Posts Tagged With ‘ financial planning ’

We are in the most interesting times. For our personal investment clients and 401(k) clients, there have been many smiles so far this year. We are happy that the markets, broadly, have begun this year on a bullish note. 2023–except for a handful of large AI companies–was a poor year for investors. But today, smiles are back. And… It’s an election year, which is usually a pretty good year for investors too. Interest Rates: A Word of Caution However, let’s consider the cautionary winds that are blowing gently so far but still persist. Wall Street experts believe that the Federal Reserve... Continue Reading

How important do you feel conducting quarterly reviews and evaluations are for your personal and professional growth? For small businesses and entrepreneurs, the right type of evaluation with revisions lays the foundation for future growth and success. It allows us to build on what is working and eliminate or revise what is not. There was no major in entrepreneurism when I attended college and I didn’t fully realize that I was an entrepreneur until later in my career. I had thought of myself as an entertainer and educator. The process for quarterly reviews and evaluations started creeping in... Continue Reading

As the phrase goes, “May we live in interesting times”—and indeed, we certainly do. Current Global Economic and Financial Landscape Here’s what’s happening around the globe: An expanding war looms in the Middle East. Russia and Ukraine are entrenched in conflict with no resolution in sight. China’s intentions towards Taiwan are becoming increasingly aggressive, and it’s uncertain if there’s a capability or willingness to defend it. Europe is flirting with recession, while economists suggest we might be approaching a “soft landing,” potentially easing into a recession here at... Continue Reading

                Paving the way to burden season, a huge number of Americans could owe the IRS thousands on their Government backed retirement installments. While Government managed retirement installments saw a cost for many everyday items change (COLA) of 3.2 percent this year, there could be unseen side-effects on many seniors’ assessment forms On the off chance that their salaries are helped excessively high, it could place them in an alternate expense section and see a bigger measure of cash taken out. Broadly, around 40% of individuals getting Government backed retirement should... Continue Reading

About one of every seven retired people in the U.S. depend on Government managed retirement for essentially the entirety of their pay, as per an AARP examination. Be that as it may, these advantages don’t generally come without Uncle Sam’s surprises. Some States Tax Social Security for Retirees To demolish monetary issues for retired folks relying upon Government managed retirement to earn enough to get by, a few states force their own state personal duties on benefits. Luckily, there aren’t close to as many states that force their own expense on Government backed retirement as those that... Continue Reading

As we approach the close of another year, we’re presented with a wonderful opportunity to reflect on our recent successes and learning experiences. This time of introspection is not just a chance to celebrate our achievements but also a pivotal moment to strategically plan for the future. After all, thoughtful planning is a cornerstone of continued success. Consider the following questions in your reflection: 1. Progress Towards Goals Have you moved closer to your financial goals this year? What proactive steps have you taken? Whether it’s refining an existing plan or starting a new one, how... Continue Reading

In the competitive corporate landscape, attracting and retaining executive talent goes beyond offering a top salary. Today, savvy companies are looking toward more comprehensive compensation packages, where tools like Split-Dollar Life Insurance (SDLI) complement traditional 401(k) retirement plans. This strategy not only enhances the value of an executive’s compensation package but also signals a commitment to their long-term financial well-being and security. As businesses continually evolve in their quest to attract and retain top-tier executive talent, innovative compensation strategies have... Continue Reading

Today’s world is evolving rapidly, making it more challenging than ever to attract and hold onto talented employees, particularly senior management. Here are some strategies that might be beneficial, and these require thoughtful conversations: Secure key talent with a Deferred Compensation Plan. Establish a “Split-Dollar” insurance program for your executives. Consider a creative match for your 401(k). Add a New Comparability section to your 401(k). Develop a Cash-Balance Defined Benefit Plan. Offer Financial Planning to your key managers. Present a paid advanced education plan for your... Continue Reading

Even for today’s most financially savvy retirees, the journey to retirement can be much like navigating a labyrinthine maze. With a multitude of financial instruments, ever-changing regulations, and an unpredictable economic landscape, plotting a course to a secure retirement can seem daunting. Enter the Retirement Income Specialist, your compass in this intricate terrain, ensuring you not only find your way but thrive in your golden years. What is a Retirement Income Specialist? A retirement income specialist is a financial professional who focuses specifically on helping clients create,... Continue Reading

I remember the days when creating a financial plan was a cumbersome process, involving countless hours of assembling paperwork and collaborating with individuals who input information without truly understanding who you were. Once this phase was complete, the plan was handed off to an advisor. Typically, such plans, spanning about a hundred pages, would just sit on your night table or desk, with you barely making it past the third page. Essential Components of Financial Plans Not so today! Financial planning has evolved into an interactive necessity for everyone. Here, I will share with you the... Continue Reading