About Me

Ana Fajardo is a well respected financial specialist in Miami. She works with ValuTeachers as a Wealth Manager and Senior Retirement expert to assist ordinary heroes retire with financial security. She helps companies and people of all backgrounds plan for the future.

Ana is the founder and CEO of Wealth Companies. Wealth Companies provides financial planning and real estate services in the Miami metro region, including Ft. Lauderdale. Wealth Companies has a proven track record with personal clients and team development. Wealth Companies will celebrate its tenth anniversary in December 2022.

Ana graduated from Sam Houston State University. Her education and skills in Business Administration and Marketing have a significant influence on her customers' life. Ana sees her role as a servant to both her customers and those she leads as increasing in importance. Ana defines success as relieving customers of the worry of financial preparation for their golden years.

Ana's professional practice begins with learning. Ana and Rafael designed a financial literacy program for high school seniors, teachers, parents, and other community groups. Wealth Learning is a 501(c)(3) public charity. Its purpose is to teach financial literacy to high schools and community groups throughout America.

Ana has enlisted retired teachers, financial advisers, insurance agents, real estate agents, lawyers, and others to educate. Ana felt called to assist high school kids prepare for life in a financially complicated environment due to a lack of financial literacy in schools. Presentations have been made in Miami Dade, Broward, Palm Beach, and Houston Independent School Districts, as well as significant firms and organizations around the country. Wealth Learning gives back to the community by giving free talks. The courses cover a wide range of personal finance topics.

Although the premise of retirement planning has not changed significantly, other things have. For example, the average life expectancy has increased, and bond yields are lower than in past generations. In addition, more employers are now abandoning defined benefit pensions for defined contribution schemes. These new strategies are more volatile and susceptible to market fluctuations. Therefore, it is so essential to prepare for your retirement carefully. Investing in the stock market is an excellent method to boost your money while decreasing your risk.

Planning for retirement provides stability for those unable to work, in addition to optimizing savings. Without a retirement plan, you may find yourself unable to support yourself. You may also be required to leave your employment early, meaning you may need to accumulate a sufficient nest egg. Nevertheless, you can modify your strategy if your circumstances change. This type of plan is essential for sandwich generation members, a group of individuals who financially support themselves and their children.

Diversifying your income streams is another strategy for making retirement more manageable. Investing in various sorts of accounts allows you to reduce your tax burden. By diversifying your savings, for instance, you can lower taxes on retirement withdrawals. If you have one tax-deferred account, you may pay more tax on the same amount. Similarly, if you diversify your income, you can minimize the cost of living in several regions.

When you begin your work, you should construct a three- to six-month emergency fund. Additionally, you should develop an emergency debt repayment strategy. Social Security will continue to exist when you reach retirement age, but it will not be sufficient to cover your needs. For this reason, it is vital to plan for retirement to ensure financial security.

Although retirement is frequently decades away, individuals must plan today to minimize financial burdens in the future. Even modest monthly savings can help you accumulate a substantial nest egg before retirement. Many individuals choose to delay retirement planning until they are nearing retirement age, but starting now will help you to save enough for a comfortable retirement. Even $25 a month can be protected, which is a great way to get started.

Retirement planning enables you to make more informed decisions on your post-retirement lifestyle. This may involve making the best possible professional decisions or investments. Knowing what to anticipate during retirement might make it simpler to make prudent financial decisions and avoid stress. You may have a secure retirement and peace of mind with good planning.

A robust retirement plan allows you to retire with financial independence. The appropriate retirement plan will enable you to save a set percentage of your salary and provide you with a budget for emergencies and routine needs. Each individual's strategy will differ based on their spending and savings objectives and lifestyle choices. Therefore, you must consult a financial counselor to choose the most suitable plan. You can also utilize internet calculators to assist with retirement planning.

Planning for retirement might help you reach your goals. If you have worked for a considerable time, it may be time to pursue the activities you have put off during your career. With sufficient savings, you can retire early. This will enable you to pursue new interests and occupations. It will also give you greater flexibility and independence in your senior year.

