If you know exactly where your birth certificate is, you’re probably already pretty organized. If you don’t, you’re in good company. Many of us would have to search through drawers, boxes, or even call a family member to track it down. Asking "Where’s your birth certificate?" can be a surprisingly good test of how organized you are with life’s most important paperwork. From birth certificates and passports to wills, property deeds, and insurance policies, these...
The Department of the Treasury and the Internal Revenue Service (IRS) have issued final regulations on catch-up contributions under the SECURE 2.0 Act of 2022. These rules apply to a wide range of retirement savings plans, including 401(k), 403(b), governmental 457(b), SARSEP, SIMPLE IRA, and SIMPLE 401(k) plans. What Are Catch-Up Contributions? Catch-up contributions are additional amounts that individuals age 50 or older may contribute to their retirement accounts, above the standard annual contribution limit...
As football season kicks off, millions of fans are finalizing their fantasy drafts. Drafting a strong fantasy team takes foresight, balance, and an eye for value. Interestingly, those same principles can also apply when you’re thinking about investing. At Mirus Financial Partners, we believe it’s helpful to look at your portfolio the same way you’d look at your fantasy roster: with the right mix of “players” that complement one another. This analogy isn’t about predicting...
Life circumstances sometimes create a need for funds sooner than expected. If most of your savings are in retirement accounts, you may wonder whether you can access them before age 59½ without facing penalties. The answer depends on the type of account, the source of the funds, and the circumstances surrounding the withdrawal. This article provides an overview of how early withdrawals from IRAs work, along with some common exceptions to the early withdrawal penalty...
Some individuals retire earlier than expected due to layoffs, health concerns, or job changes. Others may choose to leave the workforce early after meeting personal financial goals. In either case, the question often arises: Is it possible to access retirement funds before age 59½ without the IRS’s 10% early withdrawal penalty? In certain circumstances, yes. While the 10% penalty generally applies to early distributions from retirement accounts, the IRS provides specific exceptions. Even if a...
At Mirus Financial Partners, we stay on top of policy changes that may affect your financial future. One of the most important of these is the Annual Trustees Report, which gives Congress and the public a detailed look at the financial health of Social Security and Medicare. Released on June 18, 2025, this year's Trustees Reports confirm that both programs continue to face long-term funding challenges. The reports are prepared by the Boards of Trustees...
Uncertainty in the market can create both challenges and opportunities, especially for those managing retirement assets. Recent market volatility, influenced in part by tariff-related developments, has reminded investors of the importance of strategic planning. If you have an IRA, now could be a good time to reassess your options. At Mirus Financial Partners, we encourage our clients to consider two key strategies during periods of market instability: evaluating the potential benefits of a Roth IRA...
For business owners and private shareholders, a buy-sell agreement may be a critical part of long-term planning. It could help facilitate a smooth transfer of ownership in the event of a partner’s death, while also providing potential financial protection for the deceased’s family. One method that might be used to fund a buy-sell agreement is life insurance. When structured appropriately, life insurance could offer a source of liquidity that may allow surviving owners or the...
Retirement planning is important for everyone—but when it comes to financial preparedness, women often face a steeper hill to climb. The path to a secure retirement can look different for women due to several factors, including differences in income, time in the workforce, and lifespan. That’s why it’s especially important for women to create retirement plans designed to meet their unique needs. At Mirus Financial Partners, we believe in creating personalized strategies that reflect each...
At Mirus Financial Partners, we keep a close eye on changes that affect your financial future—and a new rule from the Social Security Administration (SSA) may impact how you manage your benefits. Starting April 14, 2025, some individuals will need to visit a Social Security field office in person to verify their identity before they can claim benefits or change direct deposit information. While the SSA says the move is meant to strengthen security and...
Whether you're switching jobs or facing an unexpected layoff this spring, you’re not alone. With workforce shifts continuing across both the private and public sectors, many professionals—especially in education, public service, and federal roles—are left wondering: What should I do with my retirement savings now? How you handle your 401(k), 403(b), 457(b), or TSP account after a job change can significantly impact your financial future. Here’s what you need to know in 2025. First Things...
We’ve all been there. The news is grim and your stomach drops faster than the stock ticker. Whether it’s your retirement account, college savings, or nest egg for that dream vacation home, market volatility can feel deeply personal. It’s natural to feel unsettled. But while market dips may feel like new and terrifying territory, history tells a different story—this isn’t unusual, and it’s not the end of the world. In fact, long-term investors who can...
