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Joe Lucey

Making 2025 Count

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Greetings to you from the lull between Christmas and New Year’s, the purgatory of the holiday season where, if you’re lucky, you can enjoy a bit of time to recharge and reflect before ringing in the new year.

Let me ask you, are you someone who sets resolutions? Resolutions are a time-honored concept, but personally, I find it difficult to gain much traction with them unless I think of them as goals. And SMART goals are where the real magic happens.

In my mind, here’s how they differ: Resolutions are things you muscle through with sheer willpower for a couple of weeks each January. Goals come with a plan and intention. SMART goals involve planning done with the help of specifics, measurability, achievability, relevance, and time-sensitivity. They’re the kind of goals that transform wishful thinking into real progress.

If you’re trying to better yourself in 2025, I admire you. Change is achievable when you define what success looks like. Change is more likely when you align your goals with your own personal values.

You’re most motivated to achieve goals that naturally jive with what’s most important to you. Maybe that’s why my weight loss goals never make it very far – my values align more with eating good than defining my waistline.

Jokes aside, this time of year is perfect for reflecting on your beliefs and how they shape your priorities.

At our house, we’ve been having a lot of those conversations lately as we weigh college decisions for my son. What’s best for him? What fits with our family’s goals and values? And, of course, what works with our finances?

Planning for the future – for college, retirement, or any personal milestone – requires balancing dreams, realities, and priorities. My two cents? Take some time to define your goals, make them actionable, and ensure they align with the way you see the world.

Looking into 2025, the same approach applies to financial planning. At Secured Retirement, we work to create a roadmap that reflects your values whatever they may be – protecting your family, giving back to your community, or embracing life’s adventures in retirement.

In the space of this season, take some time for consideration. And may your 2025 be filled with wealth, health, and happiness. We’re rooting for you!

Cup of Joe

CUP OF JOE

From Joe Lucey, Founder of Secured Retirement

There’s something about sitting down with a steaming cup of coffee that always kicks my day into high gear. And it’s not just because of the caffeine it sends coursing through my veins.

Throughout my career, some of my biggest revelations have come to me in conversation with my mentor over a cup of joe. Good conversation and personal connection can pick you up in a special way. It’s that feeling that I’m hoping to bring to you with my series, your Cup of Joe.

Secured Retirement Announces Jacob McCue As Investment Strategist/Advisor

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Secured Retirement is pleased to welcome Jacob McCue to our portfolio management team.

Jake is both a Chartered Financial Analyst (CFA®) as well as a Certified Financial Planner™ (CFP®). The combined financial force of these designations creates an excellent foundation for our advisory and investment processes, bolstering Secured Retirement’s investment capabilities and model performance across all areas of the market.

Having previously collaborated with Secured Retirement leadership, Jake was a natural choice to join the firm this past October. Since then, Jake has demonstrated exceptional dedication and expertise in investment and financial strategy. With over a decade of experience, he brings a wealth of knowledge derived from previous roles, including trust investment advisor at a large national bank and investment manager for independent retirement investment advisors.

As part of Secured Retirement’s portfolio management team, Jake will leverage his background to construct portfolios tailored to each client’s unique needs. This continued development of our internal portfolio management expertise highlights a level of fiduciary-based planning rarely seen in firms our size. We’re excited to see him thrive as he steps into this role as investment strategist!

Read more on Jake and the rest of the stand-out Secured Retirement staff on our team page.

 

Jacob McCue

Investment Strategist/Advisor
Secured Retirement

Retirement Doesn’t Have to Be All or Nothing

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When many people think about retirement, they picture a hard stop: 40 hours one week and poof!, the schedule’s wide open the next. But retirement doesn’t have to be all or nothing. In fact, many people benefit from intentionally planning their transition from the workforce. There are many ways to explore a flexible, phased approach that eases you into your retirement lifestyle. Below, we offer our best advice as you consider your transition to retirement.

The Benefits of a Gradual Retirement

Traditionally, retirement was a one-time thing: coworkers and friends gathered for a farewell party, chipped in for a gift, and sent their colleague off to enjoy a life of golf, gardening, and time with grandkids. Some retirees would sell their homes and relocate to warmer weather. However, this traditional approach doesn’t suit everyone. Many people find joy and purpose in working; it’s difficult to slam the door shut on a decades-long identity. And with longer lifespans and, for some, the financial uncertainties that can lead to, a growing trend has emerged: phasing into retirement or even taking intermittent sabbaticals to blend work and leisure can make for a more flexible and fulfilling transition. Here’s how a gradual approach to retirement can benefit you financially, emotionally, and practically. 

  1. Financial Stability
    Working part-time as you move towards full retirement can provide an additional income stream and reduce the need to draw heavily from your savings or retirement accounts during this transition. This approach can also maximize your long-term monthly payouts and bridge the gap until you’re ready to claim Social Security benefits.

  2. Emotional Lift
    The sudden shift from full-time work to complete retirement can feel jarring. Your whole life shifts! Gradually scaling back allows you to adjust at your own pace, transitioning more intentionally to a new purpose while still maintaining connection with your colleagues and your work-self.

