Sachetta

Retirement planning is essential for business owners, who often focus their resources on growing their companies rather than personal investments. Unlike employees with employer-sponsored plans, business owners must proactively create their own retirement strategies. Relying solely on selling your business for retirement can be risky, so it's crucial to diversify your savings. Options like SEP IRAs, SIMPLE IRAs, and Solo 401(k)s offer flexibility and tax advantages. Retirement planning not only ensures financial independence but also helps with business succession and tax efficiency. Start early to secure your future and develop an exit strategy for long-term stability. #RetirementPlanning #FinancialStability https://hubs.la/Q02RVbjW0

Rising health care costs are becoming a significant challenge for retirees. The average retiree at age 65 may need about $165,000 just to cover health care expenses during retirement. While Medicare can provide some relief, it doesn't cover everything, and future retirees should be proactive in their financial planning. Regularly reviewing and adjusting your retirement plan is crucial to ensure you can meet these increasing costs and maintain your financial security in retirement. #RetirementPlanning #Healthcare https://bit.ly/3X15RYq

Retirement planning often brings both excitement and anxiety. Achieving a comfortable retirement requires more than just saving—it demands strategic planning and awareness of common mistakes, like not contributing enough to their retirement accounts for example. Understanding these pitfalls and planning proactively can help ensure a more secure and fulfilling retirement. Engaging with a financial advisor can provide valuable guidance and tailor a strategy to meet individual goals. #RetirementPlanning #FinancialPlanning https://bit.ly/3Z0dQaR

As 2024 progresses, there are several key financial planning trends to stay on top of, including notable stock market volatility, the impact of high interest rates on consumer behavior and housing, and the use of AI making sophisticated tools more accessible and user-friendly. It can be beneficial to stay updated on these trends and to understand their influence on your financial planning. #FinancialPlanning #FinancialGoals https://yhoo.it/474TAqB

Whether you’re planning for retirement and beyond, want to provide for loved ones after your passing, or want to support organizations that are meaningful to you, it’s never too soon to start thinking about wealth preservation. Joe Sachetta shares key components to consider to protect your wealth and achieve your goals. https://hubs.la/Q02NnHSY0

Millenial investors are unique from previous generations. In this piece, Nick Forgione suggests questions for millennials to consider when it comes to investment planning that will help them make informed investment decisions. https://hubs.la/Q02NnVGR0

Navigating the costs of long-term care can be a significant financial challenge. For many, private insurance isn't an option due to high costs or limited coverage. As a result, self-funding often becomes a common strategy. This approach requires careful financial planning and adjusting your investment strategies based on your age and anticipated care needs. If you're in a similar situation, it's essential to anticipate tax implications and explore all financial options, such as using home equity or downsizing. Consulting with a financial advisor specializing in long-term care can help you tailor a plan that suits your specific needs and circumstances. #LongTermCare #FinancialPlanning https://bit.ly/4dfSZUF

Transamerica Center for Retirement Studies? recently surveyed Americans over 50. Their findings show that fewer than one in four people surveyed feel confident about maintaining a comfortable retirement, and over 50% fear outliving their savings. Many people reported worrying about reductions in Social Security benefits. The survey highlights the importance of rigorous retirement planning and seeking professional financial advice to avoid common mistakes and ensure financial stability. #RetirementPlanning #FinancialPlanning https://bit.ly/3LFRIut

If you’re a business owner, it’s important to know changes to the federal gift and estate tax exemption are expected by 2026, potentially affecting estates valued over $7 million per individual. Planning now with strategies like SLATs, GRATs, and Installment Sales may help protect your assets from potential tax increases. For personalized guidance tailored to your specific situation, it will be important to consult with an estate planning advisor. #EstatePlanning #TaxPlanning #BusinessOwners https://bit.ly/3ycDWwm

Comprehensive financial planning can benefit couples at various stages of their relationship, from new and engaged couples to those who are married. Jeffrey Aron shares his insights to help couples align their financial philosophies and effectively manage their finances together. https://hubs.la/Q02K0Mrt0