PROBLEMS WE SOLVE
When you’re thinking about how to invest and save for the future, you have a number of options to choose from. The big retirement firms are known for their array of products and offers. They may even make bold claims about how they can help you feel secure even in a time of upheaval. If you live in New Jersey, though, consider what kind of service you’ll really receive, and how you might feel when it’s clear their bottom line is more important than yours.
A Gateway to Retirement
A boutique retirement firm may not have endless staff members to answer all of your questions. What they do give you is the chance to form a relationship with a professional financial advisor. At Ebneth Financial Group, Carl Ebneth can tell you more about the investment strategies that fit your lifestyle.
Personalization isn’t just helpful when it comes to retirement, it’s downright necessary. When everyone has different plans for their golden years, it’s critical for an advisor to take your wishes into their long-term calculations. Maybe you’re interested in owning real estate rather than playing the market. Maybe you need to step just slightly outside your comfort zone to build a better, more nuanced relationship with risk.
There are few things worse than working with a professional who doesn’t understand how you feel about spending and saving. If your financial advisor pressures you to take too many risks you’re uncomfortable with, the disadvantages can quickly start to outweigh the rewards. When your financial advisor takes the time to get to know who you are and who you hope to protect with your money, it can all start to come together.
Plus, if you ever get overwhelmed in South New Jersey or the Jersey Shore, the fundamentals of retirement strategy remain fairly standard.
1. Decide how much you can save every single month.
2. Have your financial advisor manage a portion of your wealth according to your needs.
3. Sit back knowing that you (and those you love) will be comfortable during your retirement —no matter what happens.
Efficient Tax Planning
If you’ve always wanted to do more with your income, efficient tax planning is a must. Getting control over your finances is more than just pinching pennies and keeping an eye out for the best investment opportunities. Taxes are likely one of the biggest expenses you have. If you’re not monitoring how and where the money is going, it’s easy to over pay. This is all complicated by an extremely complex set of rules and regulations regarding every payment. If you don’t know the ins and outs of each clause, it would be easy to miss an opportunity.
What Is Efficient Tax Planning?
The goal of efficient tax planning is to scrutinize your strategy before you file. When a financial professional looks over the numbers, they’ll answer numerous questions about your accounts. How are different work–related expenses related to your bottom line? Are you deducting the right expenses? Would your portfolio benefit from creating a trust? Are there any upcoming changes in your industry that would affect your yearly percentage?
A good financial advisor should do more than provide a few tips about how to invest your money. They need to be up to speed on the many factors that impact your holdings. Whether it’s local, state, or federal codes, the reality is that few people have time to really learn and understand all of the exceptions and loopholes. At Ebneth Financial Group, you can work with an advisor who knows how to structure your finances so you’re not overspending on the government.
This financial concept can help you save for retirement, pay for your grandchildren’s education, and support the causes you care about. So many people miss out on these things precisely because they don’t have the right information before they file. An advisor won’t choose for you, but they can lay out different options that you might not have considered before. Even if you’re used to working with an accountant, an advisor can go one step further to maximize your assets.
Wealth Management
When people accumulate a certain amount of wealth, all those assets inevitably take time to manage. Stocks, bonds, real estate: it’s critical to stay on top of the relative values of each holding. Unfortunately, the sheer amount of time it takes to assess countless accounts is often enough for a portfolio to stagnate (or worse).
If you’re feeling uneasy about how your portfolio is performing, consider how a financial advisor can be of service. When you have effective management strategies on your side, it means you have someone paying attention to the details —before anything spirals out of control.
What Is Wealth Management in New Jersey?
Wealth management refers to the oversight of your wealth at a granular level. From legal statutes to tax codes, a financial advisor will look at how these components affect your bottom line. If you need to make a change to your accounts, they’ll alert you. If there’s an asset in peril, an advisor will tell you why and give you the information you need to take the next step. Whether you choose to ultimately withdraw or not, the goal is to keep on top of it all.
There are multiple ways to grow your wealth in New Jersey. At Ebneth Financial Group, Carl Ebneth helps his clients understand how they can best protect that wealth, particularly when the economy is on a roller coaster. If you have significant savings, he can tell you how to increase the margins. If you have multiple investments across industries, he can tell you when one takes a dive.
Ebneth Financial Group can even alert you to major changes taking place that might affect the value of your portfolio. For instance, if you’re investing at all in green energy, you might want to know what new laws will mean for your investments. Wealth management isn’t just a matter of putting in the time. A qualified financial advisor is able to assess everything under your umbrella. They’re available to keep an eye on it all, so you aren’t caught unawares.
Retirement Income Planning
When you think about standard financial advice, it’s likely the term “diversify” pops into your head. This is a tried–and–true strategy that has managed to pay off for countless people all over the world. For instance, instead of investing solely in property, you might put some of your money into the market. Instead of a standard savings account, you might branch out to CDs or bonds. Retirement income planning is a financial principle that follows many of the same rules. It’s ultimately designed to replace your income whenever your retirement age happens to roll around.
How Much Do I Need to Retire?
Retirement income planning leans on the idea of diversifying, so you’re not dependent solely on one stream of revenue. A healthy savings account is certainly a great start, but it’s even better when combined with rental income from properties, stock dividends, pension benefits, Social Security, etc. A financial advisor like Carl Ebneth at Ebneth Financial Group can tell you more about which streams of revenue will work best for your long–term retirement goals.
