Dunncreek Advisors, LLC is a Fee-Only, Fiduciary Financial Advisory Firm.
How do I know if I can retire?

How do I know if I can retire?

Once upon a time there were jobs that could sustain you for your entire working life. Many of those jobs had valuable pension plans. If you worked there for 30 years, you could quit, take the pension and pay all your bills without having to work another day in your...

Transferring a Company Retirement Account

If you have ever changed jobs, there is a chance you left your retirement account behind. If you are changing jobs right now, you have some options about the company retirement account. You might want to get some good advice.

Are you changing jobs, retiring or is your company retirement plan shutting down? If the answer is yes to any of these, be sure the assets roll into an eligible retirement account instead of having them paid to you. That way you avoid any tax consequence. And the money continues to enjoy tax-deferred earnings.
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What does it take to retire at age 62?

You are eligible to receive reduced Social Security income benefits as early as age 62. What does it take to quit work and live off your investments at age 62? Most Americans start receiving Social Security checks at age 62, according to the Center for Retirement Research at Boston College. One problem for these folks is that they have accepted a 25 percent reduction in the size of their monthly check for the rest of their life.
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Planning for Retirement Income

There is no time like today to start planning for retirement. Times flies when you are having fun, so start your retirement planning now, because “someday” is closer than you think.

When it comes to retirement, it may seem like something that seems far away, or almost impossible to achieve with the amount of student loans, credit card debt, mortgages, car payments and monthly expenses. Read Full Article

Assisted Living Options

Nobody likes to think about it, but there will come a day when each of us needs some help as we get older. Having a plan to get that help and a plan to pay for it makes everything easier when that day comes.

Nearly all assisted living communities offer residents the choice of either having all-inclusive or fee-for-service pricing. All-inclusive means that a single monthly fee covers rent, meals and any additional services a resident chooses which may include housekeeping and/or transportation. There is also the choice of having fee-for-service means a resident pays only for the services that the resident uses. Usually, if a resident intends to use the full suite of services an assisted living residence offers, it tends to be less expensive to choose the all-inclusive option. If a resident will only require certain services or will use outside assistance for certain services, then the fee-for-service approach offers better cost savings.Read Full Article

Don’t Say NO to FREE Money

Many people work for a firm with an employer sponsored retirement plan. Often those plans offer matching money to increase your savings. Don’t miss out.

Planning for retirement can be a very intimidating thing, and oftentimes it may seem daunting with the amount of student loans, house payments and day-to-day expenses. Although making financial decisions and large lifestyle changes may seem difficult, one easy step to make towards retirement is taking advantage of retirement plans from employers that match. This is an opportunity of which you should always take advantage. Read Full Article

Easy Tax Savers Before Year End

Even in the busiest time of the year, you can still take a moment to cut your tax bill.

As the year winds down, many folks are thinking about the family and holiday celebrations and might not be thinking of tax day on April 15. Here are three ideas that can you can act on before the end of December that will save you taxes. It’s a good idea to talk with your fiduciary, fee-only financial planner about your tax strategy. She can likely give you a couple more great ideas to take to a meeting with your tax professional before year end.Read Full Article

Women Outlive Men?

If you’re worried about living longer than your partner, you might wonder whether women really do live longer than men. Although it’s not the same for every couple, on average, women outlive men by five years, which means that women should plan to live about the much longer than their partners. Although everyone will be different, especially depending on health concerns, history, and unforeseeable events, it’s best to plan now for what you can’t predict tomorrow. The good news is that simply by knowing that women tend to live longer than men, you can plan for that possibility now. At DunnCreek Advisors, we provide St. Paul, MN retirement investment services, helping individuals plan for retirement and extended care needs. With the right investment strategies and smart planning for your retirement costs, we can help you ensure that you are financially prepared for your life after retirement, regardless of whether you live longer than your partner.Read Full Article

Importance of Hiring a Fee-Only Financial Advisor

Are you properly planning for your retirement? The reality is that most people in America aren’t doing enough to prepare for life after retirement. The average 50 year old person has just over $40,000 saved for retirement. This is alarming considering that many experts believe that if you expect to draw $5,000 per month assuming a 6% annual return on your investments and 2% inflation, you’ll need to have bit more than 1 million dollars saved at the time of retirement. While you may or may not need 30 years worth of retirement savings, it’s best to plan for it. At Dunncreek Advisors, we’re fee-only financial advisors who are focused on looking out for your best interests at all times. In this blog, we’ll go into why it’s so important to work with a fee-only financial advisor.
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