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The weekly email that keeps you up to date on exciting Retirement topics in an enjoyable, entertaining way for free.

Special Announcement

Novus Financial Group is in the process of scheduling its first seminar of 2024. The topic of the seminar is Estate Planning and our special guest speaker is Lori Posani of the Posani Law Office (https://www.posanilawoffice.com). The seminar will be held in Columbus, OH. Stay tuned for more information on the agenda and how you can reserve your seat(s). Dates will be announced next week!

Creating Generational Wealth to “Change Your Family Tree”

by Eric Seyboldt

Building wealth across generations is a skill that involves more than just saving money; it entails thoughtfully managing your finances in a way that benefits your descendants for many years ahead. For those in retirement, it's not merely an option but a duty to make sure their accumulated wealth lays a strong foundation for the financial success of future generations.

A critical initial step on this path is detailed estate planning. This process goes beyond simple decisions about who inherits what, focusing instead on making certain your assets are passed down to your loved ones efficiently and with minimal tax implications. Utilizing trusts is a noteworthy strategy in this context, as they can protect your assets from excessive taxation and potential creditors, ensuring more of your wealth stays within the family.

Investing in tax-friendly vehicles such as Roth IRAs for the younger members of your family is another wise approach. These accounts provide tax-free growth, offering a meaningful legacy to your heirs by enabling them to reap the benefits of your planning without the worry of taxes. Likewise, putting money into 529 plans for educational purposes can vastly reduce the financial burden on the next generation, allowing them to chase their aspirations without being weighed down by debt.

Additionally, incorporating life insurance into your strategy for transferring wealth can bring a twofold advantage: it ensures your beneficiaries have financial support immediately following your death and acts as an efficient method for passing on your wealth.

An often overlooked but vitally important component for maintaining generational wealth is long-term care insurance. The expenses associated with long-term care can quickly diminish a lifetime of savings, threatening not just the financial stability of the retiree but also the legacy meant for the heirs. By obtaining long-term care insurance, retirees safeguard their wealth from being drained by healthcare costs, making sure their financial legacy persists for their descendants.

Contact us to schedule a free, 10-minute consultation call. Together, we can discover ways to ensure that you too can “change your family tree” and make sure your later years are as joyful and carefree as you've envisioned. Drop us an email or call us now to book your consultation. Let's turn your retirement aspirations into reality!

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TIP OF THE WEEK

Securing Your Financial Future: The Power of Retirement Income Laddering

by Eric Seyboldt 

Planning for retirement is essential for enjoying a secure and financially stable life after you've stopped working. A smart approach that individuals looking forward to retirement might consider is the use of an income laddering strategy. This method is designed to organize your investments to generate a constant and reliable flow of income throughout your retirement.

The principle behind income laddering is to spread your investments over a variety of financial instruments that mature at different times. For instance, someone preparing for retirement could diversify their investments into short, medium, and long-term bonds, or blend CDs (Certificates of Deposit), annuities, and stocks that pay dividends. The objective is to setup these investments to mature in sequence, ensuring that part of your portfolio is liquidated at regular periods. This technique not only guarantees a steady stream of income but also reduces risk by dispersing your investments among various classes of assets and over different periods.

Additionally, income laddering proves to be a strategic tool in countering inflation risk. As investments reach their maturity, the money can be reinvested into options that yield a higher return if interest rates have increased, potentially boosting the retiree's income progressively. Furthermore, this methodology affords flexibility, enabling retirees to realign their investments according to evolving financial needs and market trends.

For the successful execution of a strategy focused on retirement income laddering, a thorough comprehension of the variety of investment products and the dynamics of the market is crucial. This is where obtaining advice from a financial advisor becomes invaluable. At Novus Financial Group, our advisers have the know-how to assist you in designing a personalized income laddering plan that resonates with your retirement ambitions and financial circumstances. We invite you to get in touch with us to discover how we can support you in achieving a secure and flourishing retirement.

Client Q & A of the Week - The Critical Nature of Estate Planning

Client: Mark, we’ve gone through a difficult time lately settling my mother’s estate. What can we do to make sure that we’ve taken care of our financial issues so that our kids don’t have to go through the same problems when our time on Earth is through?

