We’ve Moved! 6121 Excelsior Blvd. St. Louis Park, MN 55416

Joe Lucey

Why Diversifying Your Income is Critical in Retirement

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Financial headlines over the past couple years have painted a troubling retirement picture at times: Medicare’s trust fund is running out, Social Security has tapped into reserves, and the country’s experienced pension shortfalls. Unfortunately, these concern aren’t simply abstract – and while they are tomorrow’s problem, they may directly affect the stability of your retirement income.

For those relying on Social Security, Medicare, pensions, or stock market investments to sustain retirement, these uncertainties pose do serious risks. If these institutions do really continue struggling, a best-case scenario could require adjustments to lifestyle and spending. Worst case, it could mean delaying your retirement or (worst worst case) even returning to work.

You know by now that a secure retirement isn’t built on a single source of income. Diversification is key. Understanding how to generate income from multiple sources can help ensure financial stability, even when the economy is unpredictable. With proper planning, it’s possible to navigate challenges with Social Security and Medicare, create alternative income streams, and establish a resilient financial foundation.

Even more so than savings or total assets, income often determines long-term security in retirement. Market fluctuations are inevitable – they happen –, but a well-structured income strategy provides stability.

Without one, many retirees risk running out of money when they need it most. The solution is an income plan, a diversified one. Relying too heavily on any single source of income creates vulnerability. Instead, a mix of reliable income streams can provide both security and flexibility.

The most solid retirement income plans include a mix of these potential income sources:

  • Dividend Stocks – Established companies often pay dividends to shareholders, providing consistent cash flow.
  • Investment-Grade Corporate Bonds – Bonds issued by financially strong companies can offer steady income while balancing risk.
  • Municipal Bonds – Some municipal bonds provide tax advantages, exempting interest payments from certain taxes.
  • Real Estate Investment Trusts (REITs) – These funds generate income by owning and managing properties, offering an alternative to direct real estate investment.
  • Reverse Mortgages – Home equity can be converted into income while retaining ownership of the property.
  • Rental Properties – Investing in residential or commercial real estate can create ongoing revenue, especially if you have strong local market knowledge.

There’s no single strategy or combination that’s foolproof for all. Many factors shape the right approach for your situation. Differences in age, assets, risk tolerance, and life expectancy are all things that can shift the dial. Your personalized plan can ensure financial security, regardless of economic shifts, and with Secured Retirement, we can get you there.

Contact us today to plan your income in retirement: 952-460-3260.

Our Team Is Growing – Meet Our Staff

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There are some fresh faces around Secured Retirement; we’re excited to introduce them to you! It takes a dedicated group of professionals to keep our operation running smoothly – some behind the scenes and others front and center. You’ll likely meet with one of these folks in person, hear their voice on the phone, receive an email from them, or maybe even just spot them in our Christmas card. However you’re in touch, each team member is vital to fulfilling our mission of making a significant impact on the families we serve so they can live comfortably, spend confidently, and pay taxes consciously. 

Without further ado, here are some of our latest recruits!

Austin Bruno – Marketing Outreach

Austin works in our marketing department connecting interested parties with the transformative financial planning we provide. From website inquiries to seminar follow-ups to radio show write-ins, Austin fosters relationships with clients before they even step through our doors. 

Originally from Fort Myers, FL, Austin developed his client service skills in the insurance industry after graduating from college. We are excited he’s found his way to our team! Welcome, Austin.

Edgar Villegas – Paraplanner

Edgar’s joined the Secured Retirement team as a paraplanner. In his role, he works closely with our advisors to prepare, construct, and follow up on the financial plans they’ve outlined. Having more than 5 years of experience as a wealth advisor in his home state of Oregon, Edgar is immensely qualified for this position. We’re lucky to have him!

In addition to his degree in finance, Edgar furthered his education by obtaining his Series 66 and license to sell life and health insurance. He is motivated to help our clients achieve their financial goals.

Elan Chargo – Project Coordinator

As Secured Retirement’s project coordinator, Elan is a key part of making sure our processes, technology, and company goals are all working together. With a Master’s in project management from Northeastern and experience in operations, Elan is assuredly the right person for the job! He is excited to help our team as individuals and as a group best work together so that we can continue to serve clients with the top-notch customer service we’re known for. 

