Ted Ritchie

The importance of employee retention plans – guide for advisors As an advisor, you know how important employee retention is for clients who own a business. The “Great Resignation” reshaped the workforce, but as Robert Keebler says, it’s also a “Great Upgrade” – an opportunity for employers to elevate their employee retention game. In this article, Keebler describes various strategies, such as non-qualified deferred compensation plans, that can help your clients keep their key employees onboard. https://bit.ly/3ywQgag

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Do you know the meaning behind the Ameriprise Financial Compass? Let me tell you about it. The compass comprises 3 symbolic components: The ARROW points to the Northeast. It represents the forward and upward direction that we offer our clients. The STAR represents the creativity of our organization, the hopes and dreams of clients and our drive for consistent, competitive performance. The CIRCLE represents our comprehensive approach to the financial well-being of our clients and our range of products and services to meet their needs. It also illustrates an ongoing relationship with our clients. #PlanwithWSP #FinancialAdvisor #AmeripriseFinancial

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Donovan Clingan's reported 4-year, $31.1 million contract with the Portland Trail Blazers is a dream come true for the fellow Connecticut native. But let's face it, even with that hefty sum, securing your financial future requires more than just an incredible rookie deal. Here's why: 1. Understanding Taxes: If Donovan earns $6.8 million in his first year, federal, state, and possibly local taxes will take a substantial portion. The federal tax rate for high-income earners can be around 37%, and Oregon has a top state income tax rate of 9.9%. After deductions, that is substantially less for the rookie sensation. 2. Sensible Spending and Budgeting: Living in Portland can be expensive, especially with property taxes, maintenance, and other living costs. It's important for Donovan to create a budget that prioritizes essential expenses, savings, and investments while avoiding the temptation to overspend on luxury items. 3. Investing Early: By investing a portion of his salary early, Donovan can benefit from compound interest. For example, investing $1 million at a 7% annual return could grow to nearly $2 million in roughly ten years. Consistent investments can significantly boost his wealth over time. 4. Leveraging Early Earnings: Donovan's NIL endorsements with companies like Dunkin' and Skims have already provided him with a financial head start. By wisely managing these earnings and investing them, he can build a solid financial foundation that complements his NBA salary. 5. Financial Planning and Advice: Engaging with a financial advisor can help Donovan create a tailored financial plan that aligns with his career and life goals. Advisors can provide insights on tax strategies, investment options, and long-term financial planning. Most importantly, having a proper estate plan in place to ensure proper asset protection and a clear plan of how Donovan’s wishes want to be laid out. 6. Preparing for Life After Basketball: Professional athletes often have shorter careers, so planning for life after basketball is essential. This includes diversifying income sources, investing in education or new skills, and preparing for potential business ventures. In closing, Donovan has a bright future ahead of him and he should be very proud of all he’s accomplished at such a young age. I can’t wait to see what the future holds for one of my all-time favorite Huskies! #BleedBlue #Retirement #WealthManagement #FinancialPlanning

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Could you have an issue similar to a leaky pipe? Many people delay looking at their finances until it becomes urgent Even though you may not have a deadline to improve your finances here are a few reasons you may want to: #financialplanning,#retirementplanning,#massachusetts,#financialindependence

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Revocable trusts are much more common than irrevocable trusts because they provide many important estate planning benefits. Find out more! https://lnkd.in/exjtPAqW #AnchorWealthManagement #financialadvisor #wealthmanagement #retirementplanning #financialplanning #BeginYourJourney #Embark #AnchorintheNews #SmartVestorPro #Kiplinger #estateplanning #revocabletrusts

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July is here, making it the perfect time for a mid-year financial review. Let's ensure your financial goals are on track and make any necessary adjustments together. Reach out to schedule your review today at [email protected]?utm_source=linkedin

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Donor advised funds and private foundations are powerful giving vehicles. Determining which to set up comes down to your goals and what you're hoping to achieve. https://lnkd.in/eyUV5BUa https://lnkd.in/e63PrNTK ​

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