Get to Know Your Founding Advisors at Five Pine Wealth Management

admin • March 20, 2023

By the Five Pine Wealth Management Team

Jeremy Morris

Since 2017, the team at Five Pine Wealth Management has had the great pleasure of serving a diverse group of clients, and we have loved every minute of it. To celebrate six years in business, we’d like to share our stories with you in the hope that you will get to know us even better than you already do. 

As you might know, cofounders Ben and Jeremy met in 2016. After working with a large financial advisory team for a couple of years, they decided they wanted to focus on being fee-only fiduciaries and holistic financial planners. So they branched into the world of entrepreneurship and began Five Pine Wealth Management. Ever since, they’ve worked hard to develop a relationship-centric culture for themselves, their team, and their clients so that going to work every day no longer feels like work at all.

Get to Know Jeremy

In 1998, Jeremy escaped the dry, hot Mojave Desert to pursue an education in Managerial Economics at Oregon State University. While there, he also earned an MBA in Wealth Management. And once he got a taste of the green, cool Pacific Northwest, Jeremy knew he wasn’t returning to the sunny Southwest. After graduation, he settled in Coeur d’Alene, Idaho where he later met Ben Holzhauser. 

An avid fisherman, Jeremy spends many a weekend fishing the lakes and rivers of Northern Idaho. He also enjoys dual sport motorcycle riding in the woods, spending time with his friends and family, and reading every book about Bitcoin he can get his hands on. A few of his favorites include The Bitcoin Standard by Saifedean Ammous and Inventing Bitcoin by Yan Pritzker.

Why Jeremy Became a Financial Advisor 

Jeremy is a natural-born problem-solver, and no career field offers more genuine problems that need solving than financial services. As a financial advisor, Jeremy gets to use his problem-solving skills every day to help his clients tackle challenges that have a real impact on the quality of life they get to enjoy in the present and the future. 

Jeremy knew he didn’t want a job with a checklist or a routine set of tasks, and he loves that no client situation is quite like another. Helping people learn to make better financial decisions and meet their financial goals provides him with the utmost satisfaction. 

Jeremy respects that his input can have a long-lasting, deeply meaningful impact on the lives of his clients. He knows how important it is that they get the financial planning aspect “right” if they’re to live the lives they want. And he is humbled by the fact that his guidance may have generational effects on his clients and their heirs for decades to come.

On a personal level, being a financial advisor gives Jeremy the autonomy he desires in a career. He loves being able to set his own schedule and having the freedom to choose who he works with—and he believes he gets to work with the best people in the world! His clients become friends, so his job doesn’t seem like work to him at all.

Jeremy’s Wealth Management Specialties

Jeremy specializes in holistic financial planning and wealth management, including insurance planning, estate planning, retirement planning, and investment management. He believes that each area is a critical component of a solid financial foundation.

Jeremy considers himself a Bitcoin maximalist (only Bitcoin, not cryptocurrency as a whole) and understands the space more than most financial advisors. While he doesn’t make purchase recommendations, Jeremy educates his clients on ways to include Bitcoin in their financial and estate planning. He believes that Bitcoin can be used to leave heirs a lasting legacy in the face of inflation and currency debasement.

Get to Know Ben

Before Ben and his beautiful wife, Rachael, had their daughter Evelyn in the summer of 2022, Ben enjoyed traveling across the US (he has been to 47 states) as well as worldwide (more than 20 countries). He comes from a long line of Idahoans: Ben’s grandparents and great-grandparents lived near Priest River, Idaho going back to the 1960s. Today Ben, Rachael, and Evelyn call Coeur d’Alene home.

After earning his Bachelor of Arts degree from the University of California in Riverside, Ben pursued a Master of Science degree from the University of Edinburgh in Scotland. Once he finished grad school, Ben worked in compliance and national accounts for a broker-dealer and various investment products. 

Ben is an avid reader and is passionate about various eras of world history. As a student at the University of Edinburgh, he founded the Historical Society for the Second World War. When Ben is not working, he enjoys early morning runs, spending time with his wife and daughter, bowling with a Sunday night league, working on his 100-year-old home, and volunteering for various organizations. 

In the past five years, Ben has been President of the Coeur d’Alene Evening Rotary, Treasurer (x3) of Coeur d’Alene Evening Rotary, Head Trustee of Coeur d’Alene Eagles, President of Early Birds Bowling League, and winner of the “Kootenai County Top 30 Under 40” award. 

