A Financial Advisor Can Prepare You for A Wintery Market

A Financial Advisor Can Prepare You for A Wintery Market Barnett Financial And Tax

When the winter season comes around, you’ll likely have to adjust your routines and prepare for the cold. If you’re in colder states, you may be looking to purchase a new winter coat or snow boots, or skiing equipment for your winter holidays. Or you may be restocking your snow salt for what are soon-to-be…

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Traveling in Retirement on a Budget

Traveling in Retirement on a Budget Barnett Financial & Tax

Retiring is a lifetime achievement marking a new chapter of exploration, journey, and relaxation. That’s why so many retirees choose to travel when they enter retirement! But affording the retirement you planned for isn’t a walk in the park, especially nowadays with inflation affecting where and how we spend, especially when it comes to traveling.…

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5 Key Components to the Retirement Bucket Strategy

5 Key Components to the Retirement Bucket Strategy Barnett FInancial & Tax

Saving for retirement is a long-term endeavor. It’s not about finding the next hottest stock or trying to get rich quickly. It requires a different perspective on your wealth and income that accounts for your needs in different stages of your life, from the beginning of your working years through your retirement. These five key…

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What Is a QCD and How Does It Work?

What Is a QCD and How Does It Work? Barnett Financial and Tax

You might expect your tax burden to decrease in retirement – after all, you’re no longer receiving a paycheck that incurs income tax, payroll tax, and Medicare tax. However, your income in retirement could be significant between investment income, rental properties, pensions, Social Security, and retirement account withdrawals. Then starting at age 72, you will…

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Inflation and a Gallon of Milk

Inflation and a Gallon of Milk Barnett Financial & Tax

In 1960, a gallon of conventional whole milk was 31 cents, and today it’s $4.21 on average.[1] A few dollars might not seem like much, but that’s a 1,258% increase! Now that we’re seeing high inflation, the buying power of your money – including your retirement savings – could be seriously impacted. When calculating how…

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Inflation Finds its Way to Your Wallet

Inflation Finds its Way to Your Wallet Barnett Financial & Tax

There’s no doubt that people have been feeling the effects of inflation on their wallets. Everything from food to gas to home repair products seems to be increasing every day. Federal Reserve Chairman, Jerome Powell, is taking inflation very seriously, raising interest rates to combat the explosion of inflation. And although the moves have made…

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Don’t Succumb to the Fear of Missing Out

Don’t Succumb to the Fear of Missing Out Barnett Financial & Tax

If you’ve followed markets or financial news, especially in the past few years, you may have come across the term “fear of missing out,” commonly abbreviated to FOMO. When markets keep going up, FOMO can start to creep in. It can start to feel like you’re leaving gains on the table by not rebalancing your…

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What NOT to Spend on During Inflation

What NOT to Spend on During Inflation Barnett Financial and Tax

Are you feeling shocked at how expensive your regular expenses are? Well, you’re not alone. Many Americans are feeling the burn as the price of daily goods increases due to stimulus checks and supply chain shortages. As the economy gets back on its feet after the COVID-19 lockdowns, inflation will likely stick around. However, inflation…

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Retirement Requires a New Perspective on Wealth and Income

Retirement Requires a New Perspective on Wealth and Income Barnett Financial and Tax

This 4th of July, you may be throwing a party, watching fireworks, barbequing something good, or all the above. But what remains important is that you can do all that with family and loved ones. Last year on the 4th, you may not have worried about market downturns or cost-of-living increases, but with market volatility…

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You’re Ready to Retire – But Are Your Finances?

You’re Ready to Retire – But Are Your Finances? Barnett Financial and Tax

Many people feel ready to retire, but fewer are financially ready to do so. It’s one thing to feel you’ve accomplished enough in your career or even that you’ve saved enough, but it’s another to have a plan in place that covers everything important. If you’re ready to retire, consider your finances. Have a Plan,…

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