"Am I financially OK?" is undoubtedly the most frequently asked question that I receive. As you might expect, there is not a one-size-fits-all answer, and many feel stuck when making financial decisions. However, here are a handful of things that may help guide you from a place of uncertainty or anxiousness toward ... Read more. The post Am I financially OK? appeared first on Grand Life Financial.| Grand Life Financial
After being in a savings mode for a good part of your life, you have now transitioned into retirement and may be wondering the best way draw down assets from your investment accounts to meet your living expenses and not incur significant taxes. The accumulation phase was somewhat straightforward as you used tax-advantaged investments to| Grand Life Financial
A comprehensive financial plan can help when making big decisions that will impact your finances. When can I retire? Should I use a windfall to pay off my mortgage early? How much do I need to save to retire so I can maintain my lifestyle? Developing a financial plan can help you evaluate each ... Read more. The post I am nervous about making big financial decisions. How can a Financial Planner help? appeared first on Grand Life Financial.| Grand Life Financial
Employees are by far your most valuable asset and retaining them can lead to greater profitability. In fact, research has shown that by focusing on engagement, a business can see over 20% higher profitability[1]. But there are several challenges that small business owners face, such as: Lack of flexibility Unclear career development Not feeling ... Read more. The post Why does my small business struggle with employee retention and what can I do to improve it? appeared first on Grand Life ...| Grand Life Financial
If you are one of the more fortunate to receive a pension, there may be several different payout options, like a lump-sum payout, and understanding the pros and cons of each can make a significant difference in how your retirement unfolds. A traditional pension, or annuity, means that you receive a fixed ... Read more. The post With a pension plan, is an annuity or lump-sum payout better for me? appeared first on Grand Life Financial.| Grand Life Financial
John Foligno shares his take on Financial-Planning.com “Ask an Advisor” (April 13, 2023) Dear advisors, What would be a good allocation between domestic and international stocks? I'm a 36-year-old tech worker in New York City, and I have about $150,000 invested in index funds. Right now, I have them at a 60/40 split: 60% ... Read more. The post Financial-Planning.com: What’s the right ratio of U.S. and foreign stocks? appeared first on Grand Life Financial.| Grand Life Financial
When you contribute to a 401(k), your investments grow tax deferred. But when you start taking distributions, you typically pay ordinary income taxes on the entire amount withdrawn. However, if you own your employer’s publicly traded stock inside your 401(k) — and that stock has appreciated in value — you may be able to ... Read more. The post The Smart Way to Pay Less Tax on Company Stock in Your 401(k) Using NUA appeared first on Grand Life Financial.| Grand Life Financial
Gifting can be a tax-efficient way to transfer wealth before and after your passing, and there are many strategies available depending upon your situation and goals. Gift Tax Exclusion – The IRS provides an annual gift tax exclusion of up to $17,000 (2023) to individual taxpayers. This means that you can gift ... Read more. The post What gifting strategies will reduce my taxes? appeared first on Grand Life Financial.| Grand Life Financial
Merging your small business with another can be a strategic move that unlocks growth, profitability, and new market opportunities. But it's not a decision to take lightly. While a well-planned merger can help scale your business faster, a poorly executed one can lead to serious setbacks—even failure. In this guide, we’ll explore the pros ... Read more. The post Should I Merge My Small Business? Key Considerations Before Taking the Leap appeared first on Grand Life Financial.| Grand Life Financial
There are several ways that you can reduce your taxes when contributing to qualified charitable organizations, so long as you are able to itemize your tax deductions. Establish a Donor-Advised Fund – Tax law changes may have adversely impacted your ability to itemize your annual charitable donations. You might consider establishing a ... Read more. The post How can I maximize my tax savings when donating to charity? appeared first on Grand Life Financial.| Grand Life Financial
Budgeting for health care during retirement depends largely on your age and overall health. However, it is important to plan ahead as the cost of health care will likely increase as you age. According to the U.S. Bureau of Labor Statistics, those 65 and older, on average, spend over $4,000 per month. Medicare is| Grand Life Financial
Discover the role of a fiduciary financial advisor and wealth management in creating a tax-efficient financial plan for your future.| Grand Life Financial
Get practical tips to get on same page financially with spouse, fostering open communication and shared goals.| Grand Life Financial
