Vivek Sulegai CFP®’s Post

Having a credit card is not your "emergency fund" Employer-provided health and term insurance is not your "insurance planning" Investing only in retirement accounts like EPF/PPF/NPS is not your "retirement planning" Investing in child investment plans is not your "children's education planning Investing in gold is not your "Children's Marriage Planning" Purchasing a few traditional insurance policies is not your "Tax planning" Having a nominee for your insurance & investments is not your "estate planning" "A personal financial plan is more than just investing" Get expert guidance! Consult a qualified financial planner to craft your personalized comprehensive financial plan today. https://zurl.co/H4PW #financialplanning #retirmentplanning #emergencyfund #taxplanning

Create a realistic budget and stick to it. Save at least 10% of your income for emergencies and retirement. Pay off debt as quickly as possible. Make sure you have adequate insurance coverage. Start planning for retirement and establish an estate plan. #financialplanning #budgeting #saving #debtmanagement #insurance #retirementplanning #estateplanning

The 10-year rule for IRA beneficiaries has been finalized. And whether you're an account owner or a designated beneficiary, it could affect your wealth and wealth transfer plans. The new rule requires that, with some exceptions, the entirety of an inherited retirement account must be distributed within 10 years of the owner's death. Because of this stipulation, some may wish to pursue Roth conversions or could use distributions from the account to purchase life insurance for a descendant. Decisions surrounding IRA inheritance decisions require a comprehensive understanding of the owner and their family's financial situation. Speak to your financial advisor to effectively structure IRA disbursements and plan your estate wisely. #RaymondJames #FinancialAdvisor

𝐇𝐀𝐏𝐏𝐘 𝐅𝐑𝐈𝐃𝐀𝐘 𝐋𝐈𝐍𝐊𝐄𝐃𝐈𝐍 𝐆𝐄𝐌𝐒: 𝐌𝐈𝐍𝐔𝐓𝐄 𝐕𝐈𝐃𝐄𝐎 𝐌𝐎𝐌𝐄𝐍𝐓: 𝐂𝐑𝐄𝐀𝐓𝐈𝐍𝐆 𝐀 𝐂𝐎𝐌𝐏𝐑𝐄𝐇𝐄𝐍𝐒𝐈𝐕𝐄 𝐑𝐄𝐓𝐈𝐑𝐄𝐌𝐄𝐍𝐓 𝐈𝐍𝐂𝐎𝐌𝐄 𝐏𝐋𝐀𝐍 Using 𝐦𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐬𝐨𝐮𝐫𝐜𝐞𝐬 of income in retirement can create a well-rounded plan that provides stability, flexibility, and growth potential. By combining social security, pensions, annuities , investment accounts, and personal savings you can design a retirement income strategy that aligns with your lifestyle goals and risk tolerance. - 𝐁𝐚𝐥𝐚𝐧𝐜𝐞 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡:  Secure income sources, like Social Security, pensions, and fixed annuities, can cover essential expenses, while investment accounts provide growth and inflation protection. -𝐀𝐝𝐚𝐩𝐭 𝐭𝐨 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧𝐬: Having a mix of accounts allows you to adjust withdrawals based on market performance, reducing the risk of depleting assets during downturns. -𝐏𝐥𝐚𝐧 𝐟𝐨𝐫 𝐓𝐚𝐱 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲: Structure withdrawals from different accounts to minimize tax impact, drawing from Roth accounts, tax-deferred and taxable accounts in the most advantageous way. ˢᵃᶠᵉᴹᵒⁿᵉʸ Stay safe and as much as possible………HAPPY! 😊> Spend your money on things money can buy; spend your time on the things money can’t buy.  Make it an amazing day. ᴵⁿᶠᵒʳᵐᵃᵗⁱᵒⁿ ˢʰᵃʳᵉᵈ ⁱⁿ ᵗʰⁱˢ ᵖᵒˢᵗ ⁱˢ ⁿᵒᵗ ᵗᵒ ᵇᵉ ᶜᵒⁿˢᵗʳᵘᵉᵈ ᵃˢ ˡᵉᵍᵃˡ ᵒʳ ᵗᵃˣ ᵃᵈᵛⁱᶜᵉ. https://lnkd.in/gY64cBEt

