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Jeffrey Stevens, Founder of Preferred Retirement Strategies, Announces Publication on Mitigating Taxes

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Jeffrey Stevens, Founder of Preferred Retirement Strategies, Announces Publication on Mitigating Taxes

Published on December 27, 2022

Jeffrey Stevens announces a new publication his firm has come out with to educate pre-retirees lower taxes and prepare for retirement.

Taxes are a significant factor to consider when creating a retirement plan. Paying taxes on income can significantly reduce the amount of money available for retirement savings. It is essential to understand how taxes can impact people’s plans and make adjustments accordingly. 

Stevens said: “By being aware of the tax implications, people can make more informed financial decisions that will help them reach their retirement goals more quickly. Knowing the types of income affected by taxes and how those taxes are calculated is an essential part of having a successful retirement strategy.”

It is essential to understand how taxes are calculated and which types of income may be eligible for tax exemptions or deductions. For example, capital gains from investments such as stocks or mutual funds may be subject to different tax rates than ordinary income from salaries or wages. Furthermore, certain types of investment income may not be taxable at all.

In addition to understanding the types of income affected by taxes, it is crucial to know how those taxes are calculated. Tax rates vary based on a person’s filing status, adjusted gross income, and other factors. Knowing a person’s tax rate can help them make more informed decisions about where to invest and how much money they should save for retirement.

Taxes can significantly impact someone’s retirement plans; however, if people plan ahead and take advantage of the various tax benefits available, they can minimize the impact that taxes have on their finances in retirement. Understanding the applicable tax laws and taking advantage of available deductions can help them maximize the money available for retirement savings.

Overall, taxes should be taken into consideration when planning for retirement. Knowing how income is taxed and the various tax benefits available can help people make more informed decisions about their finances in retirement. These decisions can significantly impact their ability to save for and enjoy a comfortable retirement.

 

About Jeffrey Stevens

Jeff Stevens provides clients with custom-tailored investment strategies to meet short and long-term goals. As a fiduciary, Jeff is obligated to put his clients’ interests first. His objective is to help individuals, families and businesses develop innovative financial strategies that result in financial clarity, security, and overall financial health.

Jeff specializes in wealth creation, wealth conservation, personal financial planning, business planning and estate planning. He works with clients to secure their retirement by maximizing their retirement income to keep pace with inflation and reduce market risk.

Jeff is a member of the National Association of Insurance and Financial Advisors and is a life and qualifying member of the Million Dollar Round Table.

Jeff grew up in Brooklyn and Long Island. He enlisted at seventeen and served honorably in the United States Marine Corps. Upon discharge from the service, Jeff worked as an electrical engineer and enrolled in Nassau Community College. After earning an Associate’s Degree, Jeff entered the insurance and financial services industry and continued his education at Rutgers University where he received a BS in Management.

Jeff resides in Freehold, New Jersey with his wife, Marge. They have two adult children and three grandchildren. Jeff is an avid sportsman and enjoys freshwater and saltwater fishing and vacationing with his family.

Ensure a successful and dignified, retirement without financial worries.

Learn More: http://www.preferredretirementstrategies.com

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The Heartbeat of Success in 2024: World-Class Business Change-Makers Reveal the Power of Love in Business

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 In the dynamic landscape of 2024, infusing love into business can serve as a transformative force. This approach fosters authentic connections, enhances team collaboration, and leads to a positive organizational culture. Prioritizing love as a guiding principle creates environments where people feel valued and supported, fueling increased motivation, creativity, and productivity, while genuine care and empathy are pivotal for cultivating strong client relationships, instilling loyalty, and paving the way for sustainable success. Dive into the wisdom of these world-renowned business change makers who share invaluable tips and stories on the profound impact of love…in business.

Annie Koshy, Founder/Creative Director of GTA South Asian Media Network Inc., views love as a necessity and the heartbeat of meaningful connections in business. She emphasizes love as the catalyst for authentic collaboration, breaking down barriers and fostering an environment where diverse talents and ideas converge harmoniously.

Marcia Martin, CEO of Marcia Martin Productions, LLC, believes that when team members and clients feel cared for, acknowledged, and supported, it creates a positive, profitable business environment. Her tips for success in 2024 include practicing kindness, slowing down to enjoy the journey, appreciating people, and actively listening.

Global Director at the Neuro Change Institute, Dr. Rhonda Kerlew, Hons., RN, B.Sc.N, EMBA, advises embracing love as a powerful business growth development strategy. Cultivating Emotional Intelligence enables people to enhance connections, exhibit compassionate leadership, and refine decision-making skills through a love-based approach.