  3. Better Health Outcomes
    Studies suggest that staying engaged through passion-driven work or volunteering in retirement contribute to better mental and physical health. Structured activities that get you out and interacting socially often work to reduce feelings of isolation and increase overall life satisfaction. What do you think you might want to do more of in your retirement?

How to Ease into Retirement

Easing into retirement can offer the best of both worlds – a chance to scale back on work while exploring the freedom of your next chapter. Maybe you’re seeking financial stability, greater fulfillment, or just a smoother transition; a gradual approach can help you strike the right balance. Here are practical steps to help you move confidently into this exciting new phase of life.

  • Explore Flexible Work Options
    Talk with your employer about the possibility of phased retirement options, such as reduced hours or project-based roles. If your current workplace can’t offer you the flexibility you’re looking for, consider if consulting, freelancing, or taking a part-time role might be right for you.

  • Plan for Healthcare Needs
    If you’re transitioning to part-time work, understand how this may affect your healthcare coverage. Research Medicare or other options to ensure you’re fully covered before making changes to your work schedule.

  • Balance Income with Tax Efficiency
    Earning an income during retirement may impact your taxes, particularly if you’re withdrawing from retirement accounts or claiming Social Security. You’ll want to plan out a tax strategy with a financial expert before you embark on your retirement transition.

  • Stay Active in Your Community
    If part-time work isn’t appealing, maybe volunteering would be right for you! Many retirees find fulfillment in mentoring, tutoring, or supporting causes they care about, while still enjoying the freedom of a flexible schedule.

A Customized Retirement Plan

There’s no one-size-fits-all approach to retirement. Some people thrive with full-time leisure, while others prefer to stay partially in the workforce. The key is creating a plan that’s right for your financial needs, lifestyle goals, and emotional well-being. And there are options beyond just retiring cold turkey.

Retirement is a significant transition, but it doesn’t have to be stressful. With a little planning, it can smooth and rewarding. At Secured Retirement, we specialize in helping individuals navigate this phase with confidence. Whether you’re considering a gradual retirement or are ready to jump right in, our team is here to help you make informed decisions for your future. Give us a call: 952-460-3290.

Giving Thanks This Season

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Thanksgiving is almost here, and like many of you, I’m preparing for a long weekend full of family, feasting, and football. 

Around the Lucey family table, there are a few essentials that make our Thanksgiving meal OUR Thanksgiving meal: green bean casserole made with cream of chicken soup (hold the mushrooms, PLEASE!), creamed pearl onions (if you’ve not had them, you’re missing out), and, of course, the two varieties of cranberry sauce (canned and homemade). 

We’ll have both an oven-roasted as well as deep-fried turkey with plenty to share and even more for the next day. The leftovers just might be my favorite part of all!

The freshly prepared food is certainly a highlight, but what truly makes this time of year meaningful is the people I get to share it all with.

I’m grateful to be surrounded by great people in my life – by my family who supports me and by my team members who are all committed to helping our clients plan for a secure financial future. 

As we get ready for another year’s Thanksgiving – tidying our homes, setting our places, preparing our food, and welcoming our loved ones – I hope you’re able to find moments for reflection and gratitude. 

Take stock of your blessings, reminisce about the past, and dream for the future. Hold tight to the present while it’s here.

Thank you for being a part of our Secured Retirement family and trusting us to help you secure a future for you and yours.

Happy Thanksgiving!

Cup of Joe

CUP OF JOE

From Joe Lucey, Founder of Secured Retirement

There’s something about sitting down with a steaming cup of coffee that always kicks my day into high gear. And it’s not just because of the caffeine it sends coursing through my veins.

Throughout my career, some of my biggest revelations have come to me in conversation with my mentor over a cup of joe. Good conversation and personal connection can pick you up in a special way. It’s that feeling that I’m hoping to bring to you with my series, your Cup of Joe.

The Election and The Economy

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The Election’s Market Impact

With polls indicating a very tight presidential race, investor skepticism loomed as last week’s election approached, driven largely by concerns over potential delays in confirming a clear winner. Fortunately, results came sooner than expected and with a decisive outcome. In response, markets were propelled higher. The surge in stock prices has been attributable to Donald Trump’s win, as it is believed his administration will promote pro-growth domestic policies and relatively easier regulation. However, the market rally may just as well have been a sigh of relief over a clear outcome. 

While stock performance statistics vary under different presidential administrations, much of the market’s happenings are beyond the control of any one President or Congress. Any political party taking credit for market performance tends to be oversimplified.

How The Trump Presidency May Affect Your Portfolio

So, what might a Trump presidency mean for your portfolio and financial planning? It may be too early to make precise predictions, but there are a few assumptions we can make based on his campaign.

Government spending, national debt, and tax policy come to mind as significant factors. While Trump’s administration may be perceived as pro-business, his first term revealed a tendency toward increased government spending, driving up the national debt. This has played out recently with a rise in government bond yields. U.S. Treasuries no longer carry the perceived safety they used to thanks to rapidly rising debt levels, pushing bond yields higher as investors seek compensation for added risk. Given these dynamics, in our view, bonds may not provide the most favorable returns over the next several years nor the same amount of safety or diversification in investment portfolios as they have over the past several decades. We remain very optimistic in our stock market outlook. The current bull run may slow, but we do not foresee any reason for it stopping, absent an unforeseen, large-scale event.  

