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Trust MacNeil Financial Services for a Secure Tomorrow
If retirement strategies feel like a moving target to you, you’re not alone. With unpredictable economic forces affecting everything from your pension to the cost of a dozen eggs, the reality is that you’re trying to plan for contingencies that would be difficult for anyone to foresee.
A financial advisor may not have a sixth sense, but they are adept at understanding how you can give yourself an edge as you get ready for the next phase of your life. If you don’t want to find yourself scrambling to put it all in order at the last minute, the right advisor can show you how securing income for your retirement can settle the vast majority of your concerns.
The Rules of Retirement in Utah and Salt Lake Counties
At MacNeil Financial Services, Julie MacNeil has mastered the principles of financial security for retirees. What’s more, she’s learned how to adapt her approach, regardless of what her clients are looking for. It’s clear that some retirees will want to minimize their expenses during their retirement years. Others will want to see the world in first class, relishing the moments they may have delayed while they were working.
No matter what a client is looking for, though, they’ll need to account for their own needs, which can include anything from home maintenance fees to healthcare costs, as well as those of their loved ones. If a pair of grandparents ultimately decides to cover the costs of their grandchild’s degree, MacNeil wants to give them every chance at being able to do so without sacrificing their own quality of life.
Retirement comes down to having as much money as possible coming in every month, but that doesn’t mean solely relying on your savings account. If all of the potential paths start to get overwhelming, just remember:
1. Settle on a reasonable figure that you can save every month.
2. Let your advisor manage a portion of your wealth with the goal of aggressive growth.
3. Give yourself permission to kick back during your retirement.
Our Services
Retirement Income Planning
Income planning for your retirement is a financial strategy that draws heavily from how you save and spend your money during your working life. Instead of relying on your emergency reserves to pay the vast majority of the bills, you cobble together revenue from different sources, so there’s more coming in and less going out. If you’re in Utah and the Salt Lake counties, a financial advisor can tell you everything you need to know about why this financial concept has become the gold standard in retirement planning.
How Much Do I Need to Retire?
This common question is asked so often, and not only because it’s a somewhat subjective answer. The way the economy moves, it may only take a few months before the answer changes. When inflation can reach sky highs in a matter of days, having the advice of a finance expert can help you leverage your wealth so there’s a strong enough base to handle nearly any storm.
With retirement income planning, an advisor will consider how you can ensure that your total income matches your expenses. Ultimately, this will mean different things for different people.
For instance, you might determine that around 50% of your monthly income will come from your pension, 25% will come from rental property checks, and the final quarter will come from your Social Security benefit check.
If you want to know how to plan your retirement income, it starts by answering some basic questions about what you want to do with your time and your money. Not everyone will want to take responsibility for a rental property, no matter how much income they’re likely to generate from it. As you get closer to your retirement age, though, it helps to know all of the options.
A financial advisor can not only steer you in the right direction, they can lay out the benefits of each path alongside its disadvantages. Whether you’re most concerned about inflation or about
emergency expenses in the future, you can take charge of the future with the right guidance.
Wealth Management
The nature of wealth is that it’s designed to accumulate over time. As one resource gets leveraged to build another, it can be divided over and over again until it’s practically unrecognizable from its original form. Unfortunately, this is how wealthy people can wind up in trouble. With all of the assets they have, they can easily lose track of how they’re performing. Plus, it can lead to a lot of missed opportunities as well.
A financial advisor who specializes in wealth management is there to consider how your financial strategies are serving the margins of your portfolio. Risk mitigation, tax planning, estate planning, and asset management are really just the beginning of building a comprehensive wealth management strategy. At MacNeil Financial Services, Julie MacNeil helps her clients get a handle on their wealth so they’re comfortable with how it’s allocated.
Wealth Management in Salt Lake City
When an individual or family is first starting to plan their finances, it can be a fairly easy task to track each resource. You might have a few investments that fluctuate in value, but even if the value is falling, you’re aware of the changes. However, it may not take very long before these constant economic events take too much time to process. When a local tax code changes or an industry comes under fire, your first priority isn’t to analyze how exactly it will impact your portfolio.
This is why it’s so important to talk to an advisor who has more than just time to keep up with it all. MacNeil knows more than just how to diversify a portfolio or when to defer your capital gains taxes. She takes the time to get to know your investment strategies, your comfort level with risk, and, perhaps more importantly, how you hope to retire. She’s learned that even the most financially modest people may find themselves with unexpected expenses. She wants all of her clients to organize their wealth, so it can provide for them (and their loved ones) as time goes by.
Tax-Free Retirement
Your taxes are an integral part of your financial bottom line, but it’s not always easy to see the forest through the trees when you’re in the midst of filing. If you’re like most people, you only have so much time to work through each line on each document. If you want to ensure you’re conserving as much wealth for yourself as possible, it will take more than reading a few online tax guides. The bottom line is that those who are interested in pursuing a tax–free retirement may need more than an accountant to get there.
Is a Tax–Free Retirement Possible in Utah?
A financial advisor will tell you that a nearly tax–free retirement is possible for some clients, though it will take some careful restructuring to get there. The benefit of working with an advisor is twofold. 1. You get to work with an expert who knows the tax codes. 2. A financial advisor will know how to use those tax codes to achieve your individual retirement plans.
