It's never to late
Invest in your future
Now is the time to get your priorities and investing goals on track. Your top goals should include, reducing debt, invest for retirement, and optimize your tax savings strategy.
If you have children, start saving for college tuition and tax advantage of childcare tax credits. This is also the time to look at your tax-deferred saving options, such as 401(k) plans, IRAs, and other strategies. It is easy to put off your future financial goals at this age, but now is the time to be thoughtful and strategic planning to ensure your retirement will be the most rewarding years of your life.
You are now in your peak earning years and it’s time to build assets for your future retirement. Not only is the time to build assets, but you should be taking steps to protect your wealth from big mistakes and stock market volatility that could destroy your retirement dreams. Other goals should include, taking a look at your Social Security statement and determine how much retirement income you will need in addition to your projected Social Security benefits. Your fifties are the ideal time to review your financial future and begin implementing a solid plan to achieve your goals.
Your “Golden Years” are in sight and time to prepare to live your retirement dreams that you have been planning. There are some key points to keep in mind. Should you retire and what is the best time to take Social Security? Take a look at your benefits and decide how to maximize your Social Security payout. Sign up for Medicare and compare benefits and features on the best plans for you. Now is the time you will be taking your Required Minimum Distributions “RMDs” from your retirement investment accounts. The penalties are high if you miss a distribution so make sure you have a plan in place. It is most important at this time to work with your financial advisor to fine-tune your retirement plan and prepare for your hard-earned retirement.
What we stand for
At RedFox Wealth, you are more than just a number. We work as a financial advisor for business owners, as well as other professionals, because we understand and applaud all of your hard work and dedication.