Your retirement may not be as far off as you think. It’ll get here; the question is, will you be financially prepared for it? Will you have the funds you need to live the life you want when you retire? A big part of financial planning for your retirement is asking the right questions. At Costello Financial Planning, we work hard to help our clients achieve their retirement goals by planning for these years well in advance. Even if you’re close to retirement now, it’s never too late to start planning. Reach out to either our Ann Arbor or our Chicago office to make your appointment with our team.

  1. Noise versus Substance

    Amid tariff wars and temporary truces, Brexit bewilderment, and the Fed potentially lowering the federal funds rate, we continue to stay the course and capture market returns. You probably already agree it makes sense to ignore noisy distractions in pursuit of your financial goals. But how do you kn…Read More

  2. Look Before You Leap: Choosing A Financial Advisor

    Most people need help managing their personal finances but not everyone chooses to work with a certified financial planner. Why? Often it is a lack of understanding the purpose and value of hiring a financial planner and what kind of planner is best for their requirements. Choosing a financial plan…Read More

  3. Why Are Large Banks Running Away From the Fiduciary Rule?

    In 2016, the U.S. Department of Labor announced new regulations implementing a fiduciary standard for retirement accounts and other qualified accounts such as IRAs. By law, a fiduciary acts in the client's best interest. An advisor or broker would have to reveal to the client how and why they are no…Read More

  4. Understanding Your Retirement Plan Options

    Question: What should I do with my 401(k) account when I leave a job or when I am preparing to retire? Answer: To give you a better understanding of your 401(k) options, I will review four strategies. 1. Do Nothing You can simply leave your retirement account as it is. You need to be aware, however,…Read More

  5. Accelerate Your Tax-Deferred Savings

    If you have already maxed out your retirement plan savings and want to contribute more than $50,000 tax-deferred, you are in luck. Recent IRS rulings have made a lesser-known retirement plan more appealing to business owners and such highly-paid professionals as attorneys, doctors, and dentists. The…Read More

  6. How to Make Financial Decisions with Your Partner

    Do you ever feel as though you’re not communicating well with your partner? Do you wonder whether they heard what you said? Whether they understood a point you made? Maybe even whether you’re speaking a different language? Most everyone feels this way at some time or other. I know I do. For exam…Read More

  7. 7 Financial Planning Steps To Review Before the End of the Year

    Markets by nature are uncertain, whereas certain planning steps are pretty well defined. The hard part is implementing these steps. With kids’ sports in full session and the holidays approaching, the end of the year creeps up on us. With that in mind, here are seven critical steps we will review b…Read More

  8. CFP In The News

    I had the privilege to be on Sirius XM Business Radio powered by Wharton Business School with professor Kent Smetters. We fielded calls from listeners. Kent is the Interim Faculty Director of the Penn Wharton Public Policy Initiative. Your Money Sirius XM Radio…Read More

  9. What I Am Reading

    Keeping Things Simple and Tuning out Folly (Farnam Street) To Get a Job in Your 50s, Maintain Friendships in Your 40s (New York Times) Beneath Chicago's Gloss (City Journal) The Middle-Class Squeeze (Wall Street Journal) Pete Sampras Letter to My Younger Self (The Players Tribune) Poor People Are Ge…Read More

  10. Amazing Tips to a Better Golf Game and Retirement from Tiger Woods’s Coach

    You probably know Hank Haney for his work on the golf course – namely, coaching Tiger Woods during arguably Woods’s most successful stretch as a professional. Haney’s golf expertise is featured in numerous magazines, several books, and even a personal television series. Were you also aware tha…Read More