Why Ben became a financial advisor

Ben has a diverse background in financial services and spent 12 years working in various real estate investing and private equity roles. While this experience was highly educational, too often Ben would meet with financial advisors that sold expensive products to their clients while neglecting to understand their client’s goals behind investing. 

He commonly experienced financial representatives acting like sales agents, rather than taking the time to understand their clients’ needs and help them achieve their financial goals while taking into consideration fees, tax planning, and more.

Seeing how so many advisors ran their practice, Ben realized that he could make a greater impact by helping individuals, families, and businesses achieve their financial goals as a fiduciary and fee-only financial planner.

As a holistic financial planner, Ben gets to do more of what he loves, which is focusing on the relationship-centric aspects of wealth management. He has a high regard for his clients’ unique visions and enjoys helping them find creative solutions to their problems over the course of a long-term professional relationship. 

Ben’s wealth management specialties

Holistic financial planning allows Ben to pursue two of his interests alongside one another: living a healthy lifestyle and solving the puzzles of personal finance. He approaches wealth management from a whole life perspective to go beyond the numbers. 

Rather than setting arbitrary financial goals, Ben helps his clients consider their vision for the future alongside their health and lifestyle choices to craft a truly custom financial plan. From there, they consider how long a nest egg will need to last based on how active and healthy an individual client might be, as many people are finding they will be retired for 30+ years. 

Ben also helps his clients visualize how they will spend their time in retirement, as the emotional transition can oftentimes be just as challenging—if not more so—than the financial transition. As his clients prepare to go from working full-time to full-time leisure, he encourages them to think of low-cost yet enjoyable day-to-day activities that will allow more flexibility for higher-cost, more infrequent pleasures like traveling. 

Ben and Jeremy’s Shared Philosophies

Ben and Jeremy both believe strongly in the value of education. One of their favorite parts of their job is educating clients about personal finance choices and strategies they’d never before considered. In Jeremy’s words, watching clients have that ‘aha’ moment is one of the most rewarding parts of being a financial advisor. 

Since Ben and Jeremy are younger than many advisors, they’re more knowledgeable in modern areas of personal finance that are highly relevant to today’s wealth management strategies, such as incorporating Bitcoin and other alternative assets into diversified portfolios. 

Ben and Jeremy are often opposed to using actively managed and potentially tax-inefficient mutual funds. Rather, they advocate passive investing strategies and believe in using low-cost ETFs, mutual funds, and indexing strategies to help their clients keep more of their money.

At their core, Jeremy and Ben believe that every client presents a unique set of challenges and opportunities depending on their life situation, goals, and time horizon. And as wealth strategists who truly create value for their clients, they know there are no cookie-cutter approaches to financial planning. 

Instead, they believe that high-caliber wealth strategists need to develop long-term, meaningful relationships with their clients. They prioritize regular communication to build trust and become a dependable resource for the individuals, families, and business owners they work with.

Join the Family at Five Pine Wealth Management

At Five Pine Wealth Management , we pride ourselves on the fiduciary care we show our clients, as well as the personal relationships we’ve developed with every family we work with. If you have friends or family that you think would benefit from working with us, we would be honored to connect with them. Have them give us a call at 877.333.1015, email us at info@fivepinewealth.com , or visit our website to learn more about what it’s like to work with us. 

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What's the Best Asset Allocation for Someone 10 Years Away from Retirement?

