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Todd Smith, CFP® President & CEO of Level 5 Financial Interviewed on Podcast Discussing How Retirement Income and Tax Planning Are Different

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Todd Smith, CFP® President & CEO of Level 5 Financial Interviewed on Podcast Discussing How Retirement Income and Tax Planning Are Different

Published on August 30, 2022

Todd explained, “One of the biggest financial decisions you will make in your lifetime is how to plan for retirement. There are many factors to consider, including when to retire, how much money you will need to support yourself, and how to generate income during retirement. Another important factor is taxes.”

 Listen to the interview on the Business Innovators Radio Network:

https://businessinnovatorsradio.com/interview-with-todd-smith-cfp-president-ceo-of-level-5-financial-discussing-how-retirement-income-and-tax-planning-are-different/

Many people think that retirement planning and tax planning are the same, but some essential differences exist. Here’s a look at how retirement income and tax planning are different:

Retirement Income:

When someone is retired, their primary income source is likely from pensions, Social Security, and investment earnings. With proper planning, they can minimize the taxes they pay on this income.

For example, if they have a 401(k) or other employer-sponsored retirement plans, they may be able to choose how their money is invested. They can use this to their advantage by selecting taxable investments at a lower rate than other types of income.

Another way to reduce their retirement income taxes is to take advantage of tax-deferred accounts such as IRAs and annuities. With these account types, they don’t have to pay taxes on the money they contribute until they withdraw it during retirement.

Tax Planning:

Tax planning is all about minimizing the taxes owed. This can be done in several ways, including taking advantage of deductions and credits, investing in tax-advantaged accounts, and timing income and deductions to maximize tax benefits.

Tax planning is important both before and during retirement. By taking steps to minimize taxes now, one can have more money to save for retirement. And, by reducing the taxes they pay in retirement, they can stretch retirement savings further.

The bottom line is that retirement income and tax planning are two different things. However, they are both important factors to consider when planning for retirement. By taking the time to understand both, one can make the most of retirement savings and keep more hard-earned money.

About Todd Smith

After graduating from Hamilton College, Todd began his financial services career in the late 1990s working for Prudential Securities in NY. Since then, he has developed a diverse and valuable financial background as an investor and advisor, working for both small boutique financial planning firms as well as larger financial corporations.

Since 2012, Todd has focused on working with accountants and other tax professionals, helping them offer more proactive and holistic planning to their clients. He founded Level 5 Financial responding to his deeply held belief that wealth management can be far more comprehensive and in how it meets the needs of its clients. Becoming independent gave him the freedom to innovate in order to best meet the needs of his clients. As a business owner and entrepreneur, himself, Todd enjoys designing imaginative wealth creation & preservation strategies, advanced tax mitigation, and business optimization within a virtual family office ecosystem to maximize the potential of business owners and families.

Learn More: http://www.level5financial.com/

Other News Stories:

Level 5 Financial Serves CPAs

https://authoritypresswire.com/todd-smith-cfp-chfc-ctm-cltctm-president-ceo-of-level-5-financial-discussing-how-he-serves-cpas-interviewed-on-influential-entrepreneurs-podcast/

The Level 5 Financial Family Office Ecosystem

https://authoritypresswire.com/todd-smith-cfp-chfc-ctm-cltctm-president-ceo-of-level-5-financial-discussing-how-he-serves-cpas-with-a-family-office-ecosystem-on-business-podcast/

 
 
 
LEVEL 5 FINANCIAL, LLC FIRST (“L5F”) is a registered investment adviser offering advisory services in the State(s) of Colorado and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this information on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by L5F in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of L5F, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.

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Astra Lumos Is Coming To Grand Designs Live To Discuss Luxury Lighting Design And Installation Needs

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Astra Lumos Is Coming To Grand Designs Live To Discuss Luxury Lighting Design And Installation Needs

Published on September 28, 2022

Astra Lumos is coming to Grand Designs Live.

(Cotswolds) UK-based luxury lighting design and installations company Astra Lumos announces its presence in the award-winning home event, Grand Designs Live, at the end of this September. James Fielding, Director and the head of sales from the company, is going to be available in the event for every kind of discussion related to lighting design and lighting installation for all interior and exterior spaces.

Astra Lumos is a luxury lighting design and lighting installation company based in the UK which provides an integrated solution for all electrical necessities for its clients. They provide both lighting control systems and normally switched themes with custom wiring accessories, tailored to the client’s specific requirements, and have been in the business since 2014. They have worked on many projects of indoor and outdoor lighting such as garden lighting, landscape lighting, lighting for country estates and listed buildings, whilst specialising in luxury space designs. They majorly work with celebrities and other high net worth individuals in the UK as well as globally, looking for creative space decorations with electrical accessories, audio-visuals, and other innovative technologies. 

