Blog Archives - Paces Ferry Wealth Advisors

Inflation and Retirement: Better Preserve Your Purchasing Power Post-Retirement

Written by Jeff Diamond, AIF® on April 8, 2024.

Discover how to better protect your financial stability from inflation in retirement and better preserving your savings' purchasing power.

Retirement planning often centers around accumulating enough assets to enjoy a comfortable and secure lifestyle. However, one critical factor that can erode the value of these carefully saved funds is inflation. Inflation, the rate at which the general level of prices for goods and services rises, erodes purchasing power over time. For retirees, who typically rely on a fixed income, the impact of inflation can be significant, making it essential to develop strategies to protect against this diminishment of purchasing power in their golden years. Below, we’ll discuss this challenge, as well as strategies you may use to better protect your financial security.

Managing Healthcare Costs in Retirement: Strategies for Long-Term Health Planning

Written by Zachary Morris, CFP® on March 25, 2024.

Ready to tackle long-term care planning for your retirement? Learn some strategies to better manage healthcare costs.

Five Strategies to Help Round Out Your Retirement Planning

As retirement approaches, one of the most significant concerns for many is managing healthcare costs, especially as healthcare costs continue to rise. While this can seem like a daunting task, having an effective plan in place for these expenses can help boost your retirement strategy and make you feel more prepared. If you’re worried about your long-term care planning, below are five strategies that you may want to consider to help you manage healthcare costs.

Succession Planning: Preparing Your Business for Retirement Transition

Written by Jeff Diamond, AIF® on March 11, 2024.

Business succession planning is about preparing for a smooth transfer of ownership and continued operations after you retire.

Tips to Plan for the Continuity of Your Company After Your Retirement

You’ve invested years into your small business – maybe even a lifetime – and yet the time will come when you may consider retirement, whether from necessity or desire. Crafting a business succession plan now may help you prepare the company for a smooth transition to new management or ownership when the time comes. Succession planning can also help you prepare for unforeseen circumstances, so developing a clear succession strategy may be an important step in keeping the business you’ve built thriving for years to come. Below, we’ll discuss some common key elements of succession planning that you might consider as you think about the future.

Planning for the Future Together: Retirement Savings Tips for Couples

Written by Zachary Morris, CFP® on February 20, 2024.

Elevate your retirement journey together! Explore ten retirement savings tips for couples for a more worry-free financial future.

Ten Tips for Navigating Retirement Planning as a Team

Retirement is a big deal, isn’t it? It’s a time we all look forward to, but getting there, especially with your partner by your side, requires some thoughtful planning and a good bit of teamwork. When you’re managing money together, you’re bound to run into both opportunities and challenges unique to being a duo. It’s really about keeping an eye on what you both want out of your finances and lifestyle as you navigate this planning journey side by side. Whether you’re just starting to talk about retirement or you’re further down the road, here are ten retirement savings tips for couples to consider.

Exploring Trusts for Wealth Preservation after Retirement

Written by Zachary Morris, CFP® on February 15, 2024.

Learn how trusts might be utilized for wealth preservation and consider their role in estate planning.

Understanding Trusts as a Potentially Strategic Component of Retirement Planning

Retirement planning is more than just a task; it’s a strategic approach that may help to achieve a stable future. It’s not merely about accumulating savings but about making informed decisions that position you well for the years beyond active employment. In the financial planning landscape, the concept of trusts has emerged as a potent tool for estate planning and wealth preservation. This article sheds light on how integrating trusts into your financial strategy could enhance your retirement planning, offering the potential for a blend of security and foresight for your golden years.

Starting Your Year Clear: Consider a New Approach to Achieving Your Retirement Goals

Written by Jeff Diamond, AIF® on January 8, 2024.

Approaching your retirement goals in a holistic way means you can set the state for financial security and fulfillment, too.

Does Your Current Approach to Financial Planning Match Your Aspirations?

While it’s always smart to be thinking ahead about your retirement goals, the beginning of a new year offers an opportune time. This is because many of us are feeling motivated about the fresh start and potential opportunity a new year brings. So, as you consider your retirement goals and plans, ask yourself whether your current approach aligns with your aspirations. In this article, we’ll share helpful perspectives and strategic considerations that can help you gain clarity and purpose for your retirement strategy so that you can achieve more toward your goals this year.

Wealth-Building Habits to Start the New Year Strong

Written by Jeff Diamond, AIF® on December 18, 2023.

It takes discipline to identify and implement wealth-building habits, but your future self may thank you.

Help Secure Your Financial Future and Find Peace of Mind

Building wealth is a goal for many – and one that you may be considering as the New Year dawns. In the vast majority of cases, it doesn’t happen overnight. You might think that you need an above-average income or a significant inheritance to build wealth, but in reality, the process starts with small but meaningful wealth-building habits. It takes discipline and patience to build your wealth, but the sooner you start, the sooner you can reap the benefits. With the wealth-building habits discussed below, you can find yourself on the way to greater possible financial freedom.

Life Transition Planning: Do You Need a Financial Advisor in the New Year?

Written by Zachary Morris, CFP® on December 4, 2023.

A professional financial advisor can assist with life transition planning to help you settle your finances.

Navigating Your Wealth Through Times of Change

If there’s one thing that serves as a constant throughout our lives, it’s change. Leaving home, beginning a career, getting married, building a family, navigating career transitions, divorce, and loss of loved ones are just a few examples of events that mark periods of great adjustment. These life transitions impact us emotionally, but also financially, and it’s smart to have a trusted financial advisor by your side to help you navigate the practical financial aspects of these different phases of life. If you think the New Year will bring a time of change and evolution in your life, it might be the perfect time to begin working with a professional you trust. In this article, we’ll discuss life transition planning for five specific, common scenarios and share how a financial advisor can offer guidance.

Four Financial Strategies for Empty Nesters

Written by Jeff Diamond, AIF® on November 27, 2023.

Your financial situation changes when the kids leave home, so discover helpful empty nester financial strategies you can use.

Plan for the Next Chapter with Practical Money Moves

You’ve successfully launched your adult kids out into the world – congratulations! This can be a time of mixed emotions – pride and excitement on one hand, and feelings of sadness on the other – but it’s also important to consider your financial plan for this new phase. What should your priorities be? What are your financial goals for this phase of life and how will you reach them? In the article below, we share practical empty-nester financial strategies that can help you navigate this transition and continue moving forward to clarify and accomplish your financial aspirations.

Year-End Charitable Giving: 5 Strategies to Know

Written by Jeff Diamond, AIF® on November 6, 2023.

Year-end charitable giving could be a great way to reduce your tax liability while making a difference in others’ lives.

Support Your Favorite Charities While Potentially Reaping Tax Benefits

Taxes are an unfortunate fact of life. However, if you develop a strategy to reduce your total taxable income, you may see a marked decrease in the amount you owe each year – which can be a welcome outcome as we approach the holiday season and begin spending more on gifts, travel, and entertaining. If you’re hoping to reduce your taxable income this year, you might be happy to hear that you can enjoy possible tax benefits while also making a positive difference in other people’s lives. To do so, you need to select the right year-end charitable giving strategy. Read on for five such strategies that may fit your needs, both from a philanthropic standpoint and as smart tax planning.