fi-Plan Partners ? Making the most of Your Asset Building Years ...

05/25/12: As you enter and move through your peak earning years, you?ll likely see your net worth steadily increase. However, you will still have some planning to do before reaching your financial goals, which is why it is so important to a solid plan in place. Here are a two ideas to keep you on track.

1. Tax Planning
   Chances are your income tax bracket is higher now than it was during your early years in the workforce and is more than it will be when you retire. You should consider maximizing pretax contributions to your employer sponsored retirement plan or making deductible contributions to an IRA (assuming you are eligible) to help lower current income while providing tax deferred savings opportunities.?

   Also, remember that short term capital gains are taxed as ordinary income, while long term capital gains and dividends are taxed at lower rates.



2. Protecting What You Have
   As your wealth increases, it is important to preserve what you?ve accumulated and also, safeguard your future. Estate Planning and life insurance are two of the cornerstones of a sound financial plan. A qualified legal professional can be invaluable in assisting you with implementing an estate plan that is best for your situation and or review an existing plan to ensure it is still consistent with your goals.?

   At fi-Plan Partners, we work with a number of great estate attorneys and are happy to make introductions on behalf of our clients.

From a financial standpoint, mid-life should be a time to take advantage of your most productive years allowing you to better enjoy the fruits of your labor in the long run.

If you have any questions about your financial plan, please call me email me here.

Franklin Bradford, CMT
Vice President
Wealth Consultant

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Tags: investing, retirement

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