Nick Savoy - Northwestern Mutual

08/22/2024

Had a conversation with a friend this morning that stirred an interesting conversation…

Is the challenge that things “can be that simple” or our ability to accept that things “can be that simple”?

08/03/2024

“If the devil can’t make you sin, he’ll make you busy. Both sin and busy have same effect-they cut off your connection to God, your inner soul and other people.” - Corrie ten Boom

01/08/2024

Out of curiosity, if the largest and wealthiest banks in America utilize life insurance for their top tier (tier 1/safest) assets, why shouldn’t we consider a viable asset in our overall financial plan and portfolio?

11/11/2023

Happy Veteran’s Day to all active and inactive military vets. Thank you for your servant leadership in protecting us, our families and our country. Truly grateful and honored to celebrate you!

11/08/2023

Closely held business owners 🚨!! Business thriving, taxable revenue growing and looking for ways to lower your taxes before the end of the year?! Consider implementing retirement plans, deferred compensation plans, employee benefits, etc. All are eligible tax deductions that allow ability to make strong revenue/income but pay less taxes.

Curious what options are best for you? Let’s connect 765-414-0092!

11/03/2023

BREAKING 📰!

The IRS has announced new contribution limits into retirement accounts for 2024.

IRAs:
Individuals under age 50: max contribution increasing from $6,500/yr to $7,000/yr

Individuals 50 and over: eligible for additional $1,000 catch up contribution/yr to bring total from $7,500/yr to $8,000/yr

Note: they are also increasing phase out income thresholds across all taxpayer classes.

401k/403b:
Individuals under age 50: max contribution increasing from $22,500/yr to $23,000/yr

Individuals 50 and over: eligible for additional $7,500/yr catch up contribution to increase total contribution limit from $30,000/yr to $30,500/yr

Note: income threshold phase out doesn’t apply to employer 401k/403b retirement accounts.

Simple IRA:
Contribution limit increasing from $15,500 to $16,000.

Curious, what are the best options for you? Let’s connect to explore.

06/24/2023

Learn about the most common retirement saving accounts, including a Roth IRA, IRA, 401(k), and Roth 401(k), and how they can help you save for retirement.

02/23/2023

Teaching our kids about money and personal finance can be challenging. In this article, we interviewed Robin Taub, award-winning author of the best-selling book The Wisest Investment. Here’s her advice on raising money-smart kids: https://www.northwesternmutual.com/life-and-money/raising-money-smart-kids-a-qa-with-robin-taub/

02/23/2023

Starting a business? It is important to focus on the process and fail forward. That’s right, failure is a key step toward success. Think of the process as a circle. Every time you have a setback, learn from it, and put the learnings back into the cycle until you succeed. Reach out anytime, and let’s discuss.

02/22/2023

For most business owners, their business is their #1 asset to fund their long-term personal financial plan. According to a Northwestern Mutual/Forbes survey, only 34% of business owners have a fully formed succession plan.

Do you have a succession strategy that aligns with you? Let's connect to discuss and review your exit strategy today.

According to a Northwestern Mutual/Forbes survey, 74 percent of business owners want to take steps to ensure their businesses live on long after they’re no longer running them.

12/26/2022

Huge change to 529 plans allowing tax-free transfers to Roth IRAs for unused education funds.

Lawmakers say new rules would rescue funds from tax penalties and promote more college savings. Others think the measure amounts to a tax break for wealthy.