Every dollar you save in taxes is not only an extra dollar that you have available to enjoy your lifestyle, but it is also a dollar you do not have to take from your retirement savings and it can be another dollar you can use to grow your income.
Low fees on investments do not equate to better returns or good advice. In your younger years when your focus is on accumulating wealth, low fees may be an advantage. However, in the retirement income years, good advice is what you will value. Advice that leads to proper planning and creating tax-efficient and sustainable lifetime income.
Proper tax planning strategies can save you thousands and in some cases millions of dollars in taxes. Don't get caught up in cheap investment advice. You get what you pay for.
It's the after-tax, and after-fee, rate of return that matters most on your investments.
A better approach
Work with an advisor who can provide you with the best investment opportunities and also provide you with a financial plan that suits you and your unique situation and helps you reach your goals.
How often should you meet with your Advisor?
It will be more often in the early months as you are putting together a plan. Afterward, you can meet with your Advisor 2-3 times per year to review and update your plan. If you have a major life event then it would be a good time to meet with your Advisor and ensure you are on track financially and update your plan accordingly.
2 things to remember:
1. It's the after-tax and after-fee rate of return that matters, and...
2. Ensure you are receiving good planning for the fees you are paying, otherwise you might as well do it yourself.
Retirement Income, Investment, & Tax Planners,
Willis & Nancy Langford
587-755-0159
