Archive for August, 2010

The Changing World of Retirement Planning

August 26th, 2010

If you’ve tuned in to any news program over the past year or two, you’ve probably noticed that our economy is changing. Our Fort Worth Wealth Management Group can help provide you with a custom-tailored plan to suit your needs, but here are the basics.

If you’re receiving Social Security, you are likely aware that the government is paying out more benefits than they’re receiving. By 2037, Social Security will be exhausted and beneficiaries will begin receiving only about three-quarters of what they should be, barring any Social Security reform. When Social Security was instituted in 1935, the life expectancy was 62; that’s not that case now. Retirement planning is crucial to avoid the eventual downward spiral of the Social Security program.

We all know that private pension plans have failed all over the place, and many more companies have just discontinued their plans without any warning. To pour salt on the wound, the government backup for failed plans is massively underfunded by billions of dollars. Even state and local government plans are at risk of failure. Contacting a Fort Worth financial advisor is key to planning past your pension.

Inflation is also important to consider. While the rate of inflation hasn’t generally seen any major spikes yet, they will soon – because of our country’s financial state. Inflation has, in the past, gone up to nearly 14%. If it got that high again, what would happen to your hard-earned savings? Robinson Wealth Management Group can help you plan for the unthinkable – give us a call today.

Annuity Factors for Consideration

August 19th, 2010
Fees: Determine whether the yearly fees imposed on a considered annuity plan are worth the benefits you may receive; and find out if the plan puts “surrender fees” into effect if you want to make a premature withdrawal. A wealth management firm in Fort Worth TX can help you consider these options.
Return Rates: Make sure that the rate of return promised by the insurance company selling the annuity is the actual rate that you will receive. Confirm the time period during which that rate will apply. Occasionally, the guaranteed fixed annuity rate decreases after the introductory period. Double-check the long-term financial qualifications of the insurer, since it has promised to pay you benefits over the course of many years.

Tax Advantages: Consider this: you will have to pay income taxes on payouts your receive from your Fort Worth annuity program. You will be forced to pay a tax penalty if you withdraw money before you reach the age of 59 1/2.

Inflation: The amount of income provided by an annuity may decrease in the face of adverse inflation. You and your financial advisor in Fort Worth can decide to take part in an inflation protection program.

Contract Terms: Consult a Fort Worth financial advisor before you obtain an annuity contract. These contracts can be extremely complicated. Also be aware of advice to switch to a new annuity plan, however. High surrender charges could apply if you change plans before the original surrender period has run its course.

For more information, please contact our Fort Worth wealth management firm.

Benefits of Tax Planning

August 12th, 2010

There are an overwhelming amount of strategies that you should be aware of when creating a plan for your wealth. A wealth strategy that helps you minimize taxes on your income should be included in those options. Everybody has different financial situations; so no two tax strategies are exactly alike. Customizing the right tax plan begins with answering questions like: “Which current Fort Worth tax laws exist?”, “Which Fort Worth tax laws affect me?”, and “How can I create a reduction plan for the Fort Worth taxes that I owe?”

Individuals and businesses can equally benefit from a solid Fort Worth tax reduction plan. Individuals benefit by the reduction of taxes on wages and other types of taxable income. From a business perspective, the more after-tax income savings, the greater the profits a company will have to reinvest into your business’s operation expenditures. This will also lead to an increase in owner and shareholder profit.

A tax plan should be in place the moment that there is income that is prone to taxation. In the past, tax advisors created strategies to aid wealthy citizens reduce in liability scenarios. However, there is now a greater need for taxpayer informativeness, in order to show certain individuals how to benefit from tax-reducing and tax-saving options. A Fort Worth Tax Advisor can show you how to apply these moves throughout the year for ideal, maximum savings.

To get assistance developing a tax plan seek the advice of one of our qualified Fort Worth Wealth Management professionals.

Surviving the Recession

August 5th, 2010

Although it seems as if the recession has leveled off, and may possibly be improving, financial responsibility is important – especially if the recession continues longer than expected or we experience a double-dip recession. Our Fort Worth Wealth Management Group can help you.

The key is to become financially educated. Overspending, cutting instant gratification buys, and using basic thrift are common, but their aid can only take you so far. It is critical to partner with a professional who can advise you on asset management, retirement planning, and other financial attributes.

A company such as our Fort Worth Wealth Management Company helps in achieving long-term wealth and long-term profit. It may provide many services like investment management, portfolio balancing, financing solutions, trust and estate management, tax advice, and more. They will also be able to provide you with personal banking and insurance advice.

With a recession comes swirling (and often conflicting) opinions about how you should manage your money. Lower and middle class citizens have debt piling up, while we hear stories about upper class citizens who mismanage their wealth and lose it all. The truth is, people need a qualified economic advisor who understands their situation and their goals to help them weather the economic storm. Our professional Fort Worth Financial Advisors can help.