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The Importance of Engaging a Financial Professional for Your Tax Needs
In today's complex financial environment, managing taxes can feel like navigating a labyrinth, especially for those who find IRS worksheets and tax regulations overwhelming. For many, the question arises: Should a financial professional help with your taxes? The answer, often, leans towards a resounding yes. Even individuals who have a basic understanding of tax processes may not be fully aware [...]
Tips for Effective Pre-Retirement Planning
Embarking on the journey toward retirement often feels overwhelming, yet with a thoughtful approach, it can be navigated with ease and confidence. If you're a pre-retiree, you may have an understanding of your savings patterns and how much you have. But that's a totally different perspective from taking steps to transform what you have into what supports your lifestyle without [...]
Are You in Your 40s or 50s? It’s Time for a Retirement Strategy
As a member of Generation X, you're likely approaching your peak income years. It can be exciting to earn more and support yourself and your family. However, other facets of financial planning may have slipped your mind. Consider this: have you mapped out a financial plan for a retirement that could last 15 years? Fifteen years might feel like a [...]
Do You Have a Plan for What Medicare Doesn’t Cover?
It’s a common misconception that Medicare will cover all health costs during retirement. Frequently, we encounter clients with comprehensive retirement strategies that have considered nearly every aspect of their retirement except healthcare. They tend to assume that their current good health will continue into their later years. However, this isn’t always the reality. Certain aspects of your health may decline [...]
How to Build a Retirement Plan with Your Spouse
If you don't know your partner's retirement plans, you're likely on the path to a tumultuous journey. Consider whether you know their detailed retirement plan. Do you know the exact date they intend to retire? Do you have a clear understanding of how your financial situation will be managed? Retirement hinges on strategic planning, and if that's not a shared [...]
Tips for When to Itemize Your Taxes
If you’re finding yourself with a tax headache and you’re sick of staring at complicated rules and numbers, you are not alone! Taxes are always a pain. But we have some advice to help you decide if and how you should itemize your taxes this year. The Biggest Consideration: The Standard Deduction The standard deduction for tax year 2023 is [...]
Is it Time to Consider Annuities?
One financial tool your retirement toolbox might be missing is annuities. When it comes to designing a retirement plan that works for your situation, it’s important to know what an annuity is and how it can work for you. Before we get into the technical stuff, let’s just say what an annuity might do for you. An annuity can provide [...]
How to Address the Question: “Do You Have Enough Saved for Retirement?”
A common question when it comes to retirement is, "How much do I need to have saved to live comfortably?" You're probably asking yourself that question all the time. It might even be something that causes you a lot of anxiety. You don't want to have to work into your 70s or even your 80s, so how can you be [...]
