BML Wealth Marketing, Author at BML Wealth Management

6 03, 2023

Will Your Retirement Savings Be Enough?
Will Your Retirement Savings Be Enough?

Will Your Retirement Savings Be Enough?

BML Wealth Marketing2023-06-08T21:27:46-07:00March 6, 2023|Retirement Income, Retirement Planning|

Are you unsure of how much money you will need in retirement? This is a very common concern for Americans as they approach retirement age. This blog will give you some tips on how to begin estimating your needs in the future, as well as some tips on how to increase the longevity of your savings. How Much Should I Spend? One of the easiest ways to judge how much money you will need in retirement is to take stock of how much money you need right now.[1] Track your expenses and see how much [...]

26 02, 2023

Quick Tips for Filing Your Taxes This Season
Quick Tips for Filing Your Taxes This Season

Quick Tips for Filing Your Taxes This Season

BML Wealth Marketing2023-06-08T21:28:45-07:00February 26, 2023|Tax Planning, Taxes|

Tax season is fast approaching, so you may find yourself with some important tax questions. This article will cover some of the pitfalls of this process to make sure that you get the most out of your taxes this year. Don’t file too early! You may be eager to file your taxes to get your return as soon as possible, but filing before you have all your documents can actually cause delays in getting your return. It’s best to be patient and ensure that you have all the documents that you need for submitting your [...]

22 02, 2023

Don’t Underestimate the Importance of Your Mindset Toward Your Finances
Don’t Underestimate the Importance of Your Mindset Toward Your Finances

Don’t Underestimate the Importance of Your Mindset Toward Your Finances

BML Wealth Marketing2023-06-08T21:29:40-07:00February 22, 2023|Financial Planning, Psychology|

The concept of retirement planning is simple. Despite changes in the economy or in life itself, the concept of planning your retirement has remained unchanged. We work, save, retire, and repeat for generations over. But while the concept may be the same, the puzzle has begun to evolve. In other words, individuals and families currently saving for retirement are facing challenges that were previously never considered. Without pensions and hefty Social Security checks, it is now equally as important to maintain a healthy attitude towards spending and generating income as it is to actually save [...]

13 02, 2023

Protecting and Passing Down Your Financial Legacy
Protecting and Passing Down Your Financial Legacy

Protecting and Passing Down Your Financial Legacy

BML Wealth Marketing2023-06-08T21:30:46-07:00February 13, 2023|Estate Planning|

When it comes to passing on your wealth to your family, it is important to know the best ways to manage the process. An estimated 90% of wealthy families lose their wealth by the third generation, so if you are planning on leaving behind assets to your family, knowing the unique risks to the affluent investor and considering strategies to maintain your wealth within your family can be very beneficial.[1] However, wealth transfer is not just for the wealthy; it’s for everyone with something to leave behind for the next generation. Communicate Effectively One of [...]

6 02, 2023

4 Tips for Proper Tax Filing
4 Tips for Proper Tax Filing

4 Tips for Proper Tax Filing

BML Wealth Marketing2023-06-08T22:01:28-07:00February 6, 2023|Tax Planning, Tax Strategies, Taxes|

With the new year in full swing, tax season is just around the corner. Filing federal income taxes can be a long and complicated process, and mistakes are bound to happen here and there. As many of us know, these small mistakes can cost you big in tax returns and penalties. That's why it never hurts to brush up on the basics involved with filing your taxes. Knowing the most common tax-filing mistakes is critical to preventing any slips and the serious headache that could result in IRS scrutiny. Keep reading to learn how you [...]

1 02, 2023

Don’t Forget the Tried-and-True Value of Compounding Interest
Don’t Forget the Tried-and-True Value of Compounding Interest

Don’t Forget the Tried-and-True Value of Compounding Interest

BML Wealth Marketing2023-02-01T08:30:47-08:00February 1, 2023|Financial Planning, Investing|

If you forgot what compounding interest was, let’s refresh. Compounding interest is the process by which the interest earned on an investment is reinvested so that the initial investment grows over time. It may not seem like it, but compounding returns is a powerful tool that can significantly increase the value of an investment over the long term, making it an important concept to understand when planning for retirement. One of the key benefits of compounding interest is that it can help your investments grow significantly over time. For example, consider an initial investment of [...]

23 01, 2023

Let’s Talk Social Security
Let’s Talk Social Security

Let’s Talk Social Security

BML Wealth Marketing2023-02-09T01:33:49-08:00January 23, 2023|Social Security|

For most, Social Security provides a solid foundation for retirement income. In fact, as of September 2022, over 70 million Americans were collecting benefits.[1] However, not everyone knows exactly how or when to start tapping into this resource. As you grow older and retirement looms on the horizon, the decisions you make start to have a more crucial impact on the amount of money you receive, so it's important that you know what to expect. Let's discuss how you can maximize your benefits and give yourself the best possible chance to live out the retirement [...]

16 01, 2023

Be the Financial Compass for Future Generations
Be the Financial Compass for Future Generations

Be the Financial Compass for Future Generations

BML Wealth Marketing2023-01-13T11:26:38-08:00January 16, 2023|Financial Planning|

Building towards retirement, you have made many financial decisions. Perhaps you maxed out your credit card on clothes in your early 20s or chose the wrong payment plan for your car loan or home mortgage. Regardless, you’ve navigated many financial obstacles and gained wisdom that can now be passed on to your kids and grandchildren. Although money can be a difficult topic to discuss, sharing this wisdom can help future generations make better-informed financial decisions. These are some topics to raise with different ages. Advice for Ages 5-13 At this age, most children have not [...]

13 01, 2023

3 Pet-Friendly Houseplants to Grow
3 Pet-Friendly Houseplants to Grow

3 Pet-Friendly Houseplants to Grow

BML Wealth Marketing2023-02-09T01:35:14-08:00January 13, 2023|Lifestyle|

Life in retirement can feel a little slow and quiet, especially when you spend lots of time at home, have become an empty nester, or haven’t picked up any new hobbies. Plant parenting is a great way to fill up your time. It invests you in nurturing life, prompts you to learn new things, and engages you in routine. If you are new to it, you may be unsure of what plants to get, which ones are safe and how to properly take care of them. Here are 3 pet-safe, low light houseplants plants to [...]

9 01, 2023

2 Ways the 2022 Economic Woes Affected Your Retirement Accounts
2 Ways the 2022 Economic Woes Affected Your Retirement Accounts

2 Ways the 2022 Economic Woes Affected Your Retirement Accounts

BML Wealth Marketing2023-02-09T01:38:11-08:00January 9, 2023|Economy, Retirement Planning|

The 2022 economic climate has been bumpy for most and, in some cases, even bumpier for retirees. Americans and the world at large dealt with the economic ramifications of the Russia-Ukraine war, post-pandemic industrial effects, and rising inflation and interest rates. As the year ends, it's important to understand how these economic factors may have affected your finances as a retiree. Inflation Pinched Pockets Between 1991 and 2021, annual inflation averaged 2.5%, close to the Federal Reserve’s desired 2% target, which many believe to indicate a healthy economy.[1] However, in 2022, this number spiked to [...]

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