Hinman Financial Planning, Inc,

09/08/2026

I don’t believe retirees should follow the same withdrawal order year after year.

While you’re working, the goal is largely accumulation: save, invest, and give your money time to grow.

Retirement changes the equation.

Now, your portfolio also needs to provide the money you’re spending. And where that money comes from can matter.

If the market is down significantly, for example, we may decide to use available cash rather than selling investments that have already fallen in value.

This can matter even more early in retirement, when withdrawals during a market downturn leave less money invested to participate in a recovery. That’s sequence-of-returns risk.

It’s also one reason your asset allocation may look different in retirement.

Having cash and more conservative investments available can give you places to draw from without automatically selling stocks during a downturn.

But that doesn’t mean I start retirement with a rigid list that says:

Cash first
Then taxable
Then IRA
Then Roth

The market may recover. Tax considerations may make an IRA withdrawal more attractive. Or your taxable account may be the better source.

I’d rather make sure you have multiple places to get the money you need, then decide which one makes the most sense based on the market, your taxes, and your overall financial picture at the time.

If you’re approaching retirement, have you figured out where your monthly spending money will come from once the paycheck stops?

08/31/2026

If your will/trust and your 401(k) list different beneficiaries, which one wins out?

Many people don’t realize this, but IRAs, 401(k)s, and life insurance don’t pass through your will or trust.

They pass directly to whoever is named on the beneficiary form.

Even if that form is outdated or wrong, it trumps the estate planning documents.

And if the beneficiaries are missing entirely or left blank, the account usually falls back to a default set by the custodian.

(Usually to the estate, which can mean probate.)

Incorrect beneficiary designations can be a major source of stress during one of life's most vulnerable, emotional moments.

The good news is that it’s very easy to fix. This month, check which beneficiaries are listed on:

➜ Retirement accounts (401(k)s, IRAs)
➜ Life insurance policies
➜ Any account with a TOD/POD designation (transfer-on-death/payable-on-death)
➜ Contingent beneficiaries

If something needs updating, or if you’re not sure where to look, I’m happy to help you find everything you need.

08/25/2026

Sometimes the smarter move is saving less in retirement accounts and more outside of them.

Let's say you're 54, with roughly $3 million saved across your retirement accounts.

By any measure, that's an incredible amount of savings.

But most of that $3 million comes with strings attached.

You're still more than five years from 59 ½, and if you only have a couple hundred thousand dollars in cash, the rest is mostly out of reach until you get closer to that age, with only limited exceptions.

Now let's say you're also starting to think seriously about leaving your job early. Maybe in a year or two, not five.

That $3 million won't help you get there.

A personal, taxable investment account works differently. There's no age requirement, waiting period, or rules about when you can use it.

You put money in, and it's yours to use whenever you need it: to retire early, help a child, cover something unexpected, or simply have options when life doesn't go according to plan.

That flexibility is worth something, even if it means paying capital gains tax along the way.

Thinking about when you'll need your money is a major part of your financial plan, not just how much you're saving.

08/18/2026

Ever checked your brokerage account and thought, "wait, is that right?"

Maybe you felt excited... or a little anxious with the itch to do something.

This comes up often: a couple has wanted to do a major home renovation for years but never pulled the trigger. Then they realize their portfolio has grown by over a million dollars in the last year, and wonder if they can finally get the renovation done.

The answer is often yes. They can pay the taxes on those gains and still be right where their plan called for.

Markets don't stay this generous forever. If there's something real you've been wanting, and your accounts are giving you 6-figure wiggle room, this might be your moment.

More on how to think it through:

Markets are up and your portfolio has grown. Here’s how to decide when it makes sense to use some of those gains toward the things you’ve planned for.

08/10/2026

“Why did our Medicare premiums suddenly go up?”

That was the question Brian and Lynn asked after receiving their new Medicare premium notices.

The frustrating part was that nothing about their income had changed recently.

But two years earlier, it had.

Brian and Lynn had owned an investment for several years that had grown significantly in value. They decided it was the right time to sell, knowing the sale would result in about $200,000 in capital gains.

They planned for the tax bill and thought they knew what the sale would cost them.

Then, two years later, that gain came back into the picture.

Their Medicare premiums had increased by about $250 per person, per month.

For the two of them, that meant an extra $500 every month. That’s an additional $6,000 a year they hadn’t planned on.

Why?

Medicare generally uses your income from two years earlier to determine what you’ll pay for Parts B and D.

If your income crosses certain thresholds, you may pay an Income-Related Monthly Adjustment Amount, better known as IRMAA, on top of your regular Medicare premiums.

A sizable capital gain, Roth conversion, business sale, or other income event may make perfect sense. But before moving forward, it’s worth looking at more than the immediate tax bill.

Could it affect your Medicare premiums two years from now?

