Protection Point Advisors

Another interesting chart

More interesting data. Who pays taxes and it looks like we are spending a lot more than we are taking in.

Interesting facts on who pays taxes

Great interview by Scott Love of the Rainmaker podcast. He asks great questions and get's some interesting answers.

Unlock the Secrets of Business Growth with Richard Watson, CFP ®! 🚀 Join me on the latest episode of 'Trust Compression and Edification' as we delve into strategies for scaling professional firms. Learn from Rick's journey of turning $20 into managing over half a billion dollars and discover why building a strong business foundation is key. Tune in now!

iTunes: https://bit.ly/4brp1MS
Other platforms: https://bit.ly/42u5dmU

The Rainmaking Podcast

TRP 151: Making Effective BD Presentations for Lawyers With Val Madamba by The Rainmaking Podcast

We just had another podcast hit today. I sometimes do several interviews a week, so occasionally they pack together like this. Lauren Lester in A Different Practice asks about how to help Attorneys grow and brand. I drew on our book, A Firm Worth Building available on Amazon https://podcasts.apple.com/us/podcast/36-level-up-your-law-firm-branding-and-growth/id1654806425?i=1000653302478

Just got interviewed about my new book A Firm Worth Building. Here is a link to the podcast. Thanks Megan Spicer for the interview on Cultivating Business Growth.

‎Cultivating Business Growth: Building Trust & Trust Compression with Rick Watson on Apple Podcasts ‎Show Cultivating Business Growth, Ep Building Trust & Trust Compression with Rick Watson - Apr 22, 2024

It’s important to align your savings strategy with the latest changes to retirement contribution limits. Here's an overview of what you need to know for 2024:

📈 For 401(k), 403(b), 457 Plans & Thrift Savings Plan:
- New Contribution Limit: $23,000 (up from $22,500 last year)
- 50+ Age Catch-Up: Still at $7,500, making the max contribution $30,500

💰 For Traditional & Roth IRAs:
- Increased Contribution Limit: Now $7,000 (previously $6,500)
- 50+ Additional Catch-Up: Remains $1,000, totaling max of $8,000

🔍 Roth IRA Income Phase-Out Range:
- Single Filers/Heads of Household: Between $146,000 and $161,000
- Married Filing Jointly: Between $230,000 and $240,000

If you're unsure about how these changes impact you, we’re here to help. Reach out anytime for guidance on your 2024 retirement savings strategy!

The magic number

‍Giving up your full-time job for good obviously comes at a cost, but for many Americans, the price of retirement has never been higher: the average US adult now expects to need $1.46 million to afford a comfortable one-way ticket out of the working world.

That’s according to a new survey of 4,588 American adults commissioned by financial planning company Northwestern Mutual. The updated figures also revealed that the average respondent has $88.4k saved towards retirement in 2024 — some way off the updated “magic number”, which has risen 53% since 2020, far outstripping inflation.

As is to be expected, the amount of money we feel we need to live comfortably in our post-work years massively depends on our proximity to the ~65-year mark. However, external concerns like ever-rising healthcare costs and the actions of previous generations (at least according to BlackRock CEO Larry Fink last week) have perhaps compounded worries for younger workers.

Such factors, when taken with a pinch of the realism that only aging and first-hand experience with the realities of retirement can harness, see generations diverge widely on their necessary savings expectations. Gen Z and millennials, for example, now expect to need some $1.63m and $1.65m, respectively, up from $890k and $970k just 4 years ago, while boomers and older Americans in 2024 say they need just $990k in the bank to live out a comfortable retirement.

Article source: https://www.chartr.co/stories/2024-04-03-3-cost-of-retirement-by-generation

Tax day is right around the corner, and time is running out to get your individual tax return in or file an extension!

If you are a business owner, your tax filing deadlines are on the horizon as well:

✅ Tax filing deadline for C corporations is April 15th
✅ Tax filing deadline for S corporations and partnerships is March 15 for calendar-year businesses. Fiscal year businesses need to file by the 15th day of the third month following the close of your tax year.

If you're feeling overwhelmed with your last-minute tax preparations, we're here to help. Our team is ready to guide you through every step, ensuring you maximize your returns and minimize your stress 📝

Reach out to us ASAP, and let's get your taxes sorted together.

Just had a new interview podcast go live today. This one was interesting because it was from the perspective of running a Therapy business better

‎The Practice of the Practice Podcast | Innovative Ideas to Start, Grow, and Scale a Private Practice: Seven Figure Practice Series: Running Your Practice Like a Business with Rick Watson | POP 948 on Apple Podcasts ‎Show The Practice of the Practice Podcast | Innovative Ideas to Start, Grow, and Scale a Private Practice, Ep Seven Figure Practice Series: Running Your Practice Like a Business with Rick Watson | POP 948 - Jan 23, 2024

Another Podcast just went live today, and we had another interview go live last night. Very exciting ...
Podcasters: https://bit.ly/3S3Ebkl
iTunes: https://bit.ly/3vrfOo1
Spotify: https://bit.ly/3TNOdY2
YouTube: https://youtu.be/VX0jK5ixBmk

77: Winning with Trust Compression: Strategies for Building Strong Professional Relationships Welcome to Episode 77 of The Intentional Entrepreneur. In this episode of The Intentional Entrepreneur, Rick Watson, author of “A Firm Worth Building” delve ...

I was interviewed on another Podcast that finally went live.

‎BE THAT LAWYER: Rick Watson: Building a Professional Network on Apple Podcasts ‎Show BE THAT LAWYER, Ep Rick Watson: Building a Professional Network - Dec 21, 2023

Please come. It will be great as always

Baltic Sea Cruise - 8 countries - Protection Point Advisors, Inc. Back by popular demand, we are planning our next 2024 Friends of PPA trip: a cruise through the Baltic Sea, 8 countries: Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Denmark and Germany. We have a great rate at ~70% discount. We do not have a room block, so it is first come first serve with....

