Tax season is an ideal time to review your financial situation and identify opportunities to improve tax efficiency as you prepare for retirement. Taking into account your current savings, inflation, taxes, benefit plans, and potential market returns, a comprehensive review can help ensure your plan is aligned to provide income throughout your lifetime. The value of a retirement portfolio is made up of two elements:
It is a common misperception that investment returns are the most important factor in growing your portfolio. However, contributions matter more to a portfolio's overall growth. How you contribute to and withdrawal from retirement accounts can have a significant impact on future income due to taxes and penalties, which is why it’s critical to work with a tax-intelligent financial professional. In fact, the potential value of working with a professional advisor can add approximately 5% to your portfolio each year, with 1.17% of that attributed to recommendations to minimize taxes*. Creating a tax-intelligent financial strategy, committing to consistent contributions, and staying on plan regardless of the market, economy, or investment performance is the best way to ensure you’re prepared for retirement. Unfortunately, only one in three Americans feel ‘very confident’ about their ability to have enough money to live comfortably throughout their retirement years. Let’s make sure that you do. At Riggle Wealth Group, we combine financial planning and tax awareness to help you make informed decisions, identify opportunities, and avoid costly surprises. Please call our office at your earliest convenience to schedule a review of your financial plan or email me directly at andrewriggle@rigglewealth.com. We look forward to helping you design a tax-intelligent retirement strategy. |
*2023 Russell Investments Value of an Advisor Study
For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera nor any of its representatives may give legal or tax advice.