Sep 2, 2025
The Most Important Risk
I want to tell a story about risk. I’m not talking about investment risk, rather something much more important.
I want to tell a story about risk. I’m not talking about investment risk, rather something much more important.
I once worked with a nurse who was diligently saving for retirement, aiming to hit a million dollars in her 403b before seeking financial advice. She did everything right – saving inside and outside her 403b. However, a year before her planned retirement, health issues emerged, and then COVID-19 hit in 2020. Due to her underlying health, she was forced to retire early. This wasn't her plan; she wanted to be on the front lines, helping patients. This unexpected turn of events left her feeling trapped and bothered, as she didn't get to retire on her own terms.
Her story isn't about failing to save enough; it's about the unpredictable nature of life. While saving is crucial, waiting to live until retirement can be incredibly risky. What if you're forced into early retirement due to health, or some other unforeseen circumstance? Having savings is vital to navigate such situations comfortably. Without it, you might be forced to rely on disability or Social Security, potentially leading to less than ideal living situations.
This isn't to say you should stop saving. On the contrary, having a financial cushion provides security. But it also emphasizes the need to consider living more fully now. Perhaps it means taking that vacation you've always dreamed of, exploring a career pivot, or finding a job with a better work-life balance, like a nurse moving to a 9-to-5 schedule with weekends off. Work is a privilege that can be taken away, and with it, the chance to enjoy all the fun things you envisioned for retirement.
As a financial advisor, I've seen countless scenarios unfold. I've witnessed 97-year-olds who are still incredibly active and sharp, enjoying the fruits of their serious investment planning. Conversely, I've seen individuals in their late 50s and early 60s have their health suddenly decline, leaving them unable to pursue their passions. We need to plan for a long life, but also recognize that tomorrow isn't promised.
Waiting to talk to an advisor, or waiting until a certain number to pursue your passions, is incredibly risky. Financial planning can help you clarify what truly matters to you – beyond just the necessities. It helps you understand what's possible and what trade-offs might be involved. For example, owning a lake house might require working five more years, which means less time with grandkids. Perhaps renting a lake house for a month each summer is a more realistic way to achieve quality time with loved ones.
Putting some of the math on paper makes your goals less abstract. It allows us to explore different scenarios – what if this happens, what if that happens? It's not just about maximizing dollars; it's about gaining perspective on what you want to do and the decisions needed to make it happen.
The bottom line: Waiting is risky. We don't know what tomorrow holds. But taking action now helps us better prepare for the unknown. This includes protecting your future income with insurance, saving and investing to secure your purchasing power over time, and having money outside of retirement accounts for unexpected career pivots or life changes. By finding the right balance between growth and stability in your investments, and by clearly defining what you want to achieve, you can plan more effectively.
Life's journey is unique for everyone, but there are universal truths: we live, we work, we invest, we have families, and eventually, we don't have some of those things anymore. We can make educated decisions and educated guesses about our future. Don't let 10 years pass you by, waiting for a hypothetical perfect moment. Start living and planning for your ideal life now.
The information in this blog is the opinion of Nathan Tomkiewicz and does not reflect the views of any other person or entity unless specified. The information provided is believed to be reliable and obtained from reliable sources, but no liability is accepted for inaccuracies. The information provided is for informational purposes and should not be construed as advice. Advisory services offered through Tomkiewicz Wealth Management, LLC, an investment adviser registered with the State of New York.
Read more
Making the Most of Your Pension: You have Choices to Make
So, you've got a pension waiting for you when you retire. You might think, "Great, I'm all set for retirement!" But is it really that simple? Yes and no.
On Track for Retirement at 65? A Family Doctor's Financial Check-Up
For many professionals, especially those in demanding fields like medicine, the idea of retirement can feel like a distant dream, or at best, an abstract concept. Years are spent focusing on career advancement, family, and daily responsibilities, often leaving personal financial planning on the back burner.
Experts Planning Family
I want to share a personal experience. This story isn’t unique to my family, though it is about my family.
Sep 2, 2025
The Most Important Risk
I want to tell a story about risk. I’m not talking about investment risk, rather something much more important.
