Dave Wood- Financial Advisor at Boston Harbor Wealth Advisors

09/03/2026

10 Medicare Mistakes That Can Cost You Thousands

Many people spend decades preparing for retirement, but a simple Medicare mistake can lead to higher premiums, coverage gaps, or lifelong penalties.

Some of the most common mistakes include:

• Missing your enrollment window

• Assuming Medicare covers everything

• Choosing a plan based only on premium cost

• Overlooking prescription drug coverage

• Not revisiting coverage annually as needs change

A little planning can go a long way toward avoiding costly surprises.

I'm Dave Wood, the "how to avoid common Medicare Enrollment mistakes" financial advisor.

Learn how to navigate Medicare’s enrollment periods and avoid costly mistakes that could lead to lifelong penalties.

09/01/2026

A client was about to roll an old 401(k) into an IRA.

Before doing so, we noticed a large portion of the account was invested in highly appreciated company stock.

That opened the door to a strategy many people have never heard of: Net Unrealized Appreciation (NUA).

In the right circumstances, NUA may allow company stock in a 401(k) to receive more favorable tax treatment than a traditional IRA rollover.

The lesson: Sometimes the biggest planning opportunities aren't about picking investments. They're about understanding the tax rules before making a move.

Have you ever heard of the NUA strategy?

The net unrealized appreciation (NUA) is the difference in value between the cost basis of shares of employer stock and the current market value.

08/27/2026

Retirement Planning isn't just about Stocks and Bonds.

It's also about deciding which version of yourself pays taxes:

-Current You
-Future You
-Hopefully-Not-Too-Much-Tax You

That's the idea behind the Tax Triangle:

-Taxable Accounts (Brokerage)
-Tax-Deferred Accounts (Traditional IRAs/401Ks)
-Tax-Free Accounts (Roth IRAs/401Ks)

Having savings in all three buckets may provide more flexibility when managing retirement income, tax brackets, Medicare premiums, and future tax changes.

Question: Which Bucket Holds Most of Your Retirement Savings Today?

08/25/2026

What Happens When Your Child Turns 18?

Many parents don't realize that once a child becomes a legal adult, medical providers may be unable to share medical information or discuss treatment decisions without the proper legal documents in place.

A Health Care Proxy, Advance Health Care Directive, and Durable Power of Attorney can help ensure you're able to assist in an emergency.

If you have a college-bound student or a child who recently turned 18, consider speaking with an estate planning attorney about these important documents.

Doing your estate planning online may save you time and money. Discover ways to protect your assets and loved ones here.

08/20/2026

An Inherited IRA Isn't a Retirement Account Problem. It's a Tax Planning Opportunity.

Please sir, go on.

I recently worked with a client who inherited nearly $1 million in IRAs and was still several years away from retirement.

Their concern wasn't the investments. It was the taxes.

Under the 10-year rule, waiting too long to take distributions could have concentrated a large portion of the withdrawals into their highest earning years.

Using our tax planning software, we modeled multiple withdrawal strategies, projected future tax brackets, and coordinated distributions around their expected retirement timeline.

What started as uncertainty became a clear, tax-efficient roadmap.

I'm Dave Wood, your Inherited IRA Advisor.

Unlike transferred IRAs, Inherited IRA rules require you to take annual distributions no matter your age. Explore more about Inherited IRA distribution rules.

08/18/2026

Will Social Security Be There for Me?

EVERY single client meeting involves the Social Security discussion. If we had time, we could spend an ENTIRE meeting on it.

I'm Dave Wood, your friendly Social Security Advisor.

Social Security Administration Research, Statistics, and Policy Analysis

08/05/2026

The 401K Provision Many Employees Don't Realize They Have:

Many investors assume they've exhausted their retirement savings options once they've reached the annual 401K contribution limit.

However, some employer retirement plans allow participants to make after-tax contributions and automatically convert those dollars to a Roth account. Wait, what?

Known as a Mega Backdoor Roth, this feature can move after-tax contributions into Roth assets shortly after they're deposited, depending on the plan's provisions.

It's not available in every plan, but it's a great example of the flexibility some workplace retirement plans now offer.

CHECK. YOUR. PLAN.

The mega backdoor Roth is a strategy that may help you save more in a Roth IRA or Roth 401(k).

07/30/2026

I'll spare you having to read ALL 38 PAGES.

Retirement Reality Check: Most Americans Are Guessing

The latest retirement research reveals:

• 59% think they're under-saving

• 53% have no retirement savings target

• 76% worry about creating income that lasts throughout retirement

After years of helping families prepare for retirement, I've found the same issue repeatedly:

People aren't failing because they lack effort. They're failing because they lack a plan.

The goal isn't just to accumulate assets. It's to create confidence that your money can support the life you want.

07/28/2026

Give me a LITER OF COLA...

The Social Security COLA for 2027 has not yet been announced. That will come in October 2026.

The 2026 COLA was 2.8%.

Current estimates range from 3.6%-3.8%.

New estimates show Social Security's annual cost-of-living adjustment for 2027 may be between 3.7% and 3.8%. Here's what to know.

07/23/2026

I'll have the Diversification with a Side of Stay the Course Please.

We meet with money managers ALL THE TIME. It's part of our due diligence process.

We collect inputs and develop a consensus amongst these custodians.

So what are they ALL saying?

Diversification is KEY.

Diversifying your investments is typically considered a cornerstone of smart investing for the way it can help reduce risk without sacrificing potential returns.