LaWanna Bradford, MPA, COO of The Bradford Group, LLC, highlights the integration of love as a vital tool in business while adopting values such as diversity, equity, inclusion, and belonging to form a foundation for a robust organizational core. Celebrating individual uniqueness and a nurturing environment drives innovation and ensures lasting success.

Veney Cochran, CEO and Co-Founder of SWAG Leadership stresses the vital nature of love as a true asset in the business world. Veney advises those desiring success to overcome ‘limiting beliefs’ through visualization of the person they aspire to be. By defining their version of success, and understanding the “Why,” the “How” will naturally fall into place.

Colleen Arruda, Founder and President of YOU MATTER MEDIA INC., underscores positive connections with stakeholders for long-term success, creating a vision, mission, and reputation grounded in love. She suggests actively addressing individuals’ needs, fostering self-love, and cultivating a positive mindset to navigate challenges and ensure success.

Dr. Mandana Attarzadeh, Founder and President of The Flourishing Women Global, sees business as a way to serve others through unique talents and gifts, ultimately leading to prosperity. Mandana emphasizes that approaching every aspect of business from a place of love, including providing honest feedback, can bring about positive transformations.

‘Purpose Coach’ Gwen Lepard connects empathic entrepreneurs with their purpose and advocates self-love to provide renewable energy that empowers individuals to transform roadblocks into opportunities aligning with their purpose, ensuring clarity and a clear direction for successful business decisions.

Christine Marsh, Catalyst for Change and Founder of Prime Objectives, champions environments where people can flourish by maintaining life balance, flexibility, and clear boundaries and eliminating practices that no longer have value.

Dr. Annette Greenwood, an Award-Winning Life Coach, highlights love in business as a high-energy vibrational quality that positively influences business dealings and collaborations. Annette suggests incorporating love into all aspects of work, treating it as an investment in service and viewing it as love-based marketing.

COO of Wealth Code Consultants Susan Pilkenton overcame significant setbacks while creating a multi-million-dollar empire by nurturing love, joy, and gratitude within her heart and business. Susan focuses on building a community of like-minded advisory leaders, underscoring the value of diverse perspectives to achieve long-term prosperity.

Alex Vitillo, a Leading Shamanic Priestess of Wealth & Wellbeing, believes that love makes the world go round. Her perspective on integrating love into business is that blended with a positive, laser-focused mindset, it is a vital quality that fuels a passion for the company.

Utilizing love as a guiding ethos has been a game-changer for these visionary trailblazers, as their stories of triumph and success attest to the irreplaceable value of love in the business world.

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ABOUT THE INDUSTRY LEADER

Mark Stephen Pooler is the Founder, Editor in Chief, Media & News Publisher of MSP News Global. Mark oversees the company’s media business and its intersection with global business leaders. Before forming MSP News Global in 2020, Mark spent his time as a Professional Speaker, International Bestselling Author, Radio Host, and PR & Media Specialist. Mark is also the Founder of TMSP Agency, a Premium Media and PR Agency. He helps high-profile entrepreneurs share their stories globally through PR and digital media. When not working with his valued clients, Mark enjoys spending time with Lilly, his four-legged bestie.

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Mistakes Business Owners Make On Their Finances After The Sale Of Their Business

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Mistakes Business Owners Make On Their Finances After The Sale Of Their Business

Published on February 26, 2024

Adam Coffey, an established expert on private equity in the United States, is interviewed on a podcast about considering private equity as a participant in the sale of a business. Adam discusses mistakes that are made and how to avoid them.

Financial professionals understand the importance of setting clients up for success in their finances. However, even the savviest business owners can make mistakes when it comes to managing their money after selling their business.

To ensure that clients avoid these common pitfalls, here are some key actions they should take after the sale of their business:

  1. Create a Financial Plan

After receiving a large sum of money from selling their business, owners may feel overwhelmed and unsure of what to do with it. This is where financial expertise comes in – encourage clients to create a financial plan that aligns with their goals and priorities. This will help them make smart decisions with their newfound wealth and avoid impulsive or unnecessary spending.

  1. Diversify Their Investments

Many business owners put all their eggs in one basket – their business. However, after selling it, they need to diversify their investments to reduce risk and ensure long-term financial stability. As their financial advisor, recommend a mix of stocks, bonds, real estate, and other assets that align with their risk tolerance and financial goals.

  1. Pay off Debts

One mistake some owners make after selling their business is not paying off debts, such as loans or credit card balances. This can be a costly error, as high-interest debt can quickly eat into their newfound wealth. Encourage clients to prioritize paying off any outstanding debts to set themselves up for a stronger financial future.

