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It’s harder to do today because, you know, if you looked at retirement, you know, in the past, you had a social security check, which was one income stream. You had a pension check, which came in every month, that was a second income stream. And if you needed a
What they’ve come to find out is that that strategy, the 4% rule, actually has a high percentage of failure. Matter of fact, it’s a 56% failure rate. So, think about this. The Wall Street Journal, the Harvard Business School of harvest, Harvard School of Business has come out and
People are investing for growth; people are investing to accumulate dollars. They’re not making the transition to an income strategy, which is completely different than accumulating your dollars and growing your money. And so, it’s one of the most overlooked areas. And I think it’s because for the longest time,
In the Roth portion, the 401k. If I want to pull all $100,000 out, I can do that tax free, if that were to go in the traditional portion, right, if that were to go into the traditional 401k portion, that $15,000 grows to $100,000, I pulled out all of
And once people understand the areas that they need to focus on, and they understand the best practices that they need to make sure that their portfolio is having, they get a sense of peace, right? There’s a peace of mind that comes with having a thorough plan. And that’s
I mean, you know, typically the people that are coming into our office are wanting to make sure, you know, as they get closer and closer to that retirement date, that they’re invested properly, right. So, they want to continue to make adjustments to make sure if we saw that
And it’s something that we adhere to pretty much on point that secure money advisors, basically what it means is you take your age, so if you’re 60 years old, 60% of your money should be safer, more conservative 40%, you want for more aggressive, more risk for long-term growth.
But a lot of people that I’m dealing with are saying I’d rather deal with the known tax rate right now than what the future holds and the potential increase in taxes. So, getting money to a Roth and allowing it time to accumulate, I think can always be a
And inheriting money can be a big taxable event, if not managed correctly. So, it’s important that you really understand the tax implications of where to transfer that money to, to maximize your situation. That’s the first step. Taxation is always the first step, deploying it, whether it be investments
