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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
July/August 2026
Mid-Year Retirement Check Up
As summer arrives, it's a good time to review your retirement savings strategy and make adjustments if needed. Here's a look at some important areas to evaluate:
Your Goals
Consider whether your retirement date, health, and expected spending in retirement have changed. You might be willing to accept a lower standard of living to retire sooner. Alternatively, you may plan to travel more in retirement, which could require additional savings or a later retirement. If your goals are flexible, your strategy should adapt accordingly.Your Contributions
How much are you putting away toward retirement? Is the amount sufficient to help you reach your financial goals in retirement? If you are coming up short, contribute a little extra to your retirement plan. In 2026, you may contribute up to $24,500 annually, plus an extra $8,000 if you are at least age 50. And if you contribute to a 401(k) plan, your contributions are tax-deferred.Your Investment Mix
Many near-retirees take a more conservative approach with their investments as they get closer to their target date. You might want to consult a financial professional to ensure your investment strategy aligns with your goals, risk tolerance, and timeline.Your Debt
One effective way to boost your disposable retirement income is to eliminate as much debt as possible before your big day, starting with credit card balances. If you're accustomed to buying a new vehicle every few years, consider keeping it longer after paying it off. The money you save can be used to pay down other debts.Your Retirement Income
How much you save for retirement and how much you can spend are two different things. That's because taxes can significantly impact your disposable income. Downsizing your home or even renting can reduce the real estate taxes you'll pay. If you're open to moving, you might consider states with favorable tax policies on retirement income and Social Security payments. Or, if you qualify by income, think about opening a Roth IRA with tax-free withdrawals in retirement.1096649
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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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