All tagged Fee-Only Financial Planner

6 Creative Paths to Retirement

6 Creative Paths to Retirement

Eric Maldonado, CFP®, MBA
Retirement Planning

What’s the best age to retire at?

How do you know when it’s the right time to retire?

We often spend a lot of time pondering those questions.

And we tend to confine our thinking to the financial side of things.1

How much do we need to retire and how far will our money go in retirement?

Answers to those questions are important.

But they aren’t the only things we need to consider if we want maximum fulfillment in retirement.

We also need to think about our psychological needs, especially when it comes to how we transition into retirement and how we spend our time as retirees.

Conventional thinking frames retirement as an all-in or all-out venture. But that is not always the best approach. And it doesn’t help you figure out how to spend your time in meaningful ways when you do retire.

Thinking outside the box and considering some creative alternatives to traditional retirement can help. That’s the focus of this month’s Aquila Wealth Visual Insights Newsletter.

Click here to see it!

The Cost of Raising Kids

The Cost of Raising Kids

Eric Maldonado, CFP®, MBA
Cash Flow Planning, Financial Planning, Life Planning

It's no secret that kids cost money.

But how much do they really set you back?

For the average American parent, raising a child comes with a price tag of at least $12,980 every year. By the age of 17, that’s well over $230,000—and that’s before college costs come into play. High-earning families spent even more—over $370,000 according to the research. 1

Of course, child-rearing costs vary from family to family, and it’s far more expensive to raise kids in some high-cost-of-living states, like Oregon and New York.2

Plus, kids don’t magically stop costing you money once they turn 18. College, rent, insurance, and helping out adult children can all add up.

Check out our newsletter here for more on the cost of raising kids.

CARES Act and What's in it for me?

CARES Act and What's in it for me?

Eric Maldonado, CFP®, MBA
Business Owners, Charitable Giving, Financial Planning, Economic Update

What’s inside the $2 trillion CARES Act? What’s in it for me?

The Coronavirus Aid, Relief, and Economic Security (CARES) Act is designed to provide relief for individuals and businesses who have been hurt by the outbreak. I won’t try to include all 800+ pages in this email, but here are a few key provisions that you should know about:(1)

One-time cash payment. Taxpayers are eligible for a one-time direct deposit of up to $1,200 per adult ($2,400 per couple) plus $500 per child under age 16. Amounts are reduced for those who make more than $75,000 ($150,000 if married). If you have filed your 2019 taxes already, the IRS will use that income to calculate your payment; if not, they’ll use your 2018 tax filing.

The 6 "Hidden" Tax Saving Opportunities Opened Up by New Tax Rules

The 6 "Hidden" Tax Saving Opportunities Opened Up by New Tax Rules

Eric Maldonado, CFP®, MBA
Tax Planning

Learn how the recent Tax Cuts and Jobs Act opened up new opportunities that could result in the lowest tax rates you'll ever see.

Click here to get access to our FREE tax saving guide.

  • Discover 6 immediate opportunities to lower your taxes

  • How new tax rules could permanently lower the taxes you pay

  • Why you need to take advantage of this limited time opportunity now before it expires

The laws are set to expire in 2025, but a new administration could change them sooner.

5 Ways to Build A Better #Tax Plan

5 Ways to Build A Better #Tax Plan

Eric Maldonado, CFP®, MBA
Tax Planning

You just finished your taxes, but it's not too early to make plans for next year.

It's important that as you build your plan, you think about some strategies to reduce or defer your taxes now or in the future. Here are some strategies to consider helping your financial plan become more tax-efficient:

1. Tax harvesting

Usually, this strategy is implemented near the end of the calendar year, but it can be done at any time. With tax-loss harvesting, you sell off holdings that have a loss position to offset the gains you've experienced from other sales.

The asset you sold is then replaced with a similar investment to maintain the portfolio's asset allocation and expected risk and return levels. It won't restore your losses, but it can ease the pain.

Contact us to schedule a complimentary planning meeting.