How to Manage Healthcare Costs via Investing (and Save On Taxes)
The taxman seems to follow us everywhere, right? He taxes our salaries, our properties, our purchases, our investments, and even our gifts! It’s hard to find a place where his hands don’t reach. However, there is one bastion of tax-free goodness potentially available to you. Imagine drawing a salary, not paying taxes on a portion […]
The 529 Plan: How to Make the Most of It
Everything seems to be getting more expensive these days: groceries, gas, housing, traveling, credit card interest rates, healthcare, and higher education, just to name a few. Unfortunately, inflation doesn’t explain everything, especially regarding college education costs, which have consistently outpaced inflation since 1977. Tuition vs. Inflation Chart Source: https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator/consumer-price-index-1913- This phenomenon of consistently rising tuition […]
How to Protect Your CPA Income in Retirement
How long would it take for you to run out of money if you suddenly stopped getting a paycheck? The thought may seem absurd at the moment, but eventually, that day will come when you retire. From that point on, you won’t have the luxury of earning a paycheck to spend and invest as you […]
Will Inflation Ruin Your Retirement?
Over the decades of your working and investing career as a CPA, your portfolio has likely begun to experience exponential, compounding growth. It took a while to earn that first $100,000 and then your first $500,000, but as the decades pass, your portfolio will probably begin to grow faster and faster. However, there’s one minor […]
Should I Delay Social Security Benefits in 2024?
It’s 2024, the world is changing fast, and, as a CPA, your retirement finances are quickly becoming your primary concern. Social Security benefits will become available to you in just a few short years. At that point, you’ll face a crossroads – should you start taking your Social Security benefits immediately, delay for a few […]
Evaluating Income Sources In Retirement
As a CPA, you’ve spent your career helping clients navigate complex financial situations and plan for their futures. But when it comes to your own retirement, are you accurately anticipating your income sources? Many Americans, and even CPAs, have serious misconceptions about their retirement income – frequently through no fault or intention of their own. […]
Tax Mistakes to Avoid in Retirement
CPAs are often experts in the finer points of tax law – however, when it comes to retirement planning, there is sometimes a gap in how a tax plan should integrate a lifelong investment plan. All those years of diligent saving can be quickly undone not by choosing the wrong assets but rather by not […]
How Do Advisors Actually Add Value?
As a CPA, you’re highly attuned to the value you add to your clients, and often, you can point to a figure and say, ‘This is how much I’ve saved you this year in taxes.’ A financial advisor’s value add can seem quite nebulous in comparison, as there isn’t usually a direct way to compare […]
Are You Retirement Ready in 2024?
It’s 2024, and the world is changing fast – perhaps a bit too fast. Wouldn’t it be nice to finally get away from the hustle and bustle of running your firm or working your way up the career ladder and finally settling into that long-awaited – and well-deserved – rest? Unfortunately, even after years of […]
The Sequence of Returns Risk
As you approach retirement, you have a difficult decision to make – reallocate your assets to align with a more risk-averse profile for stability or to keep your funds invested in high-growth assets such as stocks. Each decision has its own issues. By purchasing more bonds, you’re reducing the potential negative impact on your portfolio […]
