Is It Time? Do I Need a Financial Advisor?

In the 21st century, endless information is accessible in the palm of our hands. With a few clicks, we can find the basic information we need to make financial decisions quickly and easily.

But for some of us, basic information is not enough. Additionally, we tend to have limited amounts of time for researching, implementing, and monitoring financial decisions. If you find yourself thinking about some of the topics below, it could be the right time to seek focused input.


Navigating Job TransitionExecutive level benefits often bring a financial windfall.  They are also more specific and complex than the benefits provided to the rest of the company.  Maximizing and keeping those benefits, including post-employment, involves a series of careful and informed choices to meet an executive’s individualized needs.


Maximizing Tax Efficiency in Retirement SavingsParticipating in employer retirement plans is the easiest way to save for retirement. But storing too much wealth in those types of plans can have significant tax implications later.  As greater wealth is accumulated, diversifying account type can be as equally important as diversifying investments.


Strategizing College Planning — 529 accounts are a fantastic tool to help families save for college in a tax efficient way.  Owned incorrectly, and they can limit a family’s ability to utilize other federal programs later.  Alternative strategies beyond a 529 account can sometimes be a better fit for affluent families.


Protecting Against Unforeseen Risks — Evaluating, reviewing, and keeping current with insurance options can be an overwhelming task.  Many young families elect their basic employer coverage by default but may not stop to think about all life changing scenarios, such as: what happens if they’re in a debilitating accident, suffer an illness, or lose their job. Additionally, finding yourself in a position where you are forced to care for aging parents and your children, at the same time, can be extremely emotionally and financially draining. Taking the time to thoroughly evaluate all risks and risk mitigation tools can be essential.


Transferring Wealth to Heirs — The only constant in estate law is that the laws are constantly changing.  Families that begin to accumulate significant assets can find themselves thrust into an estate tax dilemma when their main goal was to pass along the wealth they worked hard for.


Sharing Wealth with Charity — Getting the full tax-benefit from your charitable contributions depends on the charities you choose. You can typically deduct up to 50% of your income for charitable deductions and 30% for some private foundations.  There are other planning techniques that when implemented properly can help you achieve maximum leverage and tax efficiency on your charitable giving.


The different considerations that need to be made for each of these items can be wide-ranging.  If you have questions or would like to discuss your specific situation in more detail, please do not hesitate to contact us using the form below.


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