve worked for and making sure your loved ones are safe. The right estate plan helps you do both. However, understanding estate planning […]
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Your Final Gift: A Checklist for End-of-Life Planning
Peace of mind is a final gift you can give your loved ones—affording them the knowledge of your end-of-life wishes. Creating a plan for your loved ones when you die is an essential part of […]
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Loss of Spouse Checklist: 10 Things to Do After Your Spouse Dies
Losing a spouse may be one of life’s most difficult and painful events. As many widows will tell you, there is no way to be truly prepared for it. The decisions you have to make […]
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The True Cost of Owning a Second Home in Retirement
Retirement is full of wonderful possibilities. When you don’t have to show up at the office, you can spend your days just about anywhere you please. Maybe you’ve always pictured yourself at the beach or […]
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Investing Outside of 401k: The “Where to Invest Next” Order of Operations
The goal of retirement is to live out your golden years in comfort, correct? Then it’s critical to make the most of your retirement savings strategy. And for many, contributing to an employer-sponsored 401k plan […]
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Should Couples Retire Together or Separately?
After spending decades working hard and earning paychecks, it seems like a given that a married couple would want to sail off into the sunset to enjoy their new enriching life together. However, it may […]
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A Financial Wellness Check: Preparing for a Prosperous New Year
As we approach the end of the year, there is no more critical time for planning your finances. It’s your last opportunity to review where you are with your 2023 goals and your best opportunity […]
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Credit Freeze: What is it and When Does it Makes Sense?
If you’ve applied for credit or a job, you know how essential your credit report is. Lenders rely heavily on them for evaluating your financial history to determine if you qualify for a loan or […]
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Using Tax-Loss Harvesting to Minimize Capital Gains Taxes
So far, in 2023, investors are enduring a bit of a roller coaster ride, with stocks producing gains through mid-year and sliding into losses toward year-end. While stock market downturns are inevitable, there’s no way […]
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10 Benefits of Dollar Cost Averaging (DCA) as an Investment Strategy
Concerns about volatility and competing demands for your money can make investing challenging. Dollar cost averaging (DCA) is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of the […]
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Medicare Enrollment: 5 Tips for Choosing the Best Plan
The complex Medicare landscape makes enrollment a daunting process. There are so many options to consider, each with its own medical and financial implications. Whether you’re new, or reassessing a current plan, the Open Enrollment […]
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Case Studies: Real-Life, Pre-Retirement Debt Payoff Success
Managing debt as we near retirement is a great way to free up cash flow and offer peace of mind. It’s a relief to know your investments and assets have increased financial security as you […]
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The Key to a Fulfilling Retirement: It’s All About Connection
In 1938, an ambitious project began at Harvard University. Researchers aimed to answer a straightforward yet elusive question: What truly brings happiness in life? Their study spanned an impressive 85 years, collecting insights from 724 […]
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Tax Strategies for Retirees: How To Take the Right Decisions
As we approach the latter part of the year, it’s essential to focus on the coming tax season and how the changing tax landscape might affect our financial decisions, particularly for retirees. This year, President […]
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Medicare: What is it? What it Covers & Other Health Insurance Options
Retirement—that milestone you’ve worked so hard to reach—is now just around the corner. With your retirement savings in place, it’s time to explore your healthcare options, and Medicare is a key piece of the puzzle. […]
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Why and How to Map Out What Your Life Will Look Like in Retirement
Retirement—the golden phase in one’s life when the hustle and commitments take a back seat, and well-earned rest and leisure time take the wheel. However, retirement isn’t just an extended vacation; it’s a significant life […]
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How Long Does Your Money Need to Last in Retirement?
