Cast Ahead Wealth Management

Does your advisor do annual reviews?

Here are some key questions to ask at annual review time with your advisor.

Is your investment strategy on track?
Are you saving tax-efficiently?
Are you protecting your income?
Are you preserving your assets?
How does your plan affect your family?

No matter where you are in life, you can plan and save for the retirement you want, and we can help. Reach out at 404-777-9541.
www.castaheadwm.com

Did you know? The gender wage gap can have an impact on a woman's preparation for retirement.

👩‍🦳 A recent Prudential survey revealed that women have less than a third of the median savings of men.
👩‍🦳 Women are more likely to delay retirement due to inflation, housing prices and caregiving responsibilities.
👩‍🦳 Women are also more concerned about unexpected expenses and the well-being of their children and family.
👩‍🦳 Lower earnings inhibit women’s ability to retire comfortably. Conversely, women often have stronger social support systems than men in retirement.

We can help make sure you (or a special woman in your life) are prepared for what may lie ahead. Reach out to us at 404-777-9541.
www.castaheadwm.com

Here are a couple of ideas to set up an emergency fund.

Set a goal.
Having a specific goal for your savings can help you stay motivated.

Create a system for making consistent contributions, such as setting up automatic recurring transfers. Make it a specific amount and if you can do more over time, add more. Watch your savings grow even faster!

Regularly monitor your progress.
Find a way to regularly check your savings. Whether it’s an automatic notification of your account balance or writing down a running total of your contributions, finding a way to watch your progress can offer gratification and encouragement to keep going.

No matter where you are in life, you can plan and save for the retirement you want, and we can help. Reach out at 404-777-9541.
www.castaheadwm.com

Life is an amazing journey full of challenges and triumphs. No matter where you are on the journey, preparing can be a key part of success 🏆

That’s why we are happy to remind you that September is Life Insurance Awareness Month. can play a role in your overall financial strategy, and we are happy to help share some of the potential benefits of this important product.

👛 Income Support - Your policy may be able to provide financial support to people who depend on you financially.

💵 Debt Management - Life payouts can be used to pay off your mortgage or your child’s college education.

👨‍👦‍👦 Legacy Strategy - Life insurance can play a role in estate management and perhaps help you leave a legacy for loved ones.

This month, take the time to review your current life insurance coverage or, if you do not yet have life coverage, consider what role it can play in your personal finances. Better yet, talk to us about how your life insurance can more closely align with your long-term financial goals.

Remember, several factors affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

No matter where you are in life, you can plan and save for the retirement you want, and we can help. Reach out at 404-777-9541.

www.castaheadwm.com

Are you hearing your favorite songs at the grocery store? Well it may be time for you to talk to your financial advisor about retirement and re-evaluating your investments/financial plan/portfolio. 😱🤪

Changes in your financial circumstances, your comfort with risk, or market conditions may indicate a need to reassess your investment portfolio.

For instance, retirees often prefer a safer strategy since they have limited time to recover from losses that come from riskier investments or market declines. This might involve reallocating funds from stocks to lower-risk options like bonds or annuities. Conversely, during a strong market, investors might feel more at ease investing in higher-risk assets to chase greater returns.

It's also essential to consider your financial responsibilities. Are there health issues that could lead to increased medical costs? Are you planning home improvements, or saving for a child or grandchild's college expenses? If so, it may be wise to keep your savings in more secure and accessible options such as a high-yield savings account, a money market account, or a CD.

Think about consulting a financial advisor who specializes in retirement planning. They can help you modify your portfolio according to your objectives, expected lifespan, risk tolerance, and current financial situation.

No matter where you are in life, you can plan and save for the retirement you want, and we can help. Reach out at 404-777-9541.
www.castaheadwm.com

Did you know? Estate planning is important for everyone, no matter your income level. Everybody can benefit from ensuring their assets and finances are properly taken care of after their death.
🗒️ Without a will, a probate court could lead to an unintended distribution of assets.
🗒️ Estate planning is also useful if you become incapacitated.
🗒️ A will is part of an estate plan.
🗒️ If you have underage children, an estate plan is extremely important, as it will list their guardians, in the event your spouse cannot care for them after your death.

A good estate strategy starts with an honest conversation. Reach out, and let's talk about your money's future. 404-777-9541
www.castaheadwm.com

Are you making retirement saving a priority? Parents may want to prioritize saving for retirement over paying college tuition. Helping your child with college costs is great, but not if it places your retirement at risk.

