Explore our library of insights to learn more about the industry and how EIA factors this information into our strategies.
TL;DR: Retirement planning is key to a secure future. Understand your options, set goals, and start saving early. A financial advisor can help you create a personalized plan. Main Points: Types of Retirement Plans: 401(k), IRA, Pensions, SEP, SIMPLE Planning Your Needs: Estimate expenses, set goals (short-term & long-term) Choosing a Plan: Consider employer match, […]
TL;DR: Transitioning from Federal Employment to Retirement Federal retirement planning is essential for financial security and mental preparation. Components of federal retirement include FERS & CSRS pensions, Thrift Savings Plan (TSP), Social Security, and continued health and life insurance. Consider eligibility, optimal retirement age, financial preparedness, health benefits, and lifestyle goals when planning. Consult with […]
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Summary: High Net Worth Financial Planning targets unique challenges of those with at least $1 million in liquid assets, focusing on protection, growth, and efficient wealth transfer. Key Strategies: Includes tax optimization, diversified investment portfolios, estate planning, philanthropy, and risk management. Common Pitfalls: Tax Mismanagement: Utilizing tax reduction strategies like tax-loss harvesting and charitable contributions […]
Read More… from High Net Worth Financial Planning: Overcoming Common Pitfalls
TL;DR: Navigating Philanthropic Financial Planning Definition and Importance: Combines financial strategy with altruism, optimizing charitable impact and financial gains. Benefits: Tax deductions, personal fulfillment, and creating a lasting legacy. Vehicles for Giving: Includes donor-advised funds, private foundations, charitable trusts, and direct gifts. Family and Succession Planning: Integrates family into giving strategies for sustained impact. Expert […]
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TL;DR: Understanding Annuities for Retirement Stability Security: Annuities provide a steady income during retirement, ensuring financial stability. Variety: Available in immediate and deferred forms to suit different retirement timings and financial goals. Tax Benefits: Earnings grow tax-deferred, with taxation based on the funding source (qualified or non-qualified). Advisor Recommendation: Consulting with a financial advisor can […]
TL;DR: Budgeting is essential for managing savings, preventing overspending, accommodating changes in expenses, planning for unexpected costs, and maximizing retirement income. Top Budgeting Tools: Mint: Tracks spending habits, investments, and retirement accounts. You Need a Budget (YNAB): Helps allocate income towards essential expenses and savings. PocketGuard: Simplifies spending analysis and identifies savings opportunities. Quicken: Provides […]
Read More… from 10 Must-Have Budgeting Tools for Effective Retirement Planning
TL;DR: Diversification is defined as spreading investments across various asset classes to minimize risks and maximize returns. Benefits of Diversification: Reduces risk, protects against market volatility, potentially increases returns, and offers flexibility. Key Components of a Diversified Portfolio: Includes equities in different sectors and regions, bonds with varying maturities, cash equivalents for liquidity, and alternative […]
Read More… from Financial Planning Investments: Diversifying Your Portfolio
TL;DR: This blog outlines five essential financial planning tools to help secure a comfortable retirement, emphasizing the importance of proactive financial management at any age. Budgeting Apps: Enhance spending visibility, manage budgets, and track goals efficiently. Investment Tracking Software: Provides insights into portfolio performance and suggests diversification strategies. Debt Management Tools: Offers a consolidated view […]
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Your Journey to the Golden Years Starts Now.
“MAKING THE RIGHT DECISIONS AT THE RIGHT TIME, SITTING DOWN AND PUTTING TOGETHER A PLAN, AND FIGURING OUT WHAT IS AVAILABLE TO PROVIDE A LIFETIME INCOME IN RETIREMENT ARE ALL THINGS WE CAN HELP WITH HERE AT EIA.”
“STOP THINKING ABOUT RETIREMENT AS, ‘I HAVE TO GET TO [A CERTAIN NUMBER] BEFORE I CAN RETIRE.’ FIGURE OUT WHAT LIFE NEEDS TO LOOK LIKE, AND LET’S BUILD A PLAN THAT ALLOWS YOU THE OPPORTUNITY TO LIVE THAT LIFESTYLE.”
“WE ARE ALL ABOUT INCOME. WE WANT TO MAKE SURE YOU HAVE ENOUGH INCOME COMING IN WHEN YOU RETIRE. AND WE ALSO WANT TO MAKE SURE WE CONSIDER INFLATION AND TAXES.”
