The Potential Hidden Costs of Inflation

The Potential Hidden Costs of Inflation Barnett Financial & Tax

You’ve probably heard about or experienced the effects of inflation – everyday items can cost more, and the monthly inflation numbers make the news. While the increased costs we see on a regular basis can have an impact on our finances, there may be some potential hidden costs to inflation we don’t necessarily see right…

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Tips On How to Be a Lifelong Athlete

Tips On How to Be a Lifelong Athlete Barnett Financial & Tax

If you’ve been watching tennis, you may be interested to know that about 12% of U.S. tennis players are between 45 and 55, and 11% are 55 and older.[1] There are many sports that you can enjoy and excel at in your 50s and beyond. Plus, regular exercise could help you stay active for longer…

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Examining the Future of Social Security, Medicare, and Your Taxes

Examining the Future of Social Security, Medicare, and Your Taxes Barnett Financial & Tax

The Social Security trust fund is now expected to be depleted by 2034, according to a recent report from the Social Security and Medicare trustees.[1] That’s one year earlier than they reported last year, and the pandemic is to blame. Less was collected in payroll taxes when unemployment was high, and more people claimed benefits.…

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How Prepared Are You for an Emergency?

How Prepared Are You for an Emergency? Barnett Financial and Tax

When we consider everything life can throw at us, it seems important to prepare for setbacks. We’ve seen forest fires in California, Hurricane Ida, flooding in Tennessee, plus a continuation of COVID. There’s no getting rid of all the risks in life, but a solid plan goes a long way, whether it’s having a first…

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How Would You Handle a Retirement Curveball?

How Would You Handle a Retirement Curveball? Barnett Financial & Tax

Sometimes life gives us lemons, as the saying goes. In order to make lemonade, you need a plan. Whether it’s a financial crisis or a personal setback, there are events that can upend your retirement if you’re not prepared. Have a plan for handling retirement curveballs if they come your way. An Earlier-Than-Expected Retirement It…

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Are There Four Stages of Retirement?

Are There Four Stages of Retirement? barnett financial and tax

Everyone talks a lot about how to prepare for retirement financially. But what about how to adjust your mindset in retirement and manage expectations? You might not be happy every single day in retirement, but that doesn’t mean your retirement won’t be happy. Transitioning into retirement is no small task, and research shows that the…

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Three Eroding Forces on Your Retirement Savings

Three Eroding Forces on Your Retirement Savings Barnett Financial and Tax

Over 60% of Baby Boomers are more afraid of running out of money than of dying, according to a recent survey.[1] Even retirees who have saved a substantial amount for retirement may be worried about outliving their savings, and there may be good reasons for this. The potential for higher taxes, inflation, and healthcare costs…

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3 Priceless Pieces of Retirement Wisdom

3 Priceless Pieces of Retirement Wisdom Barnett Financial and Tax

You’ve worked the majority of your life and deserve to have many blissful years ahead. With a proper plan and execution strategy in place, you should be on track to accomplish your retirement goals and dreams. But while working on your finances, take time to consider these three priceless pieces of retirement wisdom. The first…

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