Frequently Asked Questions

Our investment minimum is $750,000. This amount may be waived in certain situations, including for client family relationships and for ambitious younger investors. Please contact us to discuss your situation. Our initial conversation is always FREE.

We serve as fiduciaries in advisory relationships. An advisory relationship is required for new clients, although we serve legacy brokerage and insurance clients.

John R. Berry and Beth H. Watson are the advisors in our office, and both are CERTIFIED FINANCIAL PLANNER® practitioners. CERTIFIED FINANCIAL PLANNER® certification is the standard for financial planning.

We do not open new accounts to facilitate stock picking or frequent trading activities.

Common guidelines suggest you should have 5–7 times your annual salary saved by age 50. If you make $150,000 as a couple or an individual, that's $750,000 to $1 million. If you're in your 50s, you should at least have rising savings and falling debt. More details here.

$1 million is a lot of money. In retirement, it can take you far if you have a reasonable lifestyle. Whether $1 million is enough depends on your retirement age, spending habits, and investment style, plus other factors.

Roth conversions shift pre-tax dollars to after-tax dollars. You pay taxes now to enjoy tax-free withdrawals later. You should do Roth conversions if you expect to be in a lower tax bracket in the future. Another reason to do a Roth conversion is to have choices in the future about where to pull money for your living expenses. Clients often do Roth conversions after retirement but before their required minimum distribution age.

Yes—eventually, you need to do both! We can coach you on strategies to pay down debt and save for retirement. Keep in mind interest rates, employer matches, cash flow, and your long-term goals. You want each dollar working as efficiently as possible.

We follow the CFP® Board's financial planning process: understanding your situation, clarifying goals, analyzing options, and recommending a strategy tailored to you. We can also implement and monitor your plan, updating it as your life and circumstances change.

You want to keep more of what you earn! To potentially reduce taxes in peak earning years, you can use health savings accounts, flexible spending accounts, and pre-tax retirement accounts like 401(k), Traditional IRAs, and SEP IRAs. Those accounts have higher limits than clients often realize. You should also use a true tax professional, not just a tax-return preparer. Your tax professional should spend time with you going through your return and discussing improvement strategies. At Corner Post Financial Planning, we often work with clients' CPAs to implement tax strategies.

When bad things happen, a lot on how much prep work you have done. Layoffs can be very difficult, both financially and emotionally. You can help ease the blow of a layoff by having an emergency fund, keeping your skills and professional contacts current, and living below your means. Concerning health problems, injury, and death, we always review our clients' insurance. A lot of families—even better-off families—resist disability and health insurance because of the cost. This is especially true for self-employed clients who don't have group benefits. It's important to understand the consequences of rejecting these coverages. The same is true for life insurance. Breadwinners and many homemakers/stay-at-home parents should have life insurance appropriate to their level of income and number of years they will have loved ones depending on them. We also encourage clients to stay active and eat a healthy diet.

Face reality early: If you do not build healthcare and care-giving costs into your retirement plan now, those expenses will make the decisions for you later. Healthcare in retirement is expensive, and Medicare doesn't cover nearly everything. Premiums, deductibles, prescriptions, dental work, vision care, and out-of-pocket expenses can easily consume thousands of dollars per year. Long-term care—whether in-home assistance, assisted living, or nursing care—is one of the biggest financial risks retirees face, and many families are shocked by how quickly costs can drain savings. For those who don't have long-term care insurance, or who do and question its value, we like to model a long-term care incident into your plan.

No is the usual answer. Market volatility often creates fear, but the fear you feel is usually driven by short-term cash needs, lack of diversification, or uncertainty about how investments support your goals. Rather than reacting to market swings, we focus on strengthening your plan so it's aligned with your time horizon, cash needs, and long-term objectives.

Short answer: Yes, we can help you with your inheritance. An inheritance comes with a lot of emotions and responsibilities, but it's also an opportunity. Sadly, many inheritances are squandered quickly. When you receive an inheritance, it's important to consider your goals in a methodical way. We work with you to identify strategies that can help amplify your values and goals when you've been blessed with a financial inheritance.

Several studies have shown that the stock market doesn't really care who the president is.