Archive for the ‘Financial Advice’ Category

How Can I Achieve Financial Security?

Tuesday, February 18th, 2014

When it’s time for you to retire, will you be able to afford it? Almost all of the research conducted on the subject, over the last few years, shows that most individuals are unable to demonstrate financial readiness for their retirement years. This only serves to underline the fact that saving for retirement is a challenging process that requires careful planning and follow-through. Here we review some helpful tips that should help you on your way to a comfortable retirement.

Start as Soon as You Can
It is obvious that it is better to start saving at an early age, but it is never too late to start – even if you are already close to your retirement years – because every penny saved helps to cover your expenses.

Treat Your Savings as an Expense
Saving on a regular basis can be a challenge, especially when you consider the many regular expenses we all face, not to mention the enticing consumer goods that tempt us to spend our disposable cash. You can guard amounts you want to add to your nest egg from this temptation by treating your retirement savings as a recurring expense, similar to paying rent, mortgage or a car loan.

Diversify Your Portfolio
The old adage that tells us that we shouldn’t put all of our eggs in one basket holds true for retirement assets. Putting all your savings into one form of investment increases the risk of losing all your investments, and it may limit your return on investment (ROI). As such, asset allocation is a key part of managing your retirement assets

Consider All of Your Potential Expenses in Your Financial Plan
When planning for retirement, some of us make the mistake of not considering expenses for medical and dental costs, long-term care and income taxes. When deciding how much you need to save for retirement, make a list of all the expenses you may incur during your retirement years. This will help you to make realistic projections and plan accordingly.

Budget
Saving a lot of money is great, but the benefits are eroded or even nullified if it means you have to use high-interest loans to pay your living expenses. Therefore, preparing and working within a budget is essential. Your retirement savings should be counted among your budgeted recurring expenses in order to ensure that your disposable income is calculated accurately.

Work with an Experienced Financial Planner
Unless you are experienced in the field of financial planning and portfolio management, engaging the services of an experienced and qualified financial planner will be necessary.

About Safe Retirement Solutions

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

If you have any questions or want to know more about what we can do for you, please contact Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

How To Financially Plan After College

Monday, January 13th, 2014

After graduating from college, young men and women have many things to worry about, especially when it comes to finding a job in today’s business world.  But what many recent grads fail to take into consideration is their financial future.

The best time to start saving for your retirement is NOW!

Financial Advice for Recent College Graduates

  1. Save as much as you can now: Try and save as much money as you can while you are young. Odds are that the future will bring with it many more financial obligations, including a mortgage and a family. But saving along isn’t enough…
  2. You need to Invest: Making the right investments now can make all the difference in the future.
  3. Talk to your Employer: Most companies offer a 401K match plan, which means that your employer will match all or a percentage of what you put away for retirement. If you do not take advantage of this, you are essentially leaving money on the table.
  4. Contact Safe Retirement Solutions: We are a full service, independent financial advisory firm dedicated to providing you with the very best in retirement income planning. Our President and CEO Rod Borowy has been helping people achieve their financial goals since 1975. He considers all of our clients to be a part of the “Safe Retirement Solutions” family.

For more information about Professional Financial Planning or Financial Advice, consult the financial advisers at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

What Are The Benefits of Financial Planning?

Monday, November 25th, 2013

Everyone could benefit from professional financial planning. Don’t believe us?annuities

Benefits of Professional Financial Planning

The primary goal of a professional financial planner is to help you maintain a comfortable lifestyle while still putting away enough money for the future. What is even more impressive is that financial planners are able to consolidate all aspects of your financial life into one coordinated plan. So, unlike stockbrokers, bankers, insurance agents, or accountants, your financial planner helps make your life less complicated…not more complicated.

The Financial Planning Process

The Foundation

  1. Make basic decisions about your current needs and financial objectives.
  2. Outline your financial goals.
  3. Clarify your financial objectives.
  4. Set financial priorities.

Fact Gathering

  1. Review your investment portfolio
  2. Review insurance contracts
  3. Review the benefit plan provided by your company
  4. Analyze your monthly income
  5. Analyze your monthly expenditures

The Financial Plan

  1. Cash Flow Budgeting Analysis 
  2. Capital Management (debt and investment portfolios) 
  3. Estate Planning and Liquidity Analysis 
  4. Income Tax Planning 
  5. Retirement (forecasting benefits, costs and options) 
  6. Insurance Needs (life, property, casualty and disability) 
  7. Educational Funding Requirements
  8. Employee Benefit Analysis (coordinate personal holdings)
  9. Closely-held Business Analysis 

For professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

What Benefits Can A Planner Provide?

