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Happy Friday! It's Casey from Howard Bailey Financial! Every Friday, I'll send you my commentary on four financial-related articles that I think will be beneficial for you — plus a preview of my latest podcast episode.

Have questions? Send me a note!
A decade-by-decade guide to retirement planning
CNBC You may have a different financial focus depending on your age, and in my opinion, you should. Every life stage brings its own set of financial challenges, and many don’t know where they stand in that financial lifespan. 

While this article offers some good rules of thumb, the reality is that a 30-year-old may need to have the same financial focus as a 50-year-old, depending on their own unique financial circumstances. I’ve worked with 30-year olds planning to retire in their 40s. In that case, they will be facing many of the same challenges as a 60-year-old planning a traditional retirement. A 60-year-old may be planning similarly to a 40-year-old if they haven’t saved enough for retirement. 

Personal financial planning will always be personal, and a little guidance can go a long way at any age.

Is your financial plan customized to you? Contact us for a complimentary review.
New on the Podcast

Some experts believe the U.S. stock market is headed for a lost decade, which could have a huge impact on Millennials and generation Z. Listen in for some not-so-traditional advice on how to prepare.
What If Stocks Don't Always Go Up?
Advice for Millennials
Bloomberg If you haven’t looked at your stock portfolio for a year or more, you might have the assumption that stocks always go up. 

However, if you watch it daily, then you recognize stocks do not move in a linear fashion. While this year went from the quickest bear market in history to the quickest recovery in history, that hasn’t always been the case. 

Many investors have experienced months, years and decades of little to no returns on their stock portfolios. Through diversification and truly comprehensive financial planning, you can have a plan that succeeds, regardless of which direction the stock market takes over the next decade.
What Happens to Medicare If the Affordable Care Act Is Overturned?
Kiplinger Regardless of your position on politics of the Affordable Care Act, there has been little coverage related to repealing the ACA when it comes to Medicare. With that in mind, you might be wondering what the ramifications are. This particular article only focuses on the cons of repealing the ACA, so do keep in mind there are always pros and cons to every decision or action. The cons from a high level include:

📌 Doughnut hole returns
📌 Preventive care no longer being free
📌 Lost Medicare Advantage
📌 Acceleration of insolvency

Bonus Reading
Ready to seriously start thinking about retirement? My best-selling book, Job Optional*, is a good jump-off point — it will teach you how to secure your financial future so you begin to focus on what matters most to you now.
This is what your Social Security check will look like next year - and why
Market Watch One of the biggest frustrations you could face next year is the meager Social Security cost of living adjustment, and if you are like many of our clients, this frustration is nothing new. The question is, are we utilizing the appropriate COLA benchmark for Social Security, or is there another option that more closely reflects the average composition of expenses for a retiree, versus the average American? 

Although you will face different expenses in retirement than while working, the impact of inflation on the aggregate of those expenses is minimal. Furthermore, inflation truly has been lower over the last decade than what your parents experienced through the 70s and 80s. In turn, you will have a smaller cost of living adjustment when utilizing the same COLA benchmark for Social Security. 

Not to mention, we should be grateful there is a COLA at all. This provision has only been part of the program since 1972, and was signed into law in 1935. You can be disappointed, but it pays to count your blessings, too.
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Advisory services may be offered through Howard Bailey Securities, LLC, a Registered Investment Adviser. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.*Reached #5 on the Wall Street Journal eBook Bestseller List on 8/9/19. *Reached #1 on the Amazon Retirement Planning Bestseller List on 7/2/19.