22


PALM TREE


Planning for Today and Your Legacy


Although talks about paying for senior care can be emotionally charged, they are necessary. It is important to understand what services you require and everything that is included. Understanding what fi nancial options are available can help streamline the search.


Tax and Cost Considerations


Some people enter retirement with investments in both taxable and tax- advantaged accounts. Which accounts should you draw money from fi rst or later in retirement? To answer this question, and other retirement pitfalls, a qualifi ed fi nancial professional would need to review your fi nancial situation so they can better understand your goals and risk tolerance.


A few fi nancial adjustments may help you manage your tax liabilities. The biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there—and if you’ve even arrived.


Holistic Portfolio View


Just like a car needs routine maintenance, so do your investments. Without the help of a fi nancial professional, retirement and estate planning is not impossible, but can be a very tough and long process.


It is important to evaluate your investments to make sure they still align with your current risk tolerance, time horizon, and goals/objectives.


Times change and so do investments, so making sure that capital preservation and risk tolerance are completely in line with your current attitude can save time and money for the future.


22


ELDER LIVING GUIDE


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