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Retirement planning isn’t just about fueling up for the flight to that dream destination. A lot of my clients at Keen Wealth also want to plan the most tax-efficient and responsible ways to set aside resources now that will support their kids and grandkids as they get started on their financial journey. That may mean a college education, buying a first home, or even giving them a head start on their retirement planning.
If you have investments of any kind you know there are costs associated with owning those investments. In addition, if you’ve been thinking about working with a financial advisor, you also know you’ll pay him or her a separate fee for their ongoing counsel. The bottom line question you should be asking is this: Will I be better off, net of fees, by working with an advisor than if I try to navigate my planning and investing on my own?
Imagine getting on an airplane for a dream vacation that you’ve been saving and planning for your entire life. Just as you’re settling into your seat, there’s an announcement from the captain: “Ladies and gentlemen, we’ve completed our pre-flight check, but I didn’t worry about the required fuel this time. If we end up being short, hopefully we will catch a tailwind that will get us to our destination. Should be fine.”
If your household is anything like mine, couples often divvy up jobs and responsibilities to make sure everything gets done, and everyone’s needs are met. Maybe one spouse works, and the other takes care of the kids. Maybe one spouse handles the meals, and the other handles transportation to lessons and practices. Maybe one spouse takes care of the yard, and the other takes care of home repairs.
Tax season may – finally! – be behind us, but taxes are still very much on the minds of our listeners, and my clients at Keen Wealth. President Trump recently unveiled a new tax plan, the consequences of which are still being unpacked and analyzed. And changing taxes is just one part of the broader Trump economic plan that the president and Congress are trying to convert from campaign promises into actual legislation.
We all want to thrive in life, and being healthy physically and emotionally is a huge first step. An important issue that often gets overshadowed by other wellness concerns is how we deal with the stresses in our lives.