Grand Designs Live is a large event organised in London and Birmingham every year for consumers interested in home construction, remodelling, and enhancement in order to  supply all the knowledge and inspiration for finishing their visions for their homes. The event gives attendees access to a wide range of eco-friendly solutions, the latest technology, and innovative products, along with access to more than 500 businesses in the self-build, home remodelling, interior design, and gardening industries. There is an Ask an Expert arena in the event devised for customers to schedule one-on-one consultations with experts in architecture, construction, finance, interior and exterior design, and other fields. Guests are also provided with passes to events like the UK Construction Week and Green Living Live which are attended by major projects, home builders, architects, and local officials and people can interact and collaborate with them with their own ideas as well.

Individuals interested in the above-mentioned sectors and/or looking to create innovative designs for their homes are invited to book an appointment with James Fielding from Astra Lumos to meet and discuss all plans, ideas, and queries at the Grand Designs Live event.

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Personal Trainer Wins Award For Helping Public Speakers Share Their Message With The World

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Personal Trainer Wins Award For Helping Public Speakers Share Their Message With The World

Published on September 28, 2022

Personal trainer and business consultant Martin Sharp has won a prestigious award for helping others brush up their public speaking skills. 

The 46-year-old from York helps busy and overweight entrepreneurs, consultants and business owners improve their lifestyle so they feel happier and more confident. Alongside this, Martin is also an award-winning public speaker and trains others so they can improve their presentation skills and share their important messages with the world. 

His efforts have now been recognised by the Professional Speakers Academy (PSA), which gave him the Members Choice Award at its annual gala in London. The award is voted for by members and is given to the person they think has been the most supportive of others over the last 12 months. 

Martin said: “When my name was announced by the founder of PSA and world-renowned speaker trainer Andy Harrington, I was shocked. I didn’t expect to win. 

“I feel happy that I’ve helped so many amazing business owners and consultants improve their presentation skills along with their health and lifestyle. I’m incredibly honoured to have been voted for my members and I’m looking forward to continuing to help more amazing speakers get their positive and powerful messages of hope, help and higher achievement in the years ahead.” 

The Professional Speakers Academy (PSA) annual awards were held on Sunday, September 25 and aim to recognise the achievements of entrepreneurs and coaches who have embraced public speaking and used it to make sales and achieve business success. The ceremony, at Under The Bridge, a stylish venue at Chelsea Football Club, was attended by around 180 people and more than 50 awards were given out. 

It was the first time in three years that the awards ceremony had been held as an in-person event due to the Covid-19 pandemic. 

Martin began his career in IT and worked as an enterprise architect business consultant for more than 20 years helping major corporations with large scale changes. But his high-flying executive lifestyle saw him pile on the pounds and at 44, he decided to make a major life change and become a personal trainer and online health and fitness coach. 

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Performance Coach Wins Two Prestigious Awards For His Sales Success

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Performance Coach Wins Two Prestigious Awards For His Sales Success

Published on September 28, 2022

A peak performance coach and public speaker has won two awards for his sales success at a prestigious awards ceremony in London.

Moses Nalocca, who works with entrepreneurs, business leaders and sports stars to help them achieve their goals and become more successful, was given the accolades at the Professional Speakers Academy’s annual awards on Sunday, September 25. He received the sales person of the year award plus a special 7-figure award in recognition of his achievement of making over £1,000,000 in the training industry.

The 38-year-old said: “I’m so proud for this acknowledgment from the Professional Speakers Academy. It such an honour to be recognised by other experts.

“The 7 figure award is important, not for the money generated in the industry but for the level of impact my work may have done in people’s lives. At the end of the day, it is not about me, it’s about the people I serve.”

Moses, who originally comes from Italy and now lives in London, first came to the UK in 2016 with just 15 euros in his pocket, having to work in a minimum wage job to make ends meet. But used his excellent communication skills and positive mindset to forge a successful career for himself as a public speaker and coach.

One of his recent success stories was the Bulgarian athlete Ivet Goranova, who he coached to gold medal success in the Tokyo Olympics last summer. Moses worked with her on a daily basis in the run up to the tournament to get her thinking like a champion and she won Bulgaria’s first gold medal in 13 years.

The Professional Speakers Academy (PSA) annual awards aims to recognise the achievements of entrepreneurs and coaches who have embraced public speaking and used it to make sales and achieve business success. The ceremony, at Under The Bridge, a stylish venue at Chelsea Football Club, was attended by around 180 people and more than 50 awards were given out.

It was the first time in three years that the awards ceremony had been held as an in-person event due to the Covid-19 pandemic.

This post was originally published on this site

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