The 3 Stages of Your Financial Life

Video Transcript:

What are the three stages in your financial life? The first stage is preparing for life’s uncertainties. The second stage is managing your net worth and the third stage is managing retirement and your estate. The base of the pyramid is preparing for life’s uncertainties. Insurance is the most cost-effective way to deal with this.Insurance can include life and health insurance, disability insurance, long-term care insurance, home and auto insurance and insurance against other perils. Adequate liquidity in your investments or in cash to cover emergencies along with a will is important.The next level involves managing your money. Investment strategies should include diversification and risk management. The best option is to review you goals with a professional.The top tier addresses retirement and estate planning. The ultimate goal is to ensure that you have income and assets for as long as you live. Your investments should be in line with your specific situation, goals and risk tolerance. An estate planning professional can provide you with documents necessary to ensure a planned distribution to beneficiaries. The three stages sound simple yet few people adequately prepare for any of them.We can work with your tax and legal professionals to develop a plan to help you reach your financial goals. So please give us a call today.

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How Are Your Social Security Benefits Calculated?

Video Transcript:

We all think we know the basics about Social Security, but do we really know how different the benefits can be? The standard retirement age is between 65 and 67, depending on your birthday. Your monthly income, also called your PIA, is determined by your highest 35 years of indexed earnings. You can start taking benefits as early as age 62, but your monthly income will be reduced by at least 25%. Say your full retirement age is exactly 66 years old, then you can delay until age 70 and your monthly income will be 32% higher.

Your strategy needs to be based upon a number of factors: how much retirement income you need, other sources of income, income taxes and your general health condition. Other factors also weigh in, like survivor needs, divorce, dependent children, and available liquid assets.

Proper planning requires attention to all these details. Give us a call today for help with planning your Social Security strategies.

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When Does a Roth Conversion Make Sense?


Video Transcript:

With a traditional IRA, you may qualify for a tax deduction when you invest your money. But later, when you take the money out in retirement, all those distributions are taxed. The Roth IRA is the opposite. It has no deduction when you put the money in, but later, all distributions are tax-free when you take the money out during retirement.

By converting from a traditional IRA to a Roth IRA, future gains become tax-free. But when you convert funds from a traditional IRA to a Roth IRA, you must pay taxes on the converted amount that year. You can choose to convert all or just part of a traditional IRA to a Roth IRA. Timing should be based upon when you are in a lower tax bracket or have other offsetting deductions. We can help you gauge the costs and benefits of a Roth conversion in your situation. Beware of penalties if you may need to tap into your Roth IRA funds in the next five years and you are or will be younger than age 59.5 when you need these funds.

Give us a call today and we’ll help you evaluate your options. It’s important that all investment titling and beneficiary designations are working in concert with your will or other estate planning documents. Speak with your estate and tax planning professionals to evaluate any potential tax ramifications and call us today to learn more about strategies and resources that may help you preserve your nest egg.

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When is the Best Time to Retire?

Video Transcript:

At FULCRUM WEALTH ADVISORS we work hard to educate our clients about what diversification is and how it may benefit their portfolio’s.

The first part of that education is to help dispel much of the normal jargon used by traditional media sources.

When reviewing prospective client portfolios, far too often we see, lots of pretty pie charts without a great deal of substance behind them.

True diversification isn’t just about more stocks and bonds, and it isn’t about more sectors

Diversification isn’t just about more geographies, either.

The best defense against unmanaged risk isn’t more diversification, but better diversification.

At FULCRUM WEALTH ADVISORS we understand the difference! We help our clients construct intelligent portfolios built specifically to pursue their financial objectives that are unique to them all of which is built around a financial plan.

If you would like to understand the difference, please take a moment to reach out to us at the number below or through our website.

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Don’t Let Timing Ruin Your Retirement

Video Transcript:

Did you know that one of the greatest risks to your retirement portfolio can happen in the first years you retire? The timing of when you begin withdrawing money from your investments can dramatically impact your long-term wealth.

It’s called sequence-of-return risk, and the danger is very real.

When you make regular withdrawals from investments while market returns are down, your portfolio shrinks faster because the investments are worth less.

If that happens early in retirement, it’s more difficult to rebuild your assets and get back on track – you could even deplete your portfolio before the good returns show up. But there are ways to protect yourself from negative returns in the early years of your retirement, including reducing risk in your portfolio and modifying spending in down market years.

