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5 Reasons Women Should Plan for Long-Term Care

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Discover the hidden cost of following the crowd in financial planning and why a customized strategy may be more effective.
Hanson Wealth Management

The Hidden Cost of Following the Crowd in Financial Planning

Financial advice is everywhere—from news outlets to social media influencers to friends and family. While many people believe that following widely accepted guidance is a safe approach, it’s important to consider that these strategies may not align with your unique financial situation. The hidden cost of following the crowd in financial planning can be significant, potentially leading to unnecessary taxes, overlooked risks, and missed opportunities for long-term financial stability. 

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Hanson Wealth Management May 5, 2025
Generic financial advice may not account for tax strategies, risk tolerance, or long-term care needs. Discover why a tailored plan matters.
Hanson Wealth Management

Why Generic Financial Advice Often Misses the Mark

Many people seeking financial guidance turn to general advice found online, from books, or through media personalities. While these broad strategies can offer a starting point, they often fail to address the complexities of individual financial situations. Generic advice may overlook key factors such as tax planning, income strategies, and market risk—all of which play a crucial role in shaping a sustainable retirement plan.  Understanding why generic financial advice often misses the mark can help investors make informed decisions that better align with their long-term financial objectives. 

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Hanson Wealth Management May 5, 2025
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Tax-Efficient Estate Planning Tips for High-Net-Worth Families

Strategies to Manage Your Wealth Estate planning can be complex, both from a legal and financial perspective, as well as a personal one. Thinking about the end of your life can be fraught with emotions, but it’s an important undertaking if you want to have confidence in knowing that your assets will be distributed according to your wishes. If you are a high-net-worth individual with significant assets, estate planning is a process that requires careful attention because you will want to employ tax-efficient estate planning strategies to leave your heirs with the lowest tax burden possible. Below, we’ll discuss

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Investing Fundamentals: Building Wealth for the Future

Investing Fundamentals: Building Wealth for the Future

Learn the Fundamentals to Develop a Comprehensive Approach Effective financial planning and management can play a role in wealth building. A solid wealth-building strategy can help you prepare for potential financial emergencies and work towards a comfortable retirement. Many people don’t understand that to truly build wealth, you need to do more than just save the money you make — you need to develop a long-term investment strategy. Here’s a look at the investing fundamentals you should know.

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Your retirement tax planning may be complicated by this demographic glitch caused by the Baby Boomer generation.

The Demographic Glitch That May Cause Your Taxes to Double

The Baby Boomer generation is well-known for being the product of the post-World War II baby boom, and for rejecting and redefining traditional values in many ways. However, did you know that the Baby Boomer generation also represents a “demographic glitch” in a way that is important to all of us? Allow me to explain. A Four-Letter Word and the Future of Our Economy On January 11, 2011, a CPA named David M. Walker appeared on national radio and made a grim prognostication: Based on the current fiscal path, future tax rates will have to double or our country

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Decoding IRA and 401(k) Rollovers: A Potential Approach to Retirement Planning

Decoding IRA and 401(k) Rollovers: A Potential Approach to Retirement Planning

How to Maximize Retirement Accounts from Former Employers The journey to retirement spans a lifetime, marked by the pursuit of a fulfilling post-work life. Many Americans switch employers during their careers, resulting in the retention of 401(k) accounts from previous jobs. However, these dormant accounts – sometimes referred to as “orphan 401ks” remain stagnant, unable to receive contributions or management from former employers. One solution is to explore 401(k) and IRA rollovers. In essence, these maneuvers allow you to transfer the balance from inactive retirement accounts to active ones, providing control and the ability to continue contributions. This article […]

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The Three Percent Rule is a common retirement withdrawal strategy, but that doesn’t mean it’s the best one.

What You Should Know About the Three Percent Rule: Part One

In a previous article, I discussed the retirement income challenges created by longevity risk. Today, I want to talk about a common strategy for overcoming it: the Three Percent Rule. I’ll share what came before it, how it came to be popularized, and whether it’s truly the best strategy to utilize so that you can devise a retirement income withdrawal strategy that will help you enjoy a more financially secure retirement. The Historical Approach to Retirement Withdrawals For many decades, Americans managed longevity risk with a loosey-goosey approach to retirement income planning that threw caution to the wind. In […]

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Why Diversifying Your Retirement Income Streams Matters

Why Diversifying Your Retirement Income Streams Matters

The Power of Diversification in Managing Your Retirement Retirement is one of the most significant milestones in life. It represents the culmination of years of hard work and savings, but it also marks the beginning of a new financial chapter. Fostering a comfortable and stable retirement requires careful planning, and a key component of that planning is creating diversified retirement income streams. Diversification can help to mitigate risks and potentially enhance financial stability during your golden years. Read on for more about why you need to develop a diversification strategy today.

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Simplifying Social Security

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Simplifying Social Security and Optimizing Retirement Benefits

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