December 22, 2025
Key Takeaways Your guaranteed income sources (pensions, Social Security) matter more than your age when deciding allocation. Retiring at 65 doesn't mean your timeline ends. You likely have 20-30 years of investing ahead. Think in time buckets: near-term stability, mid-term balance, long-term growth. You're 55 years old with over a million dollars saved for retirement. Your 401(k) statements arrive each month, and you find yourself questioning whether your current allocation still makes sense. Should you be moving everything to bonds? Keeping it all in stocks? Something in between? There's no single "correct" asset allocation for everyone in this position. What works for you depends on factors unique to your situation: your retirement income sources, spending needs, and risk tolerance. Let's look at what matters most as you approach this major life transition. Why Asset Allocation Changes as Retirement Approaches When you’re 30 or 40, your investment timeline stretches decades into the future. When you’re 55 and looking to retire at 65, that equation changes because you’re no longer just building wealth: you’re preparing to start spending it. You need enough growth to keep pace with inflation and fund decades of retirement, but you also need stability to avoid the need to sell investments during market downturns. At this point, asset allocation 10 years before retirement is more nuanced than a simple “more conservative” approach. Understanding Your Actual Time Horizon Hitting retirement age doesn't make your investment timeline shrink to zero. If you retire at 65 and live to 90, that's a 25-year investment horizon. Think about your money in buckets based on when you'll need it: Time Horizon Investment Approach Example Needs Short-Term (Years 1-5 of Retirement) Stable & accessible funds Monthly living expenses, healthcare costs, and early travel plans Medium-Term (Years 6-15) Moderate risk; balanced growth Home repairs, care and income replacement, and helping grandchildren with college Long-Term (Years 16+) Growth-oriented with a Long-term care expenses, decades-long timeline legacy planning, and extended longevity needs This bucket approach helps you think beyond simple stock-versus-bond percentages. Asset Allocation 10 Years Before Retirement: Starting Points While there's no one-size-fits-all answer, here are some reasonable starting frameworks: Conservative Approach (60% stocks / 40% bonds) : Makes sense if you have minimal guaranteed income or plan to begin drawing heavily from your portfolio upon retirement. Moderate Approach (70% stocks / 30% bonds) : Works well for those with some guaranteed income sources, moderate risk tolerance, and a flexible withdrawal strategy. Growth-Oriented Approach (80% stocks / 20% bonds) : Can be appropriate if you have substantial guaranteed income covering basic expenses and the flexibility to reduce spending temporarily as needed. Remember, these are starting points for discussion, not recommendations. 3 Steps to Evaluate Your Current Allocation Ready to see if your current allocation still makes sense? Here's how to start: Step 1: Calculate your current stock/bond split. Pull your recent statements and add up everything in stocks (including mutual funds and ETFs) versus bonds. Divide each by your total portfolio to get percentages. Step 2: List your guaranteed retirement income. Write down income sources that aren't portfolio-dependent: Social Security (estimate at ssa.gov), pensions, annuities, rental income, or planned part-time work. Total the monthly amount. Step 3: Calculate your coverage gap. Estimate monthly retirement expenses, then subtract your guaranteed income. If guaranteed income covers 70-80%+ of expenses, you can be more growth-oriented. Under 50% coverage means you'll need a more balanced approach. When to Adjust Your Allocation Here are specific triggers that signal it's time to review and potentially adjust: Your allocation has drifted more than 5% from target. If you started at 70/30 stocks to bonds and market movements have pushed you to 77/23, it's time to rebalance back to your target. Your retirement timeline changes significantly. Planning to retire at 60 instead of 65? That's a trigger. Every two years of timeline shift warrants a fresh look at your allocation. Major health changes occur. A serious diagnosis that changes your life expectancy or healthcare costs should prompt an allocation review. You gain or lose a guaranteed income source. Inheriting a pension through remarriage, losing expected Social Security benefits through divorce, or discovering your pension is underfunded. Market volatility affects your sleep. If you're checking your portfolio daily and feeling genuine anxiety about normal market movements, your allocation might be too aggressive for your comfort, and that's a valid reason to adjust. Beyond Stocks and Bonds Modern retirement planning involves more than just deciding your stock-to-bond ratio. Consider international diversification (20-30% of your stock allocation), real estate exposure through REITs, cash reserves covering 1-2 years of spending, and income-producing investments such as dividend-paying stocks. The Biggest Mistake: Becoming Too Conservative Too Soon Moving everything to bonds at 55 might feel safer, but it creates two significant problems. First, you're almost guaranteeing that inflation will outpace your returns over a 30-year retirement. Second, you're missing a decade of potential growth during your peak earning and saving years. The difference between 60% and 80% stock allocation over 10 years can mean hundreds of thousands of dollars in portfolio value. Being too conservative can be just as risky as being too aggressive, just in different ways. Questions to Ask Yourself As you think about your asset allocation for the next 10 years: What percentage of my retirement spending will be covered by Social Security, pensions, or other guaranteed income? How flexible is my retirement budget? Could I reduce spending by 10-20% during a market downturn? What's my emotional reaction to seeing my portfolio drop 20% or more? Do I plan to leave money to heirs, or is my goal to spend most of it during retirement? Your honest answers to these questions matter more than your age or any generic allocation rule. Work With Professionals Who Understand Your Complete Picture At Five Pine Wealth Management, we help clients work through these decisions by looking at their complete financial picture. We stress-test different allocation strategies against various market scenarios, coordinate withdrawal strategies with tax planning, and help clients understand the trade-offs between different approaches. If you're within 10 years of retirement and wondering whether your current allocation still makes sense, let's talk. Email us at info@fivepinewealth.com or call 877.333.1015 to schedule a conversation. Frequently Asked Questions (FAQs) Q: What is the rule of thumb for asset allocation by age? A: Traditional rules like "subtract your age from 100" are oversimplified. Your allocation should be based on your guaranteed income sources, spending flexibility, and risk tolerance; not just your age. Q: Should I move my 401(k) to bonds before retirement? A: Not entirely. You still need growth to outpace inflation. Gradually shift toward a balanced allocation (60-80% stocks, depending on your situation) and keep 1-2 years of expenses in stable investments. Q: What's the difference between stocks and bonds in a retirement portfolio?  A: Stocks provide growth potential to keep pace with inflation but come with volatility. Bonds offer stability and income but typically don't grow as much.

