Latest articles by Joe F. Schmitz Jr., CFP®, ChFC®, CKA®
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How a Roth Conversion Can Spare You From Medicare’s IRMAA and Taxes
If you've been a good saver and face large required minimum distributions (RMDs), then you need to plan for how to head off or limit higher Medicare premiums.
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If You're the Millionaire Next Door, You May Be a Terrible Spender
Good job on all that great saving. Now you need to start spending some of that hard-earned retirement savings on the things you love.
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This Trust Can Protect Your Assets From Long-Term Care Costs
A Medicaid asset protection trust can help ensure your protected assets go to your beneficiaries rather than your long-term care, but it has to be set up properly.
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Are You a DIY Retirement Planner? Four Things You Need to Know
While saving is a huge part of retirement planning, tax efficiency and estate planning can be just as important, especially once you actually retire.
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Should You Take Your Pension as a Lump Sum?
The answer depends on multiple factors, such as what your alternative investment options would be, whether you want to leave money to a beneficiary and more.
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Should You Take the Survivor Option on Your Pension?
In some cases, you could buy life insurance instead and get a better deal in protecting your spouse. There are some things to keep in mind, though.
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If You Have a Pension, Smart Tax Planning Should Start Now
Adding pension income to Social Security benefits and income from required minimum distributions could see you facing a tax torpedo and higher Medicare costs.
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What’s the Difference Between a CPA and a Tax Planner?
CPAs do the important number crunching for tax preparation and filing, but tax planners look at the big picture and come up with tax-saving strategies.
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Five Estate Planning Things You Need to Do Now
For a solid estate plan, you should put powers of attorney in place, designate beneficiaries, tackle tax planning and more.
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When Should You Start Social Security Benefits? It Depends
The answers to these five questions can help you determine when it’s a good time to file for Social Security. The timing is different for everyone.
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Estate Planning: Who Needs a Trust and Who Doesn’t?
Knowing the differences between a revocable trust and an irrevocable trust can help you decide if you need one and, if you do, which kind.
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Do You Have at Least $1 Million in Tax-Deferred Investments?
If the answer is yes, then this article is for you. Find out how you can keep more of that $1 million for yourself and away from Uncle Sam.
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What You Can Do Now to Avoid Paying Higher Taxes in 2026
Tax rates are set to increase once the Tax Cuts and Jobs Act sunsets at the end of 2025, but steps you take now could put you in a better financial position.
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Don’t Let the 'Widow's Penalty' Blindside You: How to Prepare
If one spouse passes away, the surviving spouse could pay nearly double the amount of income taxes. Are you planning for this?
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Are You Taking Too Much Risk in Retirement?
Use a two-bucket plan, with a protection bucket and a growth bucket, to protect your nest egg from market volatility so it lasts as long as you need it to.
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Is Your Financial Adviser Doing a Good Job for You?
If your meetings focus only on investment returns, that’s a problem. These 10 questions can help you determine if your financial adviser is being lazy.
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What CRNAs Need to Know About Money Post-Graduation
Like other high-income professionals, certified registered nurse anesthetists (CRNAs) face unique financial challenges when it comes to cash management, risk and accumulation.
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High-Income Millennials, This Advice Is for You
If you are in your 20s or 30s and making $150,000-plus a year, your financial planning needs are more advanced, and need more attention, than the average Millennial.
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Will You Pay Higher Taxes in Retirement?
Your Social Security income and RMDs will most likely combine to deliver a tax torpedo, but there are ways to reduce your income in retirement to pay less tax.
