I’m Michael Lonier, the owner of Lonier Financial Advisory LLC. Given the complexity of the financial decisions we face today, it is more important than ever to find a trusted financial planner and advisory. You should choose your financial planner and advisor carefully based on fit and a sense of trust.
The sell-side of the financial services industry has large advertising and marketing budgets and tremendous influence. We all pay for that with outsized transaction costs and hidden fees that eat away at our returns.
[blockquote type=”blockquote_line” align=”left”]My goal is to help you attain the confidence, peace of mind, and resources to reach your goals and live your life more fully[/blockquote]
As your trusted financial planner and advisor, I am focused on serving you with clarity and impartial advice. I provide full lifecycle financial planning and prudent low-cost investment management.
My services organize and simplify your financial life, and maximize your savings and investments. My goal is to help you attain the confidence, peace of mind, and resources to reach your goals and live your life more fully.
These are some of the reasons to consider my services:
I’m independent. I am fully aligned with your best interests and work exclusively for your benefit.. I am not owned by or affiliated with any bank, brokerage, financial or insurance company, or any other third-party.
I’m fee-only based. I don’t sell or receive any commissions or fees from any financial products. I work only for you. You know exactly what my fees are and what they are for because you see and approve them.
I’m a trusted fiduciary. As a Registered Investment Advisor, my company and I uphold a higher duty of care and prudence than is required from banks, brokerage financial advisors, and insurance agents. I always put your best interests ahead of my own.
I’m Internet efficient. I offer prudent, low-cost investment management. I use a full suite of Internet tools to make my services as efficient, low-cost, and focused on your needs as I can. These include online planning and portfolio management tools and secure low-cost online custodial brokerages for your investments.
I’m focused on you. I offer flexible, low-cost services, by the project, by the hour, or by management fee, as you prefer.
Bottom line: I help you make better choices.
How Do You Know When You Have Enough?
Knowing you ‘have enough’ is a key milestone. Then you can put your financial worries to the side and focus on the important things your resources can enable. The things that make life worth living like a new venture, an old pastime, family, friends, travel, staying fit, or mastering a new skill or job. And not spending all your time worrying about your finances.
[blockquote type=”blockquote_line” align=”left”] Focus on the important things your resources can enable, not on worrying about the resources themselves[/blockquote]
You should never take on more risk than you need. At some point, you stand to lose much more than you could gain. The risky gain you are stretching to reach might mean far less to improving your lifestyle than you think—far less than a loss could harm it.
How much is enough? There is no formula or single answer to that question. Your answer will differ at various times in your life as your needs and wants change. Perhaps the greatest value of financial planning is that it puts ‘having enough’ in perspective with the other considerations that affect your quality of life.
My full lifecycle financial planning process will help you find a comfort range where risk and return have the right balance for you and lifestyle you are seeking. Contact me, via email, the contact form, or 201-741-9528 about how to know when you have enough!
40? 70? —It’s never too early or too late to plan!
Early or mid-career, pre-retirement, retired, we face complex financial challenges at every age and milestone.
If you’re in your 40’s, handling big-expense items like housing and college are foremost. In your 50’s, it’s time for pre-retirement planning. In your 60’s, the transition and choices retirement entails are key. In your 70’s and beyond, assets, income and longevity are the focus.
How to pay for college? How much to save in your company plan? How should you invest in this market with retirement just a few years down the road? What if you’re no longer able to work? Small adjustments now in how you spend, save, borrow, and invest can make a big difference to your living standard in the future.
Think of me as your personal financial trainer. Your financial fitness and workout will vary as you get older. The sooner we start, the better, the more fit you’ll be later on. But it’s never too late to get started!
Don’t Undervalue Your Social Security Benefit!
Controversial as it is today, don’t discount Social Security as a key part of your retirement plan.
Social Security makes up a third or more of most retiree’s income. It’s an annuity indexed to inflation that you can’t outlive. You worked to earn it. Take some time to carefully plan your choice of benefits.
[blockquote type=”blockquote_line” align=”left”]Social Security is your retirement plan foundation[/blockquote]
Early filing? Seems simple enough, the sooner the better, right? Delaying your claim to 70 can increase your benefit by up to 80%. You could use your savings, IRA or 401k in the interim, and increase your SS payout later on. Delay also helps with taxes by pushing tax effects later when they’ll likely have a smaller effect on your benefit. If you’re in poor health, delay may not be a good option, or if you have no savings and must take your benefit as early as you can, then so be it. But if you have other retirement savings, you might use them and delay your claim to get the best return on investment (8% a year from age 66-70!) in your entire retirement income portfolio!
Then there’s file-and-suspend. The oldest spouse with the largest benefit files at full retirement age, but suspends benefits until later, accruing a higher benefit. The other spouse, at full retirement age, can collect half the regular benefit of the first spouse while also waiting to collect his or her own full benefit, which also continues to grow. Both then take the maximum benefit available at 70.
Your IRA/401k might be more of a tax trap than you imagined. Sizable required minimum withdrawals after 70-1/2 can combine with the part of your Social Security that is pushed over the exclusion limit for a high marginal tax rate. Seems like you can never outlive tax planning!
Social security is your retirement plan foundation. It’s a significant part of your personal balance sheet. Well planned choices can make a big difference in your retirement income stream.