That’s a question we want to answer before the notice arrives in the mail.

If you’re considering a financial move that could significantly increase your income this year, let’s look at the full picture before you make it.

Brian and Lynn are fictional characters, but the story is based on scenarios I often observe.

08/03/2026

A $1,000,000 inheritance sounds like a blessing.

It can also become a surprisingly expensive tax bill if you wait too long to make a plan.

Let's say you inherit a $1 million traditional IRA while you're still earning $300,000 a year.

Under today's rules, many non-spouse beneficiaries must empty that IRA within 10 years.

You don't necessarily have to take the same amount each year, but the account generally has to be emptied by the end of those 10 years.

Now imagine you've waited until the end and there's still $600,000 left in the account.

Taking that much taxable income in a single year on top of your salary could mean paying far more in taxes than if you'd planned those distributions over several years.

It’s just as important to focus on the years leading up to the deadline as it is the deadline itself.

If you've inherited an IRA, or expect to someday, let's run the numbers before you start taking distributions. A little planning now could save a significant amount in taxes later.

07/20/2026

You don't have to choose between working full-time and stopping altogether.

More people are easing into retirement instead, cutting back hours and freeing up time without walking away from a paycheck completely.

But before you reduce your hours, it's worth asking an important question:

What would happen to your financial plan if your income dropped by 40%, and you lost benefits like group health insurance along with it?

The answer affects how much you'll need to withdraw from your investments, how long your savings may last, your tax situation, and even when it makes sense to claim Social Security.

For some people, the numbers still work. For others, it means working a little longer, adjusting spending, or rethinking the withdrawal strategy.

Either way, the key is knowing the numbers before you make the move.

If you're considering semi-retirement, here are a few questions worth answering first:

How much income will you still earn?

How much will you need to withdraw from your portfolio each year?

What benefits, like health insurance, will you lose, and what will replacing them cost?

Will your spending increase, decrease, or stay the same?

How will the change affect your taxes?

Does your long-term retirement plan still succeed under this new scenario?

Semi-retirement doesn't have to be all-or-nothing. With the right planning, it can be a gradual transition, one that gives you more freedom without sacrificing long-term security.

Have you ever calculated what a 40% reduction in income, plus lost benefits, would mean for your plan?

07/13/2026

AI is popping up in corners of financial planning, just as it is everywhere else.

I've been testing out AI tools in my own practice, and my experience has been a mix of pleasant surprises and healthy skepticism.

Some tools have helped me spend less time on meeting notes and research, giving me more time for conversations with clients.

Others have needed so much double-checking that they've added more work instead of reducing it.

AI is becoming a helpful assistant, but careful thinking, real experience, and personal conversations are still what help people feel confident about their financial decisions.

Technology will keep changing, but good financial planning still begins with understanding the person sitting across the table.

Have you started using AI in your everyday life? I’d love to hear about one task that’s been genuinely helpful, or maybe one that left you scratching your head.

Read my latest blog to see where I believe AI adds value, where I think it still falls short, and why the human side of financial planning remains central.

Financial planning has always evolved alongside technology. When I started my career, I had file cabinets full of paper folders and a calculator I trusted more than anything else. Today, nearly everything is digital.

07/07/2026

Six months ago, she was planning her next vacation.

Today, she's helping care for her aging mom.

I was talking with someone recently who shared how quickly life had changed.

At the beginning of the year, she was excited about traveling more and finally spending money on experiences she'd been putting off.

Then her mom's health changed, and her family needed her in new ways.

The plans she'd made in January no longer fit the reality she was living in June.

We make the best decisions we can with the information we have. But life has a way of changing the picture.

As we head into the second half of the year, it's worth asking:

- Am I spending my time, energy, and money on what matters most right now?

- Have my priorities changed since January?

- Does my financial plan reflect the life I'm living today — not the one I expected six months ago?

The best financial plans adapt as real life unfolds.

Has anything changed in your life this year that's worth revisiting?

06/30/2026

We all like to think about what we'll do in retirement.

Where we'll travel. Time with the grandkids.

The healthcare costs? Those usually don't make the vision board, but they should make the plan.

A 65-year-old couple retiring today with Medicare is estimated to need about $230,000 for out-of-pocket healthcare costs during retirement, and that doesn't even include long-term care.

On top of that, about 70% of people over age 65 will need some type of long-term care at some point.

Those numbers remind us that healthcare deserves a place in retirement planning.

Here are a few questions to consider:

Do you have a rough idea of what healthcare might cost you in retirement?

Have you thought about how you'd pay for long-term care if you ever needed it?

Is your current retirement plan accounting for those costs?

These are conversations I have with clients.

Most people expect them to be stressful, but they usually leave feeling relieved.

Once you put real numbers to it and make a plan, it may become much more manageable.

If you've been meaning to think through this but haven't gotten around to it, this is your nudge.