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2 Ways to Take Care of Debt in Retirement
The unfortunate reality is that many Americans are now headed into retirement with some amount of debt.[1] In 2016, almost 61% of Americans were moving into the retirement stage of their life with unpaid debt.[1] And while you may think that your expenses will decrease once you retire, that isn’t always the case.[1] Sometimes, your expenses will stay…
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The Ultimate Guide to Being Your Own Barista
As a coffee aficionado, there’s a special kind of satisfaction that comes from crafting your own perfect cup of coffee. Whether it’s French press, pour-over, or Chemex, each method brings out unique flavors and nuances from your coffee beans. Here’s a step-by-step guide to help you become your own barista. French Press The French press, also known as…
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The Role of Charity in Your Retirement
Everyone wants to give back in one way or another. After you’ve spent your whole life working, you may find that in retirement, you want to give some money to charity. But if you are living off of income streams from sources like your retirement accounts and Social Security, you may be worried about finding a way to…
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The Cognitive and Social Benefits of Board Games in Retirement
As we age, maintaining cognitive health becomes increasingly important. Playing board games like Scrabble, chess, Monopoly, dominos, and poker can have significant benefits for seniors, helping them stay mentally active and engaged while also providing opportunities for social interaction.[1] Game #1 – Scrabble Scrabble is an excellent game for enhancing linguistic skills and cognitive flexibility. Players must strategically…
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A Strategy Guide for When to Claim Social Security
Deciding when you claim Social Security is a key part of the puzzle for your retirement plan. You can withdraw as soon as you turn 62, but you can also delay your claim until you are 70 years old. There are pros and cons to each, so how do you know which age is right for you? Withdrawing…
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Ancient Money: The History of Banking and Currency
The history of financial tools is a fascinating topic that takes us back to the earliest civilizations. It reveals a remarkable continuity in financial technology across cultures and epochs, highlighting the importance of these systems in societal development and economic growth. The earliest records of financial tools can be traced back to ancient Mesopotamia, where clay tablets inscribed…
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Should I Convert My 401(k) To A Roth IRA?
Let’s say you’ve just changed jobs. What are you going to do with your 401(k)? You may be able to convert your 401(k) to a Roth IRA, but is that a good option for you? In this article, we’ll talk about what happens when you make this conversion and give you some examples of different financial situations for…
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Up Your Pickleball Game!
Pickleball can be a great way to stay active while in retirement. Whether you’re an active player or you’re new to the game, this article is for you. This comprehensive review delves into three strategies, each tackling a unique aspect of pickleball. 1. The Importance of Communication in Pickleball Doubles Matches In pickleball doubles, you’ll find that…
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A Refresher on Estate Planning Basics
Estate planning is a big deal. It’s a way for us to leave what we’ve built over the course of our lives to our loved ones. Gifts of property and belongings can pass on a sense of family, care, and love and can also help your loved ones financially. So, what is the first and most important…
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A Checklist for a Successful Cookout
Organizing a successful cookout can be a fun but challenging task. Here’s some great advice to ensure your event runs smoothly and is a hit with your guests. Preparation is Key Firstly, make sure you put in the effort to prepare. Decide on the menu ahead of time and ensure you have all the necessary ingredients. Choose simple…
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Parker joined the Barnett Financial & Tax team in June of 2018. Since joining the company, Parker has grown to love the financial planning process and the role of helping craft specific financial plans for clients.
Rick Barnett, founder of Barnett Financial & Tax, began his financial services career in 1990. Since then, he’s grown his firm into a one-stop financial hub for hundreds of individuals, families and businesses in Michigan and beyond.