Born and raised in Minnesota, Elan says there’s no place like home and is excited to be furthering his career right here in St. Louis Park. Welcome aboard, Elan!

Welcoming new team members is always a rewarding experience as we continue to strengthen our core capabilities. To learn more about Austin, Edgar, and Elan, as well as the rest of the Secured Retirement team, visit the Our Team page.

Back To Basics In The New Year: 5 Go-To Financial Goals for 2025

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Have you made any resolutions this year? Are they still going strong? Whether or not they are, there are a couple things you can do to feel refreshed in the new year. It’s a natural time for a little reset! 

Maybe last year didn’t quite pan out as you’d hoped in terms of your personal finances. Perhaps you overspent or didn’t contribute enough to your retirement savings. Sometimes, just getting back to basics can help jumpstart movement in the right direction. In that spirit, we’re reminding you of 5 simple ways to improve your financial standing in the new year. If you follow even one of them, your financial health will improve. 

Let’s get started!

1. Get Organized

The first step to financial power is organization. Start by tracking your spending to get a clear picture of where your money goes each month. You might be surprised to see how much you’re spending on both essential and discretionary expenses.

Once you understand your spending habits, create a budget to stay on top of your expenses. A good rule of thumb is to allocate 50% of your income to essential spending, 30% to discretionary spending, and 20% to savings. Use tools like spreadsheets, budgeting apps, or your bank’s mobile app to help you monitor and refine your budget.

Reassess your expenses for potential savings. Look for ways to cut back, such as dining out less frequently or canceling unused subscriptions. Additionally, consider making your 2025 IRA contribution early to maximize potential long-term growth.

2. Build An Emergency Fund

With an understanding of your monthly expenses, start building up those emergency savings to protect your financial plan from unexpected disruptions, such as job changes or medical emergencies. Ideally, this is a fund with enough resources to cover three to six months’ worth of living expenses.

Set a target amount and decide how much you can put away each month to reach your goal. Automating deposits into a dedicated savings account can make this process easier. To take advantage of higher interest rates, consider a money market savings account.

3. Develop a Debt-Reduction Strategy

Carrying high-interest debt can hinder your financial progress. Start by focusing on accounts with the highest interest rates, such as credit cards, and aim to pay more than the minimum balance each month.

Consolidating debt into a single loan with a lower interest rate is another effective strategy. Simplifying your debt can make it easier to manage and reduce stress. If you’re expecting extra income, like a raise or bonus, consider using it to pay down balances faster.

4. Enhance Your Investment Contributions

Investing is a key component of long-term financial health. Increasing your contributions and taking a more sophisticated approach can improve your results. Start with your employer-sponsored retirement plan and ensure you’re taking full advantage of their matching programs.

For more diversified growth, consider allocating additional funds to traditional or Roth IRAs, keeping in mind their respective tax benefits and income limits. If you have an HSA, treat it as a dual-purpose account—a safety net for medical expenses and a tax-advantaged investment vehicle. Many HSAs now offer investment options, allowing your contributions to grow beyond a standard savings account.

Meet with one of our advisors to ensure your asset allocation reflects your current financial goals and time horizon.

5. Save for Something Special

What are you looking forward to in 2025? Setting aside money for a short-term goal, such as a vacation or a new car, can keep you motivated and reinforce positive financial habits. First, set a target amount and then a timeline. Decide how much to set aside from each paycheck. Consider automating these contributions into a separate savings account. And be sure to revisit your budget to ensure this goal aligns with your overall financial priorities.

Kick Off 2025 With Good Habits

Making a plan for your money doesn’t have to be overwhelming, and even these simple financial prep goals set you ahead of the millions of Americans flying by the seat of their pants when it comes to finances. If you can do even one, of these things that you haven’t done before, your financial wellness will grow. By staying organized, planning for the unexpected, and committing to your priorities, let 2025 be your year. 

Small, consistent steps can lead to significant progress. Secured Retirement is here to help you make even bigger leaps in financial wellness too. Use your resources and start making smarter financial moves today! Give us a call: 952-460-3260.

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.