2025 Archive

Are you planning for a 20-year retirement marathon or a 40-year ultramarathon? Longevity risk—the danger of outliving your money—is the foundational risk that makes retirement planning so challenging. For a healthy 65-year-old couple, there’s a high probability one partner will see their 90th birthday. In our latest article, we deconstruct this foundational challenge and outline four key strategies to build a resilient financial plan, including delaying Social Security, maintaining equity exposure, using "longevity insurance," and implementing flexible spending rules. Stop planning for the average and start building a plan durable enough to last a lifetime.

Have you planned for the 18 risks that could derail your retirement? Most people focus on saving, but true financial security comes from building a resilient income plan. This article kicks off a new series that systematically explores the key challenges every retiree faces, from inflation and healthcare costs to the single biggest variable: how long you'll live. Understand the framework for a durable retirement strategy and learn how to move from simply accumulating wealth to confidently navigating your future.

Are you leaving money on the table with your QBI deduction? For many small business owners, especially those in service fields, the complex phase-out rules can drastically shrink this valuable tax break. But what if making pre-tax contributions to your retirement or a favorite charity could actually increase your deduction? This article breaks down the counterintuitive math, showing with clear examples how strategic financial moves can turn a tax headache into thousands of dollars in savings. See the numbers for yourself and learn how to optimize your outcome.

Are you using a federal playbook for a state-level problem? For Washington residents, it's a costly mistake. Our state's estate tax system is fundamentally different: there's no "portability" for a spouse's $3M exemption, but also no gift tax. This creates traps for the unprepared but powerful opportunities for the informed. This article deconstructs the two systems, showing how to avoid the "portability trap" with trusts and leverage our state's unique tax-free gifting superpower. Don't let a simple misunderstanding lead to a massive, avoidable tax bill. Learn the rules of the game you're actually playing and protect your family's inheritance.

Are you being sold complex life insurance as a "leverage tool" or a "tax-free reserve"? Before you commit, let's cut through the marketing hype. This article directly addresses the alluring claims used to sell products like whole life insurance and explains why, for most people, a simpler, unbundled approach is more effective. We explore the separate roles of insurance (defense) and investments (offense), the hidden costs and risks of bundled products, and why a "buy term, invest the difference" strategy often leads to greater wealth and control. Read on to see if your path to financial freedom is being overcomplicated.

Staring at your Thrift Savings Plan statement and seeing just G, F, C, S, and I? It can feel like you're working with a limited toolkit. But what if that simplicity is the TSP's greatest strength? As a veteran and former federal employee, this article attempts to decode the 'alphabet soup.' Learn what each fund does and see an example of how you can combine these simple, low-cost building blocks to construct a powerful, world-class portfolio that matches YOUR financial strategy. It's time to take control of your retirement. 

For high-income savers who have maxed out their 401(k), the Mega Backdoor Roth offers a powerful way to save more for retirement. If your 401(k) plan allows for after-tax contributions and in-plan conversions, you can contribute tens of thousands of extra dollars into a Roth account. This strategy moves savings from a taxable account, where growth and dividends are taxed, into a Roth vehicle where all future growth is permanently tax-free. This guide explains how it works, who qualifies, and how it can dramatically accelerate your journey to financial independence by creating a massive, tax-free nest egg.

Couples have a financial superpower: playing as a team. This 'two-player mode' offers more than just shared bills; it provides resilience against job loss, flexibility in saving, and access to advanced strategies for investing, taxes, and estate planning. This article explores why a unified financial strategy is a game-changer, how to overcome common challenges like unequal incomes and the desire for autonomy, and why operating in 'single-player mode' can be so costly. Learn how to work together to build a stronger financial future.

Your financial plan is a roadmap, not a relic meant to gather dust. But what happens when the road itself changes? Internal life events like starting a family or changing careers can alter your destination, while external forces like sweeping tax legislation redraw the map entirely. An outdated plan can become a liability, exposing you to unnecessary risk. This article explores why regular updates are essential for your financial health, showing you how to adapt to these internal and external changes and turn your static document into a dynamic tool for navigating your future with confidence. 

Is your investment portfolio a source of confusion? This article deconstructs a real-world 26-fund portfolio to show how complexity can hide high fees and unnecessary risks. We explore why a simple, understandable strategy is often more effective, empowering you with the clarity and conviction needed to confidently pursue your financial goals. True value isn't in complexity you can't grasp, but in a strategy you can own.

