Posts Tagged ‘retirement income planning’

What Are The Benefits of Professional Financial Planning?

Monday, December 23rd, 2013

When you are thinking about the future with your family, I’m sure you have many concerns. How many dogs should we get? What schools your children will attend? What trips to take with loved ones? When you’re ready to stop day-dreaming and start planning, you’ll realize that the first step working towards the future is cultivating a stable financial nest.retirement savings

The benefits of professional financial planning lend themselves to all future matters, big and small. Most importantly, you want to have a stable financial future.

Benefits of professional financial planning

  • A professional financial advisor will help you set realistic plans. Both long term and, more importantly, short term plans will need to be weighed in order to plan what you can and cannot accomplish, and what it most important to you.
  • You will be able to develop an in-depth, concrete, look at your assets, liabilities, income, insurance, taxes, investments and estate plan.
  • Financial planning is imperative for investment plans, especial ones over 100k that you don’t feel comfortable managing.
  • You will be able to confidently manage expenses as a cohesive family unit, especially when your combined earnings are over $150,000 or higher.
  • Financial Planning will help you understand the risks. Some risks may be advisable, some may be suicidal, it all depends on your current and future prospects, and what goals you’d like to focus on.
  • Help keeping you active. Depending on the level of personal importance, future goals will come and go. Your income will also fluctuate. A personal financial advisor will know how to strategize based on your financial history and current/future changes.

What a professional financial plan really gives you is time. With help from an advisor you save and create free time by planning and effectively managing your financial situation. By building that nest you are planning for the big score, and not wasting time on ineffective, short term expenses.

A financial plan gives you peace of mind in the short term, and confidence for the long term.

For more information about Professional Financial Planning, or 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.

Source :

http://www.nerdwallet.com/finance/question/what-are-the-benefits-of-having-professional-financial-advice-16

Information About Estate Planning

Monday, October 7th, 2013

Estate planning, by definition, is the process of managing and preserving your assets while you are living to conserve and control their distribution after your death. And, as you can imagine, each estate plan varies from individual to individual. Your age, health, wealth, lifestyle, life stage, goals, and many other factors determine your particular estate planning needs.

Below you will find estate-planning outlines for broad groups or individuals

Over 18 Years of Age

All adults should have the following:

  • A durable power of attorney: This allows you to select someone to manage your estate in the event that you become unable to do so.
  • An advanced medical directive: These come in three different types. (1) a living will, (2) a durable power of attorney for health care, and (3) a Do Not Resuscitate order.

Young and Single

  • A will: Without a will, your property would go to your parents

Unmarried Couples

  • A will: This is essential for any unmarried couple. Without a will, state law directs that only your closest relatives will inherit your property, and your partner may get nothing.

Married Couples

A new law passed in 2010 allows the executor of a deceased spouse’s estate to transfer any unused estate tax exclusion amount to the surviving spouse without the creation of a credit shelter trust. Still, credit shelter trusts have many advantages, including:

  • Portability may be lost if the surviving spouse remarries and is later widowed again
  • The trust can protect any appreciation of assets from estate tax at the second spouse’s death
  • The trust can provide protection of assets from the reach of the surviving spouse’s creditors
  • Portability does not apply to the generation-skipping transfer (GST) tax, so the trust may be needed to fully leverage the GST exemptions of both spouses
  • Portability will expire in 2013 unless Congress enacts further legislation

If you have any questions about what you have just read, or if you would like to know more about Estate Planning 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.

It’s Never too Early to Start Planning for the Future

Tuesday, July 30th, 2013

For many people, retirement seems a thing of the inconceivable future, as distant and unreachable as the most faraway and remote destinations in the world. Twenty- and thirty-somethings in particular, for whom retirement has not yet become an all too looming reality, can quickly turn into negligent savers, putting planning for the future on hold and getting back on the line only when old age factors into the equation.

But planning for retirement is like training a puppy: the sooner you start, the better, and the more long-term rewards you’ll have down the road, even if it’s a difficult process in the beginning.

More and more, young people are forgoing 401(k)s and IRAs in favor of spending their money elsewhere: maybe they have student loans to pay off or feel like they’re struggling to make the rent from month to month. The problem is, it’s easy to get caught in a cycle of making excuses about putting money away, and the reality is that it might never seem like you have a dispensable income, free to be subjected to your whims of saving and spending at any given time.