Protecting Yourself Against Fraud: Selecting a Financial Advisor

Monday, November 4th, 2013

Most people, at some point in their lives, will need financial advice. When the time comes for you to reach out to a professional financial advisor, whom should you trust? How can you be sure that the financial advisor you choose has your best interests in mind? How do you know that your money is in good hands?

Unfortunately, there is no way to ensure your money is 100% protected. But you can take the following steps to help protect yourself from financial fraud.

1. Take Responsibility: You are hiring a financial ADVISOR. You are still in control…never forget that.

2. Choose Carefully: Your financial advisor will have access to your personal finances, so be sure you choose your financial advisor carefully. An important part of making your choice is to meet candidates in person. Never hire a financial advisor without first meeting face-to-face.

3. Check the Advisor’s Background: Check to be sure the advisor is a Registered Investment Adviser (RIA), and ask to see form ADV, which details any history of regulatory problems and outlines the advisor’s experience and practice methods. Also, references are a good indicator of a financial advisor’s professionalism…so do not be afraid to ask for references.

4. Listen Carefully: Listen to what your potential financial advisor has to say. They should set realistic goals while outlining potential risks. Remember, if it sounds too good to be true, it probably is. Try and avoid financial advisors that make outlandish claims about making you tons of money.

5. Evaluate Concerns: Your financial advisor should be concerned first and foremost with your financial well being.

6. Understand Payments: Do you know how you will be charged? If not, ask. Ask how you will be charged (commission, hourly fee, flat fee or a combination) now and in the future.

7. What is the Advisor’s Specialty? Be sure that you choose a financial advisor that can best work with your portfolio.

8. Be in Control: Do not sign any documents before reading them thoroughly, and never sign blank documents. And consider carefully before giving your financial advisor power of attorney over your finances.

9. Be sure to Receive Statements: Stay in the loop and make sure your financial advisor sends you regular statements regarding your finances.

10. Keep Up: You should receive regular updates from your financial advisor, as well as from the companies where you have investments or insurance. Remember, it is YOUR money. Make sure you know what is going on!

11. Trust Safe Retirement Solutions: Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

For professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Protect Yourself Against Fraud

Do I Need A Professional Financial Advisor?

Monday, September 16th, 2013

Let’s face it; today’s financial investment options are complicated. And with the financial marketplace ever-changing – with new laws and regulations, new economic events, new market changes, and new product offerings – making the right financial choices has never been more difficult.

For that reason, most individuals are opting to utilize the expertise of a professional financial advisor instead of attempting to handle their own finances. A professional financial advisor, like the ones found at Safe Retirement Solutions, can help you organize your finances in the most efficient manner to reduce taxes, maximize investment return, provide adequate risk management, save time, and attain financial peace of mind. 

Safe Retirement Solutions is your full service, independent financial advisory firm dedicated to providing you with the very best in retirement income planning.

Making the right financial moves at the right time is critical to achieving security and accomplishing personal objectives. And remember, it is never too early to start planning for you future!

If you have any questions about what you have just read, or if you would like to know more about Professional Financial Advisors and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

What is a Trust

Monday, September 2nd, 2013

A trust is a legal entity that is created for the purpose of transferring property to a trustee for the benefit of a third person (beneficiary). The trustee manages the property for the beneficiary according to the terms of the trust document.

Beneficiary: A beneficiary is an equitable (or beneficial) owner of the trust property. Either immediately or eventually, the beneficiaries will receive income from the trust property, or they will receive the property itself. Until this time, the trust is primarily the responsibility of a trustee.

Trustee: Trustees are usually appointed by the trust, but can be court appointed in the case that no trustee was previously designated. There are two main types of trustees, professional and non-professional. A trustee has several rights and responsibilities depending on the type of trust.

Types of Trusts

  • Revocable trusts
  • Irrevocable trusts
  • Irrevocable life insurance trusts
  • Qualified terminable interest property trusts
  • Spendthrift trust
  • Grantor trusts

 

  • Credit shelter trusts or Bypass trust
  • Generation-skipping trusts
  • Qualified personal residence trusts
  • “Self-Settled” Special Needs trusts
  • “Third-Party” Special Needs trust
  •  And more!

Consult a financial adviser to find out which type of trust best fits your wants and needs.

Benefits of Trusts

  • Provide management assistance for your heirs.
  • Can help minimize estate taxes for married individuals with substantial assets.
  • Contingent trusts for minors allow you to avoid the costs of having a court-appointed guardian to manage you children’s assets should you die.
  • When properly funded, trusts help avoid many of the administrative costs of probate, including attorney fees and document filing fees.
  • Revocable living trusts help keep the distribution of your estate and other private assets.
  • Trusts can be used to dispense income to intermediate beneficiaries (e.g., children, elderly parents) before final property distribution.
  • Trusts can ensure that assets go to your intended beneficiaries. For example, if you have children from a prior marriage you can make sure that they, as well as a current spouse, are provided for.
  • Trusts can minimize income taxes by allowing the shifting of income among beneficiaries.
  • Properly structured irrevocable life insurance trusts can provide liquidity for estate settlement needs while removing the policy proceeds from estate taxation at the death of the insured.

