In this episode, Dennis Prout and Shea Petaja discuss the cha-cha-changes of 2018 to your Social Security, 401(k) plans and Roth IRAs. They also discuss the contribution limits for all retirement plans. Perhaps this information will give you better parameters for your financial resolutions this year.
Did you know that approximately 50% of the population makes a resolution each New Year, and 80% of them will fail by February? Not only is this not shocking, it’s discouraging. Why start when there’s no guarantee of finishing? What’s the difference between the 80% who fail and the 20% who succeed?
I think the better question is this: “A year from now, what do you want to be celebrating? And, how much will it cost?” Every goal requires resources, and starting at the very beginning is a very good place to start.
Join us as we help you dream a little bigger and think a little more clearly about the financial realities required to make those resolutions come true.
According to Money Magazine, “Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.” Not in the 1% of the population of ultra-affluent? Consider this from CNBC, “Over the next several decades, the biggest and wealthiest generation in U.S. history will transfer roughly $30 trillion in assets to their Gen X and Millennial children.” Even more shocking, “Most of those children will promptly fire their parents’ advisors.”
Want to have control of that money now versus when you pass?
In this episode Dennis Prout will give you several options for gifting your assets. And, if you’re on the receiving side, he can help you navigate that as well.
Oh, and last (but not least) … that tax plan? They talk about that too!