  1. Consider Tax Implications

The sale of a business can have significant tax implications, and it’s important that clients are aware of these when making financial decisions. For example, they may be subject to capital gains taxes or have opportunities for tax deductions. As their advisor, guide them through the tax implications and help them make informed decisions.

  1. Save for Retirement

After selling their business, some owners may feel confident about their financial future and neglect saving for retirement. However, they must continue to save for retirement to maintain their standard of living and ensure financial security in the long run. Encourage clients to consider tax-advantaged retirement accounts and other investment options.

By following these recommendations, clients can avoid common financial mistakes after selling their businesses and make the most of their newfound wealth. As financial professionals, it’s their job to guide them through this transition and help them achieve their financial goals. So be confident, authoritative, and persuasive in educating them on these important actions to take for a successful future.

Michael Ross said: This is important because there are hundreds of business exits in the United States every week, and too many business sellers ignore their finances trying to get the transaction done.”

About Michael Ross

Michael Ross, is 30+ year veteran as a financial advisor. After 30 years with Morgan Stanley, he is now an independent financial advisor who excels in helping business owners exit their businesses and move to the next phase of their lives.

Advisory services are offered through Integrated Advisors Network LLC, a registered investment advisor.

Learn more: www.mylatticewealth.com

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James Johnson, President and owner of All Mark Insurance Services, Interviewed on the Influential Entrepreneurs Podcast Discussing How Taxes Impact Retirement

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James Johnson, President and owner of All Mark Insurance Services, Interviewed on the Influential Entrepreneurs Podcast Discussing How Taxes Impact Retirement

Published on February 26, 2024

James Johnson discusses tax impact in retirement. 

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-james-johnson-president-owner-of-all-mark-insurance-services-how-taxes-impact-retirement/

Understanding the impact of taxes on retirement income is crucial for effective financial planning. In the podcast episode, James Johnson, the president and owner of All Mark Insurance Services, highlights the significance of being proactive and informed about taxes to mitigate potential financial challenges in retirement.

Johnson emphasizes the historical context of tax rates, pointing out that the highest income tax bracket has fluctuated over the years, with an average top marginal tax bracket of 56.76%. Given the current national debt and unfunded deficit, it is reasonable to anticipate future tax increases. Johnson prompts listeners to consider the likelihood of higher tax rates in the future and the implications for retirement planning.

One key takeaway from the episode is the importance of planning ahead to address potential tax implications on retirement income. Johnson suggests that individuals should not rely solely on generalized advice but should instead develop personalized strategies based on their financial situation. He stresses the need for proactive measures, such as maximizing tax brackets through Roth conversions and contributions to tax-free accounts.

The episode underscores the necessity of understanding the rules of the financial game to navigate retirement planning effectively. Johnson uses analogies like the bucket with holes to illustrate the concept of strategically plugging tax leaks in retirement income. By taking a structured and sequential approach to financial planning, individuals can better position themselves to mitigate tax challenges and secure their financial future.

Listeners are encouraged to seek professional guidance and engage in detailed discussions to tailor financial strategies to their specific circumstances. Johnson offers a strategy session at no cost or obligation, which can be scheduled through his website, emphasizing the importance of clarity and informed decision-making in financial planning.

Utilizing strategies like Roth conversions and exploring tax-free growth options can be highly beneficial in optimizing retirement savings. James Johnson emphasizes the importance of being proactive and informed when it comes to financial decisions, especially in the context of taxes impacting retirement.

James shared: “We help people like you create and grow wealth, Protect and Preserve their life savings, and plan for the distribution of that savings in the most tax-advantageous manner while living and in death.”

About James Johnson

James has been a business owner, a mentor, and an entrepreneur for over 28 years.

As an ex-Marine and black belt in Judo, James does nothing in life he isn’t passionate about. His continual interest in provoking thought and conversation led him to the financial industry. “Being able to help hundreds of individuals, families, and business owners achieve their goals in life not only financially, but spiritually,” James states, “is a very powerful thing.”

James has aligned himself with hundreds of his clients who are willing to learn and take control of their future. His core belief is only when we are learning, are we growing.

James is consistently top in his field; staying educated and staying on the cutting edge of laws, regulations, and industry news. He is a proud member of Million Dollar Round Table (MDRT), and was a Master Elite Advisor for Ed Slott (America’s IRA Expert) for 9 years.

With this vast knowledge of the financial industry, he was chosen as an expert on the “Ask the Expert” program series on AM radio in the Inland Empire.

Learn More: https://www.yoursafemoneypeople.com/

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