Retirement planning has several steps, with the end goal of having enough money to quit working and do whatever you want. One step is to figure out how much money you need to retire.
The amount of money you need to retire is a function of your current income and expenses, and how you think those expenses will change in retirement, and how they won’t.
The typical advice is to replace 70% to 90% of your annual pre-retirement income through savings and Social Security. With this strategy, a retiree who earns around $63,000 per year before retirement should expect to need $44,000 to $57,000 per year in retirement.

No matter where you are in life, you can plan and save for the retirement you want

We can help. Reach out at 404-777-9541.

www.castaheadwm.com

What’s your best advice to stop impulse buying?
🫣🫣

📋 Stick to a list.
🛑 Give yourself a pause between the urge to buy and buying it.
🛍️ Take the convenience out of online shopping.
🔍 Reflect on why you shop (why are you overshopping?) Are you seeing ads on your social media that are causing you to shop?
🚶‍♀️ Replace emotional spending. Maybe call a friend for a walk or go for coffee.

Trying to understand why you impulse buy might be able to help you cut down on some of your bad financial habits. You can take the necessary steps towards limiting your impulse purchases ahead of time before you step into the store.

DID YOU KNOW: An HSA can be used to pay for
💰 near-term medical expenses
💰medical expenses in retirement
💰 everyday items like contact lenses or over-the-counter drugs

DID YOU KNOW: As you approach the significant milestone of turning 55, there is a valuable opportunity that can help boost your financial well-being–the Health Savings Account (HSA) Catch-Up Contribution.

At age 55, individuals are eligible to make additional contributions to their HSA, allowing them to save even more for future healthcare expenses. This catch-up provision provides a unique chance to take control of your financial future and may help ensure you have the necessary funds to cover medical costs during retirement.

HSAs are designed to be used in conjunction with a high-deductible health plan (HDHP). If you purchase an HSA as part of your company's benefits package, contributions are pre tax, and withdrawals for qualified medical expenses are not taxable. Funds in HSAs can also be invested after your account balance reaches a certain limit, which the HSA administrator determines and which will vary.

Remember that if you spend your HSA funds on non-qualified expenses before age 65, you may be required to pay ordinary income tax and a 20% penalty. After age 65, you may be required to pay ordinary income tax on HSA funds used for non-qualified expenses. HSA contributions are exempt from federal income tax but are not exempt from state tax in certain states.

✈️ No matter where you are in life, you can plan and save for the retirement you want. Reach out at 404-777-9541.
www.castaheadwm.com

[Once you start Medicare, you can no longer contribute pretax dollars to your health savings account (HSA). If you were to withdraw money from your HSA for a nonmedical reason, that money would become taxable income, and you would face an additional 20% penalty. After age 65, you can take money out without the 20% penalty, but it would still become taxable income.]

What would you do with an extra year? Retiring one year later means one extra year to save, one extra year for those savings to potentially grow and compound, and one less year of retirement to fund. It might be worth considering.

The impact of saving more, spending less later and benefiting from an extra year or more of compounding can be truly staggering. Even if you can hardly wait for the day when you leave work forever, it's important to be strategic about when you retire so you don't spend your post-work life worrying about whether your money will run out.

Before you let your boss know you're ready to start your life as a carefree retiree, read more here: https://bit.ly/47dRnJj

✈️ No matter where you are in life, you can plan and save for the retirement you want

We can help. Reach out at 404-777-9541.

www.castaheadwm.com

Labor Day is the perfect time to have a big cookout with all your favorite foods. Get those grills going and show off your cooking skills!

Have a great Labor Day with your family and friends!

Try this delicious recipe at your cookout, and let us know if you do try it!

https://www.justataste.com/greek-cucumber-tomato-salad-recipe/

How much more would you have to save for retirement if you owned your home rather than rented? Would it surprise you to learn it might be several times less?

Learn more about the relative advantages below.

www.library-messages.com

Okay, I know Fishing FTuesday isn't a thing, but I am dreaming of on a Tuesday. I'm distracted today, so what do you use for bait when you fish? Have you tried using Rooster Tails? Let me know what your favorite tips are to catch some big fish. This is a throwback to when I caught a big Striped Bass at Lake Martin.

Anyway, back to business. Summer is almost over, and August is nationally recognized as Make a Will Month. Although discussing wills may feel uncomfortable or seem far-off, it presents an important opportunity to reflect on our lives, our values, and the legacy we wish to leave behind.

Crafting a will is more than just designating asset distribution; it's a great first step in considering the legacy we want to leave the world and our loved ones. A well-thought-out will can provide guidance for those left behind. Whether providing the future of family members, supporting cherished causes, or ensuring our assets are distributed according to our wishes, a will is a lasting statement of our intentions and legacy.