Planning an early retirement is a terrific strategy to put money aside for the future. You may lower your costs and attain financial security by beginning to save early. You may design a retirement strategy that works for you with the assistance of financial experts. Even modest investments might have a significant impact on your retirement. So, it's time to start thinking about retirement! Retirement planning is essential, whether you are a few years away from retirement or many!

The ability to spend more time doing the activities you enjoy is another benefit of retirement preparation. You might not have enough time throughout your working years to accomplish things like travel or spend time with your family. However, once you retire, you'll be able to take advantage of all these things as you won't need a part-time job to make ends meet.

You have more time to observe the progress of your assets. Interest rates increase with the length of your investment. Therefore, $50 invested each month at the age of 25 will be worth three times as much as $50 supported at the age of 45. You won't catch up if you don't start investing early enough. Your journey toward a comfortable retirement will take considerably longer, and your partner may have different aspirations.

Another aspect to take into account while making retirement plans is inflation. The average cost of goods and services will keep rising. As a result, you will pay more in the future than you do now for practically everything. Early consideration of this aspect will facilitate the development of a stress-free lifestyle. Thus, it is best to start saving as soon as possible. Additionally, the earlier you start saving for retirement, the more money you should have saved!

You'll make wiser choices about your work and financial investments if you know your potential retirement demands. You may choose the route that will take you to a pleasant retirement with the aid of early retirement planning. In addition, by deciding how your retirement assets will be distributed if you pass away, you can also make savings for your heirs.

The ambition of touring the world, spending more time with family and friends, or completing life obligations like a child's higher education or marriage may come true for those close to retiring. Planning your retirement correctly will enable you to achieve these goals while preserving your financial freedom. There is no better time than the present to begin making retirement plans.

By investing in various financial products, retirement planning enables you to reach your retirement objectives. For instance, PPFs are tax-free, whereas 401(k) plans give tax advantages. Additionally, retirement planning might assist you in avoiding high insurance premium prices. With these tax breaks, you may retire stress-free and financially secure. Both regular and Roth IRAs should be considered if you intend to retire. Make sure you know each investment's tax repercussions if you want to invest in both.

Finding out how much money you'll need for retirement is easy when you use internet calculators for retirement planning. Estimating your costs today will allow you to account for potential future costs. If you are unsure how much to save, you can speak with a financial counselor. Planning may then start after you have a reasonable quantity.

The field of wealth management in financial management offers services to a wide range of clientele, from ordinary people to exceptionally wealthy people. The services provided are intended to guarantee that clients' financial objectives are met. An adviser or company that provides services to high-net-worth clients can provide these services. Engaging a qualified wealth manager to handle and monitor your clients' assets is advisable because they frequently require more time and knowledge to manage their money. These experts can offer objective guidance and improve the success of their client's assets. In addition, a wealth manager can provide various investment solutions tailored to satisfy an affluent client's specific demands. Here are the top three advantages of working with a financial manager.

Both insurance companies and investment organizations offer wealth management services. These services include risk reduction, estate preparation, tax planning, investment management, and planning for RSUs or options. Many independent wealth managers are also connected to legal and estate planning experts. However, the majority of individuals don't consider their financial situation to be affluent, hence they cannot afford to use such services. Independent wealth management companies, however, offer a wide range of services to high-net-worth people. Wealth managers provide accounting and tax services and financial planning and investment guidance. In addition, they might coordinate information from outside lawyers to create a thorough financial strategy for their clients. A wealth manager is also skilled at handling estate planning, which may be challenging if the client is unaware of how their financial decisions will affect their taxes.

The practice of aiding high-net-worth individuals with investment and asset protection is known as wealth management. Private wealth managers are a common term used to describe these experts. Their usual consumer has an annual income of $1 million or more or more. Wealth managers frequently work with customers with higher net worth than financial planners and are deeply involved in asset management. Private wealth managers, as opposed to financial advisers, are more directly involved in asset management and will handle their customers' financial assets on their behalf. Wealth managers provide customers with individualized services that are catered to their needs. These services frequently strive to give consumers excellent advice. These platforms frequently also provide alternatives for ethical and responsible investing. Online service providers may charge lower minimums or fees for their products. They are also available in nearby branch locations. There are several methods to get in touch with an adviser, and practically every RBC office has a wealth manager available.