An accountant may have an idea of how you can leverage your resources to maximize your wealth, but they won’t have the same level of detail as an advisor, nor will they have the same amount of time to put into the project. At MacNeil Financial Services, you’ll work with Julie MacNeil, and, as a comprehensive advisor, she can assess your tax strategy in relation to the rest of your assets.
Whether your holdings are largely in physical property or in the stock market, it’s her responsibility to look at how each one impacts your taxes and what options you have if you want to reduce what you pay every year. Deferrals, trusts, charitable contributions: these are just a few potential ways to cut down on your taxable income every year. If you’re wondering how to have a tax-free retirement, it’s a matter of exploring what’s available. For most people in the Salt Lake counties, they won’t even know their options until they talk to a specialist.
Assets Under Management
Your assets can change considerably over the years, which is just one reason why they can be difficult to track. Not only are you constantly amassing new ones, but the value of each asset can change on a dime. Some investments, whether in the form of a stock or a piece of art, that seemed worthless at the time may net you the most returns. Others may have started out strong before spectacularly crashing.
Assets under management is a financial service that can help you struggle less with all of your holdings so that you can make more off of them. Whether you like to take extreme risks or you prefer to play it closer to the vest, a financial advisor can support your assets. With the right assets under management services, you can be confident in your portfolio’s returns.
Assets Under Management Strategies in Utah
If you live in Utah or the Salt Lake counties, settling on the right strategy begins with finding a financial advisor you can trust. Julie MacNeil at MacNeil Financial Services is a retirement architect who can tell you more about how choices you make today may affect your golden years. Most people don’t need to be told not to put all their eggs in one basket, but what they may not always know is how certain portfolio dips can spell doom for their financial wellness.
When you have a financial advisor paying attention to the details, they’re able to catch signs that you may have missed. They can also predict how different political and economic forces will impact your wealth. Just imagine how much better you can plan when you know that a new compliance change or industry debut is in the pipeline.
Your assets come down to who you are and what you know, and your holdings should reflect your unique style if you really want your portfolio to perform. MacNeil first takes the time to understand how you’ve built your current slate of assets, so she can determine how best to monitor them.
Investing
How you invest is more than just a straightforward economic equation. Whether you follow a certain industry, like the tech sector, or are more drawn to real estate properties or artwork, investments are as unique as their owners. Whatever your story is, a financial advisor can tell you more about how your style is either helping or hurting your overall portfolio.
Retirement and Investments: The Connection Between Them
Investments can be an important part of your retirement income, particularly if you have big plans for your later years. Investing can ultimately mean the difference between paying for your grandchildren’s education or flying first–class around the world. At MacNeil Financial Services, you can work with a professional who will show you how aggressive growth can help you meet all of your financial goals (and then some).
Standard investment advice comes down to the oft–repeated principle of diversifying. If the stock or housing market crashes, you’ll want to make sure that you have other assets that will offset those losses.
This is a fair claim, if not the most original. However, there are other factors to keep in mind when deciding how to allocate your funds. If you’re investing in too many sectors, the disorganization can negatively impact your portfolio. What’s more, if you’re investing in assets that you don’t fully understand, then it’s easy to overestimate their value — even in the face of political or economic headlines that may predict the investment’s eventual downfall.
A financial advisor like Julie MacNeil is there to provide you with additional guidance, so you’re not left with a losing portfolio. If you’re more cautious, she might encourage you to break out of your shell a bit. If you’re more of a daredevil (especially if you’re nearing retirement age), she can give you a few tips on how to rein it in without losing your sense of adventure. If you want to be comfortable during your retirement, these often small tweaks can do wonders for your bottom line.
Maximizing Social Security
Social Security has undergone numerous changes since it was introduced in the 1930s, and not all of those changes have been better. The more regulations and restrictions they add, the harder it is to interpret how much people need to pay and how much they should be paid by the time they retire. As a result, many people end up settling for less.
If you want to understand what you’ll be receiving every month and how it will impact your retirement strategy, it will take more than consulting with an online estimator. The right financial advisor can help you not only understand the basics of the program but also fill out all of your paperwork in a way that maximizes your returns.
How to Maximize Social Security in Utah
Like all retirement strategies, maximizing Social Security means planning ahead. What you earn comes down to how much you put into the system, what industry you chose to work in, and how many years you worked overall. A financial advisor will comb through your work history so you can include all of the details. After all, you probably don’t want the back–and–forth with the government if you leave something off the first time.
Your income every month is, in part, dependent on how much you make in Social Security. The check may not be able to cover all of your expenses, but it can take a significant burden off you to make up the rest. Secure income planning is more than just rental income and pension paybacks. You need to be certain you’re maximizing your wealth in all financial areas, and this is an important subject if you want to have enough during your golden years.
One of the most important parts of this program is that it’s not one–size–fits–all. At MacNeil Financial Services, Julie MacNeil can determine what you’re likely to receive and how that will fit with your larger retirement goals. Regardless of what you want to do during your retirement, Social Security can become an important means to get there.
Secure your financial future with MacNeil Financial Services, your trusted partner in Utah. Dedicated to providing personalized solutions for retirement planning, investments, insurance, and more. Contact us today to take the first step towards a brighter financial tomorrow.