That’s why it’s important to make saving for retirement a habit, and one that’s developed as early on as possible. When you’re still young, you can invest a relatively small amount for a short time annually and still produce impressive savings, whereas someone older with more money who invests over a longer period will produce less in the long run.

Starting the saving process can seem a bit daunting, though, and understanding the best investment plan for your lifestyle can be tricky, which is why Safe Retirement Solutions has a team of experienced professionals who will consult with you and help you devise a course of action.

Don’t let your youth hold you back: starting early is your best bet for peace of mind as you mature in years. To schedule a complementary consultation with one of our expert advisers, please click here and visit our website, or call us at 877-268-4086. Remember: Safe Retirement Solution’s financial advisers are here to help you along any step of the way in planning for your future.

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

Sources:

Retirement planning for 20-somethings

 

Estate Planning in Baltimore: A Brief Overview

Wednesday, May 1st, 2013

Estate planning is one of the most important parts of planning for the unexpected. Many people procrastinate about the decisions that need to be made about their estate and if one is unprepared, your beneficiaries may feel disenfranchised when it comes time to deal with your estate.

According to the National Association of Estate Planners & Councils, more than 120 million Americans do not have up-to-date estate plans to protect themselves or their families in the event of sickness, accidents, or death.

By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are.

Your age, health, wealth, lifestyle, life stage, goals, and many other factors determine your particular estate planning needs. For example, you may have a small estate and may be concerned only that certain people receive particular things. A simple will is probably all you’ll need. Or, you may have a large estate, and minimizing any potential estate tax impact is your foremost goal. Here, you’ll need to use more sophisticated techniques in your estate plan, such as a trust.

Here are a few estate planning tips from Safe Retirement Solutions:

  • Prepare a will – If you don’t prepare a will, the laws that govern your domicile will determine who inherits what. This is important for non-financial resources such as your prized possessions that relatives may want. Making a will can ensure that your possessions get inherited by the correct people.
  • Create a trust – A trust will make sure that your funds are allocated to cover specific expenses after you’ve passed on. Expenses such as funeral costs, school loans, house payments and any other bills that are overdue can be adequately planned and paid for using a trust.
  • Minimize the impact of Estate & Income Taxes – Using tax-efficient strategies can help curb the costs of estate and income taxes. Strategies such as giving your saved-up wealth as a gift to beneficiaries or leaving your taxable assets to charities are both great ways to minimize the effects of these taxes. Talking with your local Annapolis estate planning professionals at Safe Retirement Solutions can help you figure out ways to avoid heavy taxes.

 

If you’re ready to plan your estate, 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. The Baltimore financial advisors at Safe Retirement Solutions can help you determine what steps to take to make sure your estate is properly taken care of, and provide alternative retirement savings guidance. To get started, call 877-268-4086 or visit our website today!

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A Deeper Look into a Roth IRA :: Financial Planning :: Retirement Planning

Thursday, May 10th, 2012

What is a Roth IRA?

Introduced in 1998, the Roth IRA was named after Senator William Roth Jr. of Delaware, the chief sponsor of this new financial planning tool.

What is the Difference Between a Roth IRA and a Traditional IRA?

Unlike a traditional IRA, Roth IRAs are funded with after-tax dollars and accumulate tax-free. This type of IRA also has no restrictions governing when you are allowed to start taking distributions.

What are the Advantages of a Roth IRA?

  • Contributions to a Roth IRA can be withdrawn tax-free and penalty-free at any time.
  • No required minimum distribution (RMD) during the owner’s lifetime.
  • A spousal beneficiary can roll over an inherited Roth IRA and continue to defer withdrawals.
  • As long as the taxpayer is earning some type of compensation or receiving alimony, contributions can continue to a Roth IRA past the age of 70 ½.
  • And more!

What are the Disadvantages of a Roth IRA?

  • Earnings can be withdrawn tax-free and penalty-free only after the Roth IRA has existed for five years and any of the following: the taxpayer has reached age 591/2, is disabled, died, or is withdrawing up to $10,000 to purchase a first home.
  • There are RMDs required after the Roth IRA owner dies, but only for non-spouse beneficiaries.
  • Contributions are not tax-deductible.

What are my IRA Options?

This is where a Safe Retirement Solutions can help! Our full service, independent financial advisory firm is dedicated to providing you with the very best in retirement income planning.

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.

For more information about Roth IRAs, 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.

Sources:

Roth IRAs