Make the Most of Opportunities Now, Later, and Throughout Your Lifetime.
You probably feel the pressure already. Inflation, market fluctuations, rising healthcare costs — the list goes on. One thing is for sure: You can’t always predict how far your dollar will go, especially in times like these. More than ever, it’s important to focus not just on earning income, but making the most of your money. Finding ways to help maximize your income can play a big role in your financial security down the line. Fortunately, there are actions you can take now, and at every phase of life.
Make the most of opportunities now, later, and throughout your lifetime. In this guide, you’ll find practical strategies for helping your income work harder and go farther. Discover ideas to implement during your peak earning years all the way through retirement — and start feeling more confident about your financial future today.
Get more out of your money.
STRATEGY #1 Leverage your peak earning years.
Your 40s and 50s are the optimal time to focus on financial growth. Why? All your hard work is finally paying off — you’re likely climbing to new heights in your career and unlocking bigger financial opportunities along the way.
- Increase contributions to your retirement accounts.
- Minimize lifestyle inflation.
- Prioritize high-impact investments that align with long-term goals
STRATEGY #2 Use bonuses and windfalls strategically.
Expecting a performance bonus at work? Maybe equity compensation from an employer? Thinking strategically about how you allocate these funds can put you on the fast track to building wealth and long-term financial stability.STRATEGY #3 Implement tax-efficient investment strategies.
With some smart tax planning, you can help maximize what you make, plant the seeds for long-term capital growth, and even save toward future goals, like
funding education, or caring for a special needs child or aging parents.
- Diversify fund allocation.
- Think long term.
- Get proactive with your equity compensation.
STRATEGY #3 Implement tax-efficient investment strategies.
With some smart tax planning, you can help maximize what you make, plant the seeds for long-term capital growth, and even save toward future goals, like funding education, or caring for a special needs child or aging parents.
- Save early for education.
- Balance your asset allocation.
- Harvest investment losses to offset gains.
- Pay into tax-advantaged accounts.
STRATEGY #4 Maximize your retirement income.
Retirement should be spent doing the things you love, not worrying about your next paycheck. That’s why it’s important to find ways to turn the savings you already have into sustainable income streams that last throughout your retirement years.
Did you know? According to research, a 3.7% initial withdrawal rate from retirement portfolios offers a 90% probability of sustaining funds over 30 years.
- Optimize Social Security.
- Consider purchasing annuities.
- Opt for permanent life insurance.
- Strategically draw down investments.
Ready to maximize your income? Let’s connect.
Could your money be working harder for you? Check out this guide to learn how to maximize your income and feel more confident in your future.
Download the Maximizing Your Income PDF
Rich Carmel
Financial Professional
Skylight Financial Group
Office : 513-777-3088
Cell : 586-453-9994
rcarmel@financialguide.com
