Mortgage Planning Podcast, Episode #16 Tax-Efficient Retirement Planning
"Specifically, we really work with our clients to understand, "What do you need when?" And we don't ever want to have a conversation - you heard a lot in 2008 about having to delay retirement by 5 years; well they weren't working with somebody who was keeping their eye on the ball; because ideally you've got, in relatively safe instruments what you need over the next 2 years and the next 5, [financial] instruments you can really count on."
- Doug Tees, MBA, CFP®, CAP®, CBDA, Jason Howell Company
Jason Howell Company co-owner and Chief Operating Officer has long had a gift for getting into the details then summarizing and simplifying complex concepts. In this latest interview with Adam Coleman, CDLP of the Mortgage Planning Podcast, Doug shows why he is a client favorite. He just knows stuff!
Tune in to learn how to:
- How to attack a financial transformation
- Navigate Health Savings Accounts (HSA)
- What to consider a few years out from retirement
- Why Doug chose financial planning
- So much more...
Jason Howell Company is an independent, family wealth management firm that offers accredited investors the confidence to overcome financial imposter syndrome.
Jason J. Howell, CFP®, CPWA®, CSRIC® and Douglas W. Tees, MBA, CFP® CAP®, CBDA have spent a lot of time in the Washington, DC area, and are aware that many people who are first generation wealth suffer from a kind of "financial imposter syndrome." Successful entrepreneurs are always looking over their shoulder; government contractors worry about the next contract; former Capitol Hill staffers privately wonder if they should "feel bad" for the money they now make. Imposter syndrome is common among people who work for the many corporate headquarters based in this area as well. These feelings get in the way of properly managing wealth. We empower them to get organized, build a team of advisors and make decisions.
Our typical "first generation wealth" families include dual income parents who work, save and have just the right amount of fun. They trend a little older - Baby Boomers (born 1946 - 1964) and Gen-Xers (born 1965 - 1980) - but we're starting to see more Millennials (born 1981 to 1996) who don't want to wait until it's too late. They earn impressive incomes and have accumulated a good bit of savings. As bona fide experts themselves, they expect fiduciary expertise from people they hire. They are just not sure about the "big box" brokerage firms that advertise one thing and seem to do another.
First generation wealth accumulators realize that they:
- Need to “do something” with the cash in their checking/savings
- Need an investment strategy for “up” and “down” markets
- Need a plan to mitigate market, credit, inflation, and political risks
- Need to start tax planning instead of just tax paying
- Need to be sure they are choosing the right work benefits
- Need to reduce financial miscommunications between partners
- Need to separate business finances from personal finances
- Need to plan for money while alive and for what happens after death