Trinitas Wealth Partners

?? Friendly Reminder: Tax Day Approaching ?? With Tax Day fast approaching, it's essential to ensure you're well-prepared. Here are some key financial planning tips to consider: ?? Gather all necessary documents. ?? Maximize retirement contributions. ?? Review investment gains and losses. ?? Don't forget deductions and credits. ?? Consider tax-efficient investing strategies, including Roth conversions. Remember, these are general tips. Always consult your tax professional for personalized advice. PS: If you lack a personalized, active Financial Plan with a comprehensive strategy to mitigate tax liabilities, both now and in the future, don't delay any longer. In over 300 discovery meetings, every individual and family we've assisted has uncovered invaluable insights for their financial strategy. Even those already working with a financial advisor found our additional perspective indispensable. Don't miss out—seize the opportunity to refine your plan. Schedule your Discovery Call by messaging below ?? and take the first step towards maximizing your financial future TODAY! https://conta.cc/3PZbKCT

Unexpected expenses happen. That's why having an emergency fund is crucial. Aim for 3-6 months of living expenses in a liquid account to weather any storm. ???? #FinancialSecurity #EmergencyFund

Are you wondering how much you need to save for retirement? If $1.2 million feels like too much (or too little), there are some rules of thumb that can help you calculate a more accurate number. ? One popular method is the 70% rule. According to this rule, you’ll need 70% of your pre-retirement household income each year in retirement for 25 years. For example, if your household brings in $150,000 in the year before you retire, then you’ll need $105,000 annually. Multiply that by 25 years and your retirement savings goal would be: $2,625,000. That’s a lot of money! But if you're spending roughly $105,000 each year on your typical household expenses, like food, utilities, insurance, and transportation, it might be accurate. If $2 million is out of reach, you can use a withdrawal rule, like the 4% rule. ? This rule states that you should withdraw only 4% of your retirement savings annually for at most 25 years. For example, if you’ve saved $400,000, this rule would recommend withdrawing only $16,000 per year (not counting pensions and other additional income). The advantage of this rule is that it starts from what you have, rather than what you don’t - so it's a great option if you're looking for a more realistic retirement savings goal! hope this helps. If you need to work out your numbers - feel free to message me and I'll be able to do that for you. #retirement #retirementplanning

Do you agree? “Beware of little expenses; a small leak will sink a great ship.” ~Benjamin Franklin~

Retirement is a reality of life. No matter how active, strong and passionate you feel now about working but at some point you'll need to slow down. Your body, mind and energy will need to slow down and move into a new phase of life. Retirement is no more 'sitting on beach' but is more purpose focused. Questions to ask when calculating how much you need to retire? (very important one) The numbers above will give you a good estimate, but they might not be realistic for you. Depending on your lifestyle and personal income, you might need more than $1.2 million, or you could live comfortably with less. To fine-tune these numbers for yourself, here are some questions you can ask: ?? ? What are my retirement goals? Your retirement lifestyle will profoundly affect how much you need to save. For example, an active retiree, that is someone who travels frequently or engages in various hobbies, will likely need to save more than someone who expects to stay put. ? Will you work in retirement? Second jobs, remote work opportunities, or consulting work might be a way to help bolster your retirement savings. ? Will you live at the same residence? Downsizing, or moving to a less expensive part of your province or territory (such as a rural area or smaller town) could help you spend less and live longer on your retirement savings. ? How much debt will you be carrying? Ideally, you won’t have any debt when you retire. But if you do, you’ll need to factor in how much you’ll pay in overall interest—and how that will affect how much you need to save. ? What expenses will you carry over into retirement? For example, groceries, utilities, entertainment, dining out, and clothing will likely stay the same. ? What expenses will retirement eliminate? Many retirees pay off their mortgage before retirement, in which case you can eliminate a major expense from your budget. Other expenses that could disappear in retirement include commuting for work, life insurance premiums, and saving for retirement. ? What new expenses will retirement likely bring on? While retirement itself doesn’t automatically create new expenses, getting older will. You might pay more for healthcare or long-term care, for instance. ? plus some more... So give it a thought and if you need help, feel free to send me a private message and we can discuss how to best plan for retirement today (not wait) #retirementsavings #retirement #retirementplanning #retirementreadiness #retirementgoals

Financial Freedom Tips ??? Financial freedom is about more than money – it's the ability to live life on your terms. Start small, stay consistent, and celebrate the victories along the way. Cheers to your financial journey! ????

?? New Year, New Financial Goals! ?? As we step into 2024, let's make this year about securing our financial well-being. Here are some simple resolutions to get started: Budgeting Bliss: Craft a realistic budget aligned with your goals. Emergency Fund Essentials: Build a financial safety net for peace of mind. Debt Management: Tackle high-interest debts with a solid plan. Invest in Knowledge: Boost financial literacy for informed decisions. Retirement Readiness: Review and optimize your retirement strategy. And for a helping hand in achieving these goals, Trinitas Wealth Partners is offering complimentary financial planning consultations to kickstart the New Year right! ?? Explore more at www.trinitaswealth.com or schedule your consultation online at https://lnkd.in/e4Dd7du8 Here's to a prosperous and financially fulfilling 2024! ??? #FinancialResolutions #NewYearNewGoals #TrinitasWealthPartners

Happy New Year 2024!

As the year winds down, here's a friendly reminder for those of you in the retirement planning stage. Don't forget about Required Minimum Distributions (RMDs). It's a crucial year-end consideration that ensures your retirement accounts stay on track. Remember, staying informed is a key part of financial well-being! If you have questions or need help deciding how to take your RMD, give us a call 941-212-5871 #RMDs?#YearEndPlanning?#FinancialAwareness