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With so much to say about retirement in South Orange County, Calif., it may all just start to seem like noise after awhile. Some people are planning to save a million dollars, while others are focusing on investment strategies today that will take care of them (and their loved ones) in the future. There’s so much to consider and so much to worry about, that some are just hoping that they’ll sort it out when the time comes.
Whether you just want a little guidance or you’re not sure where to start, talking to a financial advisor can have everything to do with where you wind up when you’re ready to relax and unwind. At TurningPoint Retirement Strategies, you’ll find Leon James, a qualified professional who can take your portfolio to the next level.
How to Secure Your Retirement
Income planning is an art form when it comes to your retirement. The good news is that anyone can take advantage of its tenets, regardless of how much money they make and where they see themselves by the time they hit their retirement age. While a modest apartment and lifestyle will require less money than extravagant trips all over the world, the reality is that both scenarios need to account for the unexpected. When you work with a boutique retirement firm, you have the chance to form a relationship with the staff that results in more peace of mind.
Social Security, pensions, rental properties, dividends, bonds—a financial advisor can show you how each bit of income will contribute to your overall future. This isn’t about taking unnecessary risk but about leveraging opportunities to make the most of your earnings. If you ever start to feel like there are too many figures to keep track of, Leon can boil down the essentials for you:
1. Specify exactly what you can save every month.
2. Allow a financial advisor to manage a portion of your wealth.
3. Sit back and give yourself a chance to enjoy the fruits of your labor.
Retirement Income Planning
If you ask, “how much do I need to retire?”, you might get several answers depending on who’s answering the question. The reality is that no one really knows how much they need to retire, because it’s different for every individual in question. Convenient answers, such as $1 million in savings, are certainly tempting to repeat, but they don’t represent the nuances behind retirement income planning.
This is why a financial advisor like Leon James at TurningPoint Retirement Strategies can be so helpful to anyone trying to map out what they want their golden years to look like. If you’re inching toward your retirement age, turning to a boutique retirement firm can be exactly what you need to get a real handle on your finances and whether they’ll be strong against the road ahead.
How to Plan Your Retirement Income
The most acceptable strategy for retirement today is to avoid a transition between your working years and your retirement years. If you replace the income from your job with another form of income that is every bit as reliable, it’ll make it far easier to budget every month. You’ll be able to pay for it all, whether it’s standard monthly bills or an unexpected emergency, and you can do it all without endangering your savings.
The key to planning for your retirement is to diversify the type of income you have coming in, a metric that will differ for everyone depending on their interests and their relationship to risk. Some people will want passive income coming in through rental checks from real estate properties. Others will rely on a combination of dividends and Social Security.
Exploring your options with an advisor is the key to comprehending the underlying tactics of income planning before implementing them in a way that’s comfortable for you and your family. Retirement may not follow all of the same rules as your working life, but there may be more similarities than you’re aware of. These commonalities can end up making a real difference in your lifestyle.
Investing
Investing is a game for some people. It’s a gamble that gives them adrenaline when they make the right moves. For others, it’s a much more strategic decision, one based on everything from the latest headlines to textbook tips. Still others get into investing inadvertently, not even realizing that what they own is appreciating at a rapid rate.
No matter what type of person you are in South Orange County, though, your investments can play a huge role in the health of your portfolio. Talking to a financial advisor can help you sort out just how much wealth is under your umbrella and what can be done to maximize it.
Where to Turn for Investment Advice
Real estate property, action figures, stocks, NFTs—these are all viable options for investors today, and who knows what opportunities will present tomorrow? When you have a nearly endless slate of options in front of you, the question quickly becomes how to best narrow it all down. A financial advisor can not only take into account what you already have, but how those assets can be leveraged to build an even stronger financial profile. At TurningPoint Retirement Strategies, the staff gives you the kind of tips that will sustain you and your descendants for as long as possible.
If you’re trying to prepare for retirement, the reality is that you’ll need to find some core tactics that work for you. Contrary to popular advice, this does not always mean diversifying. Some people may need to rein in their investments so they can focus on the industries that they know most about. Others will need to branch out a little, even if a fear of risk tends to hold them back. The right advisor will be able to work with people from every background, learning their investment style and then pushing them just slightly outside their comfort zone to ensure that they’re getting the best possible returns for every dollar they put in.
Maximizing Social Security
Social Security was originally designed as a safety net for those who were no longer able to make a living. Today, that concept is still theoretically the same, but the execution is very different. Since the program began in 1935, the number of changes and adjustments to the code is truly remarkable, and an illustration of how opportunity can shift drastically from one generation to the next.
That being said, Social Security can be an important part of your retirement plan —if you know how to maximize your benefit check. It won’t cover everything, but it may cover more than you think. How exactly is this possible? A financial advisor like Leon James at TurningPoint Retirement Strategies can tell you more.
