The Greatest Retirement Risks (And How to Avoid Them) – Part I
Why Tax Rates Are Likely to Rise – And Why it Matters to Your Retirement Plan At Chapman Private Client Services, we focus on providing personalized plans tailored to each client’s vision for their retirement lifestyle. Part of this process involves addressing two major risks that can undermine financial security in retirement. Many people face significant challenges to maintaining long-term financial stability and often worry about outliving their savings. By identifying and planning around these key risks, we help clients work toward a more financially confident retirement. This is the reason we specialize in tax-efficient – and even tax-free […]
Tax-Deferred Retirement Plans: Are They a Catch-22?
Learn Why Your Retirement Plan Could Be Based on a Faulty Assumption At Chapman Private Client Services, we believe our commitment to educating our clients is one aspect of our offerings that sets us apart. The following article on tax-deferred retirement plans is partially excerpted from The Power of Zero, by David McKnight, and we hope you’ll find it eye-opening as you plan for a tax-efficient retirement. So many clients come through our doors having followed advice from so-called financial gurus who tell them it’s okay to have all their assets in tax-deferred accounts because they’ll be in a […]
Maximizing Your Social Security Benefits: Timing and Tactics
Learn How You Might Utilize a Thoughtful Approach to Optimize This Income Stream As you begin your retirement planning journey, one important element to focus on is Social Security. Navigating the complexities of Social Security benefits requires careful thought, as there’s no universal strategy that works for everyone. You have options, and you’ll need to think about when to claim and use specific approaches for maximizing Social Security benefits over the long term. In this article, we’ll explore the critical factors involved in maximizing Social Security benefits, including the best timing and strategies for retirees to consider.
Creating a Lasting Legacy: Strategies for First-Generation Wealth Building
Strategies to Manage and Grow Your Assets for the Next Generation If you have a desire to build wealth from the ground up for yourself and your loved ones, then you are considered a first-generation wealth builder. Building generational wealth that will support you and your family now – and for generations to come – requires you to use the right financial strategies. While it can certainly seem overwhelming to figure out where to start and what future steps are necessary, having the right information can help you proceed with confidence. Below, we discuss four strategies for building generational […]
Tax-Efficient Estate Planning Tips for High-Net-Worth Families
Strategies to Manage Your Wealth Estate planning can be complex, both from a legal and financial perspective, as well as a personal one. Thinking about the end of your life can be fraught with emotions, but it’s an important undertaking if you want to have confidence in knowing that your assets will be distributed according to your wishes. If you are a high-net-worth individual with significant assets, estate planning is a process that requires careful attention because you will want to employ tax-efficient estate planning strategies to leave your heirs with the lowest tax burden possible. Below, we’ll discuss […]
Investing Fundamentals: Building Wealth for the Future
Learn the Fundamentals to Develop a Comprehensive Approach Effective financial planning and management can play a role in wealth building. A solid wealth-building strategy can help you prepare for potential financial emergencies and work towards a comfortable retirement. Many people don’t understand that to truly build wealth, you need to do more than just save the money you make — you need to develop a long-term investment strategy. Here’s a look at the investing fundamentals you should know. Start by Understanding Investments You’ve likely heard this oversimplified financial advice: “Invest!” Investing can be a tool for building wealth, but […]
Decoding IRA and 401(k) Rollovers: A Potential Approach to Retirement Planning
How to Maximize Retirement Accounts from Former Employers The journey to retirement spans a lifetime, marked by the pursuit of a fulfilling post-work life. Many Americans switch employers during their careers, resulting in the retention of 401(k) accounts from previous jobs. However, these dormant accounts – sometimes referred to as “orphan 401ks” remain stagnant, unable to receive contributions or management from former employers. One solution is to explore 401(k) and IRA rollovers. In essence, these maneuvers allow you to transfer the balance from inactive retirement accounts to active ones, providing control and the ability to continue contributions. This article […]
Why Diversifying Your Retirement Income Streams Matters
The Power of Diversification in Managing Your Retirement Retirement is one of the most significant milestones in life. It represents the culmination of years of hard work and savings, but it also marks the beginning of a new financial chapter. Fostering a comfortable and stable retirement requires careful planning, and a key component of that planning is creating diversified retirement income streams. Diversification can help to mitigate risks and potentially enhance financial stability during your golden years. Read on for more about why you need to develop a diversification strategy today. The Traditional Approach: A Single Income Stream In […]
Small Business Success: Financial Planning for Entrepreneurs
Managing your business finances strategically can support efforts toward achieving financial stability. Small businesses represent a crucial pillar of the U.S. economy, as they employ half of the nation’s private-sector workforce and are credited with roughly 63% of the new jobs that have been created from 1995 to 2021, as per federal statistics. Despite their pivotal role in the economy, small businesses often grapple with challenges on their path to success. To illustrate, the U.S. Bureau of Labor Statistics has documented that 20% of small businesses fail during their inaugural year, with merely one-third managing to endure the ten-year […]
Estate Planning Essentials: Our Approach to Asset Management
Developing a Comprehensive Plan to Manage Your Family’s Financial Future Estate planning is not just about managing your assets or distributing wealth; it’s about leaving a legacy that lasts for generations. Investing can be a strategy to potentially manage and grow your hard-earned assets and values for your loved ones. This article aims to provide an overview of estate planning and its potential benefits for our approach to asset management