Rebuilding Wealth After Divorce: A Complete Guide to Your Financial Fresh Start

November 21, 2025
Key Takeaways Divorced spouses married 10+ years can claim Social Security benefits based on their ex’s record without reducing anyone else's benefits. Splitting retirement accounts requires specific legal documents (QDROs for 401(k)s) drafted precisely to your plan's requirements. Investment properties and taxable accounts carry hidden tax liabilities that significantly reduce their actual value. No one gets married planning for divorce. Yet here you are, facing a fresh financial start you never wanted. Maybe you’re 43 with two kids and suddenly managing on your own. Or you’re 56, staring down retirement in a decade, wondering how you’ll catch up after splitting assets down the middle. We get it. Divorce is brutal, emotionally and financially. And the financial piece often feels overwhelming when you're still processing everything else. According to research , women's household income drops by an average of 41% after divorce, while men's falls by about 23%. Those aren't just statistics. They're the reality many of our clients face when they first come to us. But here's something we've seen time and again: While you can't control what happened, you absolutely can control what happens next. Financial planning after divorce isn't just damage control. With the right approach, it can be the beginning of a more intentional and empowered relationship with your money. Here’s how to get there: First, Understand What You’re Working With Before you can move forward, you need a clear picture of your current financial situation. Start by gathering every financial document related to your divorce settlement: property division agreements, retirement account splits, alimony or child support arrangements, and any debt you’re responsible for. Then create a simple inventory: What you have: Bank account balances Investment and retirement accounts Home equity Expected alimony or child support income What you owe: Mortgage or rent obligations Credit card debt Car loans Student loans This baseline gives you something concrete to work with. You can't build a plan without knowing where you're starting from. Social Security Benefits for Divorced Spouses This one surprises people. If you were married for at least 10 years, you may be entitled to benefits based on your ex-spouse's work record, even if they've remarried. You can claim benefits based on your ex’s record if: Your marriage lasted 10+ years You’re currently unmarried You’re 62+ years old Your ex-spouse is eligible for Social Security benefits The benefit you can receive is up to 50% of your ex-spouse’s full retirement benefit if you wait until full retirement age to claim. Importantly, claiming benefits on your ex’s record doesn’t reduce their benefits or their current spouse’s benefits. If you’re eligible for both your own benefits and your ex’s, Social Security will automatically pay whichever amount is higher. What About Splitting Retirement Accounts in Divorce? Retirement accounts often represent one of the largest assets in a divorce settlement. Understanding how to handle the division properly can save you thousands in taxes and penalties. The QDRO Process For 401(k)s and most employer-sponsored retirement plans, you’ll need a Qualified Domestic Relations Order (QDRO). This legal document outlines the plan administrator's instructions for splitting the account without triggering early withdrawal penalties. QDROs must be drafted precisely according to both your divorce decree and the specific plan’s rules and requirements. We’ve seen clients lose thousands of dollars because their QDRO wasn’t accepted and had to be redrafted. Work with an attorney who specializes in QDROs. The upfront cost will be worth it to avoid expensive problems later. What About IRAs? Traditional and Roth IRAs can be split through your divorce decree without a QDRO. The transfer must be made directly from one IRA to another (not withdrawn or deposited) to avoid taxes and penalties. Tax Implications to Consider When you receive retirement assets in a divorce, you’re getting the account value and its future tax liability. A $200k traditional 401(k) isn’t worth the same as $200k in a Roth IRA or home equity, because of the different tax treatments. Many settlements divide assets dollar-for-dollar without considering how those dollars are taxed, so make sure yours addresses these differences. Dividing Investment Properties and Taxable Accounts Retirement accounts aren’t the only assets that require careful handling. If you own real estate investments or taxable brokerage accounts, the