You must be proactive in making a good retirement plan to guarantee a comfortable life in your final years. Retirement planning is more than setting aside enough money for this stage in life. You must also consider taxes, provision for your loved ones, and your legacy. A good financial planner is central to making a sound plan. What are the key elements of a viable retirement plan? 1. Planning for Retirement Income Sources…
Read More »If you want to ensure that your assets are handled exactly how you want them to be during your lifetime, and when you pass, you will want to set up a living trust. With a living trust, your assets will be taken care of properly during your lifetime for your benefit, and when you pass, they will go to your designated beneficiaries. Reason #1: Stay Out of Probate When you don’t plan for your assets and die with any type of wealth, the court has to determine what will happen with your assets.…
Read More »Is your retirement portfolio diversified? Diversification is an important part of retirement financial planning from the earliest stages of saving all the way through the point of withdrawing. But achieving diversity in your portfolio can be much more complex than simply knowing it’s important. What specific types of diversification should you strive for in your investments? Here are a few of the most important. 1. Diversity of Taxes Most retirement savers use tax-advantaged accounts that allow them to deduct their contributions from current taxable income.…
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