Are You Prepared for Unexpected Retirement Costs?

Financial Surprises Can Have Serious Consequences

By Kathy Longo, CFP®, CAP®, CDFA
Monday, 15 June 2020

Are You Prepared for Unexpected Retirement Costs?

Thoughtful retirement planning should always include contingencies for unexpected life events that impact your nest egg. However, even if you’ve planned ahead to weather financial surprises, the following events tend to catch retirees off-guard and cause increased levels of financial disruption.

Death of a Spouse

This health event is difficult for many reasons and will often involve extraordinary expenses that are much greater than what you may have planned for. The death of a spouse can lead to a significant decrease in net worth, especially for women, over a short period of time.

Serious Health Conditions

Most older Americans expect an inevitable decline in health that comes with aging, but there are two health conditions that are most dangerous to a retiree’s finances. According to this study by the National Bureau of Economic Research, strokes and lung disease are of a particular concern financially. One in five older Americans will experience one of these conditions, and Medicare will only provide so much assistance. A stroke reduces the average wealth of a household by $25,000 and lung disease has an even greater average impact of $29,000.

Q1 2020 Quarterly Newsletter

By Kathy Longo, CFP®, CAP®, CDFA

Wednesday, 15 April 2020

Q1 2020 Quarterly Newsletter

News From Flourish

APRIL 2020

This first quarter of 2020 was strange, to say the least. By mid- February the stock market was at record highs and most were expecting the first quarter to end in record gains, not losses. Within two weeks the world quite literally turned upside down. While the news of the coronavirus had been present on the news for months, it largely seemed a threat outside our borders until—it wasn’t. While it didn’t happen overnight, the Coronavirus changed the lives of each and every person in a very short period of time.

How To Retire When You're a CEO

Tips for Transitioning Out of a High-Powered Leadership Role and Into the Next Phase
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 29 January 2020

How To Retire When You're a CEO

Retirement can be a difficult transition for anyone, but it can pose an even greater challenge for those leaving high-powered leadership roles. Since their positions are so incredibly demanding, CEOs often don’t have the time or focus to plan their next move. Also, since the average age of retirement for a CEO is just 62, that leaves quite a few years to plan for. CEOs also frequently define themselves by their work, which can make retirement feel like a loss rather than a milestone to celebrate.

Q4 2019 Quarterly Newsletter

By Kathy Longo, CFP®, CAP®, CDFA

Saturday, 18 January 2020

News from Flourish

Happy New Year! I hope this email finds you rested and recuperated from the holiday season and ready for a year filled with growth, forward momentum, and achieving your goals.

 Screen Shot 2020 01 18 at 102314 AM

Over the holidays, my family and I enjoyed some R and R in Palm Springs, CA. It was so nice to step away from Minnesota for a few days and enjoy each other’s company. Jay, Maddy, Fernando, Grace and I enjoyed the weather, great restaurants, and opportunities to connect about all the events from the past year. The experience was refreshing and made me think of all the holiday memories we’ve made at home over the year and the benefits of occasionally having a change of scenery to deepen connections.

Ask Your Spouse These Nine Questions Before You Retire

Planning Together Ensures You’ll Understand One Another’s Expectations
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 15 January 2020

Ask Your Spouse These Nine Questions Before You Retire

Nearing retirement is an exciting time. It’s a culmination of your many years of hard work and smart financial decision-making, and many people find it to be an incredibly meaningful and rewarding phase of life. You likely have a host of retirement dreams – everything from where you’ll live to how you’ll spend your days and with whom – but do you know if your spouse has different expectations?

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