Grand Life Financial

08/19/2025

The new tax and spending law’s overall effect is more nuanced than the headlines suggested, but there are some clear wins for high-net-worth households to lock in long-term tax efficiencies.

The July 2025 signing of the new tax and spending law, H.R.1 One Big Beautiful Bill Act (OBBBA), preserved key elements of the 2017 Tax Cuts and Jobs Act (TCJA), as well as introduce many new tax policies. The bill has more than 800 pages (see final text), many provisions of which do not

06/30/2025

https://www.linkedin.com/posts/wealthtender_what-to-do-with-excess-cash-how-to-turn-activity-7345458606210805761-oP8b?utm_source=share&utm_medium=member_desktop&rcm=ACoAAACWqkEBB3tYhmmjI8FvzjrmDwGu-EcVXJs

A new article with 💬 from John Foligno published on Wealthtender. https://lnkd.in/gUT-yRVM Disclosure: Wealthtender earns money from financial professionals & advisory firms in exchange for marketing services. This creates a conflict of interest when we favor their promoti...

06/13/2025

Are You Financially Ready for Retirement? Key Signs and Strategies

Preparing for retirement is more than just picking a date to stop working – one vital component is about knowing whether you're financially ready to maintain your lifestyle for decades to come. Many individuals feel overwhelmed or uncertain about when they can confidently retire. From understanding your income sources to managing taxes and healthcare costs, this guide covers the essential steps to evaluate your financial readiness.

https://grandlf.com/how-do-i-know-if-i-am-financially-ready-for-retirement/

04/29/2025

If you have highly appreciated company stock inside your 401(k), using the NUA tax strategy can be a powerful way to cut your future tax bills.

When you contribute to a 401(k), your investments grow tax deferred. But when you start taking distributions, you typically pay ordinary income taxes on the entire amount withdrawn. However, if you own your employer’s publicly traded stock inside your 401(k) — and that stock has appreciated in v...

03/27/2025

Turn Investment Losses into Tax Savings with Tax-Loss Harvesting
Tax-loss harvesting is a powerful strategy that allows investors to convert investment losses into tax deductions while maintaining their overall portfolio balance. This approach is particularly useful for minimizing short-term capital gains, which are taxed at higher rates than long-term gains

Tax-loss harvesting is a powerful strategy that allows investors to convert investment losses into tax deductions while maintaining their overall portfolio balance. By strategically selling underperforming investments in taxable (non-retirement) accounts, you can offset capital gains and reduce your...

03/13/2025

For most people, determining the right time to retire can be extremely challenging. You have financial as well as lifestyle adjustment considerations, and those things are not so simple to figure out. But with some thoughtful planning, the choice may become more clear.

For most people, determining the right time to retire can be extremely challenging. You have financial as well as lifestyle adjustment considerations, and those things are not so simple to figure out. But with some thoughtful planning, the choice may become more clear to help answer your big questio...

02/28/2025

https://grandlf.com/how-can-i-reduce-my-taxable-income-before-and-after-retirement

Learn effective strategies of how to reduce taxable income and minimize your tax burden during and after retirement.

02/18/2025

Tax Deductions and Credits: What you Need to Know

It is difficult to keep track of the tax deductions and credits, so here are some that may help you keep more of your hard-earned money.

Tax Deductions There are two main ways to claim deductions: the standard deduction or itemized deductions—but you can only choose one. The standard deduction is a fixed amount that lowers your adjusted gross income (AGI).

11/07/2024

Am I ready to retire?

For most people, determining the right time to retire can be extremely challenging. You have financial as well as lifestyle adjustment considerations, and those things are not so simple to figure out. But with some thoughtful planning, the choice may become more clear.

Savings & Income
You will likely have savings in the form of retirement plans, like a 401k or IRA, perhaps deferred compensation or stock options, investment income from your non-retirement accounts, real estate or a trust, and some social security retirement benefits. And then there’s the expenses during retirement, which can fluctuate over the years depending upon a lot of factors.

Expenses
During your early retirement years, it is likely you will spend as much or more than when you were working because you are more active and have the time and energy to enjoy more experiences with family and friends. For instance, for some it might be doing more traveling, picking up a hobby that you put aside while raising your family and working, caring for a loved one, or volunteering.

Healthcare Costs
In your advanced years, medical costs are highest and comprise a large amount of your living expenses. Oftentimes, these costs can quickly erode wealth transfer plans such as leaving a legacy to loved ones. You may find this article insightful about preparing for these costs in retirement.

Values & Goals
An important way in which we support our clients is through exploring their values and whether they are living congruently with their goals. Having the goal of retiring is high on many people’s list but getting clear on what you will do with the extra time and what those costs will be is vital to plan well before the retirement day arrives.

Health & Longevity
And all of this will be for naught if you are not being responsible for your health. This includes your body and your mind. If you work tirelessly to accumulate but along the way are neglectful of your health, you will not be able to enjoy the fruits of your labor if you fostered a debilitating disease or resulting in a reduced life expectancy. Here is one of my previous articles about how investing in your health can help you fully enjoy retirement that you might find helpful.

07/08/2024

Honored to be quoted in Next Avenue about the best financial gifts for grandkids.

Next Avenue is a nonprofit, digital journalism publication that is the first and only national publication for older adults, dedicated to covering the issues that matter most as we age.

Give money with a purpose, whether that is to pay college tuition, put a down payment on a house or learn to build wealth for their later years

05/21/2024

Should I do a Roth conversion?

Transferring funds from qualified retirement accounts like a 401(k) or IRA to a Roth IRA can be a tax-efficient strategy in certain circumstances. However, it's important to proceed with caution to avoid penalties, as Roth conversions can be complex.

Converting funds from qualified retirement accounts (401(k), IRAs) to a Roth IRA can be a potential tax-efficient strategy for certain situations. When doing...

05/14/2024

Am I financially OK?

This is undoubtedly the most frequently asked question that I receive. As you might expect, there is not a one-size-fits-all answer. However, there are a handful of things that may help guide you from a place of uncertainty or anxiousness toward one of clarity.

As you might expect, there is not a one-size-fits-all answer. However, there are a handful of things that may help guide you from a place of uncertainty or a...