For more information on how to achieve a successful retirement, call or visit our website today.

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Diversification What Does it Really Mean



Video Transcript:

At FULCRUM WEALTH ADVISORS we work hard to educate our clients about what diversification is and how it may benefit their portfolio’s.

The first part of that education is to help dispel much of the normal jargon used by traditional media sources.

When reviewing prospective client portfolios, far too often we see, lots of pretty pie charts without a great deal of substance behind them.

True diversification isn’t just about more stocks and bonds, and it isn’t about more sectors

Diversification isn’t just about more geographies, either.

The best defense against unmanaged risk isn’t more diversification, but better diversification.

At FULCRUM WEALTH ADVISORS we understand the difference! We help our clients construct intelligent portfolios built specifically to pursue their financial objectives that are unique to them all of which is built around a financial plan.

If you would like to understand the difference, please take a moment to reach out to us at the number below or through our website.

To find out more about how to use videos like this to attract your ideal client through digital marketing on the internet, click here

Your Spouse Just Passed Away- What Should You Do?



Video Transcript

The death of a spouse is one of the most devastating events of a person’s life. During this difficult time, do not make any major financial decisions right away. Allow yourself time to only deal with the emotions of your loss. Then, get 10 to 20 copies of your spouse’s death certificate to document ownership changes. Be sure to keep all payments current to avoid late and interest charges.

Don’t sell your house, sell investments, or give money to charity right away, and don’t immediately invest proceeds from insurance until your financial picture is clear. Verify your survivor benefits from pensions, Social Security and investments. Gather and organize all financial documents and statements. Then assess your current financial needs.

We can help you through this difficult time. Please give us a call today. We’re here for you.

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How to Allocate Assets Within Your Portfolio When You Retire



Video Transcript

If you’re nearing retirement, you may need to consider asset allocation in a different way. Be aware that asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. When you were younger, you may have invested in stocks and mutual funds for the growth and perhaps the diversification offered. You had time on your side. You invested for the long haul and could weather the ups and downs of the stock market.

But when you’re nearing or in retirement, the ground rules change. Losses are difficult to recover and your income stream could suffer just when you’re counting on it. Often, a balance between stocks and bonds is used because these investments usually move in opposite directions. This is where asset allocation comes into play. Because investments may go up and down, and your financial needs may vary, your planning must allow for contingencies. Various types of investments can help accomplish this.

By allocating investments for growth potential, guaranteed income, risk management, and taxes, we can develop a strategy to help you meet your financial goals. Please give us a call today to find out how you can allocate your assets for your retirement.

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How Can You Plan for Long-Term Care?



Video Transcript:

Statistics say there is a seventy percent chance that you or your spouse will experience a need for long-term care! Long-term care includes a range of services and supports you may need to meet your personal care needs. Most long-term care is not medical care, but rather assistance with the basic personal tasks of everyday life, sometimes called Activities of Daily Living (or ADLs). These include Bathing, Dressing, Using the toilet, Transferring to or from bed or chairs, Caring for incontinence, and Eating. Other common long-term care services and supports are assistance with everyday tasks, sometimes called Instrumental Activities of Daily Living (or IADLs) These include Housework, Managing money, Taking medication, Preparing and cleaning up after meals, Shopping for groceries or clothes, Using the telephone or other communication devices, Caring for pets and Responding to emergency alerts such as fire alarms. The cost of Long-Term care varies with the amount of coverage, length of care, and deductibles. The initial premium level will increase based upon the age at which you apply. Like all insurance, most people wait too long before applying. 1 in 4 who apply between the ages of 60 and 69, don’t qualify. You owe it to yourself and family to know the options and prepare well today. Call us to find out more.

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How Do You Create a Simple Retirement Income Plan?


Video Transcript:

A retirement income plan is needed because life changes in retirement. Your retirement plan should account for every year in retirement, even past your life expectancy. For each year, make a list for you and your spouse that include social security income, pensions and annuity income. Also list earnings from investments and working part-time.

List any other fixed and regular income sources. For each year, list your desired gross retirement income need. Be sure to include taxes, the effects of inflation and potential medical expenses. Then for each year, determine the gap or surplus by subtracting expenses from income.

If you see that you have gaps in your retirement plan, give us a call today. We can make sure you have a strategy to help you reach your retirement goals.

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