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And once people understand the areas that they need to focus on, and they understand the best practices that they need to make sure that their portfolio is having, they get a sense of peace, right? There’s a peace of mind that comes with having a thorough plan. And that’s
I mean, you know, typically the people that are coming into our office are wanting to make sure, you know, as they get closer and closer to that retirement date, that they’re invested properly, right. So, they want to continue to make adjustments to make sure if we saw that
And it’s something that we adhere to pretty much on point that secure money advisors, basically what it means is you take your age, so if you’re 60 years old, 60% of your money should be safer, more conservative 40%, you want for more aggressive, more risk for long-term growth.
But a lot of people that I’m dealing with are saying I’d rather deal with the known tax rate right now than what the future holds and the potential increase in taxes. So, getting money to a Roth and allowing it time to accumulate, I think can always be a
And inheriting money can be a big taxable event, if not managed correctly. So, it’s important that you really understand the tax implications of where to transfer that money to, to maximize your situation. That’s the first step. Taxation is always the first step, deploying it, whether it be investments
And this is where things like the rule of 100 come into play. So, this is where we take 100 minus your age. So, if you’re 60 years old, we take 100 minus 60, which equals 40, 60% of your money should be protected, right, we don’t want a lot
Okay, well, just taking money out is not a plan, we have a withdrawal rate, is there a certain rate of return we’re trying to achieve? How much income are we going to need? What are we going to pay in taxes? Do you have Roth IRA money, traditional IRA
I think people are always very surprised with how much risk they really are taking. You know, a lot of people think they’re a lot more conservative than what they are, we’ll hear a lot of times that the markets have been doing well, but they haven’t been getting the
Yeah, well, you know, the biggest eroder of your wealth is going to be taxes and inflation, you know, and I actually printed off some inflation numbers before we even started the show. And I can’t believe what I looked at car rentals are up 87% on the year, gas
