Why Regularly Reviewing Employee Benefits Matters
Recent weeks saw significant shifts in employer retirement plans, like adding Roth 401k options or changing vesting schedules, highlighting the need for regular benefits reviews.
Why One Investment Firm Is Your Best Bet For Success
Using multiple investment firms may seem wise, but it often leads to confusion and suboptimal results, emphasizing the importance of consolidating financial planning efforts for better outcomes.
10 Financial Topics To Address With Aging Parents
As our parents age, it’s crucial for us to understand their financial situation, covering key topics from property to legacy planning, to ensure clarity and preparedness for the future
The Ins And Outs Of 72T Distributions
72T distributions enable penalty-free IRA withdrawals before age 59 ½, but require meticulous calculation and professional guidance.
How Dividend-Growth Stocks Drive Passive Income Growth
Investing in dividend-growth stocks like Hershey can yield increasing passive income, but diversification is crucial, and it’s important to remember that dividend payments are not guaranteed
Leveraging The Age 55 Rule For Penalty-Free 401k Access
401k’s and IRA’s have different rules for penalty-free withdrawals: while age 59 ½ is commonly known, the age 55 rule allows penalty-free 401k withdrawals upon separation from employment, emphasizing the importance of understanding retirement account nuances for early planning.
Fine-Tuning Your Financial Plan
Fine-tuning your financial plan, like tuning a guitar, is crucial for long-term success, adapting to changing tax laws, contributions, and evolving goals with flexibility.
Stocks vs. Bonds – Which is the Better Bet?
Choosing between placing lottery winnings in an S&P 500 Index Fund or a 10-year treasury bond poses a dilemma: guaranteed returns versus potential dividends from a diversified portfolio.
Does Your Portfolio Align With Your Dreams?
Achieving financial independence in 10 years requires balancing conservative and aggressive approaches, calculating the required rate of return, and considering risk tolerance, highlighting the dynamic nature of financial planning.
Steps To Upgrade Your Financial Plan
Clients start with a strong financial plan rated “A,” but my goal is to elevate it to “A+,” adjusting for changing variables like tax laws and personal circumstances, recognizing plans become outdated upon creation.
Leveraging Life Insurance For Family Financial Support
We examine a strategy where the child owns a life insurance policy on their parents, paying annual premiums of $15k for 20 years and receiving a tax-free death benefit of $700k after their passing, achieving an 8.18% internal rate of return.
How Much Should I Be Saving?
After establishing the target “nest egg” of $3.8 million, the next step is to calculate the annual savings needed, such as $77,000 per year over 20 years, accounting for tax implications, especially with various account types.
