We recently reviewed your financial situation and uncovered an opportunity that could help save money on taxes as you prepare for retirement. In light of your current savings, inflation, taxes, benefit plans and potential market returns, we believe it would be wise to conduct a comprehensive review of your financial plan to ensure you’ll have sufficient income to last 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. Please call our office at your earliest convenience to schedule a review of your financial plan. We look forward to helping you design a tax-intelligent retirement strategy. Best Regards, |
*2023 Russell Investments Value of an Advisor Study