Do you find yourself wondering if you’re on track to meet your retirement goals? Are you saving diligently but still unsure whether it’s enough? A valuable benchmark to help you answer these questions is your net worth: that is, the number you’re left with when you add up your cash and other financial assets and subtract all your debts.
Everyone strives to be successful in their careers. You may spend long hours working hard to ensure the success of the company you work for or the one you’ve created. Success, however, is not only about what you produce at work and what you earn from that. Giving time to establish goals for your financial future will help you maintain financial security for the long-term.
The 2017 Tax Cuts and Jobs Act (TCJA) was the most sweeping tax legislation since the 1986 Tax Reform Act was signed into law. The Tax Cuts and Jobs Act made small changes to personal income taxes and significantly reduces income tax for corporations. It also increased alternative minimum tax (AMT) and estate tax exemptions. New tax deductions for owners of pass-through entities and changes to the taxation of foreign income were also part of TCJA. For investors, Opportunity Funds promote investing in low-income designated areas, called Opportunity Zones, by offering federal tax advantages.
If you have been contributing consistently to your retirement plan, then you are already on your path to a secure retirement. But are you doing everything you can to build your retirement nest egg? Capitalizing on your company retirement benefits package now can help to make your retirement that much more care-free. Here are five tips to help you build your financial future.
Whether you have heard the phrase lifestyle creep or not, the odds are good that you have experienced it either first-hand or indirectly. Another word for it is lifestyle inflation. As you make more money, your apartment or house gets a little bigger, your furniture gets nicer, and dining out becomes more frequent. Then you meet someone special and your family grows from one person to two and then comes baby and…another baby and so on and so forth. The house needs to accommodate more people, the cars need to be safer and nicer and larger.
Recently, as Impact Investing has gained more attention in the investment world, we have received a number of questions from clients and prospective clients about what it is, whether it is a viable strategy, how it can be implemented into an existing investment strategy and whether we currently offer impact investing strategies to our clients. Given the frequency of these questions, we wanted to share this article to shed some light on the subject.
It should be made clear that we do not currently have a specific strategy dedicated to impact investing and it is not commonly a mitigating factor in the manner in which we make our investment decisions as a fiduciary to our clients. If in the future, there comes a demand for such a strategy, then we will consider incorporating impact investing and the values behind it into our portfolios.
Like the horizon line, retirement was always in view but seemingly far away. Now, that endpoint may be looking a lot closer and more real. Retirement is moving from a someday category to an in less than a decade category and you may find yourself panicking. For years you dutifully looked over your employer match paperwork, checked your savings balances, and maybe even had a financial advisor to help you out. But now the finish line is in sight and you may worry that you are not where you need to be. In this article, we will go over some checklist items to look over to get you on track and restore that peace of mind.