Planning Your Retirement Income

As you amass assets during the course of a lifetime, its easy to forget about how much you have and what its worth. Art in the attic, classic cars in storage, retirement accounts across multiple employers: if youre not aware of it all, your portfolio can lose value quickly. A financial advisor who offers assets under management services does so to protect your portfolio from the inevitable changes that your assets can undergo over time.Assets Under Management Strategies in Lancaster, Pa.The first asset you acquire in life, whether its a beatup car or a few shares of a brandnew company, is usually a gamechanging event. Its the first step on what is hopefully a journey toward a lucrative portfolio. Leveraging your assets to build your wealth is more than just financial jargon, its a path that can increase your wealth over time, so you can accomplish everything on your list.A financial advisor at a boutique retirement firm can take the time to get to know who you are and how you invest. At Bodnar Financial Group, Len Bodnar, RICP (R), is there to help his clients get a handle on their assets, so he can help you strategize them for better margins.For instance, a failing asset may need to be either sold or converted, depending on details behind the investment. A middlerange asset may need to be adjusted to optimize its performance. Finally, your strongest assets may need to be carefully watched, so a financial advisor can capitalize during the best of times and protect your wealth if and when it bottoms out.Theres a lot to be said for how assets change while you own them, and its not always easy to know when to cut and run from a property or when to stick with it. If you dont have the time or the inclination to spend on managing it all, the right financial advisor can help mitigate the stress. Its just one less thing to worry about as you get closer to your last day on the job. 

Life insurance can end up being a smart addition to your portfolio, but you may wonder which policies will work to your advantage. With so many options out there, it can help to work with a financial advisor who understands more than just the perks of different carriers.Bodnar Financial Group, helmed by financial advisor Len Bodnar, RICP (R), is a boutique retirement firm that carefully curates your assets so they mesh with the rest of your retirement goals. If youre searching for a plan with a reasonable premium for the benefits it offers, its worth talking to an expert with some context about your loved ones and your lifestyle. Life Insurance: What You Should KnowThere are two general types of life insurance, and its important to know the basics behind the categories. Its easy to choose a term life insurance policy because the premiums are extremely reasonable even though this policy may not be what you want in the long run.A term life insurance policy will end on a certain date. If the policy isnt used by then, it expires. Most people will opt for this policy if they have children that they want to provide for up until a certain age. For instance, you might end your policy date when your youngest child finishes their Ph.D.A permanent life insurance policy wont expire, and it may even carry a savings component, in case you need it. While the premium cost will be higher, the actual benefits may work better to safeguard your portfolio from taking a bigger loss. If you have questions along the way, your advisor can tell you more about what to expect.Bodnar can tell you about how different insurance carriers structure their policies and why certain plans may not offer any real value under the circumstances. Because a financial advisor knows both your preferences and the state of your assets, they can help you protect your beneficiaries when youre gone while still protecting you during your retirement years.  

Most people think that theyre managing their taxes as well as they can, regardless of whether they opt for the standard deduction, hire a CPA every year, or painstakingly comb through every line item. The reality is that no matter how you file, youre likely missing a few opportunities. When it comes to efficient tax management, its more than knowing every nuance of the local, state, and federal tax codes. Why Efficient Tax Planning is Critical in Lancaster, Pa Efficient tax management is a financial concept that shines a light on your portfolio in relationship to your larger retirement goals. A financial advisor will be able to see your taxes from every angle, which can help them make more lucrative decisions for your longterm future. For instance, if your capital gain taxes for next year are going to eat into your investment opportunities, your advisor may recommend deferring the taxes so you can maximize your returns. Even though you will have to pay the taxes at some point, the overall margins will be improved by the financial advisors plans. A financial advisor at a boutique retirement firm doesnt just know your investment strategies. In other words, theyre aware of more than just your personal relationship with risk and if you prefer to invest in the market or in real estate. At Bodnar Financial Group, you get to work with an expert who takes the time to find smarter strategies for you. When so much of your income goes to taxes, you have to ask yourself when you can use the tax codes to your advantage. The right professional can make a major difference to your bottom line, and this is true no matter how you envision yourself spending your golden years. Even those who have little more than a few modest demands for themselves may find that they want to support a specific charity or fund their grandchildrens college years. At Bodnar, you get all the guidance you need to achieve your goals.