Financial Planning
3 Tax Facts That Executives and Business Owners Need to Know About SECURE 2.0
TRANSCRIPT: Happy New Year Everyone! While many of us took advantage of some downtime during the Holidays, our elected representatives in Congress passed an 1800-page tax bill known as SECURE 2.0 which contains several items that well compensated executives and business owners should understand as they manage their finances over the next several years I’m…
Read MoreRetiring Soon? How to Avoid the Taxation “Death Star”!
Creating a Personal Paycheck If you’re within 5 years of retirement, it’s important to take an inventory of the assets that will provide a “personal paycheck” during your “work optional “years. You probably own a traditional IRA or a 401k account with a previous employer. You may also have a Roth IRA and maybe a…
Read MoreFour Wealth Building Tips for Twenty-Somethings
Not Your Father’s Money Tips Hello Everyone! Once again, I will dig into my mailbag to discuss a viewer’s question Jean from Rocky Top asks “What are the best financial moves a 20 something year old can make today?” Thanks Jean- Great question. I’ve been lucky enough to have several clients refer their adult children…
Read MoreFive Mistakes You Want to Avoid Before Retirement
Preparing for retirement is more than selecting a date. Here are 5 mistakes that executives can make before they retire.
Read MoreTop Gun Triathlon
Move over Tom Cruise! There’s a new Top Gun (Triathlon Finisher)!* Set a Goal* Assess Your Current Condition* Make a Plan* Monitor Your Progress* Revise as Necessary* Celebrate Your Victories!#financialplanning #cfppro #believe
Read MoreAre You Ready For the Retirement Triathlon? Three Areas You Must Consider.
If you’re an executive considering the “work Optional” phase in the next 5-10 years, there are three areas you must consider; Cash flow, retirement income, and taxes.
Read MoreAre You Missing This 401k Strategy That Helps Professionals Save More For Retirement?
Cross Tested Retirement Plans allow professional business owners such as Dentists, Doctors, Attorneys, and CPA’s to save more for retirement and reduce taxes. These plans are most suitable for business whose owners are generally older and more highly compensated than other employees. They may be most appropriate for professionals who own their firm and are approaching retirement.
Read MoreFinancial Planning News You Can Use – Episode 3 – Should You Have An Interest In I-Bonds?
The Financial Press has recently increased discussion about a relatively unknown but considerably safe, high yielding, tax advantaged type of interest-bearing bond that you may want to consider for that cash earning next to nothing in your savings account. Are they suitable for you?
Read MoreFinancial Planning News You Can Use- Episode 2 -Wealth, Health, and Congressional Stealth
Executives and business owners should be aware of changes to 401k limits, preventing financial hardship due to illness, and the benefits of donor advised funds.
Read MoreThree Tips for Executives Joining the Great Resignation
Many executives are re-thinking their careers. Here are three factors you need to consider before you take the leap into a solo gig or retirement.
– Do you know your family’s income requirements?
– Have you developed a plan for tax efficient income?
– Have you thought about health care?