Month: January 2024
Don’t be afraid to spend in retirement
Navigating the financial landscape in retirement can be a daunting task. It's like trying to pass through a jungle of expenses – health care, taxes, and long-term care costs all taking a piece of the hard-earned nest egg you've been building for ages. And just when you think you've got it all figured out, here comes the rollercoaster of economic uncertainty. In the face of such high stakes, it's no wonder the prospect of spending in retirement can be overwhelming. But with our team of financial professionals behind you, you can take steps to help you reclaim control and ease the anxiety associated with post-retirement expenditures. Embarking on the journey toward retirement becomes much smoother when you proactively create a budget beforehand. This invaluable tool allows you to gauge your anticipated expenditures and income streams once the daily grind is behind you. It's crucial to take stock of the various income sources at your disposal, such as Social Security, pensions, and 401(k)s, while also factoring in inevitable expenses like taxes, health care, and long-term care. When you're getting budget-savvy for retirement, start by figuring out what's a must-have and what you can let slide. Let's say you're dreaming of a retirement filled with jet-setting adventures. Well, that travel fund needs to be part of the grand budget plan. And let's not forget the inevitable: taxes. It's a good idea to give taxes a special seat
Financial Resolutions to Help Make You Wealthier in the New Year
We’ve been working with private and corporate clients for nearly 30 years. Every year at this time, we meet new clients who want to drastically overhaul their finances, and set themselves up for increased wealth in the New Year. We’ve put a list of 5 resolutions that we always share and that you can put to work for you, too. Resolution No. 1 First things first. The base of any good financial plan is insurance because it helps you control risk. You can have the best financial plan in the world, but if something happens to you or your family, you need to be protected to keep your plan in solid footing. You first want to take the time to make sure all your insurances are in proper order. This includes Life insurance, disability insurance, and even property and casualty. Because we specialize in working with retirees, long-term care is especially important to our clients. According to the U.S. Department of Health and Human Services, 70% of people aged 65 or older are likely to need long-term care at some point. Finally, you may want to consider an umbrella policy, especially if you have rental or vacation homes. Resolution No. 2 Your financial goals, both long and short term, should be driven by your personal goals – whether that’s providing for children and grandchildren, sending them to college, passing the family business to the next generation, or preparing for your own retirement and the traveling you want to do, you should
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Case studies are intended to illustrate the types of financial issues faced by actual clients. They should not be construed as a testimonial for or endorsement of Lineweaver Wealth Advisors. They do not represent the experience of any advisory client. Each client’s situation is different, and their goals may not always be achieved. Lineweaver Wealth Advisors, LLC, is not engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Tax rules and regulations are subject to change at any time.
Crain's Cleveland Business is a print and online newspaper delivering local business news and information to Cleveland's business executives, which is published by Crain Communications Inc. The Crain's 2024 list may employ different methodology than described above for similar designations granted in other years. No clients were consulted and no fees were paid to determine the winners; the award is based on assets under management. Neither the participating candidates nor their employees pay a fee in exchange for inclusion on Crain's 2024 List. However, recipients may pay a fee to Crain, an affiliate, or an unaffiliated third party in exchange for plaques or article reprints commemorating the designation. The publication should not be construed by a client or prospective client as a guarantee that they will experience a certain level of results if the recipient is engaged, or continues to be engaged, to provide investment advisory services; and should not be construed as a current or past endorsement of the recipient by any of its clients. Lineweaver Wealth Advisors was ranked in the Top 25 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2024. In 2023, Lineweaver Wealth Advisors was ranked in the Top 15 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2023. In 2021 and 2022, Lineweaver Wealth Advisors was ranked in the Top 20 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2021 and 2022 respectively.
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