Why Planning is Important

The Mackey Advisors Way

If you have spent any significant time with the Mackey Advisors team, you have probably realized that we sometimes sound like a broken record when it comes to the concept of “planning”.  That is because almost every new client we work with, we continue to reinforce this huge importance. Often that importance is not just… Read More

10 Years and Counting: Points to Consider as You Approach Retirement

If you’re a decade or so away from retirement, you’ve probably spent at least some time thinking about this major life change. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with friends and family? Should you consider relocating? Will you continue to work… Read More

Planning Your Financial Future

The Mackey Advisors Way

Let’s take a few minutes to discuss personal financial planning – or as we call it Prosperity Planning™.  When we take a step back for a minute it is quite astonishing to think of everything we plan for.  We make plans for dinner, lists for the grocery, and schedules for kitchen duty at the office. … Read More

Student Loan Debt Limiting Careers, Marriage, Home Buying and Retirement, Survey Reveals

Terri Williams | GoodCall.com

reposted from GoodCall.com by: Terri Williams June 8, 2016   Many students pursue a college degree to obtain the necessary skills, education, and training needed to enjoy many of life’s pleasures, such as pursuing a dream job, getting engaged and married, and purchasing a home or new car. However, student loan debt has created a… Read More

Marriage and Money

6 Tips for Same-Sex Couples

U.S. Supreme Court decisions have given same-sex married couples the same rights and privileges as opposite-sex married couples. If you’re married or on your way to the altar, you’ll want to sort through the financial implications and potential opportunities you have. 1. Evaluate your employee benefits Once you’re married, you may want to coordinate workplace… Read More

IRA Contributions

So instead of wasting your time trying to convince you how great they are, I would rather discuss the mechanics of how you take advantage of them. Devise a savings strategy and start the automatic saving. IRAs come in two flavors: Traditional and Roth.  Traditional IRAs are tax-deferred, i.e., money grows year-after-year without Uncle Sam… Read More

When & How to Ask for Financial Help

When is the best time to plant a tree?  Twenty years ago. When is the next best time?  Today. The same thinking applies to getting financial help. When is the best time to get financial advice?  Twenty years ago.  When is the next best time?  Today. Seriously, the answer is always earlier is better.  The… Read More

IRA and Retirement Plan Limits for 2016

IRA contribution limits The maximum amount you can contribute to a traditional IRA or Roth IRA in 2016 is $5,500 (or 100% of your earned income, if less), unchanged from 2015. The maximum catch-up contribution for those age 50 or older remains at $1,000. (You can contribute to both a traditional and Roth IRA in… Read More

Five Questions and Answers about New Social Security Claiming Rules

When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules… Read More

College Planning – 7 Steps to Keep Your Money & Your Sanity

Late Stage College Planning Series – 1 of 7

One of the most financially savvy gifts a parent or guardian can give their child is to send them to college. Even with student debt, the difference in a college graduate’s lifetime earnings vs that of someone with only a high school diploma is substantial. This wage difference spread over 40+ years in the work… Read More