Posts Tagged ‘Financial Services & Solutions’

Murfreesboro Financial Advisor advises women on retirement strategies

Wednesday, July 28th, 2010
Beverly O. Davis, AWMA

Beverly O. Davis, AWMA

It’s a fact, women face unique challenges in life and in retirement.  Whether you are juggling career and family responsibilities, making a difference int he communities where you live and work – or all of the above – women tend to aim high and deliver.  But in doing so, women often put the goals and objectives of others before their own needs.

Retirement is one area where you really need to be first in line.  Since, according to the U.S. Department of Health and Human Services, many women will spend upwards of 25 years in retirement, it is important to attacin the retirement lifestyle you envision and that you’ve worked so  hard to achieve.

As an independent financial professional, I’ve focused my practice on understanding the challenges women and their families face inpreparing for retirement, and to provide personalized guidance that puts your goals first.  Because I’m independent, I have no company agenda to promote – your objectives always come first.

Call me at your convenience, allow me to introduce myself and learn more about your retirement goals and concerns. 

Beverly O. Davis, AWMA, Wealth Advisor

Financial Services & Solutions, Inc.

Securities and financial planning offered through LPL Financial. Member FINRA/SIPC.

IRA’s/Retirement Plans for Business Owners

Friday, September 18th, 2009

IRA’s are very limiting as far as tax deferral, with a maximum of $5000 ($6000 if you are over 50). Generally, business owners can shelter as much as $49,000 ($54,500 if you are over 50) into a properly drafted and designed retirement plan (which we specialize in, by the way.) When you are looking at the tax savings (using 2009 tax rates, assuming “married, filing jointly), if your company netted $190,000 in profits, you would owe $66,500 in Federal taxes on your profits; with the proper retirement plan in place and maximizing your deferrals, your tax bill would reduce to $39,480, a tax savings of $27,020! (Even more if you are over age 50). In essence, the government is subsidizing a large portion (over half) of your retirement contribution. Why not pay yourself instead of the government?  Remember the deadline for implementing this type of plan is October 1, so time is running out if you want to utilize this strategy for 2009.  It is also important that you talk with a tax advisor about your situation prior to executing any strategies. 

Authored by:  Beverly O. Davis, AWMA  bdavis@fssplanning.com

Health exchanges

Friday, September 18th, 2009

One of the legislative proposals currently being discussed is a taxpayer funded health exchange set up by the government to compare different plans and options. Fortunately, qualified insurance brokers can do the exact same thing for you right now (and without raising your taxes). One of my jobs as a financial advisor is to compare all the available plans and options and help you determine the best plan for your budget and medical needs. As one of the fastest growing expenses in a household budget, medical insurance planning is a critical component of your overall financial plan. The Financial Planning Association states that medical insurance costs are second only to mortgage expenses in households 35-65 and for retirees it is often their biggest expense. Whether you are looking for a comprehensive medical plan, a health savings account, or long term care insurance, I can help you take the guess work out of choosing among the different plans. Authored by:  Ben Leyhew bleyhew@fssplanning.com