When discussing retirement plans with my clients, I always discuss taxes. Taxes can make a huge difference in your income during your retirement years. I believe my clients need to develop retirement strategies that address taxation, while providing sources of supplemental retirement income. Here are some of the specific topics I discuss with my clients.
One of the most debated financial questions of modern times is whether you should prioritize paying off your home mortgage over planning for your retirement. The answer to that question often is rooted in emotion more than sound financial wisdom. Emotion embraces the dream of a retirement with no debt, great health, and doing whatever you want whenever you want. However, for the vast majority of Americans, this will not be their reality. Sound financial wisdom says that before blindly adhering to the mantra of paying off your home mortgage as quickly as possible, you should examine your situation to see if it really makes financial sense for you.
Financial Planning without life insurance is like rearranging the deck chairs on the Titanic.
You may not be able to change many of life’s problems, but you can change how you face them. Imagine with me what life could be if you broke the mold of financial crisis in your family and left a legacy of financial wisdom instead.
It continues to amaze me how many people don’t like to discuss the end of their lives, believing somehow that discussing their death will hasten it. What about you? Is death a topic you prefer to avoid?
People have lots of ideas about debt; some believe there can be good debt and bad debt. Others believe we should avoid debt altogether.