Squam Lakes Financial Advisors LLC

Squam Lakes Financial Advisors LLC Fee-Only Comprehensive Financial Planning

03/10/2024

When we met, you were 30 years old, a single female with a law degree and five years in the workforce. You took my advice and began participation in the law firms 401-K Plan and have accumulated $37,000 as of 12-31-2023. The firm has just announced that they will match 100% of your 1st 4% of salary and you have decided you can afford to put in a total of 10% of Salary for a total of 14% beginning on 1-1-2024. You also told me you met a young (31 Year old) gentleman and he has been courting you now for two years and recently the subject of marriage came up and caught you off guard. You wisely asked him for an up to date financial statement as you remember me telling you not to get invlve with a poor guy and that "Cute" fads over time. You agreed to get back to me when his financial statement is forthcoming so we can review it together at that time. I told her how proud I was of her and to keep up the good work

02/24/2024

Good Size two-bedroom apartment available 3-15-2024. Maximum occupancy per Cohoes ordinances, 4 people. 2nd Floor front apartment in six family brick. Application required and 6 months of continuous...

02/14/2024

If you are under the age of 30, the time to begin planning for retirement is now. The incredible results of compounding can not be overstated. If you are single, take advantage of your company's 401-K plan, no less then up to the match. Anytime thereafter, add 1/2 of any raise to your contribution until you reach the max allowed by the plan. If you are married, the long term effects doubles. Never, never depend on potential inheritances. If and when they happen, your long term outlook will be enhanced.

07/02/2023

CashFlow - Part 3 of 3 Final Post

After providing advice on the family’s estate planning, property and casualty insurance, investment policy statements, ongoing needs for life insurance, medical insurance, long term care needs, we will then prepare a 25-year cash flow projection using extremely conservative assumptions to determine if you can actually retire as you planned.
Note that we practice on a “Fee-Only” basis. This means that we have no licenses to sell products, do not receive referral fees and our sole sources of income come directly and only from our clients. If we recommend an insurance product like, Long Term Care Insurance, we cannot sell it to you and only have your interests in mind. If you don’t have an insurance professional, we will provide some recommendations for your consideration and when the illustrations are available, will help you understand any other product.
We are here to help and your retirement, may in fact, be right around the corner. Gives us a call and our initial consultation is without fee. Good luck and we hope to hear from you

Cash Flow--The Key to Retirement Planning--Part 2 of 3Part 2 of 3Our experience is that the most difficult area to addre...
06/24/2023

Cash Flow--The Key to Retirement Planning--Part 2 of 3

Part 2 of 3
Our experience is that the most difficult area to address, early on, is the family’s current expenses, both fixed and variable. Without this information, it is almost impossible to address how they relate to their cash flow in retirement. A good example is whether the family will enter their retirement years, with or without a mortgage. Assuming they have the assets to pay off the mortgage, the issue becomes, should they pay off their mortgage?
We believe that going into retirement without a mortgage is both psychologically and financially a sound decision and we believe that we can prove this when we are asked for advice.
Most families believe the tax deduction for interest expense is helpful in reducing their taxes. Remember, most people no longer Itemize their deductions on their federal tax return due to the much larger exemption allowed under current law. $25,900 is available to married couples in 2022 and for those over the age of 65, the exemptions is $1,400 higher for each spouse or a total of $ 28,700. With this in mind, interest deductions may no longer be necessary to lower your taxes and without a mortgage payment, “Cash-Flow” requirements, “In Retirement” are reduced.

06/19/2023

Cash Flow--The Key to Retirement Planning (part 1 of 3)

Cash Flow-The Key to a Comfortable Retirement. (6-18-23)
As a fee-only financial advisor for 35 plus years, I have had the opportunity to work with hundreds of clients preparing for their approaching retirement.
Their questions are fairly simple. The answers may take many forms to address. Among the questions are the following:
1) How early can I retire?
2) Can I afford to retire as of a specific date?
3) Will my resources be able to replace my paycheck?
4) When should my spouse and I apply for Social Security benefits?
5) Where will my sources of income come from?
6) Should we roll-over our employer related retirement accounts
7) Will annuities play a part in our future planning?
8) Should ROTH conversions play a part in our future retirement plans?
A typical retirement engagement may take 4 to 8 months to complete. Our clients are asked to provide a great deal of information about their family, health, employment benefits, cash flow, assets and liabilities and a general outline of their goals and dreams.

Required Minimum Distributions for MinorsUp to the effective date of the Secure Act 2.0, if you named a minor the benefi...
04/23/2023

Required Minimum Distributions for Minors
Up to the effective date of the Secure Act 2.0, if you named a minor the beneficiary of a retirement account, the minor could make withdrawals over their lifetime. Otherwise known as a “Stretch IRA”. With the passing of the Secure Act, minors now are required to make minimum distributions beginning in the year after death of the owner and can use the stretch IRA tables until age 21 at which point, the beneficiary must begin making withdrawals over the next ten years with the account being entirely exhausted by the end of the tenth year. It’s important to keep in mind that a minor has a limited amount of unearned income that they can earn in their own tax bracket and once over approximately $2,500 of unearned income, and distribution from retirement accounts are deemed to be unearned income, they pay a tax at their parent’s bracket.

Mininum Required Distribution: With the recent changes in the secure act 2.0, and assuming you agree with me that incom...
04/08/2023

Mininum Required Distribution: With the recent changes in the secure act 2.0, and assuming you agree with me that income tax rates will have to be higher in the future than they are today, it may be a good idea to begin drawung down on your qualified retirement assets before your minimum required distribution date in an attempt to balance out and build after-tax equity in your personal portfolio. This thought process is totally independent of any thoughts on Roth Conversions and prudence may indicate a more conservative approach to taxation.

04/17/2022

Happy Easter to Family and friends

Address

31 Coxboro Road
Holderness, NH
03245

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+16039682317

Website

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