PROBLEMS WE SOLVE
HOW WE CAN HELP
As you get closer to retirement age, it’s normal to start reevaluating your portfolio. Do you have the right investments to protect yourself in the future? Will you have enough secure income to cover your expenses and then some? Whether you’re looking to fund the next few generations or you crave a rustic cabin where you can catch your own dinner, the right financial advisor can make a world of difference in your comfort levels.
At Bayside Retirement Services, a boutique firm in the Tampa Bay, Fla., area, you’ll find advisor Glen McGaha. His job is to spot the gaps in your portfolio that you may have missed, and find out more about your idea of an ideal retirement. Whether you’ve focused on one industry in the market or you favor tangible property like real estate, there are probably at least a few opportunities you’re overlooking. This is the chance to learn more about the many resources that can help you build a retirement plan that will stand up to anything from a
massive recession to severe inflation.
MAXIMIZING SOCIAL SECURITY
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TAX-FREE RETIREMENT
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RETIREMENT INCOME PLANNING
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ASSETS UNDER MANAGEMENT
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MAXIMIZING SOCIAL SECURITY
In 1935, Social Security was introduced as a way to give people a living wage when they were no longer able to work. Over the years, the program has morphed in numerous ways, with many losing trust in the system’s ability to help them pay mounting expenses as they age. If you live in Tampa Bay, Fla., you may even think that there’s nothing to be gained from learning more about its many rules and regulations.
However, if you ignore Social Security, you could easily overlook the opportunities of its benefit statements. A financial advisor like Glen McGaha can tell you more about how to file your paperwork, so you’re not leaving any money on the table.
How to Maximize Social Security
Maximizing Social Security starts with tapping into the details of the program, particularly the specifics of where you worked and how much you paid over the years. Because the forms to file are complex, people may misunderstand questions, which ultimately costs them thousands of dollars in lost benefits over the years.
McGaha would never advise one of his clients to rely solely on this government–run program. The truth is that most people will never net nearly enough of what they need to lead the kind of life they imagine. However, he will tell you that the monthly checks can be an excellent source of secured income. Because you can count on the money to come like clockwork, it can be used for anything from groceries to utilities. It’s a great way to supplement the many other assets you’ve managed to build.
The key is not to assume that what you make will be anything like what your friends, neighbors, or relatives make. If you know someone who’s receiving very little in Social Security, it may be for any number of reasons. When you file correctly the first time with the help of an advisor like McGaha, you can be sure that your benefits are as high as they should be. That’s a good thing, too, considering how much you’ve already paid into the system.
Tax-Free Retirement
Taxes have been so ingrained in us that anything described as tax free may sound like little more than a hoax. If you live in Tampa Bay, Fla., though, there may be a few strategies that you haven’t considered for your retirement. If you want to learn more about how to avoid paying too much, talking to a financial advisor like Glen McGaha might be just what you need to start sketching out a very different future for yourself and your descendants.
What Is a Tax-Free Retirement?
A tax–free retirement essentially examines the local, state, and federal tax codes, and how each relevant clause affects your assets. At Bayside Retirement Services, a boutique financial firm, you’ll find a qualified professional who can tell you more about how it all breaks down. From the latest changes in the laws to long–standing advantages that you may have overlooked, the reality is that there’s a lot to know about tax codes. Unless you’re planning to study it all, having a trusted partner by your side to walk you through it all is the next best thing.
While many of his clients may know a lot about taxes, particularly if they have an existing accountant who looks out for their bottom line, a financial advisor has a very different vantage point. From deferred taxes to charitable trusts, there are a number of avenues that retirees can take advantage of. Exploring all of those potential paths before they actually retire can be exactly what they need to actually achieve the goal. If you’re asking how to have a tax–free retirement, or, at least as close to a tax–free retirement as possible, it starts with giving yourself enough resources to really answer the question.
McGaha isn’t here to help you cheat the system. Instead, he wants you to avoid giving out a tip when there’s no reason to. Whether you want to spend more on a charity of your choice or you have a more lucrative opportunity that you want to pursue, a good financial advisor will help you plan ahead.
Retirement Income Planning
How much do I need to retire? This common question has been asked and answered countless times by people of all ages. The reality is that there’s no one answer that you can count on, despite those who might have you believe that $1 million is the right figure to aim for in retirement. In fact, for most people, it comes down to how much money they have coming in every month.
Known as secure income, the goal is to pack as many types of income as possible into your retirement plan, so you can be certain that you have enough to cover your everyday expenses as well as for unexpected emergencies. At Bayside Retirement Services, you’ll meet Glen McGaha, a financial advisor who can give you more details about how to create a plan as efficiently as possible before you reach your retirement age.
Retirement Income Planning in Tampa Bay, Florida
Income planning is the art of replacing your monthly paycheck. Because your salary is what many people rely on day in and day out for their welfare, financial advisors attempt to plan retirement in the same way. After all, you want your retirement to be just as stable as your working years.
Ideally, you won’t just be withdrawing from your savings to achieve this, either. From Social Security to rental checks courtesy of your long–term properties, there are a number of avenues to pursue. Some retirees will supplement their income with a part–time job in a field or industry they love, like working in a wine tasting room or music shop. Others will choose to be landlords or pursue lucrative pensions for their retirement.
If you’re interested in how to plan your retirement income, the key is to talk to a financial advisor who can show you all the options and help you figure out which one is right for you. Not everyone will want to commit to owning multiple properties, but they may want to pursue an emerging sector in tech. Whatever you choose to do, having a partner can make it easier to scope out before retirement.
Assets Under Management
Assets under management is a financial principle designed to keep careful track of your portfolio. When implemented correctly, it means that you can rest assured it’s performing the way you need it to.
If you’re looking to protect your wealth as you get closer to your retirement age, Bayside Retirement Services is here for the residents of the Tampa Bay, Fla., area. You’ll meet financial advisor Glen McGaha, who can tell you more about the specifics of this tactic. You’ll learn about the rules of money management and what can be done to really maximize your holdings.
Assets Under Management Services
At a reputable boutique firm like Bayside, your accounts are handled by sub–advisors who understand how to manage risks in a way that complements your portfolio. Regardless of what your personal tolerance is for risk, the larger goal is to diversify your investments for more lucrative long–term outcomes.
Assets under management strategies are a way to bring all of the facts into the foreground. This is sometimes more necessary than many investors realize. If you’ve been playing the game for a few decades now, it’s easy to lose sight of how your individual accounts are faring over the years. You might know the general margins of your portfolio, which may help reassure you that you’re on the right track. However, you might also be missing the stagnation or loss along the way that ultimately leads to missed opportunities.
Having another set of eyes and ears on the matter can be exactly what you need to catch small snags before they lead to major errors in your portfolio. If you want to prepare for the future, this is one of the best ways for individuals and families to maximize their assets. It’s important to get a professional who’s familiar with not only your investment style,but also your goals for retirement. Whether you’re planning to stay in Florida or travel the globe for the next decade, a good advisor will be able to prepare you for it.
