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Losing a loved one is hard enough without having to deal with the financial aftermath. When a spouse passes away, their partner may encounter unexpected money and tax burdens that can potentially spiral out of control. The added obligation is sometimes called “the widow’s penalty.”

Depending on the state’s tax laws, surviving spouses may contend with an overall reduction in income. That can come on top of rising Medicare expenses and higher tax liability, even after the partner’s death.

However, with deliberate and careful tax planning, survivors can help lessen or relieve some of the excessive expenses in the widow’s penalty.

Women often juggle a world of responsibilities, from building a career to caregiving for parents and children. This often leaves retirement planning at the bottom of the to-do list. Fortunately, supporting women in retirement planning is a key focus of my practice. As a financial advisor, I collaborate with women to create personalized financial plans that bring them closer to their goal of a fulfilling and worry-free retirement.

As parents, we love giving gifts to our children. One of the best parts of Christmas for adults is seeing the joy and delight on our kids’ faces when they open their presents. Now that you are nearing or are in retirement, you have worked hard to provide for your children and want to continue doing so as they navigate adulthood and their own parenting journey. This is why many parents are wondering if a traditional inheritance still makes sense. Is it necessary to wait until you pass away to share your wealth with your kids? In this article, we look at some accelerated inheritance strategies and what you should consider before deciding if now is the right time to give your kids money.

The truth is that, typically, women fare worse financially after a breakup. This is especially true for women who have substantial assets, joint accounts, or care for children. That’s why financial planning for single women is so crucial to helping them move forward successfully.

Infiniti Wealth Management is committed to compassionately assisting women during pivotal moments in their lives. Despite my proficiency in simplifying financial intricacies, I acknowledge the significance of respecting the unique journeys of women and the diverse challenges they encounter.

Please join me as we explore essential factors to consider with your financial advisor during a transition.

Throughout life, most of us spend the majority of our time concentrating on gathering money, possessions, and experiences. But as we age and move closer to retirement, it’s important to become aware of the transition called decumulation. Decumulation is the process of carefully spending your assets in order to maintain your lifestyle in retirement, and it’s a bit more complicated than the accumulation phase.

During accumulation, the goal is to save and invest wisely over time, which seems pretty straightforward. But decumulation adds complexity and involves carefully spending your saved money in a way without depleting your funds.

For many of our hardworking clients, the transition to the decumulation phase can be intimidating. Despite having a large savings fund, the idea of no longer receiving a regular paycheck can cause stress and anxiety. We often reassure them that with careful planning and spending at an acceptable level, they’ll be okay—and we’ll be guiding them every step of the way. In this article, I discuss 7 traps and pitfalls to avoid in the decumulation phase so you can experience a comfortable, carefree retirement.