💯The Money Game has 3 different phases..... one of which is the distribution phase. In a lay man's language, it means "How much of the money you have accumulated over the years actually stays in your pocket when you need it? " This is deep🎯 Yeah....... If you truly desire to have a tax free retirement income, you have to be intentional about it and plan for it. It does not fall on your laps without you intentionally looking for it. 🎯A significant portion of your retirement income can be tax-free, primarily from accounts like Roth IRAs and certain types of life insurance policies such as Cash Value Life Insurance Policy. The tax-free nature of these accounts allows retirees to withdraw funds without incurring additional taxes, which can significantly enhance their overall financial stability and purchasing power during retirement. Awareness of tax-free income sources can influence your saving and investment strategies while you are still working. By planning early, you can allocate funds to tax-advantaged accounts, maximizing your tax-free income in retirement. As a financial professional, I am well versed in assisting my clients - Individuals and business owners to apply proven strategies that help minimize their tax exposure. We still have few spots open, it is the last quarter of the year, don't miss out on this golden opportunity of working with us. https://lnkd.in/gB8-9dds https://wa.link/atecs4 #RetirementPlanning #TaxFreeIncome #WealthManagement #IUL #FinancialLiteracy #TaxStrategy #InvestmentPlanning #Seekhelp #FinancialFreedom

Empower Your Financial Decisions: Only 33% of Americans have a financial plan—are you one of them? Dive into our guide on simple steps for retirement, tax savings, estate planning, and more. #FinancialWellness #SmartSavings #PlanAhead

Another simple estate planning tip. Review your 401k and IRA beneficiaries. 🔍 This sounds simple but it is overlooked by many. Remember, your retirement account beneficiaries supercedes your will and proceeds go directly to your beneficiaries, avoiding probate. ⚖️ If you are married and have children make sure your children are actually listed as contingent beneficiaries. This could mean the difference of them spreading out the taxes over 5 years vs 10 years. 💸 Review your beneficiaries annually with your financial planner and make sure your will and you retirement beneficiaries are set up the way you want. Make sure your life savings goes to your loved ones and not Uncle Sam. 💥

Your retirement plan isn't complete without long-term care (LTC) insurance. If you'd like to learn more or evaluate your current policy, I'm here to help! Let's talk: Schedule a phone call here ➡️ https://lnkd.in/gZdtPUM #LongTermCare #LTC #longtermcareinsurance #insurance #insurancebroker #insuranceagent #insuranceagency #retirement #retirementplanning #RetirementGoals #FinancialSecurity

This video asks the right questions about how you can save money for retirement without sacrificing your quality of life.

#InheritanceAdvice #RetirementPlanning #FinancialHelp Hey everyone! 😊 So, my husband is about to receive around $150k from an inheritance, but the total amount is still being sorted out since probate is just finalizing. We plan to see a financial advisor soon, but I thought getting some insights from you all would be helpful in the meantime. We’re both in our 50s and still have mortgages on our main home and our investment property. Currently, our financial situation isn’t the best; we have a small TFSA, an underwhelming high-interest account, and some RRSPs, but we’re feeling quite lost. 🏡💸 Here’s where the struggle comes in: my husband is super eager to retire and believes that the financial advisor can only help us if we clearly define our retirement goals and plans beforehand. But honestly, I’m not there yet. It feels like our views on retirement are colliding, and it’s causing some tension between us. 😟 We both dream of being Snowbirds, but while he’d jump at the chance to ... How Can We Align Our Inheritance and Retirement Goals? Answers: https://lnkd.in/grNYV5tW