Pete Kramer - Northwestern Mutual

2024 here we come! Wait...wah....what? 🤯

Yes! We are approaching year-end which means there are some strategies you may want to consider NOW for your year-end tax planning...

⏰ Timing Income and Deductions Properly
🧧 Charitable Giving
📆 Retirement Planning
🎁 Gift and Estate Planning

For more details visit:
https://www.northwesternmutual.com/life-and-money/year-end-tax-strategies/?utm_medium=email&utm_campaign=wealthplanning&utm_term=over50_article1&utm_source=facebook&utm_content=_&agentid=077357

2023 Year-End Tax Strategies Year-end is rapidly approaching. Close out your finances on a high note in 2023 with these tried-and-true year-end tax planning strategies.

Northwestern Mutual announced their 2024 dividend payout— an expected $7.3 billion. The largest-ever. I’m proud to be part of a company that shares their success with clients, and whose financial strength allows us to be there for them through all economic conditions. Get more details: https://news.northwesternmutual.com/2023-09-28-Northwestern-Mutual-to-Deliver-Record-Setting-7-3-Billion-in-Dividends-to-Policyowners?utm_source=facebook&utm_medium=organic_social&utm_campaign=news&utm_content=newsroom_field&utm_term=Record-Setting-7-3-Billion&agentid=077357

Year after year I'm blown away by the financial strength of this "policy owner's company". To all of my clients...you're in really awesome hands...to those of you who aren't...what are you waiting for? 😉

Northwestern Mutual announced their 2024 dividend payout— an expected $7.3 billion. The largest-ever. I’m proud to be part of a company that shares their success with clients, and whose financial strength allows us to be there for them through all economic conditions. Get more details: https://news.northwesternmutual.com/2023-09-28-Northwestern-Mutual-to-Deliver-Record-Setting-7-3-Billion-in-Dividends-to-Policyowners?utm_source=facebook&utm_medium=organic_social&utm_campaign=news&utm_content=newsroom_field&utm_term=Record-Setting-7-3-Billion&agentid=077357

For small business owners, long-term financial planning is critical for continued growth. Reach out today and I can help you build a financial plan that focuses on the future.

Dr. Martin Luther King, Jr. was a visionary for nonviolent activism in the Civil Rights Movement. Every year, let's celebrate this holiday as a "day on" instead of a day off by doing something to honor his legacy.

You know, so many of us are guilty of this (myself included) ...gifting all the "stuff" to our kids over the Holidays that they likely don't really need or even want.

If you're still "shopping," for those hard-to-buy-for kiddos, maybe consider a "gift that keeps on giving."

See link for some great ideas!
https://www.northwesternmutual.com/life-and-money/5-holiday-financial-gifts-for-kids-that-keep-on-giving/?utm_source

The Gift That Keeps on Giving "The gift that keeps on Giving the WHOLE year round!"- Eddy-when some times words won't say enough, you just got to give something specialNot my property

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I had this conversation with clients quite a few times just this past week, so it's definitely worth sharing and should be top of mind as we approach the end of 2022.



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When you feel good about your money, you feel better overall!

No joke...I witness this every day...




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www.peter-kramer.com

Ok, ok...I know this isn't a "fun" conversation...

While it is much more fun to talk about your financial goals and dream about retiring on the beach or travelling the world someday, Long-Term Care insurance is a key component of your financial plan. A Long-Term Care event can absolutely derail your finances if you have not secured this critical piece of your financial plan.

November is Long Term Care Awareness Month. Be prepared with more choice and control over your care.

I am certainly aware...how about you?

www.peter-kramer.com

Know your limits!

2023 IRS contribution limits, that is. I don't know about you, but I'd like to increase my cash flow in 2023.

One of the best ways to do that is to increase your retirement contributions, which can save you money on your taxes. We're seeing larger than normal increases for 2023, so take advantage if you can!

https://www.northwesternmutual.com/life-and-money/high-inflations-silver-lining-2023-irs-limit-increases/?utm_source

https://theneighborhoodfinanceguy.com/contributions-2023/

www.peter-kramer.com

Just do it!

Take advantage of opportunities to minimize your taxes for both 2022 and the years ahead!

www.peter-kramer.com

Whether you are young and single, or married with children, you should have an estate plan so that YOU are in control of your wishes, not your state's laws. An estate plan is an important part of a financial plan!

https://www.northwesternmutual.com/estate-planning/?agentid=077357

www.peter-kramer.com

While revamping our website recently (it's not published yet, but you can still visit the old one!), I was reminded of why I got into this business of "financial planning."

I was a new father, thinking I should probably "get some things in order" to protect my new little sweet family. I knew we needed an advocate for our financial decisions because we certainly couldn't be that for ourselves. The entire process resonated with me so much that I decided to become an advocate for others. It was a long road of education, education, education, and more education...but so worth it!

Along the way several friends have become clients and more importantly, clients have become friends. What a ride it has been and I am grateful for everyday that I get to do this "gig!"

Here's my "why"...what's yours?

www.peter-kramer.com

A word of caution about market timing.

Many think they are able to "time the market"...but is it really a good idea for your long-term financial plan?

www.peter-kramer.com

https://www.northwesternmutual.com/life-and-money/a-word-of-caution-about-market-timing/

There’s Never a Good Time to Call a Market Bottom We look at the perils of trying to time the market and why we remain convinced inflation is set to drop.

www.peter-kramer.com

Know your options!

www.peter-kramer.com

The FASFA just became available for the 2023 academic year. The application process can feel very overwhelming, especially if it is your first time completing.

Keep in mind:
* Don't wait to apply - Financial aid tends to be awarded on a first-come, first-served basis.
* The sooner you know what you are eligible for the sooner you have an idea of what you can afford.

https://www.northwesternmutual.com/life-and-money/fafsa-101-everything-you-need-to-know-about-filling-out-the-fafsa/

Reach out for more tips and advice!

www.peter-kramer.com

The #1 takeaway...

Pick a financial advisor you trust — before anything happens.

TRUTH.

Well said, Pat Miles, well said.

KARE 11
Before All is Said and Done


www.peter-kramer.com

HOF broadcaster Pat Miles finds healing through authoring new book, 'Before All Is Said And Done' After former KARE 11 anchor Pat Miles lost her husband to cancer, she found healing by writing not just about grief and loss but also planning her own mortality.

As we approach the end of the year (hard to believe!), it is always a good idea to do a little financial housekeeping.

* Did you experience a major life event this year?
* Did your income change?
* Did you have a milestone birthday?

This is just skimming the surface of things to consider each year-end. Reach out for additional information on annual reminders!

www.peter-kramer.com

www.peter-kramer.com
@ Mutual

Apparently money CAN buy you happiness!!...if used to hire a financial advisor. According to this recent study, you are THREE times happier when working with a financial advocate than if you go it alone. It's actually "thrice happier."

I know the work that I do has an impact, but who knew? THREE times, thrice, whatever...I'll take it...

Business Wire
&Company

www.peter-kramer.com

https://www.businesswire.com/news/home/20211207005798/en/Money-Can-Buy-Happiness-If-It%E2%80%99s-Used-to-Hire-a-Financial-Advisor-Study-Finds

I've never been, but it sounds pretty great to me!


Rethinking65

www.peter-kramer.com
https://rethinking65.com/2022/09/07/charleston-tops-best-place-to-retire-list/

Charleston Tops ‘Best Place to Retire’ List WalletHub compared the retirement-friendliness of more than 180 cities across 46 key metrics. (By Rethinking65)

Well said...

RIP.