In today’s financial climate, wealth planning and preserving what you have saved, earned, and worked hard to build is no easy task. While inflation, new tax regulations, and market conditions can pose a risk to your wealth, it’s also important to consider how your budget and expenditures can affect your wealth. Many people assume that income and wealth planning are separate things, but if there are certain expenditures that stand to reduce your wealth. For example, proper wealth management will involve budgeting strategies as well as investment planning. With your wealth advisor, we’ll make sure that your portfolio properly incorporates a budget that can reduce the pressure.

When it comes to the construction of your investment portfolio, it’s important to understand both your long- and short-term lifestyle and financial goals in order to properly build an investment plan that meets them. Firstly, portfolio diversity is of the utmost importance. Diversification of assets can help you protect against downside risk and increase your chances for upside gain, all while helping you meet your short- and long-term investment goals such as income generation versus asset growth. As part of our services at Goldstone Financial Group, we provide comprehensive market and investment outlooks that are tailored to your unique investments and financial goals. Along the way, we provide investment risk management assessments that align with your retirement timeline and wealth and income goals.

One of the greatest advantages to working with Goldstone Financial Group is that we understand the taxation landscape. We’ve helped our clients successfully minimize their tax burdens through the various options available to them throughout their retirement timeline.

For instance, we can help you maximize your retirement investment accounts based on their taxation status. The Roth IRA and Roth 401(k) are both post-tax accounts, meaning you pay taxes on your contributions and can withdraw tax-free once qualified. Traditional IRAs defer your income taxes so that whatever you contribute to the account in the moment is exempt from income taxes but is owed at the time you withdraw and is subject to your tax rate at the time you withdraw.

These days it can feel as if off-hand financial advice is around every corner. Whether it’s a friend, colleague, or the internet’s next financial “expert”, everyone seems to know what’s going to happen next in the financial world. The truth is nobody can predict the future. Without the combined knowledge of your unique financial situation and the dynamic tools, rules, and best practices of wealth planning, it’s impossible to set yourself up with protection for whatever the future could bring while optimizing upside potential.

A fiduciary financial advisor, like those of us at Goldstone Financial Group, are obligated by law to advise in your best interest, regardless of if that advice benefits our firm.