What impact will rising income tax rates have on my retirement? Do I understand the tax impact of leaving my retirement assets in trust? How will my retirement account distributions impact my taxes? In the current environment, where market volatility has returned and asset values have come down from their highs, there may be some unique opportunities now available for desirable short-term outcomes.
Will this market decline and volatility change my plans? Will I still be able to retire when I had planned to? In Financial Planning, it is critical to understand if your current actions are enough to accomplish your goals, as well as what changes could knock that plan off course. Stress testing your portfolio can give you confidence that things are in order, even when life seems to be derailing.
In our present and uncertain times, sitting down to do long-term planning may not be a top priority but it should be. There is enormous value in assessing your financial condition in connection with your evolving goals and aspirations. In this brief video, Fairman Group Partner, Shawn Kindt, CPA/PFS, CFP®, discusses the importance of evaluating your financial situation to help determine—and plan for—the next chapter of your life.
The April 2020 edition of Fairman Group Perspectives highlights returning to work after COVID-19, coronavirus scams, rebalancing portfolios, and CARES Act distributions. Learn more!
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