BML Wealth Marketing, Author at BML Wealth Management

11 12, 2023

The Generic 60/40 Portfolio May Need an Examination
The Generic 60/40 Portfolio May Need an Examination

The Generic 60/40 Portfolio May Need an Examination

BML Wealth Marketing2023-12-11T13:21:29-08:00December 11, 2023|Investing|

As the holidays approach, you may be rounding up your finances for the end of the year. If so, one thing you may want to keep an eye on is the design of your financial portfolio. Your portfolio may not be set up with the best possible spread of investments and assets. If you’re using a generic 60/40 portfolio (60% stocks, 40% bonds), you may have noticed that the returns from this design have been lower than they were in the past. Over the past 10 years, a 60/40 portfolio was the go-to for many [...]

4 12, 2023

Help Boost Your Income with These 3 Strategies
Help Boost Your Income with These 3 Strategies

Help Boost Your Income with These 3 Strategies

BML Wealth Marketing2023-12-06T07:01:50-08:00December 4, 2023|Retirement Income, Retirement Planning|

Do you feel like you have enough saved for retirement? Do you have anything saved for retirement? If your answer to either of these questions is no, then our advisors may have some strategies to help you turn your retirement income strategy around. Here are some things that our advisors recommend when it comes to boosting your retirement savings: Assess Your Financial Situation Honestly This isn’t as easy as it sounds. When you were a kid and you were deciding how to spend the money you had, it was probably pretty easy to budget things [...]

27 11, 2023

What to Expect When Working with a Financial Advisor
What to Expect When Working with a Financial Advisor

What to Expect When Working with a Financial Advisor

BML Wealth Marketing2023-11-27T07:16:37-08:00November 27, 2023|Financial Planning|

Working with a financial advisor is a big deal. In the same way a good doctor may know key aspects of your personal health, a good financial advisor will know the crucial aspects of your financial situation–all to help you improve your financial health and retirement longevity. That’s why it’s important to know what to expect when working with a financial advisor and understand where and how your advisor can improve your finances. Understanding Your Financial Picture The first step when you meet with most financial advisors is for them to get an accurate picture [...]

21 11, 2023

Understanding the Four Phases of Your Retirement Budget Strategy
Understanding the Four Phases of Your Retirement Budget Strategy

Understanding the Four Phases of Your Retirement Budget Strategy

BML Wealth Marketing2023-11-21T11:35:33-08:00November 21, 2023|Retirement Income, Retirement Planning|

One way of thinking about retirement is that it happens in phases. The length of each phase and the strategies for each are going to differ from person to person, but this can be a helpful way to break down a very complex topic. We’re going to break down each one of the phases and explain some important financial moments in each. Phase 1: Pre-retirement (Approximately Ages 50-62) This is around the age when you will start to have a sense of what you have saved and what your expenses might look like. When you [...]

13 11, 2023

Take Advantage of These Tax Strategies Before the Year Ends
Take Advantage of These Tax Strategies Before the Year Ends

Take Advantage of These Tax Strategies Before the Year Ends

BML Wealth Marketing2023-11-13T11:26:42-08:00November 13, 2023|Tax Planning, Tax Strategies|

We’re coming up on the end of the year, and while it’s a time to take a break and enjoy the holiday season, it’s also a good time to consider tax strategies that may benefit you. Because taxes are calculated from January 1st to December 31st of each year, and certain retirement rules and laws reset at the same time, you may have some significant last-minute moves you can make with your money before the tax year is over. Gift Tax Exemptions Each year, you can give up to $17,000 to any number of people [...]

6 11, 2023

4 Birthdays Crucial to Your Pre-Retirement Plan
4 Birthdays Crucial to Your Pre-Retirement Plan

4 Birthdays Crucial to Your Pre-Retirement Plan

BML Wealth Marketing2023-11-06T15:39:21-08:00November 6, 2023|Retirement Planning|

There are many important birthdays when it comes to retirement planning. So, as you approach your retirement, it’s crucial to have a few of these in mind as key milestones. Here are 4 important birthdays to make note of as you set up your financial future: Catch-Up Contributions Begin at Age 50 When you reach age 50, you can contribute more to your retirement accounts than you were able to when you were younger.[1] In 2023, 401(k) contributors who are age 50 and up can contribute $30,000 to their account ($7,500 over the normal [...]

1 11, 2023

Social Security Strategies to Discuss with a Financial Professional
Social Security Strategies to Discuss with a Financial Professional

Social Security Strategies to Discuss with a Financial Professional

BML Wealth Marketing2023-11-01T13:00:58-07:00November 1, 2023|Social Security|

Everyone’s financial situation is different. Loan status, job situation, and the age of your kids all significantly impact your financial situation as you approach retirement. When it comes to Social Security there are a lot of different factors to consider, and the right path forward may not be apparent to you. Just because someone else made a similar financial move that worked doesn’t mean it will work for you. That’s why counseling with a financial professional can help you find clarity in your financial situation. Here are just a few things that you may want [...]

23 10, 2023

Remember the Benefits of Estate Planning
Remember the Benefits of Estate Planning

Remember the Benefits of Estate Planning

BML Wealth Marketing2023-10-23T12:32:44-07:00October 23, 2023|Estate Planning|

Estate planning can be difficult to think about, let alone plan for. Maybe you’ve avoided putting together a concrete plan because you don’t want to think too far into the future when it’s time to pass on what you have. Or maybe you don’t think an estate plan is necessary because you’re not rich enough to warrant one. The truth is that you will probably leave behind things for your family that are important financially and emotionally. You don’t have to be a billionaire to have an estate plan set up–all the assets and things [...]

18 10, 2023

Don’t Forget that Medicare Open Enrollment is Here!
Don’t Forget that Medicare Open Enrollment is Here!

Don’t Forget that Medicare Open Enrollment is Here!

BML Wealth Marketing2023-10-18T15:58:21-07:00October 18, 2023|Healthcare, Medicare|

From October 15 to December 7, Medicare has an open enrollment period.[1] This is the time when you can change your health plan and prescription drug coverage to adapt to your needs.[1] Every year, there are changes to Medicare health plans and networks, so make sure that you know if your coverage is changing.[1] If your coverage stays the same and you feel like it’s working for you, then you don’t have to do anything during the open enrollment period![1] There are various ways for you to explore your options when it comes to Medicare. [...]

9 10, 2023

Reexamining the Retirement Investment Portfolio
Reexamining the Retirement Investment Portfolio

Reexamining the Retirement Investment Portfolio

BML Wealth Marketing2023-10-09T10:52:29-07:00October 9, 2023|Investing, Retirement Planning|

When talking about retirement financial planning, we often take investment strategy at face value. But what does an investment strategy really consist of? An investment strategy is utilized to help your wealth not only retain its value against inflation but hopefully grow as well. When it comes to retirement, there’s another aspect of income generation that is introduced. But no matter if you’re considering wealth growth or income generation, your investment decisions will involve calculations around your risk tolerance and unique goals as well. Let’s cover these concepts briefly to better understand what an investment [...]

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