Great attention should also be paid to tax policy. The tax cuts initiated during Trump’s first term in office as part of the Tax Cuts and Jobs Act of 2017 are set to expire at the end of next year. With Congress likely to be in step with the President, there’s potential for these cuts to be extended or made permanent. However, this does not mean that taxes will remain lower indefinitely. Under its current trajectory, the debt will eventually become crippling, and at some point, the bill will come due. The most probable way for the federal government to bring in more revenue is to raise taxes since spending cuts seem unlikely.

Looking Ahead

With the election now in our rear-view mirror, we turn our attention to the year ahead. The stock market has delivered strong returns throughout 2024, and we fully anticipate that stocks will maintain positive momentum, continuing to rally through year-end. The Federal Reserve’s expected interest rate cuts next year would further ease monetary policy, providing a stock market tailwind. However, if inflation rebounds—a strong possibility if government spending continues or new tariffs are imposed—the Fed may be forced to reverse course.

While the market has soared in the short time since the election, it is important to stay focused on the long term. Stock market performance tends to have a very weak correlation with which political party is in office. Instead, focus on how specific actions taken by elected leaders may impact your retirement planning and broader financial strategy. As always, to look specifically at your portfolio, and for example, how taxes and bond yields may impact it, give us a call: 952-460-3290.

Nathan Zeller Secured Retirement

Nate Zeller

Chief Investment Strategist
Secured Retirement

Don’t Let These Tax Traps Ruin Your Retirement

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Retirement planning requires a lot of different elements. Investments, tax planning, income planning, and more. Many people dedicate their focus towards managing their investment returns, and while that’s important other factors that can have an even bigger impact on their nest egg get overlooked. One huge factor is taxes.

Taxes could be your largest expense in retirement. Developing strategies around them is key to best positioning your retirement future. To mitigate the negative impact that taxes might have on your retirement savings, be aware of these common tax traps before you start planning that retirement party.

Retirement Tax Trap #1: Claiming Social Security Could Increase Your Tax Bill

Claiming your Social Security benefits could be one of the most important financial decisions of your life. How and when you claim Social Security could impact far more than just the amount of your benefits check. It could also trigger paying taxes on as much as 85% of your benefits.

Don’t make your decision solely based on maximizing your benefits. Instead, consider how it could impact your taxes, Medicare premiums and spousal benefits.

Retirement Tax Trap #2: Withdrawals from Your IRA and 401(k) Are Taxable

Contributing money to your IRA and 401K is easy. But withdrawing this money in retirement is complicated and confusing.

Remember, you must pay taxes when you withdraw this money in retirement. And Required Minimum Distributions will further complicate matters. When you turn 73, “RMD’s” force you to start withdrawing money from these accounts, whether you want to or not. And this could result in paying more and more taxes every year.

The solution? Start planning for RMDs in your 60s to minimize their impact on your tax bill.

Retirement Tax Trap #3: Failing to Diversify for Taxes

Most people understand investment diversification, but few think about diversifying their tax exposure. Many individuals have too much of their retirement savings in tax-deferred accounts, which can lead to big tax headaches down the road.

To minimize your tax burden, aim to have a balance of accounts in three categories: taxed always, taxed later and taxed rarely. If you have too many eggs in one basket, it could spell serious financial trouble in retirement.

Retirement Tax Trap #4: Missing the ROTH IRA or 401(k) Conversion Window

A Traditional IRA or 401K allow tax-free contributions. But you must pay taxes when you withdraw this money in retirement unless you convert some, or all your traditional IRA or 401K to a ROTH.

A ROTH IRA or 401K doesn’t allow tax-free contributions (that’s the catch), but you pay zero taxes when you withdraw money in retirement. ROTH accounts are not subject to RMDs either. That means you get tax-free growth, which could add up to tens of thousands of dollars in retirement (possibly more).

A financial advisor can help you determine whether a ROTH conversion is right for you.

Take Control of Your Retirement Taxes

The good news? You have more control over how much you pay in taxes during retirement than at any other point in your life. But lowering your tax bill doesn’t happen automatically—it requires proactive planning. By addressing these tax traps early, you can set yourself up for a more tax-efficient, stress-free retirement. To set yourself up, give us a call: 952-460-3290.

Danielle Christensen

Paraplanner

Danielle is dedicated to serving clients to achieve their retirement goals. As a Paraplanner, Danielle helps the advisors with the administrative side of preparing and documenting meetings. She is a graduate of the College of St. Benedict, with a degree in Business Administration and began working with Secured Retirement in May of 2023.

Danielle is a lifelong Minnesotan and currently resides in Farmington with her boyfriend and their senior rescue pittie/American Bulldog mix, Tukka.  In her free time, Danielle enjoys attending concerts and traveling. She is also an avid fan of the Minnesota Wild and loves to be at as many games as possible during the season!