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How to Set (and Achieve!) Your Financial Goals This Year

The Key to Tackling Your Goals Lies in a Clear Vision and a Strong Plan
Thursday, 20 January 2022

How to Set (and Achieve!) Your Financial Goals This Year

If there’s one thing most of us have in common, it’s the experience of saving money incrementally for something that seems out of reach. Whether you’re a teenager saving up for a car, a college student saving up for a degree, or an adult saving up for a down payment on your dream home, you’re probably intimately familiar with what it feels like to have to put money aside to achieve a financial goal. You probably also know how challenging it can be to stay disciplined and motivated to reach the savings threshold you desire.

In order to successfully save enough to finance your long-term dreams, it can help to set specific financial goals. What is it, exactly, that you want to achieve? How long will it take you? What are the particular steps you need to take in order to be successful? Questions like these can help ensure that you’re on the right track – and that you stay on it.  

When it comes to goal setting, the new year always provides the perfect opportunity to take stock of where you are, what you want, and how to go about getting it. In light of the new year, here are a few tips and guidelines to help you set and achieve your financial goals – no matter how big or small. 

10 Keys to Greater Financial Well-Being in the New Year

A Guide to Setting Financial Resolutions and Overcoming Money Stress
Wednesday, 05 January 2022

10 Keys to Greater Financial Well-Being in the New Year

If you’re among the 73% of Americans for whom money is a source of stress in their lives, you may be considering a financial resolution or two for the New Year. You might also be unsure where to start or feel overwhelmed by the idea of tackling something that feels immense. Luckily, you can take small steps to create big change in your financial well-being as we move into the new year. Below, I’ll share 10 keys to greater financial health that you can use as a guide as you set your financial resolutions for the year ahead.

Three Reasons to Delay Taking Your Social Security Benefits

Holding Off on Your Benefits May Pay Off in the Long-Term
Monday, 20 December 2021

Three Reasons to Delay Taking Your Social Security Benefits

If you’re like most retirees, you may be planning to claim your Social Security benefits around the age of 62. Or, perhaps, you plan to hold off a bit longer until you’ve finally hit full retirement age, which is typically between the ages of 66 and 67. However, have you considered waiting even longer – until age 70 – to begin collecting Social Security?

The truth is, there are quite a few benefits that could come from being patient. Here are three main reasons why it may pay in the long run to delay taking your Social Security benefits until age 70.

Do Your Adult Children Need a Financial Advisor?

These Four Scenarios Signal it’s Time to Hire a Professional
Monday, 08 November 2021

Do Your Adult Children Need a Financial Advisor?

If you’re among the many people who wish they had begun taking financial planning seriously a bit earlier in life, you’re definitely not alone. It’s a common refrain we hear from clients and, while you can’t go back in time, you can encourage your adult children to avoid the mistakes you made.

Now, if your children are in their 20s, or are older but not earning much yet, there’s probably not much need for a financial advisor. However, life changes and careers evolve, and there will come a time when professional financial advice is both appropriate and needed. Below, we’ll discuss four triggering scenarios in your adult children’s lives that may make it the right time to seek out the services of a financial advisor in order to create a proper plan for the years ahead.

Freshen Up Your Money Habits for Long-Term Success

Seven Steps to Get Your Finances in Order for Retirement
Wednesday, 27 October 2021

Freshen Up Your Money Habits for Long-Term Success

Any time the season changes it brings with it a great opportunity to re-assess your current reality and revisit your plans for the future and long-term goals. For most people, envisioning a dream retirement is fairly easy – it’s not hard to picture yourself somewhere tropical with your toes in the sand, or hiding away in a cabin somewhere with your nose stuck in a book. Or perhaps your dream retirement is full of images of you baking with your grandchildren, surrounded by family. Whatever your dream retirement may look like, visualizing your future life isn’t the same as preparing your finances to make that dream a reality.

As we settle into fall, now is a great time to reconnect with your financial goals, get intentional with your investment strategy, and freshen up your money habits. If you’re looking to tighten up your finances, try using these seven steps below to get yourself back on track.