Join us for a captivating conversation with Richard Watson, author of "A Firm Worth Building" and founder of Protection Point Advisors. Dive into the world of financial analysis and discover how Richard's unique approach transforms businesses.

🚀 Richard's insights pave the way for growth and personal freedom. Click play now to unlock new possibilities!

🎙️http://bit.ly/3uZA2oE 🎧

🎧 Listen on Apple Podcasts: https://apple.co/3sIAAyd

Don't miss out on the wisdom shared in this episode! 🌟

I Survived Business Podcast interview I did just hit.
* ISBP Website: bit.ly/3uZA2oE
* iTunes (Apple Podcasts): bit.ly/3Np97bW
* YouTube: youtube.com/embed/HroMrCUxBr8?si
* Podcast Addict: bit.ly/47VWIol
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Company Culture & Employee Engagement | Understanding The... Today, we sit down with Richard Watson, the author of A Firm Worth Building: Running a Better Professional Business [https://www.amazon.com/Firm-Worth-Building-Professional-Business/dp/B0CCXPDQLH] and the founder of Protection Point Advisors. With a passion for financial analysis, Richard is comm...

Did you know that 99.9% of businesses in the U.S. are small businesses? While the spotlight often falls on large corporations, the reality is that small businesses drive our economy in a big way 💪

Whether you're looking to get a head start on your holiday shopping or simply want to make a positive impact in your local community, here are five ways to support your favorite small businesses.

Tag or link your favorite small businesses in the comments, and let’s get a running list going! ⤵️

Cyber Monday and Black Friday are right around the corner. As you prepare your budget, we want to extend a helping hand to guide you through the shopping frenzy 🛍️

Swipe through for some tips on staying within your budget and shopping smart 🛒

Have any tips that we left out? Drop them in the comments!

Despite the Supreme Court striking down President Joe Biden’s signature $400 billion student loan relief plan, they have still found ways to erase $127 billion in debt for student borrowers. The Biden administration has now forgiven ~$93 billion, which is up from less than half a billion before Biden took office, according to Bloomberg.

On this Veterans Day, we honor the courageous men and women who have selflessly served our country to safeguard the freedoms we cherish 🇺🇸

If you, a family member, or a loved one is a current or former service member, we extend our sincere thanks today and every day ❤️🤍💙

After years of losses, Uber seems to be achieving what many startups suddenly want after years of growth-at-all-costs: profitability.

"Golden Referrals and Trust Compression" feat Rick Watson is available now.
Host Jan Roos & Rick talk about some of the challenges that Accountants, Attorneys, Insurance Brokers, and Financial Planners struggle with in running their businesses. It's an excellent interview that gives some personal insight as to how to build successful habits that will sustain your firm well into the future.

Golden Referrals and Trust Compression with Rick Watson | Law Firm Growth Podcast Listen to Golden Referrals and Trust Compression with Rick Watson from Law Firm Growth Podcast. Golden Referrals and Trust Compression with Rick Watson>> Get the newest LFG episodes delivered to your inbox when you Sign Up for our Newsletter.>> Get the new book beyondintakebook.comResour...

In the midst of planning out your holiday feast, don’t forget the true essence of the season is gratitude. So, amid the holiday planning and turkey talk, let’s take a moment to appreciate all the blessings life has given us 🌽

Family, friends, and a table full of food - what more could we ask for? Let us know in the comments who or what you are grateful for this season 💗

Tesla remains the front runner in the EV market, with a commanding 61% share of all fully electric cars ever sold in the US, a dominance greater than that of Apple in smartphones.

Looking to save some money before the holidays? 💸

In light of National Financial Planning Month this October, let’s dive into some money moves that are spot-on for this time of year Swipe for some quick tips 👉

Got any other tips? Drop the in the comments below! 💬

"Forty percent of Americans admit to lying outright to their partner about money, or to having a secret credit card or bank account... With financial disputes consistently listed in the top reasons for divorce, it’s no wonder 15 million Americans are hiding secret credit cards and bank accounts."

Read More Here:

Why People are Dishonest About Money Why exactly are people dishonest about their personal finances? In this article, we take a look at some of the most common reason to why people might not be telling the whole truth about money.

More than half (51%) of American teenagers claim to dedicate a minimum of four hours per day to social media, with teenage girls surpassing their male peers by nearly an entire hour daily. The top three favored platforms were YouTube, TikTok, and Instagram.

A New Approach To Building Your Personal Brand

A New Approach to Building Your Personal Brand For better or worse, in today’s world everyone is a brand. Whether you’re applying for a job, asking for a promotion, or writing a dating profile, your success will depend on getting others to recognize your value. So you need to get comfortable marketing yourself. In this article a branding tho...

The country’s population has peaked sooner than anticipated, which will lead to a small base of working-age citizens supporting an increasingly large elderly population. This will likely weigh on China's economic growth, which is already beginning to slow.

Millennial Investing Statistics:

"33 percent of millennials prefer real estate investments when it comes to money they won’t need for more than a decade."

"75 percent of millennials say their personal values guide their investment decisions."

"Millennials think they’ll need $1.8 million to retire."

Investing Trends And Statistics For Millennials In 2022 | Bankrate Millennials have their own unique preferences when it comes to investing their hard-earned savings. Here’s some of the latest data on millennials and how they invest.

The federal minimum wage ($7.25/hour) has not changed since 2009, yet the amount of workers earning minimum wage or less has significantly declined since then.
Some see this as the "increasing irrelevance of the minimum wage" as the market has adjusted to inflation without government intervention.