Groundbreaking Real Estate, LLC

Will Social Security run out? I don’t know the answer, so I tend to build my retirement plan without SS in consideration. Here are the facts: ?? Concerns have been raised about the aging U.S. population and the sustainability of a system where fewer active workers support more retirees, especially with rising living costs. ?? The Social Security Board of Trustees 2024 report forecasts that the retirement fund (OASI Trust Fund) will be depleted by 2033, only able to pay 79% of benefits thereafter. The Hospital Insurance (HI) Trust Fund for Medicare Part A is expected to be depleted by 2036, covering 89% of benefits after that. ?? To address these shortfalls, Congress will have to find ways to fill the gap. This could involve raising taxes on workers, reducing benefits, increasing the retirement age, or implementing a combination of these measures. #SocialSecurity #RetirementPlan #Retirement

Today, we express our gratitude to all the incredible men and women who have served our country with courage and dedication. Thank you for your service, sacrifices, and unwavering commitment. We honor you today and every day. ?????? #VeteransDay #HonorOurHeroes

Planning for your retirement? ?? Both Roth IRAs and Traditional IRAs offer excellent investment options, but choosing the right one depends on a key factor—your future income and tax bracket. ? Roth IRA: Think your income and tax bracket will be higher in retirement? A Roth IRA might be the better choice for you. Pay taxes now at a lower rate and withdraw funds tax-free later when your tax bracket is higher. Plus, Roth IRAs offer the flexibility of no required minimum distributions giving you more control over your savings. ? Traditional IRA: A Traditional IRA could make more sense if you expect to be in a lower tax bracket after you retire. You’ll enjoy tax deductions now when your earnings are higher and pay taxes later at a lower rate when you make withdrawals. Traditional IRAs also allow you to defer taxes, maximizing your savings today. ?? Don’t forget! Your retirement income may not be as low as you think. Social Security benefits, investment income, and even freelance or consulting work could keep your taxable income steady or even increase it. And once the kids leave and you're no longer contributing to retirement funds, you lose valuable deductions. ?? Pro tip: Consider your future lifestyle, income sources, and tax obligations when choosing the best IRA for you. ?? What’s your strategy for retirement? Comment below! #RetirementPlanning #RothIRA #TraditionalIRA

I rented different homes for nearly 25 years before buying our first home. Instead of building equity through homeownership, we used our money to invest in rental properties. ?? Whether to rent or own depends on your personal situation—finances, lifestyle, and goals. There’s certainly pride and comfort that comes with owning a home, but does it make economic sense for you? ?? Buying a home too early in life could be a costly mistake. Do you prefer to own or rent? Let me know in the comments! ?? #RentVsBuy #RealEstateInvesting #FinancialFreedom #PropertyInvestment

Do you have a clear vision of what your future looks like? ?? Kiyosaki’s mindset on vision: ?????? Sight is seeing with our eyes, while vision goes beyond perception to imagining and conceptualizing possibilities. ?????? Sight is confined to the present, but vision enables us to anticipate and plan for the future. A clear vision empowers us to create a focused path toward our goals and make decisions that support long-term aspirations. Developing vision and nurturing a forward-thinking mindset allow us to realize our full potential and achieve success in both personal and professional life. ?? ?? Share your vision in the comments! ?? #RichDadPoorDad #GoalSetting #FinancialPlanning

Don’t rob your future self! It’s easy to let spending habits spiral out of control, draining your future wealth. ????♀? If you’re not saving enough for retirement, the issue might be your spending, not your income. It could be time to reduce expenses significantly. Cutting back can be challenging when you're used to a certain lifestyle, but ask yourself: what expenses aren’t essential? Changing your mindset is key to trimming costs. ?? And while debt is common, prioritize paying off high-interest debt, like credit cards, as fast as possible. What are your thoughts? Share in the comments! ?? #WealthBuilding #MoneyManagement #RetirementPlanning #FinancialGoals #MindsetMatters

?? Did you know your HSA can do more than cover immediate medical costs? By investing part of your HSA balance in various market funds, you can: ? Boost financial growth ? Build long-term savings ? Strengthen retirement plans Don’t just save—invest for a brighter, healthier future! ??? #HSA #FinancialGrowth #RetirementPlanning

Retirement planning is essential for securing a comfortable and fulfilling future. With rising life expectancy and increasing living costs, it is a must to navigate retirement planning with careful consideration. The process can be daunting, making it crucial to avoid common mistakes. One of the most significant financial decisions you'll make is deciding how to manage your retirement plan. After dedicating most of your working life to saving it, your plan may need to support you for over 30 years. It's essential to make well-informed decisions that align with your personal circumstances. What other big retirement plan mistakes do you know? ?? #RetirementPlanning #FinancialDecisions #RetirementGoals

Tracking your net worth is crucial in determining whether you are meeting your retirement goals. Net worth is a true measure of wealth, as it accounts for both assets and liabilities. Simply looking at assets can be misleading due to offsetting debts. ?? Net worth is calculated by subtracting total liabilities from total assets, including investments, savings, and equity in homes or cars, while liabilities include debts like mortgages, student loans, and credit card debts. A "good" net worth varies based on individual circumstances, age, and lifestyle. A key milestone for many is to have at least $1 million in net worth by retirement. However, with inflation and more expensive lifestyles, this might not be enough for some families. ?? #RetirementGoals #FinancialMilestone #NetWorth

Welcome to the September edition of?Fast?Five?from Groundbreaking Real Estate! This month we're talking about decreased interest rates, how to buy things for free, and the value of a good property manager. I'm also excited to share with you our newest free investment tool, the?Investment Portfolio Calculator. Give it a try and let me know what you think!