Planned Upcoming Tax Changes for 2021

The 2021 Tax Year is Bringing Some Surprises with It, but Here’s What We Do Know
Wednesday, 13 October 2021

Planned Upcoming Tax Changes for 2021

Financial planning provides a plethora of benefits; however, it also comes with many challenges considering it’s impossible to completely prepare for an unpredictable future. Despite the impossibility of being able to fully prepare for what the future holds, a smart financial plan can still provide you with the flexibility and strong financial foundation you need to respond to whatever the future brings.

Recently, there has been a lot of discussion about the tax plan put forth by Democrats and the corresponding changes it may bring. While there is still a lot that is unknown, some of the upcoming tax changes are certain and can begin being planned for. Below is a summary of some of the items that will change in the 2021 tax season.

Preparing Your Finances for Divorce

How to Avoid Costly Money Missteps When Your Marriage Ends
Wednesday, 06 October 2021

Preparing Your Finances for Divorce

Most of us don’t plan for divorce. Yet it’s still heavily prevalent and, when it happens, nearly every aspect of life changes – seemingly overnight. Divorce can be mentally, emotionally, and financially draining. It is also fraught with decisions that must be addressed so that, when the dust settles, you find yourself standing on solid financial ground.

Divorce nearly always impacts your money, as it completely undermines most of the financial planning and wealth-building that a couple accomplished during the marriage. Untangling two people’s money is a messy and emotionally challenging process. That’s why you’ll want to prepare your finances long before spousal or child support is awarded, or your post-divorce budget is in place.

Since each relationship is unique, so is each divorce, and this means specific planning advice can only come from experts who are familiar with your situation. Despite that, there are some overarching tips that can guide you on the right path, no matter what you’re dealing with.

Financial Literacy: How to Teach Kids About Investing

Five Fun Strategies to Empower Your Kids’ Financial Futures
Wednesday, 08 September 2021

Financial Literacy: How to Teach Kids About Investing

Now more than ever, we’re living in a world where it is important to have a firm grasp on money management and personal finance. When it comes to investing, there is truly no substitute for education and experience. And, when it comes to meeting savings and retirement goals, there is no substitute for smart investing. This is why it is so important to educate your children and grandchildren about personal finance while they’re young.

The daily hustle and bustle of life can make it hard to find the time to sit down and begin having conversations with your children about finance. However, by teaching basic principles like saving, interest, and risk and reward in your daily activities with kids, you can instill in them the financial literacy they’ll need to succeed financially as adults.

Five Financial Habits for a Comfortable Retirement

Feeling Secure in Retirement Requires Deliberate Planning and Strong Financial Habits
Monday, 23 August 2021

Five Financial Habits for a Comfortable Retirement

It’s not an overstatement to say that all retirees want to enjoy a comfortable and financially secure retirement. In order to save enough money to be able to make this a reality, most people begin saving at a young age and do so consistently throughout their working lives. However, practicing consistent healthy money habits is a challenge for many people.

If you’ve struggled with saving for retirement and fear you might be behind, there are things you can do to get yourself back on track. It will require you to get proactive and intentional with your savings and your financial habits moving forward. Though it may seem daunting, it’s not impossible. These five financial habits can help you catch up to your retirement savings goals and get you on the right track for a comfortable and financially secure retirement.

Four Tips for Transitioning into Retirement Successfully

The secret to making the switch lies in planning ahead
Wednesday, 07 July 2021

Four Tips for Transitioning into Retirement Successfully

Our natural inclination is to view retirement as a happy and stress-free phase of life – and it absolutely can be. However, when you’re transitioning into retirement it can feel disorienting and nerve-wracking. Making the shift from the working and saving phase of your life to the life of a retiree tends to be a rollercoaster of emotions, and this life pivot can be taxing for even those who are the most prepared.

Five Life Transitions Where a Financial Advisor is Helpful

Having someone you trust can help you make better decisions during unexpected times.
Wednesday, 09 June 2021

Five Life Transitions Where a Financial Advisor is Helpful

No matter your phase in life, the financial decisions that you make now are likely to impact your future. Navigating complex matters such as tax planning, establishing an estate plan, figuring out the right investment strategy, purchasing life insurance, planning for long-term care, or preparing for retirement can be incredibly overwhelming.