way you divide them matters. The Capital Gains Dilemma Let’s say you own a rental property purchased for $200k and is now worth $400k. Selling it as part of the divorce triggers capital gains tax on that gain, potentially $30,000-$60,000, depending on your tax bracket. Some couples avoid this by having one spouse keep the property and buy out the other’s share. This defers the tax hit, but you’ll want to ensure the buyout price accounts for future tax liability. Taxable Investment Accounts Brokerage accounts can be divided without triggering taxes if you transfer shares directly rather than selling and splitting proceeds. However, not all shares are equal from a tax perspective. Smart divorce settlements account for the cost basis of investments. These decisions require coordination between your divorce attorney, a CPA who understands divorce taxation, and a financial advisor who can model different scenarios. We remember a client whose settlement gave her a rental property “worth” $350,000. But the $80,000 in deferred capital gains owed when selling wasn’t accounted for. She effectively received $270,000 in value, not $350,000, a massive difference in her actual financial position. Building Your New Budget and Savings Strategy Living on one income after years of two requires adjustment. Start with your new essential expenses: housing, utilities, groceries, transportation, insurance, and any child-related costs. Then look at what’s left: this is where you begin rebuilding your financial cushion. Rebuilding Your Emergency Fund If you had to split or use your emergency savings during the divorce, rebuilding should be your first priority. Aim for at least three months of expenses, then work toward six months. Even $100 a month adds up to $1,200 each year. Maximize Retirement Contributions This feels counterintuitive when money is tight, but if your employer offers a 401(k) match, contribute at least enough to get a full match. Otherwise, you’re leaving free money on the table. If you’re over 50, take advantage of catch-up contributions. For 2025, you can contribute up to $23,500 to a 401(k), plus an additional $7,500 in catch-up contributions. If you're between 60-63, that catch-up increases to $11,250. Address Debt Strategically Post-divorce debt looks different for everyone. If you accumulated credit card debt while covering legal fees or temporary living expenses during divorce proceedings, prioritize paying these off once your settlement funds are available. Updating Your Estate Documents Updating beneficiaries and estate documents, a critical step, is sometimes overlooked. Check beneficiaries on: Life insurance policies Retirement accounts Bank accounts with payable-on-death designations Investment accounts Beneficiary designations override what’s in your will. We’ve seen ex-spouses receive retirement assets years after a divorce simply because the account owner failed to update beneficiaries. Address your will, healthcare power of attorney, and financial power of attorney, too. You're Not Starting from Zero Rebuilding wealth after divorce is about creating a financial foundation that supports the life you want to build moving forward. You have experience, earning potential, and time. It’s not a matter of if you can rebuild, but how efficiently you’ll do it. If you’re navigating financial planning after divorce, we can help. At Five Pine Wealth Management, we work with clients through major life transitions, creating practical strategies tailored to your specific situation. Call us at 877.333.1015 or email info@fivepinewealth.com to schedule a conversation. Frequently Asked Questions (FAQs) Q: Will I lose my ex-spouse's Social Security benefits if I remarry? A: Yes. Once you remarry, you can no longer collect your ex-spouse’s benefits. However, if your new marriage ends, you may claim benefits based on whichever ex-spouse's record is higher. Q: How long after divorce should I wait before making major financial decisions? A: Most advisors recommend waiting 6-12 months before making irreversible decisions like selling your home or making large investments. Focus first on understanding your new financial situation and letting the emotional dust settle. Q: Should I keep the house or take more retirement assets in the settlement?  A: This depends on your specific situation, but remember: houses have ongoing costs like property taxes, insurance, maintenance, and utilities that retirement accounts don't. We help clients run scenarios comparing both options, factoring in everything from cash flow needs to long-term growth potential, before deciding what makes sense for their situation.