Happy FTuesday and don't forget to get those wills done!

Are you someone who wants their financial advisor to listen to you carefully and understand your financial priorities? Someone who can help you invest according to your values? Reach out to me if you would like to speak to a financial professional who speaks to you regularly about your finances and will help you progress toward your goals, 404-777-9541.
www.castaheadwm.com

Our intern, Xavier Bringuel, gaining knowledge 🧠💪 at the 2024 Conference. Three days of learning, learning and more learning. Okay, maybe some downtime, enjoying this beautiful San Diego weather. We love his excitement!
Kicking off the excitement is keynote speaker, Apolo Ohno.

“GRATITUDE 🥇GIVING 🥇GRIT 🥇GEARING UP 🥇GO”
Apolo Ohno

My intern, Xavier Bringuel, and assistant/wife, Paula Bringuel, and I have arrived in San Diego for the LPL Focus 2024 Conference.
We are super excited to attend this fun event, seeing old friends, meeting new friends, listening to some cool keynote speakers, Jon Dorenbos and Apolo Ohno. And then we will be Dancing on the Ceiling with Lionel Richie!

A lets you save for retirement by paying your tax bill now rather than putting it off until later.

Roth IRAs are tax-advantaged differently from traditional IRAs. Do you know how? Watch this short video:

Would you like to find out more about Roth IRAs? I offer retirement income planning, legacy planning, tax strategies and more. I serve my clients with extensive financial planning services, specializing in wealth management for business owners, retirees, parents of college students - YOU!

Reach out at 404-777-9541 if you would like to speak to me about planning.
www.castaheadwm.com

How to Bake a Pie-R-A Roth IRAs are tax-advantaged differently from traditional IRAs. Do you know how?

Every year, when the EBRI study comes out, I read through it to see what's on the minds of today's retirees. It helps me stay focused on current and future priorities for retirees. I will provide the guidance, tools, and solutions to position my clients for the comfortable, worry-free retirement you've envisioned and worked diligently to achieve.
If you have any questions or concerns, I'm happy to help. Reach out at 404-777-9541.

The 2024 Employee Benefit Research Institute (EBRI) Retirement Confidence Survey was recently released, and it provides an illuminating look at the current state of retirement preparations and mindsets across the country.
While the findings show reason for optimism, with 68% of workers and 74% of retirees feeling confident about their retirement prospects, this represents only a modest rebound from 2023's significant dip in confidence levels. Inflation remains the overarching concern, with 83% of workers worried that rising costs may impede their ability to accumulate sufficient savings.1
The survey data reveals a few other key themes that reinforce the importance of prudent, personalized retirement preparation:
⚫ SS Expectations - Social Security remains the bedrock of most retirement income strategies. An overwhelming 91% of retirees report receiving Social Security benefits, with 62% indicating it's a significant income source. However, only 25% of retirees say they grasp the program's nuances and how to optimize their benefits.1
⚫Savings Imbalance - While Americans have ambitious retirement savings goals (one-third of workers believe they'll need $1.5 million or more), there's a disconnect with current realities. One-third of workers have less than $50,000 saved, and 14% have under $1,000 put away. This disparity underscores the necessity of developing a tactical, long-term strategy.1
⚫Emergency Savings Needs - Two-thirds of workers would like more opportunities to save for unexpected expenses through their workplace retirement plans. Nearly one in five people admit to tapping their retirement funds for emergencies.1
⚫Lifetime Income Appeal - There's been a notable uptick in interest regarding products that can provide a guaranteed income stream throughout retirement. A full 83% of workers contributing to an employer's plan are interested in converting some of their savings into a product that generates a steady income. As the risk of outliving one's assets remains a pressing concern, these products may play a greater role.1
Annuities can be structured to provide an income stream in retirement, but it’s critical to understand they have benefits and limitations. We can explore this in greater detail if you are interested.2
The 2024 EBRI survey highlights retirement preparation's complexity and evolving nature in the modern era. While no two individuals' situations are alike, constant monitoring, being proactive, and adaptability are required to navigate the challenges and maximize the opportunities.

👩‍🏫 Did you know that 77 % of women believe having a financial professional would make a difference, according to a recent study? 👩

Are you someone who wants their financial advisor to listen to you carefully and understand your financial priorities? Someone who can help you invest according to her values? Reach out to me if you would like to speak to a financial professional who speaks to you regularly about your finances and will help you progress toward your goals, 404-777-9541.

www.castaheadwm.com

Did you get to experience this medieval playground equipment? If so, reach out so we can discuss retirement planning.

