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Happy Tax Planning! Check these 5 things off your list before December 31
The end of November and December always seems to fly by in a whirlwind of activity. Between holiday shopping, festive gatherings, and end-of-year reflections, taxes might be the last thing on your mind. But for those of us in the tax and tax planning professions, this season isn’t just about decking the halls—it’s about taking…
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Managing Cash in Retirement: A Path to Confidence and Clarity
As you transition into retirement, having the right amount of cash on hand is crucial to ensuring that your journey is one of clarity and confidence. Your financial needs may shift, but maintaining liquidity in the right places will help you navigate the challenges ahead. In retirement, cash typically serves three key purposes, all of…
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Understanding the Inflation Reduction Act: Key Medicare Changes for 2025 and Whay They Mean for You
The Inflation Reduction Act (IRA) introduces significant changes to Medicare, impacting coverage options, costs, and out-of-pocket expenses for beneficiaries. At Korhorn Financial Group, we want to ensure you understand these changes and take proactive steps to review your Medicare coverage for the 2025 plan year. Here’s what you need to know: Key Changes to Medicare…
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The 2 Goals of Tax Planning
The end of summer is fast approaching. And while no one wants to say goodbye to long days and relaxing getaways, the time has arrived to get back to school, back to work, and, at least in our case, back to some serious tax planning. For many taxpayers, however, the whole idea of tax planning…
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Is $2 Million Enough to Retire at Age 60?
Is $2 Million Enough to Retire? The 5 Factors That Actually Determine Retirement Success Many people ask the same question: Is $2 million enough to retire? The answer depends on more than just your savings. Your retirement age, spending, income sources, savings, and investment risk all play a major role in determining whether your plan…
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Understanding the Role of Fiduciaries in Financial Planning
In the realm of wealth management and financial planning, the term “fiduciary” holds significant weight. It’s not just a buzzword; it’s a fundamental principle that shapes how professionals operate and the level of trust they establish with their clients. At its core, a fiduciary is an individual or entity legally obligated to act in the…
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The Power of Delaying Retirement: Why Working 1 More Year Can Make a Big Difference
Are you on the cusp of retirement but feeling uncertain about whether you’re financially ready to take that leap? Perhaps you’re contemplating whether delaying retirement by just one more year could make a significant impact on your financial future. If so, you’re not alone. Many individuals find themselves in this situation, weighing the pros and…
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Should You Keep Your Mortgage for Tax Benefits?
Have you ever wondered whether keeping a mortgage just for the tax benefits is a smart financial move? It’s a question that often floats around in personal finance discussions, but the answer might surprise you. Short answer: No, you shouldn’t cling to a mortgage solely for the tax savings it might offer. Why? Well, let’s…
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