BML Wealth Marketing, Author at BML Wealth Management

2 09, 2022

A Movie Marathon for a Fun Night In!
A Movie Marathon for a Fun Night In!

A Movie Marathon for a Fun Night In!

BML Wealth Marketing2022-09-02T11:15:12-07:00September 2, 2022|Lifestyle|

Retirement is a time to do more of what you love, whether that’s through an active hobby like hiking or through sports like tennis and golf, or if it’s a relaxing activity like reading, writing, or embracing your creative side with the arts and music. But in retirement, it’s important to take advantage of the time you have to rest as well. Watching movies and shows is a great way to enjoy a night in. Consider these films for your next movie marathon! New Movies That Resonate Ford vs. Ferrari– A great watch for car [...]

31 08, 2022

3 Strikes to Avoid When Tax Planning
3 Strikes to Avoid When Tax Planning

3 Strikes to Avoid When Tax Planning

BML Wealth Marketing2022-08-31T11:02:56-07:00August 31, 2022|Tax Planning, Taxes|

Taxes are among the most common concern for people in retirement. You might be wondering how to start thinking about your tax strategy so you aren’t taxed more than you need to be. These three mistakes can help start the conversation about what a comprehensive tax strategy might look like for you. Taking Too Much Income When you start to approach retirement, you’ll have to start thinking about transitioning from the wealth accumulation stage to the income stage of your life. The whole point of saving for retirement is so you can live comfortably off [...]

19 08, 2022

Earth Shoes and Other Products of the 70s
Earth Shoes and Other Products of the 70s

Earth Shoes and Other Products of the 70s

BML Wealth Marketing2022-08-19T10:22:59-07:00August 19, 2022|Lifestyle|

If you think some of the products your kids or grandkids have are strange, consider what was around in the 70s – pet rocks and beer shampoo. The 70s certainly saw some interesting trends. You may even have a few of these artifacts somewhere in your home, perhaps tucked away in the attic or basement. Do you remember earth shoes and these other products of the 70s? Earth Shoes Earth shoes were invented by a Danish yoga instructor and shoe designer who proclaimed the “negative heel technology” design. The sole was thinner at the heel, [...]

17 08, 2022

4 Easy-to-Overlook Estate Planning Mistakes
4 Easy-to-Overlook Estate Planning Mistakes

4 Easy-to-Overlook Estate Planning Mistakes

BML Wealth Marketing2023-02-09T02:58:41-08:00August 17, 2022|Estate Planning|

It’s easy to avoid making an estate plan, but not having one won’t be easy on your loved ones. Having your affairs in order can greatly help your family, so consider creating a comprehensive estate plan. Unfortunately, there are many easy-to-overlook estate planning mistakes, such as not naming beneficiaries on retirement accounts, not doing so properly, or forgetting to update your estate plan. Not Naming Beneficiaries Many people don’t realize that they need to name a beneficiary for retirement accounts and life insurance policies. They may never get around to filling out the forms or [...]

12 08, 2022

What Is a QCD and How Does It Work?
What Is a QCD and How Does It Work?

What Is a QCD and How Does It Work?

BML Wealth Marketing2023-02-09T03:00:02-08:00August 12, 2022|Financial Planning, Tax Strategies|

You might expect your tax burden to decrease in retirement – after all, you’re no longer receiving a paycheck that incurs income tax, payroll tax, and Medicare tax. However, your income in retirement could be significant between investment income, rental properties, pensions, Social Security, and retirement account withdrawals. Then starting at age 72, you will likely need to take Required Minimum Distributions (RMDs) from your traditional retirement accounts, which could potentially increase your taxable income. So, how can you work to minimize those taxes? One potential strategy is to do a Qualified Charitable Distribution. What [...]

8 08, 2022

Inflation and a Gallon of Milk
Inflation and a Gallon of Milk

Inflation and a Gallon of Milk

BML Wealth Marketing2022-08-08T00:19:34-07:00August 8, 2022|Economy, Financial Planning|

In 1960, a gallon of conventional whole milk was 31 cents, and today it’s $4.21 on average.[1] A few dollars might not seem like much, but that’s a 1,258% increase! Now that we’re seeing high inflation, the buying power of your money – including your retirement savings – could be seriously impacted. When calculating how much money you need to retire, consider what you’re left with after inflation. The Value of Money Over Time When you think about the fact that almost everything you buy is increasing in price, inflation is a major concern. The [...]

5 08, 2022

The Role of Melody and Memory in Retirement
The Role of Melody and Memory in Retirement

The Role of Melody and Memory in Retirement

BML Wealth Marketing2022-08-01T19:54:24-07:00August 5, 2022|Lifestyle|

When you’re at the peak of your career and starting to think about retirement, many things might be circling your thoughts. “How can I afford my retirement?” Or “What will I do with all this time?” It’s important to remember that retirement is an opportunity to do what you love, not what you have to. When you retire, you’ll have the time to contemplate and reflect on your life, passions, and memories. It can be both an active and introspective period in your life. When you’re revisiting old memories, it’s hard not to remember the [...]

1 08, 2022

Are You Asking the Right Questions Before You Retire?
Are You Asking the Right Questions Before You Retire?

Are You Asking the Right Questions Before You Retire?

BML Wealth Marketing2022-08-01T07:36:42-07:00August 1, 2022|Retirement Planning|

You might remember a time when markets kept increasing and your retirement portfolio was smooth sailing. But that was before the recent inflation numbers and market correction. You may have built a substantial nest egg, but even then, you may be concerned about how you will maintain your lifestyle in retirement and how you will avoid running out of money in this new economic environment. Here are a few questions to ask yourself as you plan for your retirement in a new financial environment. What Will My Tax Rates Be in the Future? Taxes can [...]

29 07, 2022

What Gets You Outside This Summer?
What Gets You Outside This Summer?

What Gets You Outside This Summer?

BML Wealth Marketing2022-07-28T12:53:36-07:00July 29, 2022|Health and Wellness, Lifestyle|

During your working years, you may have relished the few hours you had in the summers after work to be outside, get fresh air, and enjoy the summer weather. Unless it was a weekend or a vacation, you might not have had the time to do the hobbies you enjoyed and take advantage of all that a nice summer’s day has to offer. But now that you’re in retirement, you don’t have to wait for your ration of time to enjoy life each week. You have the freedom to do the activities you once gazed [...]

27 07, 2022

Inflation Finds its Way to Your Wallet
Inflation Finds its Way to Your Wallet

Inflation Finds its Way to Your Wallet

BML Wealth Marketing2022-07-27T09:33:36-07:00July 27, 2022|Economy, Financial Planning|

There’s no doubt that people have been feeling the effects of inflation on their wallets. Everything from food to gas to home repair products seems to be increasing every day. Federal Reserve Chairman, Jerome Powell, is taking inflation very seriously, raising interest rates to combat the explosion of inflation. And although the moves have made an impact, the Federal Reserve noted that inflation is stickier than it had predicted.[1] This is all to say that inflation may be here to stay. You might be thinking, “What can I do to mitigate the effects of inflation [...]

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