How you choose your retirement income comes down to what you want out of your golden years. One popular way for many people to augment their monthly income is to get a part–time job in a field that they’re passionate about. So, if you’ve ever wanted to pour wine in a tasting room or teach guitar lessons to teenagers, consider how the extra money could help you keep your savings intact for longer.
If you’re asking how to plan your retirement income, it’s more than just aiming for a certain amount of money to save. You may have heard that you need around a million dollars to withdraw anywhere from $40,000 to $50,000 per year, but the reality is that many people shouldn’t follow this model. When you have several reliable sources of funds coming in every single month, it’s easier to put your savings into perspective. The more money you have to cover everyday expenses, the more likely you’ll be able to cover other expenses, like your grandchildren’s education or an unexpected medical injury.
Life Insurance
Life insurance policies are designed to give your beneficiaries a life raft after you’re gone. The catch is that you need to understand the terms and benefits of each plan to choose the one that’s right for you and those you love. Choosing based on the cost of the premium or the flashy advertising of the carrier can end up causing far more problems than it’s worth. It can be confusing to wade through all of the information, which is why it helps to learn the facts before figuring out your next move.
Permanent and Term Life Insurance in New Jersey
Carriers of life insurance are thrilled to talk about the perks behind different plans, but what they don’t always fill you in on are the specifics. This is unfortunate, because it leads to people paying for coverage they don’t need. It’s also all too easy to choose a plan with restricted coverage. This is a particularly tragic situation, as the details and restrictions will only be revealed after the policyholder’s passing.
The two standard forms of life insurance are called term life insurance and permanent life insurance. Term insurance will have an expiration date on the policy, while permanent will not. So let’s say you wanted to provide for your two children up until they’ve finished undergrad. In that case, you might choose a term policy that’s set to expire right after your youngest gets their diploma. Should you decide to extend the coverage, you can either change the date or convert the term into a permanent policy.
With permanent insurance, there’s no expiration date. These policies are more expensive than term life insurance, but they also sometimes offer a savings component to them, which can make them an asset if you have an unexpected emergency pop up.
A financial advisor can help you figure out how a policy will function in real life, how the exemptions impact the benefits, and what your beneficiaries can expect. At Ebneth Financial Group, Carl Ebneth helps clients in New Jersey find a life insurance policy that will work for them.
HealthCare
Health care is a loaded term in the country these days. Despite the efforts thrown into improvements, hospital systems and doctor’s offices alike struggle with everything from communication to time management. The quality of services and the costs vary so much from coast to coast that it can be difficult to even start a dialog about what you can expect.
This is why having a financial advisor can be so helpful when you’re trying to decide what type of insurance policy you need. There’s a lot to learn about the many policies out there, and talking to someone who knows all of them can help you avoid buying coverage that you don’t need while ensuring you get all of the perks you will need.
Healthcare and Retirement
There are an infinite number of carriers and policies available. Some are bare bones, designed for only the worst possible scenarios. A major medical plan may make sense when a person is young. While there’s always the chance of a serious illness or severe injury, the more likely scenario is that they’ll receive healthcare coverage for a small premium every month. (That high deductible can certainly be daunting, but it’s certainly better to have any coverage at all when the bills start to roll in.)
As you get older, though, your healthcare needs will begin to change. Chronic conditions may develop, particularly if they are hereditary. Tastes can easily change too. For instance, you may decide to pursue holistic types of medicine, like acupuncture. Or you may want to talk to a chiropractor before you start seeing a physical therapist. What’s covered and what isn’t has everything to do with your financial future. It’s also exceptionally important as it applies to managing your health.
Talking to an advisor is a way to give yourself the advantage before you select a plan. At Ebneth Financial Group, you can speak to a professional who understands what each clause means, and how it translates to your retirement goals. The staff is available to answer questions as they pertain to your portfolio, so you don’t have to worry about what’s around the corner.
Long-term Care
Few things can derail your retirement plans more than a long–term illness or severe injury. The level of care needed in these scenarios can range from expert surgeons to at–home aides. Some health insurance policies will cover a portion of these costs, but most exclude costs that aren’t strictly medical (e.g., nursing home expenses, etc.) This is why some carriers offer a different type of policy, one that can help you hire people and purchase devices that will make your recovery go that much smoother.
How Long-Term Care (LTC) Insurance Works in New Jersey
Long–term care is a type of insurance policy that helps policyholders pay for help that isn’t covered under their standard medical insurance or Medicare plan. Whether you just want someone to grab a few groceries after you’ve sprained an ankle or you require round-the-clock hygienic care, the right LTC policy means that you won’t have to cover those costs out of pocket.
This policy can be a financial lifesaver for some people. In fact, one study showed that LTC policyholders paid about six times less than their counterparts in the case of a long-term illness or injury. If you want to preserve the value of your portfolio, getting the right policy can be one of the smartest decisions you’ve ever made.
As people age, the odds they will encounter a serious healthcare problem increase. If you want to protect all that you’ve built, a financial advisor can tell you whether this type of policy is right for you. At Ebneth Financial Group, Carl Ebneth helps his clients understand these policies and how they ultimately affect their bigger retirement plans. Some people will benefit from buying an LTC policy, especially if they have a hereditary illness they want to be prepared to face in the event it manifests itself. For others, this expensive and sometimes rare coverage isn’t necessary. No matter what your current health is like today, it’s worth discussing your options with a professional if you live in North/Central New Jersey.
