Focus on these four wealth-building levers to maximize your financial growth: income, savings rate, asset location, and asset allocation, as they work together to accelerate wealth accumulation.
Over 30 years, the return on a 30-year U.S. Treasury Bond has significantly decreased, illustrating the changing dynamics of investing and purchasing power over time.
Inflation hits closer to home when you realize a $100 bill today could only buy half as much in 20 years, with recent experiences like a 22% increase in the cost of a haircut highlighting its impact.
Simplify your financial planning process: Instead of lengthy documents, focus on clear, actionable steps to achieve your goals and take control of your finances, one step at a time.
The Back Door IRA strategy involves contributing to a non-deductible IRA and converting it to a Roth IRA, but if you have a Traditional IRA, it gets more complicated, so it’s best to seek guidance.
Avoid withholding during Roth conversions if you’re under 59 ½ to prevent a 10% penalty on any mismatch between the converted amount and withheld taxes.
Before initiating Roth conversions, ensure you can answer “YES” to all three essential questions, and if not, focus on accumulating cash, which serves as your conversion fuel.
In our daily schedules, there’s a crucial “Magic Window” where we decide our priorities. If you’d rather not handle financial complexities during this time, hiring a planner can streamline your journey and save you time.
While simplicity suffices in the beginning, a financial planner can offer clarity and guidance as complexities arise, saving time and reducing stress.
If you foresee higher taxes in the future and have most assets in pre-tax retirement plans, transitioning to tax-free investment vehicles is crucial—act now to devise a plan.
What can you gain from working with a financial planner, what are you missing?
A financial plan is like a roadmap, guiding you from where you are to where you want to be, aligning your goals with actionable steps for an optimal journey.
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Securities are offered through LPL Financial, Member FINRA/SIPC. Know My Plan is an other business name of Independent Advisor Alliance, LLC. All investment advice is offered through Independent Advisor Alliance, LLC, a registered investment adviser.
Independent Advisor Alliance, LLC is a separate entity from LPL Financial. The LPL Financial representatives associated with this page may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted by residents of any other state.
