13 Questions a Financial Plan Can Help You Answer (Updated July 2023)
A comprehensive Financial Plan can address any concerns and answer your questions about your financial future - and ultimately set your mind at ease.
A comprehensive Financial Plan can address any concerns and answer your questions about your financial future - and ultimately set your mind at ease.
If your long-term strategy is to reduce debt, I would encourage you to make sure savings are on track (emergency fund, retirement, college, etc.) and other debts have been paid off (credit cards, student loans, automobiles, etc.) before considering reducing your mortgage debt.
Step one is to take action. My hope is that you move your personal finances up the To Do list. Act with a sense of urgency – at least to know where things stand today. Let me encourage you to save NOW for retirement. You need to know your savings rate and have a plan. All the Personal Services we offer are geared toward this.
Did you know you can save up to $66,000 before taxes in a 401K this year? While today’s writing focuses on the Solo 401K as an effective Asset Management tool for Real Estate agents, if you are or might become self-employed this post is for you!
Do you have a backup plan if your Target Retirement funds fall short? After all, these funds aren’t specific to you. They don’t know your goals and dreams. Are you willing to save more money, work more years, or sacrifice other goals?
The Solo 401K is the ideal Retirement Plan for those Independent Contractors looking to maximize long-term Retirement Savings potential, reduce their tax burden to the fullest extent and have flexibility – assuming these are of utmost importance.
