Having a variety of goals may involve decisions about whether to prioritize building a sufficient emergency fund, saving for retirement, or paying off debt, such as a mortgage or student loans.
Health Savings Accounts (HSAs) pack more tax-planning punch than you might guess at a glance. Being triple tax-free and seeing we still need to be saving for significant medical expenses in our old age despite Medicare, HSAs should be part of your planning now.
Listen to Jeffrey Levine, Buckingham’s Director of Advanced Planning, who also happens to be one of the financial and tax minds that the entire country turns to in order to better understand the impact that the new national stimulus package will have on you personally.
Even if you’ve created durable wealth for a desirable transition, what else can you do to secure your second-act lifestyle? You have always had great success in your professional life. You need to know not only how to build wealth, but how to maximize wealth for the “retirement” you envision.
Traditional tax planning has always focused on deferring income as long as possible. This may be the year to end such deferrals and take advantage of the low 2020 tax rates to recognize income.
The financial services industry makes it complicated for consumers to choose the right advisor and model. So how do you source and vet out the right advisor for you? Before placing your financial future in the hands of someone else, make sure you do your due diligence on them and their model well in advance.