Planning for retirement can often feel like trying to hit a moving target. It’s an endeavor rife with variables, each with a degree of uncertainty. You’ll need to account for fluctuating markets, evolving personal goals, […]
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How to Make Sure you Don’t Run Out of Money: Retiring in a Down Market
As a seasoned financial advisor, I’ve seen it all: the triumphs, the trials, and most importantly, the worries that keep retirees awake at night. High on that list is the fear of running out of […]
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How to Maximize Your Retirement Income for Greater Freedom & Flexibility in Your Golden Years
You’ve tied up all the loose ends before walking out the door on your last day, the farewell office party’s over, and the future stretches out like an endless vacation…you’re finally on the brink of […]
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Tax-Smart Investing: 5 Ways to Reduce Taxes on Investments
For high-income earners, investment taxes can seem like a constant drain on their hard-earned returns. However, with the right strategies, you can minimize your tax burden and keep more of your money working for you. […]
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Spring Cleaning Your Finances
Did you know that according to the Cleveland Clinic, the mental health benefits of “Spring Cleaning”—the annual practice that prioritizes decluttering and organizing one’s living space—can have positive psychological effects? It appears that the process […]
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The Best Financial Plan is the One You Can Follow: A Study on Risk Tolerance
Let’s talk about something that doesn’t get the recognition it deserves—risk tolerance. This is a crucial part of developing a financial plan that works for you and helps you achieve your longer term goals. The […]
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How to Make Last-Minute IRA Contributions
If you hurry, you can still lower your 2022 tax bill. Yes, it’s true. While most tax-saving actions must be completed by year-end to count for that year’s return, taxpayers can continue making contributions to […]
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5 Things That Matter More Than Money for a Happy Retirement
Retirement is a stage of life that most of us eagerly anticipate. After all, those well prepared for retirement have given their time, energy, and emotions to a long and successful career. And now, FINALLY, […]
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Tax Domicile: How To Maximize Retirement Savings
Relocating in retirement is relatively common, especially to a state with nicer weather, lower property taxes, and low (or no) state income tax. Determining your tax domicile is crucial for retirees looking to optimize their […]
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Four Reasons to Delay Social Security Benefits
At a certain point in our adult working lives, we set a countdown to retirement. And the clock is ticking for those nearing 62—the age at which you can start collecting Social Security benefits. By […]
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How Secure is Social Security?
Long touted as a program that would ensure the “American Dream,” the Social Security system – one of the critical achievements of President Franklin D. Roosevelt – was created in 1935 to promote economic security. […]
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6 Often Overlooked Retirement Concerns
Retirement planning is a multi-step process that evolves over time. To have a comfortable, secure, fun and fulfilling retirement, you have to build a nest egg robust enough to fund your retirement lifestyle. Pulling this […]
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New Retirement Contributions for 2023
Well, here we are, nearing the end of another year. Now is the time where people commonly wrap up their to-do list before December 31st hits and anticipate what might change for the year ahead. […]
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Step-Up in Basis Explained: What You Need To Know
Estate planning looks different for every client. For those with young children, it might mean designating a guardian and preparing for their financial future. For others, it will mean choosing someone to handle the administration […]
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How to Protect Your Retirement from Inflation
Are you living comfortably in retirement, or do the latest news headlines have you concerned about your future? With inflation the highest it’s been in 40 years, 70% of Americans consider it a big deal, […]
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The 6 Most Common Myths of Health Savings Accounts (HSAs)
Health Savings Accounts (HSAs) offer myriad benefits, from their triple-tax advantage to assisting those with high-deductible health plans (HDHPs) to cover out-of-pocket expenses. But the thing that may surprise you most is that an HSA […]
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6 Tips to Stay Calm During a Market Downturn
Scroll through any newsfeed, and you’ll encounter attention-grabbing headlines about a sluggish economy, rising interest rates, and threats of an impending recession. And while this news is unsettling, it’s essential to remain calm, cool, and […]
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How to Retire During a Recession
You’re so close you can taste it. Your first post-retirement vacation is planned. You’ve prepared for years for this next glorious chapter – and then – a financial downturn. Now what? First, remain calm. You’ve […]
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Why Americans Are Retiring Now More Than Ever
With inflation at its highest point in 40 years, it would only be natural to see people holding tight to their jobs. After all, you need your paycheck more than ever with the increasing cost […]
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How Rising Interest Rates Could Affect Your Finances
Raising interest rates as a measure to combat inflation has been a hot topic lately. Not only did the Fed increase rates by 0.5% at its May FOMC meeting, but increased them again by a […]
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Tax Loss Harvesting: Is Peak Inflation Behind Us?