Mark: Estate planning is an indispensable pillar of comprehensive retirement strategy, often misconceived as a concern exclusive to the affluent. However, the veracity is that irrespective of the magnitude of one's estate, navigating the intricacies of legacy and succession is paramount. The essence of estate planning transcends mere asset distribution; it's about ensuring that your wishes are honored, potential legal hurdles for your heirs are mitigated, and your financial legacy is passed on in the most tax-efficient manner possible.

At the core of a robust estate plan is the will—a foundational document delineating your desires regarding the dispersal of your assets. Yet, the scope of estate planning encompasses more sophisticated instruments like trusts, which offer enhanced control over the timing and conditions under which your assets are distributed, simultaneously offering a shield against probate and potential estate taxes.

Beneficiary designations on accounts such as IRAs, 401(k)s, and life insurance policies are equally critical. These designations often supersede instructions in a will, underscoring the necessity for consistency across all elements of your estate plan to prevent unintended disinheritance or legal disputes.

Moreover, estate planning should be approached as a dynamic process. It demands periodic review and adjustments in response to life events—marriages, divorces, births, and deaths—as well as fluctuations in the legal and tax landscape. For instance, changes in estate tax laws might necessitate strategy modifications to optimize tax efficiency.

Engagement with a qualified estate planning attorney is instrumental in navigating these complexities. Their expertise can guide the structuring of your estate to achieve your specific objectives, ensuring your legacy is preserved and conveyed according to your wishes, thereby providing peace of mind to you and your heirs. This deliberate and informed approach to estate planning is not merely about wealth preservation but about crafting a lasting testament to your life's work and values. When you work with Novus Financial Group, you will have access to one of the top Estate Planning attorneys in Ohio, Lori Posani (https://www.posanilawoffice.com). We work closely with Lori to make sure that there are no gaps in your estate or financial plans.

We will be announcing the first two dates of our 2024 Estate Planning Dinners in next week’s newsletter, so be sure to RSVP before the seats are filled.

Please feel free to email Mark at [email protected] if you’d like to ask any questions or request information on retirement topics that are on your mind.

REAL ASSETS, Invest Like the Ultra-Wealthy 

Is the US Dollar going to have much value in the future?

In the current climate, where many Americans are seeking ways to broaden and safeguard their retirement funds amidst economic and global instability, we offer some solutions.

Facing a range of challenges, from debt limit concerns, rising inflation, elevated interest rates, significant government expenditures, to the weakening of the dollar and generally erratic markets, we are confronted with a scenario that is unprecedented in our country's history.

Adopting a defensive investment approach is increasingly being recognized as a wise move. This entails transforming a portion of your IRA or 401(k) into tangible assets like gold or barrels of Bourbon.

Allocating funds into the asset class known as “Real Assets” may be a strategy that you should consider.

Ask us how to Rollover a portion of Your IRA or 401k To A GOLD IRA (link below) or a BOURBON IRA (www.bourbon.fund/how-it-works/) and:

• Safeguard your assets from the collapsing dollar

• Incorporate the ‘REAL ASSET’ class into your portfolio like the ultra-wealthy

• Hedge against the current high-inflation conditions

• Protect your retirement assets against economic crises

Just get in touch. We make it easier than ever.

Feedback or Questions?

You’re invited to get in touch with us if you’d like to find out how the Novus Financial Group can help you on your journey to a happy, fulfilling life in Retirement. 

We have a lot of great information, as well as podcasts from our radio show ‘The Financial Insider’, and tools on our website - www.novusfg.com.

[email protected] www.novusfg.com [email protected]

Office: 614-943-2265

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Investment advisory services are offered by duly registered individuals on behalf of CreativeOne Wealth, LLC a Registered Investment Adviser. CreativeOne Wealth, LLC and Novus Financial Group are unaffiliated entities.

The content we provide here isn’t financial advice and cannot be taken as such. Please speak to your financial advisor before making any investment decision. Also, note that every investment comes with its risks and drawbacks. Lastly, we would like to remind you that past results cannot guarantee future returns.

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