🟡 Did you know the average Social Security recipient collects about $18,000 per year? Most Americans in that age range spend $46,000 per year. How much income will you have in retirement?

Give me a call if you got flung off this, 404-777-9541.
www.castaheadwm.com

As we continue through 2024, I wanted to share some data that many may find positive. Fidelity Investments just announced that 440,000 retirement savers reached an incredible milestone in 2023: $1 million in their 401(k).(1)

That's despite market fluctuations and what many thought would be a difficult financial year. In fact, recently released data reveals that the average 401(k) balance rose 14 percent from 2022 to 2023. But that's not all! Individual Retirement Account (IRA) balances also increased 12 percent year over year. (1,2)

On top of that, numerous 401(k) plans with a balance of $1 million or more increased by 20 percent in the final quarter of 2023. What does this tell us? Savings vehicles, like 401(k)s or IRAs, continue to show resilience and are effective tools for investing in one's financial future.(1)

In other words, retirement savers demonstrated the benefit of patience and reaped healthy benefits in a year that defied most economists' expectations.

When workplace retirement plans work with, not against, other retirement plans, it can be a powerful combination. If you have any questions about your 401(k) or IRAs, or other retirement planning, reach out at 404-777-9541 and let's have a discussion.
www.castaheadwm.com



1. CNBC. com. February 27, 2024, "401(k) millionaire ranks grew 11.5 percent in 2023."

2. Once you reach age 73, you must begin taking required minimum distributions (RMDs) from your 401(k) or any other defined contribution plan in most circumstances. Withdrawals from your 401(k) or any other defined contribution plans are taxed as ordinary income and, if taken before age 59½, may be subject to a 10 percent federal income tax penalty.

Once you reach age 73, you must begin taking RMDs from a traditional IRA in most circumstances. Withdrawals from traditional IRAs are taxed as ordinary income and, if taken before age 59½, may be subject to a 10 percent federal income tax penalty.

Is term life insurance for you?

A term life insurance policy is the simplest, purest form of life insurance : You pay a premium for a period of time – typically between 10 and 30 years – and if you die during that time a cash benefit is paid to your family (or anyone else you name as your beneficiary).

People often buy term life insurance for these reasons:
🧑🏾‍💼 To cover their working years so their family has “income replacement” if they unexpectedly pass away.
🏠 To cover the years of a large debt such as a mortgage, so that their family can pay it off.
🎓 To cover the years until children graduate from college, to ensure there is tuition money if they pass away.
⚱️ To pay for the cost of a funeral.

You can read more here: https://bit.ly/4bN0Nwi

Let us assist you in creating a retirement plan that takes into account all of your assets, investments, savings, Social Security, and other possible sources of income.
Call us at 404-777-9541 to help you develop financial assurance for now and in the future.

www. castaheadwm.com

When a house is sold, when do you qualify for capital gains taxes?

This colorful infographic covers some of the basics.

https://bit.ly/3W3fsNN

I offer retirement income planning, legacy planning, tax strategies and more. I serve my clients with extensive financial planning services, specializing in wealth management for business owners, retirees, parents of college students - YOU!
Reach out at 404-777-9541 if you would like to speak to me about planning.
www.castaheadwm.com

Happy Friday!

Imagine approaching financial planning with a positive mindset:
📍 Budgeting for the month could be treated as an act of self-care.
📍Mapping out long-term goals like retirement can help you envision what you want for your future.

Money affirmations can help some individuals develop this positive outlook. When you relate to your money with a sense of gratitude and understanding, you may be more likely to meet goals and embrace opportunities.

Trying to shift your thought processes to focus on what you want financially can welcome an abundance mindset. Think of it like this, we can create what we put our time, focus and energy into.

I offer retirement income planning, legacy planning, tax strategies and more. I serve my clients with extensive financial planning services, specializing in wealth management for business owners, retirees, parents of college students - YOU!

Reach out at 404-777-9541 if you would like to speak to me about planning.
www.castaheadwm.com

Do you know how much you’ll spend during your retirement? The answer may be more complicated than you’d expect.

Learn more here: https://bit.ly/4cZ2PKN

I offer retirement income planning, legacy planning, tax strategies and more. I serve my clients with extensive financial planning services, specializing in wealth management for business owners, retirees, parents of college students - YOU!

Reach out at 404-777-9541 if you would like to speak to me about planning.

www.castaheadwm.com