The highest inflation in 40 years has rattled consumers, most of whom have never experienced runaway high prices. Unless you’re well into your 60s, this type of environment is new. However, there is hope that […]
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Time Value and Potential Income: Understanding Opportunity Cost
With all the recent coverage and attention inflation has been getting lately, it’s no secret inflation is a growing concern for many. The cost of everything is up, and the supply chain is still facing […]
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Graduation Season is Upon Us
It’s graduation season. What an exciting time for high school and college students to be moving onto the next big phase! Exciting, but nerve wracking too. This is a time of incredible growth, development, gaining […]
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Why a Single Retirement Number is Misleading
Maybe you’ve seen it referenced in ads. Maybe you’ve read it in articles. Maybe you’ve even heard it from a financial planning professional. There is a notion that everyone has a magical retirement number and […]
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Investing in a Down Market: 5 Strategies
Stock market downturns are never welcomed, but they are inevitable, which is why you should know how to invest in a down market. Even the most sophisticated investors can’t predict when they will occur or […]
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What Is a Living Trust and Does It Make Sense for You?
Regardless of its size, the goal of an estate plan is to facilitate the transfer of property and assets to your family with the least amount of cost and friction. As you work through the […]
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Nearing Medicare Eligibility? Beware of the IRMAA Tax Bump
Typically, the subject of Medicare doesn’t pop up on anyone’s radar until they’re near age 65. By then, they know they will be required to pay a baseline Medicare Part B premium ($177.10 in 2022). […]
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Tired of Retirement Already? 5 Tips for Staying Fulfilled When the Novelty Wears Off
You were so excited to retire. You did it all right and saved and planned and saved and planned. And you’ve taken full advantage so far. You’ve been on numerous cruises in the past few […]
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Understanding Market Volatility & Why It Isn’t Always Bad
Since the beginning of the pandemic, the stock market sure has given investors some reasons to feel concerned. It’s been a rollercoaster of ups and downs from the crash in March 2020 to the huge […]
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For Love and Money: How to Keep Your Relationship Free from Financial Stress
Has money ever caused a rift in your relationship? If so, you’re definitely not alone. According to an annual study by Fidelity Investments (who coincidentally has a very “punny” name when it comes to this […]
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Top 3 Challenges of a Fixed Income for Retirees
In retirement, your only real challenge should be choosing between what umbrella drink you want or what trip to take next. (Pina colada and Bermuda being the obvious answers.) But in between all the relaxing […]
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3 Financial Mistakes to Avoid as You Approach Retirement
If you have retirement in your sights, you can feel good about all the work you put into building your retirement nest egg—not an insignificant accomplishment by any measure. However, as you gaze into your […]
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401K, SEP, Simple, or Other? Which Retirement Account Should You Offer Your Employees?
With the recent extinction of pension plans, workplace retirement plan options have become a cornerstone of most employee benefits packages. Not only do these plans help employees save and invest for their future, but often […]
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The Good, the Bad and the Essential Facts About Social Security
If it feels like tax rules and retirement plan limitations are constantly changing, that’s because they are. And, once a year, Social Security benefits are also reviewed and up for potential adjustments. So, while the […]
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5 Ways You Can Get Ahead of Inflation
Inflation. It’s a word that triggers either confused wrinkles on faces or deep financial concern depending on who you are. But it’s a very real thing happening right now. Just look at the huge markup […]
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4 Tax Moves to Bust Out at the End of the Year
The end of the year can be really taxing, and we don’t just mean all the craziness of the holidays. We mean the Uncle Sam kind of taxing. The financial world is constantly changing, especially […]
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5 Years to Retirement? Here’s How to Master Your Retirement Income Plan
Your working life is almost over, but the work isn’t done yet. With just five years until you retire, it can be tempting to just coast the rest of the way and sit back and […]
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3 Reasons Why Now is a Dangerous Time to Invest On Your Own
There’s a lot going on right now in the stock market, and a lot in the country and the world that influences it. From federal government policy and the pandemic to crypto currency and supply […]
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Sheena’s Lifestyle Blog: Halloween!