I want to tell a story about risk. I’m not talking about investment risk, rather something much more important.
I once worked with a nurse who was diligently saving for retirement, aiming to hit a million dollars in her 403b before seeking financial advice. She did everything right – saving inside and outside her 403b. However, a year before her planned retirement, health issues emerged, and then COVID-19 hit in 2020. Due to her underlying health, she was forced to retire early. This wasn't her plan; she wanted to be on the front lines, helping patients. This unexpected turn of events left her feeling trapped and bothered, as she didn't get to retire on her own terms.
Her story isn't about failing to save enough; it's about the unpredictable nature of life. While saving is crucial, waiting to live until retirement can be incredibly risky. What if you're forced into early retirement due to health, or some other unforeseen circumstance? Having savings is vital to navigate such situations comfortably. Without it, you might be forced to rely on disability or Social Security, potentially leading to less than ideal living situations.
This isn't to say you should stop saving. On the contrary, having a financial cushion provides security. But it also emphasizes the need to consider living more fully now. Perhaps it means taking that vacation you've always dreamed of, exploring a career pivot, or finding a job with a better work-life balance, like a nurse moving to a 9-to-5 schedule with weekends off. Work is a privilege that can be taken away, and with it, the chance to enjoy all the fun things you envisioned for retirement.
As a financial advisor, I've seen countless scenarios unfold. I've witnessed 97-year-olds who are still incredibly active and sharp, enjoying the fruits of their serious investment planning. Conversely, I've seen individuals in their late 50s and early 60s have their health suddenly decline, leaving them unable to pursue their passions. We need to plan for a long life, but also recognize that tomorrow isn't promised.
Waiting to talk to an advisor, or waiting until a certain number to pursue your passions, is incredibly risky. Financial planning can help you clarify what truly matters to you – beyond just the necessities. It helps you understand what's possible and what trade-offs might be involved. For example, owning a lake house might require working five more years, which means less time with grandkids. Perhaps renting a lake house for a month each summer is a more realistic way to achieve quality time with loved ones.
Putting some of the math on paper makes your goals less abstract. It allows us to explore different scenarios – what if this happens, what if that happens? It's not just about maximizing dollars; it's about gaining perspective on what you want to do and the decisions needed to make it happen.
The bottom line: Waiting is risky. We don't know what tomorrow holds. But taking action now helps us better prepare for the unknown. This includes protecting your future income with insurance, saving and investing to secure your purchasing power over time, and having money outside of retirement accounts for unexpected career pivots or life changes. By finding the right balance between growth and stability in your investments, and by clearly defining what you want to achieve, you can plan more effectively.
Life's journey is unique for everyone, but there are universal truths: we live, we work, we invest, we have families, and eventually, we don't have some of those things anymore. We can make educated decisions and educated guesses about our future. Don't let 10 years pass you by, waiting for a hypothetical perfect moment. Start living and planning for your ideal life now.
The information in this blog is the opinion of Nathan Tomkiewicz and does not reflect the views of any other person or entity unless specified. The information provided is believed to be reliable and obtained from reliable sources, but no liability is accepted for inaccuracies. The information provided is for informational purposes and should not be construed as advice. Advisory services offered through Tomkiewicz Wealth Management, LLC, an investment adviser registered with the State of New York.
Read more
Making the Most of Your Pension: You have Choices to Make
So, you've got a pension waiting for you when you retire. You might think, "Great, I'm all set for retirement!" But is it really that simple? Yes and no.
On Track for Retirement at 65? A Family Doctor's Financial Check-Up
For many professionals, especially those in demanding fields like medicine, the idea of retirement can feel like a distant dream, or at best, an abstract concept. Years are spent focusing on career advancement, family, and daily responsibilities, often leaving personal financial planning on the back burner.
Experts Planning Family
I want to share a personal experience. This story isn’t unique to my family, though it is about my family.
Sep 2, 2025
The Most Important Risk
I want to tell a story about risk. I’m not talking about investment risk, rather something much more important.
I want to tell a story about risk. I’m not talking about investment risk, rather something much more important.
