Market Memo
June 9, 2023
Stocks Diverge, Yields Rise, & Artificial Intelligence Theme Gains Traction
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Smart Strategies to help you keep more of what is yours
At Perissos Private Wealth Management, we understand that maximizing your Social Security benefits is a crucial part of your retirement planning journey. Our process is designed to help you receive the highest possible income from Social Security while simultaneously enhancing your total wealth and retirement security. By taking a holistic approach to your financial planning, we strive to tailor your Social Security strategy to your unique needs and goals.
Deciding when to take Social Security benefits—whether between ages 62 and 70, spousal benefits, or opting for personal or spousal benefits first—requires careful consideration. In addition, you may be questioning how to supplement your income from IRAs or non-IRAs during this period and how these choices might impact the taxation of your benefits and other income streams.
These decisions are vital and can significantly influence your financial future. It is essential to consider a wide range of factors, including your investment plan, income strategy, longevity, and more. A narrow focus on any single aspect could lead to suboptimal outcomes, making it crucial to view these decisions as interconnected pieces of a broader puzzle.
Our strategy, part of your Customized Retirement Plan, integrates all these factors into a cohesive and strategic design. By partnering with Perissos Private Wealth Management, you can gain peace of mind knowing that we approach your Social Security planning with meticulous attention to detail.
Our team of professionals brings years of experience and expertise in Social Security planning, seamlessly integrating different strategies into your overall financial plan to optimize your retirement income streams, enhance your financial security, and maximize your overall wealth.
Stocks Diverge, Yields Rise, & Artificial Intelligence Theme Gains Traction
Naming a Charitable Remainder Unitrust (CRUT) or Charitable Remainder Annuity Trust (CRAT) as your IRA beneficiary offers significant tax benefits, supporting charities while providing income to beneficiaries. However, it involves asset loss control and complex setup, possibly conflicting with traditional inheritance goals. Consultation with professionals is advised for alignment with financial strategies.
Qualified Charitable Distributions (QCDs) from IRAs allow individuals 70.5 years or older to donate up to $100,000 tax-free directly to charities, providing financial and philanthropic benefits. This strategy satisfies Required Minimum Distributions, reduces taxable income, and potentially avoids Medicare surcharges, helping retirees optimize their financial planning and philanthropic impact. Tax laws are complex; consulting professionals is advised.
A 1031 Exchange into a Private Real Estate Fund allows investors to defer capital gains taxes from the sale of rental properties by reinvesting in like-kind properties or funds. This strategy, under Section 1031 of the U.S. Internal Revenue Code, aids in tax savings, offers portfolio diversification, and enhances potential income. By putting proceeds into professionally managed funds, investors can mitigate risks and improve returns without the immediate tax liability, making it an effective tool for wealth preservation in real estate investment.
5 Mistakes to Avoid When Filing for Medicare Medicare, a federal health insurance program, is a crucial resource for individuals aged 65 and older, as
Avoid costly errors when filing for Social Security with this guide. Learn the top five mistakes people make, from filing too early or late, to misunderstanding spousal benefits. Gain the knowledge to navigate the complex system and maximize your benefits. Don’t leave your financial future to chance, avoid these common pitfalls.
Avoid common pitfalls in a Backdoor Roth Conversion to ensure success. These include not understanding the pro-rata rule, failing to wait for the five-year period, neglecting tax implications, overlooking income limits, and not keeping track of contributions. Avoid these mistakes to maximize your retirement savings and minimize tax liabilities.
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Investment advisory services are offered through Perissos Private Wealth Management, an Oklahoma-registered investment advisor. This site is published for residents of the United States only. Investment advisor representatives of Perissos Private Wealth Management may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all the services referenced on this site are available in every state and through every advisor listed.