Birchwood's Financial and Investment Blog

By Bridget Handke, CFP, CAP

Something we’ve learned in our Financial Advisory firm is that a client’s retirement success in part depends on how financially savvy their kids are. We’ve seen too often how a client’s financial plan is stressed if they continually help out their kids money-wise. Planning to retire? It can be...

By Bridget Handke, CFP, CAP

I have two millennial daughters and even though they have grown up with a financial planner for a mom, I realize they don’t know as much about money as I’d like them to.  I still have more I could teach them! If your child is a millennial (born 1981-96), you may worry that they don’t know...

By Bridget Handke, CFP, CAP

That’s the question we often get from clients when they come in to discuss their retirement. They’ve decided to retire but they don’t know what their next steps are. They want to know “how it will work”. Below are the steps we take as financial advisors to help a client who is about to retire.

By Bridget Handke, CFP, CAP

The allure of tax free money is strong, especially when saving for your retirement. One way to accumulate tax free funds is to take advantage of a Roth Individual Retirement Account (IRA) account. You can fund a Roth IRA a number of ways, one by contributing to a Roth IRA directly or by...

By Bridget Handke, CFP, CAP

They say it's better to give than to receive. When it comes to gifting money, you likely want to make sure your assets go to the people and causes you love, not Uncle Sam. Whether you're estate planning or just looking to spread some goodwill, here are some strategies for creating a tax-savvy...

By Bridget Handke, CFP, CAP

The death of a spouse can be one of the most challenging things a person can endure. The emotional impact, changes to your family structure, and loss of your closest companion can all take a toll. Financial issues shouldn't add to the emotional hardship. Yet, too often widows and widowers may...

By Bridget Handke, CFP, CAP

You’ve been saving for years and you can see retirement down the road. What is your timeline? How does all this fit together? Below is a timeline on how to start the retirement process and help explain how the puzzle pieces work together. Beyond the numbers, we find a successful retirement takes...

By Bridget Handke, CFP, CAP

I’ve never engaged in Millennial bashing because I can’t think of anything bash-worthy. I love Millennials! I have two daughters, both in their twenties. They don’t do things the way I did at their age but that doesn’t matter because I appreciate their different point of views and passions. For...

By Bridget Handke, CFP, CAP

I was one of those moms who insisted her kids do chores. Not just 5 minutes worth but a number of regular daily chores. We did this to develop of a sense of belonging and to learn responsibility. Another reason was I didn’t want them to see Mom and Dad always working while they loafed around...

By Bridget Handke, CFP, CAP

We see it time and again. Some of our brightest, most affluent clients struggle with paying bills. It’s not that they don’t have enough money. It’s that they don’t have a workable system and sometimes miss a payment or have to dip into savings for a big bill. At Birchwood Financial Partners,...