Bernath + Rosenberg

Preparing for your child's future starts with investing in their education. Setting up an education savings plan, like a 529, early on can offer major tax benefits and allow your savings to grow over time. The best part? Contributions grow tax-free, and qualified withdrawals for education expenses are also tax-free. In addition to savings, don’t forget to explore scholarships, grants, and financial aid options to help reduce the overall cost of education.

Long-term care is something many of us avoid discussing, but the reality is, most people will need it at some point in their lives. Did you know that 70% of seniors over the age of 65 will require some form of custodial care? And for many, that care lasts years, not just months. Unfortunately, long-term care can be extremely costly, with expenses ranging from $100,000 to $200,000 per year, depending on the level of care required. So how do you prepare? Self-funding long-term care can quickly drain your savings, especially when life expectancy is increasing. That’s why many individuals are turning to long-term care insurance or hybrid policies, which combine custodial care coverage with life insurance benefits. These policies act as a safety net and help preserve your wealth for your family or other financial goals. Learn more about how to plan for long-term care and protect your assets: https://lnkd.in/eBEG5hjb

Social Security benefits are a key element of retirement income. Learn how our strategies can help you maximize them and get the most out of what you’ve earned.

A Financial Planner invited a small group of clients to his office one evening for a special seminar. He placed a glass jar on the table and then held up a handful of large rocks. Carefully, he placed each rock into the jar until no more could fit. He looked at the group and asked, “Is this jar full?” One client nodded. “Yes, it looks full.” The planner smiled and reached under the table to pull out a bag of pebbles. He poured them into the jar, shaking it slightly so the smaller pebbles filled the spaces between the rocks. “How about now?” he asked. The group chuckled, realizing the jar had more room than they’d thought. “Now it’s full,” another client ventured. The planner nodded but then brought out a container of sand. He poured the sand into the jar, allowing it to fill in the tiny gaps between the pebbles and rocks. “And now?” Everyone laughed, knowing where this was headed. But the planner wasn’t finished. He picked up a pitcher of water and slowly poured it into the jar until it brimmed. “Now it’s truly full,” he said, setting down the pitcher. He looked at the group and explained, “This jar is like your financial life. The big rocks are the most important parts: retirement, family needs, home, and health. These things have to go into your financial plan first because they’re essential and need the most attention and resources.” “The pebbles are important too, like saving for college or a family vacation. They’re priorities but smaller than the big rocks.” “The sand represents smaller expenses—things that add up but aren’t crucial to your long-term financial health. And finally, the water stands for the unexpected, the things we didn’t plan for but inevitably come up.” He paused, looking around the room. “If you fill your jar with sand and water first, there’s no room for the big rocks. This is why we start with the essentials in financial planning. When you prioritize the biggest needs first, there’s still space for everything else, even the little things that bring you joy or the unexpected expenses that pop up.” The clients left that evening with a clear vision: focus on the big rocks first, and the rest will find its place. The lesson resonated deeply, helping them see financial planning not just as managing money but as creating space for what mattered most.

Are you looking to minimize your tax burden while maximizing your wealth? At Bernath + Rosenberg, we specialize in crafting tailored financial strategies that align with your unique goals and aspirations. Our experienced team will help you navigate complex tax laws and identify opportunities for growth. During your complimentary consultation, we will conduct a comprehensive assessment of your financial situation, allowing us to design a personalized plan that works for you. Take the first step toward safeguarding your financial future—schedule your consultation today: https://lnkd.in/evmTFEkV

Let’s talk about budgeting—it’s one of the most impactful tools for long-term financial stability. When you take the time to consistently review and adjust your budget, you get a clear picture of where your money is going. By tracking your income and expenses, you’ll spot areas where you can save more or cut unnecessary costs. It’s not just about limiting spending but finding ways to put those dollars to work for you—whether that’s increasing savings, paying off debt, or investing. A well-managed budget gives you control over your financial future and helps you reach your goals with more confidence. Have you had a chance to review your budget lately? It's never too late to start!

We are looking forward to seeing everyone next week!

Discover how effective tax planning can work alongside wealth-building strategies to set you on the path to prosperity. Our complimentary guide offers valuable insights and actionable tips to help you optimize your tax situation and enhance your overall wealth. Don’t leave your financial success to chance! Start crafting a brighter tomorrow by downloading our guide today. Visit the link to get started! ?? Download Your Wealth Plan Now: https://lnkd.in/e_3dcDEa

A well-diversified investment portfolio is key to weathering market volatility and gaining steady growth over time. By spreading your investments across different asset classes, such as stocks, bonds, and real estate, you reduce the risk of any single downturn derailing your financial progress. Diversification isn't just about protection—it's about maximizing your wealth potential while managing risk.

The Medicare Annual Enrollment Period (AEP) is here now, and it’s the perfect time to make sure you have the right health coverage for the upcoming year. Whether you're satisfied with your current plan or looking to make changes, now is the time to act. During AEP, you can: ? Switch between Original Medicare and Medicare Advantage. ? Add or change your Part D prescription drug plan. ? Adjust your existing coverage to better suit your evolving healthcare needs. By reviewing your Medicare options, you can ensure that your plan provides the right balance of coverage and cost savings. Don’t wait until it’s too late—take control of your healthcare and explore all your options before the enrollment period ends.