End-of-Year Planning

{2:12 minutes to read} As things change:
Taxes may change.
Laws may change.
Medicare, Medicaid and Social Security may change.
Tax rates may change.
Estate planning rules may change.

And, yet some things remain the same. When it comes to money and financial planning, there are certain rules of the game that will always be applicable.

Additionally, nothing changes from the perspective of our philosophy of creating for each of our clients the proper present plan. That plan contains certain foundational philosophies:

• Adequate savings for liquidity;
• Insurance against liability, disability, death; long term care; and proper home, vehicle and business coverage;
• Proper titling of assets; coordination and integration of wills, trusts, insurance plans;
• Proper beneficiary designations.

These philosophies assure that things perform and work properly as an integrated and coordinated financial plan.

Now is the time to take stock and look at the big picture. We have attached a model to this newsletter so you can get a feel for where your plan is presently:

• What are the things that are missing?
• What are the gaps; the things you don’t have?
• What needs to get done?
• What needs to be implemented?
• Do you have the proper legal documents?
• Do you have your will(s) updated?
• Have you taken proper caution as to who are the beneficiaries of your insurance policies, your IRAs, the employee benefits at your company?

All of these things are foundational and no matter how much change is going to happen in the year to come, you will get a great benefit from having a properly designed financial plan.

Give us a call or contact us via email so that we can help you formulate the proper building blocks for your financial plan.

Registered Representative offering Securities through American Portfolios Financial Services, Inc. (APFS) Member FINRA/SIPC. Investment Advisory Services are offered through G&G Planning Concepts, Inc. which is not affiliated with APFS. Strategic Wealth Advisors Network and Gassman Financial Group are not affiliated with APFS.

Any opinions expressed in this forum are not the opinion or view of American Portfolios Financial Services, Inc. (APFS) or American Portfolios Advisors, Inc.(APA) and have not been reviewed by the firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.