For certain financial matters, having a financial advisor at your side can help ensure that you’re making the right choice for your personal situation. The following scenarios are ones in which the help of an expert could significantly improve your financial and personal future.

Four Steps to Feel More Confident About Your Retirement Plan

Use these Tips to Better Prepare Yourself and Your Finances for Retirement
Monday, 24 May 2021

Four Steps to Feel More Confident About Your Retirement Plan

Retirement is momentous, isn’t it? Most people spend their whole lives saving, preparing, and dreaming of this time in their lives. You’re finally “off the clock” and have time to do the things you want to do. Maybe you’ve dreamed of traveling somewhere special, or reading that stack of books you’ve been neglecting, or spending more time with your family. Your retirement is supposed to be a time in your life that you can enjoy with minimal stressors and worry.

Unfortunately, for many retirees, retirement isn’t the worry-free dreamland that they imagined. Almost half of Americans report feeling worried about whether they’ve saved enough money to last throughout their retirements, with only 36% of people saying that they feel confident they’ve saved enough money to be comfortable in this phase of life. So, if you’re feeling more uncertain about your financial situation and retirement preparations than you’d like, know that you’re not alone.

Luckily, there are tangible steps that you can take to whip your finances into shape and improve your financial confidence in retirement. Here are four small steps you can take to help feel more confident about your retirement plan. 

Retirement Planning Mistakes to Avoid in the Era of COVID-19

What NOT to Do to Keep Your Retirement Plan on Track After a Crisis
Wednesday, 28 April 2021

Retirement Planning Mistakes to Avoid in the Era of COVID-19

There is no denying that the COVID-19 pandemic has impacted the financial security of many Americans, as well as becoming a stress test for retirement planning and saving. If this health and financial crisis changed your retirement plans or has left you feeling less secure in your retirement savings, you’re not alone. Though the economy is recovering, and things are beginning to normalize as vaccines roll out, it may take a bit more time to get your retirement plan back on track. Below we will discuss five mistakes to avoid so you can strengthen and protect your savings now and into the future.

Surviving Money Disagreements as a Couple

Open and Honest Communication Can Help You Turn Disagreements into Opportunities for Growth
Wednesday, 14 April 2021

Surviving Money Disagreements as a Couple

By nature, relationships can be fraught with challenges. As two people come together and begin to intertwine their lives and finances, there are many issues to navigate. Plus, busy schedules often leave couples feeling like they’re not spending enough time together, small things like dishes left in the sink can lead to resentment, and jealousy or control issues might permeate the relationship too. In short, relationships aren’t easy, finance issues aren’t easy, and combining the two can be challenging for any couple.  

Of the potential setbacks you and your partner may face, the biggest relationship roadblocks tend to be related to money. Financial issues can sink even the healthiest of relationships, so learning how to work with your partner – rather than against them – to navigate these challenges can ensure your relationship finds long-lasting success, and on firm financial footing, too.

Health Savings Accounts Offer a Tax Break for High-Earners

When used correctly, HSAs can be the ultimate tax savings strategy.
Wednesday, 24 March 2021

Health Savings Accounts Offer a Tax Break for High-Earners

Protecting as much of your earnings as possible is key to wealth building, making it imperative for high-earners to develop a savvy tax strategy. Health Savings Accounts (HSAs) are often a viable option, though they tend to be overlooked or misunderstood. When they’re used correctly, however, they can be a fantastic tool to have in your financial planning toolbox. An HSA cannot only provide an easy annual income tax deduction, but it can also create a dedicated, tax-free vessel of funds on hand to cover any healthcare costs you may encounter during retirement.

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Advisory Services are offered through TriCapital Wealth Management, Inc Securities offered through Triad Advisors member FINRA / SIPC. TriCapital Wealth Management, Inc. is not affiliated with Triad Advisors. We are licensed to sell Insurance Products in the following states: North Carolina, and South Carolina. We are registered to sell Securities in the following states: Delaware, District of Columbia, Florida, Georgia, North Carolina, Ohio, Pennsylvania, South Carolina, and Virginia.

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