There’s a never-ending supply of financial advice out there. One person may tell you to open a Roth IRA and max it out. Another may tell you to open 529 college savings plans for all your kids. At the end of the day, you may not even know which advice applies to your situation and which doesn’t. It can feel completely overwhelming.
It can be hard enough to manage your finances when your circumstances are relatively simple, let alone when you have extra challenges due to a life transition. Since there is no one-size-fits-all formula for creating a financial plan that will make your goals a reality, you need customized financial guidance from someone who is familiar with your situation and can help you navigate the complicated decisions and opportunities you face.
A lot of people used to think that 4% was a safe withdrawal rate. If you only withdrew 4% of your retirement savings a year, it would be enough to last at least 30 years. This meant that if you needed $120,000 a year to live comfortably in retirement, you could save up $3 million and be set for life.
As a Certified Divorce Financial Analyst (CDFA®), I spend a great deal of my time helping individuals navigate the financial implications of divorce. Today I want to share a case study of how I helped one client find financial clarity and confidence after her divorce.
If you’ve found yourself with an unexpected windfall, you may be wondering what you should do with it. Here are 5 smart moves you can take today to set you (and your newfound wealth) up for success.
At JGP Wealth Management, we specialize in providing wealth management solutions to high-net-worth families, including business owners, Nike executives, and pre-retirees. We help our clients address their financial concerns and build upon their unique strengths so they can confidently live the life they want—because helping you live your dreams is what we do best.