Are you walking into the FIRE movement's biggest controversy? The "middle-class trap" says your 401(k) and home equity might be a golden cage, not a path to freedom. This deep dive analyzes the debate, the psychology behind it, and the planning framework you need to build a truly unbreakable path to early retirement.

Washington's estate tax laws are changing significantly in 2025 due to two new bills. A higher $3M exemption offers relief to many, but steeper tax rates up to 35% create new challenges for larger estates. This essential guide breaks down the updated tax brackets, the new spousal residence exclusion for filing, and powerful planning strategies like lifetime gifting and Roth conversions unique to WA state. Understand how these reforms impact your family's financial future and why you must review your estate plan now.

Did you know that converting your cherished second home into your main residence doesn't automatically grant you the full capital gains tax break when you sell? The Housing and Economic Recovery Act of 2008 introduced critical changes, meaning any time after 2008 it wasn't your primary home could reduce your exclusion. This often-overlooked rule about "non-qualified use" can lead to a significant and unexpected tax bill. Uncover the details to ensure you're financially prepared for your property sale.

Ever feel like financial plans are too complex and full of numbers that seem too good (or bad) to be true? This article explains why chasing pinpoint "GPS-like" accuracy in your financial future is a mirage. Instead, think of your plan as a reliable "compass," guiding you in the right general direction. We'll explore why precise forecasts based on tons of assumptions can be misleading, and how understanding this helps you get comfortable with the natural uncertainties of a long journey. Plus, discover your own "superpower" – the ability to adapt and adjust your course along the way, making the journey less about rigid predictions and more about smart navigation.

Washington State's capital gains tax has changed significantly in 2025, with new tiered rates up to 9.9% and a retroactive effective date of January 1, 2025. If you have investments in Washington, these updates could directly impact your tax liability and financial strategy. Learn what these changes mean for your financial future and how to navigate the new landscape.

Washington homeowners 61+, disabled, or qualifying veterans can significantly reduce property taxes through a state exemption – a key factor for effective financial planning. Learn about eligibility based on age/disability, ownership, residency, and county-specific income limits. Find out how applying for these potential savings can impact your budget and help achieve financial objectives.

Think only Washington State has strong hospital financial assistance? Think again! While federal law requires non-profit hospitals nationwide to offer financial aid, many states have their own, often more generous, 'charity care' laws, meaning help varies widely. This article explores programs in several states and stresses the importance of checking your local rules and contacting the hospital's financial assistance office directly.

Washington State's new rent stabilization law, HB 1217 (effective around May 2025), brings significant financial planning considerations for both renters and landlords. This article delves into how the new annual rent caps, initial tenancy protections, and other provisions directly impact household budgets, investment strategies, and long-term financial health. Discover the key financial implications of this landmark legislation and what steps you should consider to navigate these changes, whether you're managing rental income or planning your housing expenses. Understanding these financial shifts is crucial for all Washington residents affected by the new rental landscape.

Cole Ferrier, Financial Planner at EnoughFP LLC, has been recognized as one of the first financial professionals to earn the Tax Planning Certified Professional™ (TPCP™) designation from The American College of Financial Services. This certification signifies advanced knowledge in complex tax planning and optimizing tax advantages for clients. Possessing the TPCP™ designation demonstrates Cole Ferrier's commitment to providing comprehensive, tax-efficient financial planning.

High hospital costs? Washington's Charity Care law offers significant financial assistance. Find out if you qualify for free or reduced-cost care under the expanded 2022 rules (eligibility reaches up to 400% FPL at major hospitals!). Click to understand the law, typical application process and policies at two example medical systems.

Saving big in a 529 but fear penalties on leftovers? Using two accounts (high/low growth) and spending high-growth funds first for college might reduce taxes on non-qualified withdrawals from the remaining low-growth funds. It's a complex strategy for ambitious savers needing expert advice.

This post explains that Affordable Care Act (ACA) health insurance subsidies (Premium Tax Credits) decrease as your income goes up. This reduction effectively acts like an extra tax, increasing your overall marginal tax rate. Understanding this "phase-out" is crucial for financial and tax planning, especially since current rules softening the impact expire after 2025.