You’ve worked hard for your money, and we will never forget that. Your money should be prudently invested with a focus on addressing your financial goals. For most of our clients, preserving capital is paramount. For many others, generating income to supplement your living expenses is crucial. Whatever the objective, proper investment management is the cornerstone of continued financial confidence. The following are some ways we work with you to pursue your investment goals:
- Creating a highly personalized, diversified and efficient investment portfolio
- Monitoring your portfolio on a continual bases, through various market cycles
- Considering tax consequences of your investments
- Regular rebalancing of investment positions
- Setting up tax-efficient college savings plans for children, grandchildren, etc.
- Advising on unique questions such as the financial impact of installing solar panels or selling your home
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss.
Retirement planning today has taken on many new dimensions that earlier generations never had to consider. Life expectancy is increasing. Medicare costs are rising. Tax and estate laws are ever-changing. You’ve worked hard and deserve to move confidently into retirement, which is where we come in. We will work with you on a host of retirement issues:
- Advising on when retirement could be financially viable
- Analysis on maximizing Social Security benefits
- Creating a “Required Minimum Distribution” strategy when you turn 70 ½
- Determining appropriate distribution rates from your investments to supplement living expenses
- Educating clients on relevant changes in tax and estate law
- Forecasting the impact of saving and investing leading up to retirement
- Helping young professionals accumulate assets in a tax and cost-efficient manner
Tax planning is an essential component in working towards a successful financial plan, especially in retirement. The tax code isn’t getting any simpler and we feel it is imperative to have discussions with your financial advisor regarding taxes resulting from your investments. The following are some tax planning discussions we regularly have with our clients:
- Providing options to you for the most tax-efficient distribution plan
- Tax-loss harvesting for your taxable accounts
- Retirement/investment contribution recommendations based on unique tax situation
- Income shifting strategies when applicable
- Assisting in establishing beneficiary "stretch" IRAs designed with a goal of stretching tax advantages to your heirs
- Staying up-to-date on and presenting new tax laws that can affect your situation
- Strategies on unique questions such as charity donations, industry-specific tax credits
LPL Financial and CML Wealth Management do not offer specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
At CML Wealth Management, we help you manage your assets while you're here, but do you have a plan for the management of your assets when you're gone? What does one spouse do if the other passes away? What decisions do beneficiaries need to make with the death of a loved one?
As much as we would love to, none of us can see the future and it's important to be prepared. Having a will or trust is an essential part of that preparation.
If you are interested in giving your documents an update or a closer look, CML Wealth Management has a network of estate attorneys to help. Together we have the experience and knowledge to help you towards successfully navigating the next step for your assets.
A successful risk management strategy will help you in the moments that you need it most. If tragic events like death, disability or critical illness strike, insurance can protect you and your family from undue hardship. We feel it is important to help our clients hope for the best but prepare for the worst by:
- Examining existing policies to make sure premiums stay competitive
- Originating long-term care insurance when appropriate
- Reviewing term and permanent life insurance policies to assure coverage is adequate
About LPL Financial
LPL Financial is one of the nation's leading financial services companies and a publicly traded company on the NASDAQ under ticker symbol LPLA. The firm's mission is rooted in the belief that objective financial guidance is a fundamental need for everyone. LPL does not offer proprietary investment products or engage in investment banking activities; this means advisors affiliated with LPL are not pressured or influenced by LPL to sell its products. Thousands of financial advisors nationwide are able to rely on the firm's tools and resources to help them provide financial guidance and recommendations to help meet their clients' needs. For more information about LPL Financial, visit www.lpl.com.
* As reported in Financial Planning magazine 1996-2017, based on total revenues.