Should the types of accounts where you invest your assets be an important consideration? Whether you have a 401(k), a traditional IRA, a Roth IRA, or a personal investment account, it can make a big difference. Not all investment accounts are treated the same, especially regarding taxation. This is why you need to create an asset location strategy.  You can think of asset allocation as planning a balanced meal of proteins, carbs, and veggies. The role of asset allocation is […]

Depending upon your age, ten years may seem like a long time from now or like the blink of an eye. When you think about your finances and life stages, ten years could mean the difference between getting close to retirement or being in the early, mid, or late stages. Regardless of your current stage in life, having a well-thought-out set of 10-year financial goals could impact when and how you live during retirement.  Having long-term financial goals based on […]

Think of a long-term investing strategy like planting a tree. Just as a sapling needs time, care, and the right conditions to grow into a sturdy, fruit-bearing tree, your investments require patience, consistent contributions, and the right mix of asset classes to mature into a robust portfolio. You don’t plant a tree expecting immediate shade or fruit; with investing, the real benefits are seen over the years, not days, weeks, or a few months. As the pundits say: “It’s a […]

If you are in your 50s or early 60s and are nearing retirement, one important part of your retirement planning process should be determining when you will begin taking your Social Security benefits. This timing could also impact your spouse, who may qualify for Social Security benefits.  While many people think that question is a no-brainer, when you begin taking your benefits can significantly impact your financial well-being for the rest of your life. As financial advisors in Buffalo Grove, […]

Incorporating long-term investment strategies into your retirement plan is like planting a tree in your backyard. When you first plant the tree, it requires a lot of care and support until it has a solid foundation that can withstand the elements. With time and the right care, what was once a small sapling becomes a fifty-foot tree with a sturdy root structure.  The same can be said about your retirement assets. They start small and grow into something substantial. Along […]

As Buffalo Grove financial advisors, one of our primary duties is to assist people in creating retirement plans that will sustain them throughout the rest of their lives. This may sound pretty straightforward, but it’s not. There are an incredible number of twists and turns.  While there are many known assumptions about retirement, there are equally as many unknown aspects that are difficult to predict, so they often don’t get factored into people’s retirement plans. This can cause many restless […]

Estate planning is a lot like designing a garden. In a garden, you consider the seasons, sunlight, and soil conditions to decide where to plant each seed. Similarly, estate planning requires you to think ahead, consider tax laws, understand your family’s needs, determine your wishes, and plan your legacy in the way you want to impact future generations. You may use trellises, fertilizers, and protective barriers like fences to help plants grow and fend off pests. Likewise, in estate planning, […]

Choosing the right Buffalo Grove CFP® professional can be crucial, especially as you get closer to retirement. You must make several important financial decisions impacting your quality of life and financial security. Many Buffalo Grove residents near retirement have told us their financial future seems more like a puzzle than a plan.  We know you have a lot on your plate, from concerns about the looming possibility of a 2024 recession to the uncertainty of an election year and what […]

Navigating 30 or more years of retirement in a volatile economic landscape poses unique challenges, especially for professionals, business owners, and executives who have spent years accumulating substantial wealth.  As you transition into this next chapter of your life, you may find that market volatility and whispers of a recession add a layer of risk to your financial decisions. But fear not, making the most of your wealth is entirely possible when you use strategic tax planning for retirement. Most […]