April 2009 |
Wednesday, April 15, 2009 |
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Tax Planning as You Age
 While tax planning should be a consideration through all phases of life, the nature of that planning changes as you approach retirement age. During your working years, your primary tax-planning objectives are to reduce your current income taxes while saving for retirement. After decades of accumulating money, you now need to ensure you withdraw and manage that money properly. Here are some tips.
[FULL ARTICLE]
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A Review of Your Portfolio
 With the recent market declines, it may be painful to reevaluate your portfolio in depth, especially if your portfolio contains large losses. But this review is necessary to see if changes are needed to your portfolio. Some factors to consider include...
[FULL ARTICLE]
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Encourage Your Children to Fund IRAs
 Once your children start working, help them develop good savings habits by encouraging them to fund an individual retirement account (IRA). Even if your child only contributes for a few years, an IRA can provide significant funds for retirement.
[FULL ARTICLE]
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How Much Do You Need in Retirement?
 One of the most critical factors in determining how much you need to accumulate by retirement age is how much annual income you'll need in retirement. But if that retirement date is years or decades away, it may be difficult to come up with a reasonable estimate of your income needs. Most people will want a standard of living similar to the one they're living before retirement; so simple rules of thumb, like 70% of preretirement income, may not give you an accurate estimate. Follow these tips to estimate how much you'll need.
[FULL ARTICLE]
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What's Your Score?
 How is it that you can apply for a mortgage, credit card, or car loan over the phone and be approved or declined in a matter of seconds? For speedy access to credit - and the mountain of credit card "preapprovals" you get in the mail each month - you can thank an invention called the FICO score.
[FULL ARTICLE]
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Michael has been helping investors achieve their goals for the past eight years. He began his career with Fidelity Investments, and then in 2002 he launched his independent advisory practice.
Michael is among a select group of 150 investment professionals in the US to hold certifications in wealth preservation (CWPP) and asset protection (CAPP). Using this expertise, Michael helps our clients to minimize tax expense, protect their assets, and plan their estates with some of the most effective strategies available to investors and business owners anywhere today. He also holds Series 7, 63, and 65 securities licenses.
Michael currently resides in Prosper, Texas with his wife Barbara, and son Zachary.
Feel free to contact Michael via e-mail at
michael@selectwealth.net
or visit our Web site
www.selectwealth.net
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Published by Michael Sylkatis
Copyright © 2009 Integrated Concepts Group, Inc.. All rights reserved.
Securities and advisory services offered through VSR Financial Services, Inc., a registered investment adviser and member FINRA/SIPC. Select Wealth Management and VSR Financial Services are not affiliated companies.
Some information provided in this newsletter was prepared by Integrated Concepts. This newsletter intends to offer factual and up-to-date information on the subjects discussed, but should not be regarded as a complete analysis of these subjects. Professional advisers should be consulted before implementing any options presented. No party assumes liability for any loss or damage resulting from errors or omissions or reliance on or use of this material. |
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