I love Halloween. I don’t even know why exactly or when it started, but there’s something about this time of year. It’s fun, mysterious, and especially beautiful in Wisconsin. To clarify, I’m not talking about […]
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Sequence of Returns Risk: The Biggest Financial Risk for Retirees and How to Guard Against It
You followed all of the rules: Start saving early. Don’t touch it; just let compound interest do its thing. Diversify your portfolio. Now you are primed for the retirement you’ve always dreamed of. Lake-side fishing […]
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Investing for Income: A Retirement Planning Necessity
When you stop earning a paycheck and start relying on your retirement savings and investment accounts to cover your living expenses, you can’t afford to wing it or hope for the best. This is where […]
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Market Cycles: Understanding The Bull and the Bear
What is the first image that comes to your mind when someone mentions the stock market? Is it the frenzied trading floor on Wall Street? Is it the scrolling of green and red numbers on […]
Read More How Does Social Security Fit into Your Retirement Plan?
Throughout your working years and with just about every paycheck, you have paid taxes into Social Security, which go towards helping support other Americans who are eligible to receive Social Security benefits. When you retire […]
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5 Overlooked Tax Strategies to Consider When Retirement Planning
If you were thinking that once you reach retirement, you can finally put your finances on autopilot, you’d be mistaken. Yes, it’s true. After decades of hard work, careful planning, and tireless saving, you may […]
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Uncommon Cents Launches New Website
Uncommon Cents is pleased to announce the launch of our new and improved website! The new site went live on June 17th. In a world where financial advisory firms are not created equal, our goal […]
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Windfall Taxes: 6 Ways to Limit Them
Windfalls are curious events. By definition, windfalls are large, oftentimes unexpected financial gains that most commonly result from an inheritance, a lawsuit, a property sale, lottery winnings, monetary gifts from family, or even a significant […]
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COVID-19 is Affecting Social Security Benefits: Here’s What You Can Do About It
The light at the end of the COVID-19 tunnel may be drawing nearer and getting brighter as the CDC lifts restrictions and life resumes some semblance of normalcy; but, the long effects of this virus […]
Read More What Investors Need to Know About the Threat of Inflation in 2021
Everyone seems to have an opinion about where inflation is headed this year, especially in the wake of President Biden’s third dose of COVID-19 economic relief. The latest $1.9 trillion American Rescue Plan brings the […]
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REST. REFLECT. REGROUP. MOVE FORWARD.
We are officially past spring-break season and moving into summertime at sprinter speed! Sure, we toot the horn of saving and investing for the future, but what about enjoying the now a little bit too? I was […]
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What’s Your Retirement Number? Estimating Retirement Expenses
Planning for retirement can sometimes feel like taking a shot in the dark. How do you know if you’re saving enough? Will the market, inflation, or tax law changes derail my plans? How can I […]
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How Online Trading is Threatening Young Adults Right Now
What do Reddit, TikTok, and Robinhood have in common? They are all contributing to a huge problem plaguing young, vulnerable, and inexperienced investors. These all too easily accessible platforms are being used to glamorize (1) […]
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Preparing for the Personal Side of Retirement
Retirement isn’t what it used to be—and that could be great news! Thanks to advances in health and technology, individuals are living longer lives and, therefore, enjoying longer retirement periods. Sounds great, right? Who is […]
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4 Smart Ways to Accelerate Retirement Savings
Recent retirement planning surveys conclude that more than half of retirees have retirement planning regrets. The main regret: Not saving enough. The second runner-up: Not saving sooner. But hindsight is 20/20 and you can’t change […]
Read More Not Your Grandfather’s Retirement Plan: How Retirement Planning is Changing
At first glance, it may seem that retirement planning hasn’t changed much over the years. While you work, you accumulate resources to fund your non-working future, and then retire. However, today’s savers face different challenges […]
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Max Out 401k: What To Do After That
While this may sound counterintuitive, saving and investing for high-income earners is no easy task. Sure, you might earn a hefty income, but what is the best way to invest it to prepare for a […]
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Kiss Procrastination Goodbye in 2021
Waiting for a sign to get your financial house in order? Well, consider this it. Procrastination is an unfriendly foe that can make saving and investing much more difficult than they have to be. You […]
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Building Your Retirement Paycheck
One of the most unnerving parts of retirement planning is deciding how you will generate a steady income stream from your accumulated resources. Many of you have likely spent decades receiving a steady paycheck from […]
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When to Claim Social Security: How To Choose the Best Time
Fitting the Social Security piece into your retirement puzzle can be a little tricky as there are a number of factors that can influence the amount of benefit you receive. These include whose earnings record […]
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