I once worked with a nurse who was diligently saving for retirement, aiming to hit a million dollars in her 403b before seeking financial advice. She did everything right – saving inside and outside her 403b. However, a year before her planned retirement, health issues emerged, and then COVID-19 hit in 2020. Due to her underlying health, she was forced to retire early. This wasn't her plan; she wanted to be on the front lines, helping patients. This unexpected turn of events left her feeling trapped and bothered, as she didn't get to retire on her own terms.
Her story isn't about failing to save enough; it's about the unpredictable nature of life. While saving is crucial, waiting to live until retirement can be incredibly risky. What if you're forced into early retirement due to health, or some other unforeseen circumstance? Having savings is vital to navigate such situations comfortably. Without it, you might be forced to rely on disability or Social Security, potentially leading to less than ideal living situations.
This isn't to say you should stop saving. On the contrary, having a financial cushion provides security. But it also emphasizes the need to consider living more fully now. Perhaps it means taking that vacation you've always dreamed of, exploring a career pivot, or finding a job with a better work-life balance, like a nurse moving to a 9-to-5 schedule with weekends off. Work is a privilege that can be taken away, and with it, the chance to enjoy all the fun things you envisioned for retirement.
As a financial advisor, I've seen countless scenarios unfold. I've witnessed 97-year-olds who are still incredibly active and sharp, enjoying the fruits of their serious investment planning. Conversely, I've seen individuals in their late 50s and early 60s have their health suddenly decline, leaving them unable to pursue their passions. We need to plan for a long life, but also recognize that tomorrow isn't promised.
Waiting to talk to an advisor, or waiting until a certain number to pursue your passions, is incredibly risky. Financial planning can help you clarify what truly matters to you – beyond just the necessities. It helps you understand what's possible and what trade-offs might be involved. For example, owning a lake house might require working five more years, which means less time with grandkids. Perhaps renting a lake house for a month each summer is a more realistic way to achieve quality time with loved ones.
Putting some of the math on paper makes your goals less abstract. It allows us to explore different scenarios – what if this happens, what if that happens? It's not just about maximizing dollars; it's about gaining perspective on what you want to do and the decisions needed to make it happen.
The bottom line: Waiting is risky. We don't know what tomorrow holds. But taking action now helps us better prepare for the unknown. This includes protecting your future income with insurance, saving and investing to secure your purchasing power over time, and having money outside of retirement accounts for unexpected career pivots or life changes. By finding the right balance between growth and stability in your investments, and by clearly defining what you want to achieve, you can plan more effectively.
Life's journey is unique for everyone, but there are universal truths: we live, we work, we invest, we have families, and eventually, we don't have some of those things anymore. We can make educated decisions and educated guesses about our future. Don't let 10 years pass you by, waiting for a hypothetical perfect moment. Start living and planning for your ideal life now.
The information in this blog is the opinion of Nathan Tomkiewicz and does not reflect the views of any other person or entity unless specified. The information provided is believed to be reliable and obtained from reliable sources, but no liability is accepted for inaccuracies. The information provided is for informational purposes and should not be construed as advice. Advisory services offered through Tomkiewicz Wealth Management, LLC, an investment adviser registered with the State of New York.
Read more
Making the Most of Your Pension: You have Choices to Make
So, you've got a pension waiting for you when you retire. You might think, "Great, I'm all set for retirement!" But is it really that simple? Yes and no.
On Track for Retirement at 65? A Family Doctor's Financial Check-Up
For many professionals, especially those in demanding fields like medicine, the idea of retirement can feel like a distant dream, or at best, an abstract concept. Years are spent focusing on career advancement, family, and daily responsibilities, often leaving personal financial planning on the back burner.
Experts Planning Family
I want to share a personal experience. This story isn’t unique to my family, though it is about my family.
Could Physicians in High-Tax States See Relief with a Revived SALT Deduction?
For physicians living in high-tax states like New York, Massachusetts, California, Illinois, and New Jersey, the $10,000 SALT (State and Local Tax) deduction cap introduced by the 2017 Tax Cuts and Jobs Act has limited the benefit of itemizing deductions for years.
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