Hohenshell Financial

Work-life balance is key to a happy and fulfilling life. If you’re able to, take advantage of today to spend more time doing what you love. Whether it’s with family, friends, or just taking time for yourself, it’s the small moments that truly matter.

Happy National Sunscreen Day! Just like sunscreen protects your skin from harmful rays, a solid financial plan protects your future from unexpected challenges. Taking small steps today can help you enjoy the brighter days ahead with confidence and peace of mind. At Hohenshell Financial, we’re here to help you plan for a secure and sunny future.

Have you heard about Required Minimum Distributions (RMDs)?

An RMD is the minimum amount you must withdraw each year from certain retirement accounts, like traditional IRAs or employer-sponsored retirement plans, starting at a specific age. When do they begin? Typically, you need to start taking RMDs by April 1 of the year following the year you reach age 73 (as of current IRS rules). After the first RMD, withdrawals must happen by December 31 each year. Why plan early?

✅ Early planning can help you strategically manage your tax burden.
✅ Knowing how RMDs could affect your taxes and retirement income allows you to maximize savings.
✅ Understanding RMD rules early can provide more options for managing your retirement accounts effectively.

Thinking about your retirement strategy? A financial professional can help you plan ahead, potentially enhancing your savings and retirement experience. #417

Ever wonder what a Target-Date Fund is and if it's right for you?

A Target-Date Fund simplifies retirement investing by adjusting your portfolio's asset allocation based on your anticipated retirement year (the "target date"). You select a fund labeled with the year closest to when you plan to retire—for example, 2045 if you plan to retire around that time. This fund then follows a predetermined "glide path," shifting gradually from riskier, growth-oriented investments like stocks to more conservative assets like bonds as the target date approaches.
👍 Pros:
• Simple, hands-off investing
• Built-in diversification
• Professional management
• Potentially beneficial tax implications (within tax-advantaged accounts)
⚠️ Cons:
• Limited personalization
• Fees may vary
• Returns aren't guaranteed
• May become overly conservative too early, potentially limiting growth
• May not be aggressive enough in early investment stages
🔍 Who It's Right For:
• Investors seeking simplicity and convenience
• Individuals unsure of how to manage investments on their own
• Those who prefer professional, automatic adjustments over time
🚫 Who It's Wrong For:
• Investors desiring highly customized investment strategies
• Individuals comfortable actively managing their own investments
• Those seeking potentially higher growth through aggressive, self-directed strategies

Considering Target-Date Funds? Let's discuss if they could fit your retirement strategy.

Happy World Password Day! Protecting your digital assets is just as important as securing your financial future. Today, take a moment to strengthen your passwords and review your online security practices.