Root Financial Partners

Saving 10-15% of your income may not be enough. 😬 This common guideline is one of many that offers a misguided approach to retirement planning and leaves out large pieces of the picture. Learn which financial rules you should be wary of and why 👉 https://lnkd.in/e6E-BzXU

What’s one simple thing you could do to prevent against each of these risks? Find out in our latest video: https://lnkd.in/e-hCb67P James walks through how each of these factors poses a risk to your retirement and explains one thing in each category that can help protect you.

✔️ Assessing income + assets ✔️ Identifying goals + priorities ✔️ Planning for healthcare + housing ✔️ Evaluating income + expenses ✔️ Exploring retirement timing ✔️ Adjusting lifestyle + spending That’s how we helped Tommy and Monica get the most out of their retirement years based on their portfolio. Watch for a deep dive into exactly what we did 👉 https://lnkd.in/e9beFB8z

Let’s get down to business: here are 5 tips to maximize your Social Security spousal benefits 👇 ✔️ Determine if taking spousal benefits is the right move for you ✔️ Wait until full retirement age to collect ✔️ Wait for your spouse to start collecting ✔️ Understand how your and your spouse’s benefits combine ✔️ Look beyond Social Security income (consider taxes, portfolio withdrawals, and opportunity costs) Understanding the ins and outs of Social Security can help you maximize your benefits. Here’s a more in-depth look at each of these essential tips: https://lnkd.in/dXxATka9

Are you retiring in your 60s? 👀 Here is a brief checklist to make sure you’re in a good spot to retire on time: ☑ You know your retirement number ☑ You have an investment transition strategy ☑ You have a tax plan that will optimize your retirement income ☑ Your assets are protected ☑ You know what you’re going to do in retirement Each of these targets are essential for a successful retirement. Watch our video here 👉 https://lnkd.in/eSRb87vx to understand how these goals affect your retirement.

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We’re feeling reflective today, looking back on our 2024 Spring Retreat as a team. 🪞👀 We have a unique and incredible team. There’s truly no better way to build a company that you’re proud of than by prioritizing a good culture. Your vibe attracts your tribe, so not to brag, but we must have a pretty great one. 🤩 See our careers page to join us: https://lnkd.in/e7pYcKcF

Nobody wants to pay a lot of taxes, especially in retirement. One of the reasons why taxes end up eating retirees’ savings is due to poor planning or lack thereof. Here are 3 Simple Ways to Minimize Taxes in Retirement 👉 https://lnkd.in/dzRsVwzW Optimize Social Security - If you and your spouse delay taking benefits until age 70, you’ll have the highest annual payout. Depending on your other income sources, you could end up with zero federal and state taxes due to the way Social Security is taxed. Want to learn more? Watch our video, where James uses real-life examples to show how optimizing Social Security, tax gain harvesting and strategic income shifting can help you save significantly on taxes.

If you’re working, you should be saving for retirement. Once you retire, then you can enjoy what you’ve worked so hard for…right? Sorry, but this is a misguided way of thinking. 😬 It’s true that you should be preparing for retirement, but at the same time, you should also be fully enjoying your life along the way. Because otherwise, what’s the point of working so hard? Balancing both can take some time and energy, but it’s well worth it. Here’s some tips on how to enjoy your money and prepare for retirement: https://lnkd.in/ds8YfVqd

Is your advisor setting you up for failure in retirement? This may sound harsh, but even a good advisor might make this common mistake with your asset allocation ⬇️ https://lnkd.in/ee8bSuXG Placing investments in accounts to minimize taxes sounds like a solid strategy. But, the execution often lacks long-term foresight. James walks through an example using Vanguard to show what can go wrong and how to get more value from a similar approach.