If you have any questions about what you have just read, or if you would like to know more about trusts and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Advantages of Trusts

Trust Law

What kinds of trusts are there?

Different Types of Trusts for Different Purposes

What Is a 401K?

Tuesday, July 16th, 2013

A 401k gets a lot of attention. When it comes to saving up for retirement, it seems that everyone is concerned about making sure that they have a 401k. What exactly is a 401k?

In short, a 401k is a retirement plan that your employer sponsors. Workers are allowed to save and invest a portion of their paycheck before taxes are taken out. The money saved is used when the employee retires.

There are specific rules and stipulations regarding a 401k. Such as, you cannot access the money immediately; you must work for your employer for a certain amount of time before gaining access to what they contribute to your 401k. Additionally, there are penalties for withdrawing funds before your retirement.

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

For more information about Estate Plans, or for professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Source:

http://guides.wsj.com/personal-finance/retirement/what-is-a-401k/

Do I need a professional financial advisor?

Wednesday, July 10th, 2013

The simple answer is no…you do not NEED a financial advisor. But is it a good idea to hire a professional financial advisor? You better believe it!

Today’s society is complex enough. And it is only going to get more complex.

Between your family, your career, your community responsibilities, and your personal interests, you barely have enough time to breathe, let alone keep up with the ever-changing financial marketplace. New laws, regulations, economic events, market changes, product offerings, and the like continue to cloud the marketplace.

Making the right financial choices has never been more difficult. Yet, making the right financial moves at the right time is critical to achieving security and accomplishing personal objectives.

Benefits of Professional Financial Planning

The primary goal of a professional financial planner is to help you maintain a comfortable lifestyle while still putting away enough money for the future. What is even more impressive is that financial planners are able to consolidate all aspects of your financial life into one coordinated plan. So, unlike stockbrokers, bankers, insurance agents, or accountants, your financial planner helps make your life less complicated…not more complicated.

Trust Safe Retirement Solution

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

For more information about Estate Plans, or for professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Tips from Financial Advisors in Annapolis: Asset Allocation

Monday, March 25th, 2013

We’re all prone to falling into routines and sticking with them: ordering the same dish at our favorite restaurant, waking up the same time every day, enjoying our creature comforts. But diversifying our options brings flavor to our lives, exposing us to a new ingredient we’ve never encountered, or allowing us to rise a few minutes earlier to watch the sun rise. Diversification should also be applied to your investment choices. We all know by now not to put all our eggs in one basket, but do we have the right mix of asset classes? Assets should be divided amongst stocks, bonds, and cash alternatives in order to bring variation to your portfolio.

All of your investment choices will have their own set of strengths and weaknesses, that combined, will create a synergistic cohesion. You might choose some investments because of their potential for growth over time. Others, because of the steady stream of income they provide. Still others because they allow a safe place for you to keep your money over a long period of time. Whatever investments you choose, you must analyze your risk and return on a product in order to develop the right balance.

That’s where we come in. The financial advisors in Annapolis at Safe Retirement Solutions can help you develop a diversified portfolio to help you make the most of your investments. To get started, call 877-268-4086 or visit our website today!

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Baltimore Retirement Advisors: All About IRAs

Friday, March 22nd, 2013

How much money can you contribute to your IRA? Does the amount you’re able to give depend upon how much you put towards your 401(k)? How are IRAs impacted by taxes? We’re here to fill you in.

Planning for retirement demands an integrated approach to saving and investment. In 2013, you can contribute up to $5,500 towards your IRA. If you’re over the age of 50, that amount increases by $1,000 to make for a total contribution of $6,500. Depending upon your salary, there may be limitations upon your ability to make deductible contributions to a traditional IRA if you’re already participating in a 401(k) plan, so check with your HR department to figure out how to partition your contributions.

So – how much of that money is taxed each year? The answer depends on whether you have a traditional or Roth IRA. In a traditional IRA, much like a 401(k), the contribution you make to your account isn’t subject to income taxes until you begin receiving a distribution from the plan. With a Roth IRA on the other hand, you pay income tax, and then make your contribution with post-tax dollars. Upon withdrawal, you’ll owe no taxed, and your principal will grow tax-free.

For more information about IRAs and retirement planning in Baltimore, Maryland, call 877-268-4086 or visit our website today!

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