How to Maximize Social Security
Social Security is based on you and your history of work. So, if you have a cousin or a neighbor who receives next to nothing every month, it’s important to know that your experience may be very different than theirs. From how much you paid into the system to what industry you worked in, the right financial advisor will be able to button up every form and answer every question. The goal is to ensure that you don’t leave anything on the table.
The regulations and restrictions from the government often make the application process far from straight forward. If you make a mistake that isn’t in your favor, an official is unlikely to call you and point out the error. And while you are allowed to make corrections, the process of doing so can take quite some time to complete.
The complexity of it all isn’t impossible to navigate, but there’s a reason why so many advisors have been able to get their clients more money. They know how to read the forms and what information they need to provide. If you’re interested in maximizing Social Security, working with a boutique retirement firm like TurningPoint can be exactly what you need to add a little extra income to your plate every month.
Long-Term Care
The way a person’s retirement unfolds has as much to do with their finances as it does with their health. Whether they have family histories of certain genetic disorders or not, the reality is that people may need more medical care during their golden years than they realize.
Serious illnesses and injuries are not only difficult for people to manage while they’re under the direct supervision of doctors, but they may also need help with daily living activities, such as bathing, eating, or running errands. If you want to avoid this scenario, it may mean getting additional coverage so you have something to fall back on.
Long-Term Care (LTC) insurance is a type of policy that can be helpful if you want to protect your portfolio. It covers additional expenses that your health care policy likely doesn’t. In one study, it was found that people with the policy paid about six times less than those without.
At TurningPoint Retirement Strategies, you can speak with a financial advisor who can tell you more about whether the asset is worth the cost of the premium.
Why Choose LTC in South Orange County?
The reality is that not everyone should choose this type of insurance. However, it is strongly recommended that you consider what the policy would mean for the rest of your investments. If your savings are drained by the costs of a home health aide or a nursing home, it may wipe out all that you’ve managed to amass over the years.
A qualified financial professional can tell you more about the carriers who offer this form of insurance and their terms. Some companies will attach incentives to their terms, allowing the policy to be used in some form should you end up never having to use it. For some clients, it would make sense to skip this policy in lieu of a different kind of protection. Whatever you end up needing, you can trust it will help you prepare for retirement when you choose TurningPoint.
Wealth Management
Wealth management typically applies to the wealthy, though its principles should be familiar to anyone familiar with the financial world. Investments, trusts, estate planning: it all matters if you’re trying to keep your assets under control.
Having the right advice when you’re trying to make sense of it all isn’t just handy, it’s downright necessary if you want to feel prepared for your retirement. If you can’t control the market, the best thing you can do is keep your portfolio intact when the chips are down while trying to maximize it as everything starts to swing back up again.
Wealth Investment in South Orange County
At TurningPoint Retirement Strategies, you’ll find a staff that can help you understand how your assets are performing as a whole and where your margins can be improved. Leon James is an advisor who understands how asset wealth management can work to protect you from the inevitable twists and turns in the economy. For those who have accumulated a certain amount of wealth, it can provide peace of mind about their future.
Whether it’s an account that has plateaued or a time-sensitive investment opportunity, the reality is that wealth management takes a lot of time and effort to do correctly. Reputable wealth management companies aren’t just there to push financial products. These are businesses that only succeed when their clients make money. If you want to feel confident about the performance of your portfolio, you can speak with someone who will do more than repeat a few stock answers.
This is the difference between the big names and a boutique retirement firm. The staff at TurningPoint takes the time to learn more about how you want your assets to be used. So, if you want to fund some or all of your descendants’ higher education, an advisor can help you plan for this, so you have enough for everyone. No matter what you’re looking for, this service has a way of opening more doors than you might have imagined.
Assets Under Management
The term “assets under management” refers to how certain financial rules and principles apply to all of your holdings. Whether you favor real estate or stocks, assets under management services ensure that you know what’s happening and which decisions will benefit your portfolio. If there’s an event that’s likely to affect your wealth, such as a new law being passed in South Orange County area, an advisor ensures that you have all the information beofore it has the chance to impact your margins.
What Are Assets Under Management Strategies?
When it comes to your assets, there’s a lot to think about. Not only do you need to understand their inherent value, but you also have to do some degree of forecasting for the future. This is likely a pretty easy task at the beginning of your investment career. When you make your first one, it’s new and maybe even has an element of danger to it. You might track it for months on end, debating its relative fluctuations and comparing it to the rest of the markets.
However, the reality is that the excitement wears off over time, and your accounts may understandably start to stagnate when this happens. If you can’t name all of your accounts, let alone how those accounts are holding up year over year, it can set the stage for some devastating losses. This is why talking to a financial advisor can make a difference if you want your portfolio to maximize its potential.
At TurningPoint Retirement Strategies, a boutique retirement firm, the staff is here to show you which strategies will help you prepare for the future. Accruing wealth over time isn’t just a matter of saving, it’s a matter of keeping careful track of how your money is working for you (or in some cases, against you). If you’re ready to get more from your returns, the advice from a reputable financial professional can be everything you need to revamp your assets from the ground up.