Wealth management professionals create personalized financial plans for customers after listening to their aspirations and goals. Even if you already have an emergency fund and a savings plan in place, getting a second opinion can help you ensure that your cash flow is at its best. They can also assist you with estate or retirement planning; evaluating the various options and their services is crucial before choosing a wealth management company. It's essential to have frank discussions with your financial management advisor. By doing so, you may evaluate their level of knowledge and decide if you would benefit from their services. It's essential to look into their credentials and rates to see whether they match your demands.

Make essential to find out how the costs are determined before selecting a wealth manager. Some businesses charge flat fees, while others only charge on commission. Your age and how complicated your financial condition is will affect how much you'll be required to pay. Typically, if you have $250,000 or more in investable assets, wealth management services are advised. But for some individuals, financial planning comes first, and wealth management services are added as they accumulate assets.

Financial services such as risk management, estate planning, investment management, and charity are all included in wealth management. The objective is to increase returns while reducing taxes and other costs. Wealth managers frequently have to collaborate with other experts to offer services complementary to their line of business. For example, a money manager may assist you with tax and retirement planning. The type of service and the client's asset amount will determine the cost structure for wealth management services. For example, some wealth management companies may charge a portion of AUM. As a result, if the customer has assets under $2 million, their costs will be cheaper. A wrap fee scheme at other wealth management companies may combine all fees into a single yearly price.

Doing research is essential if you want to find the best financial advisor. Check the advisor's credentials and look into their past. You can also look at BrokerCheck, a site for the industry that keeps track of customer complaints and disciplinary actions. It would help if you also asked for references from former clients since a potential advisor may pick the most enthusiastic ones. In the end, you want to work with a trustworthy financial advisor who will put your needs first.

Once you have chosen a few financial advisors, learning more about them is next. First, check to see their credentials and how long they've been in the field. Next, find out if they are part of any professional groups and if complaints or disciplinary actions have been taken against them. Finally, ensure you know how much they charge before hiring them. This way, you can be sure to get the best financial advisor possible.

Try to get to know other advisors who work in the same field. Don't try to make a name for yourself as the "best" financial advisor by giving talks at large companies' financial seminars. This will get you warm leads and an implied recommendation. But be honest about your experience and the services you can provide. This way, human resources won't try to stop you, and you'll leave the presentation with a few warm leads.

Before you hire a financial advisor, you should figure out why you need one. For example, are you looking for a professional to help you saving money for retirement? Or do you need help figuring out how to handle your money while getting divorced? No matter what you need, it would help if you are looking for a professional who can help you. First, check to see if they have the plans you need. It's essential to ensure that the financial expert you choose can focus on your specific needs and will do their best to help you reach your goals.

A financial advisor can help you find ways to save money and find ways to cut costs. They can also help you find the best insurance policy and show you any gaps in coverage that could cost you money. They can even help you with the necessary paperwork, like naming a health care proxy and executor. A financial advisor can also help you with taxes, investments, and assets management. Finding the best financial advisor for your needs is essential if you want to be financially free.

 

"How much do I need to save for retirement?" says an old retirement equation. This calculation is difficult, but it is not impossible. If you're close to retirement, you should revisit the formula every year and make any necessary changes. Consider four factors when calculating how much you need to save for retirement. To begin, figure out how much you currently earn and multiply it by 25. If you work a regular job, you must save at least 80% of your salary until retirement.

The amount you save for retirement is determined by your overall wealth outlook. When calculating your needs, it's critical to consider your other assets, such as a real estate plan or a pension. If you're spending more on your cell phone plan than you are on retirement savings, you may need to rethink your priorities. But keep in mind that the sooner you start saving, the better. Saving for retirement is a critical component of creating a secure future. Fortunately, there is assistance available for those who do not have a lot of money to save.

A good starting point is to set aside about 12% of your salary. This figure includes employer contributions. You can save up to 15% of your pay if you get the maximum employer match. Remember, the sooner you start saving, the greater the compounding interest. Charles Schwab is a good place to start. If your employer does not match, you will most likely have to make up the difference.

Health-care costs are rising, and retirement savings must keep up. Even if you receive an inheritance, it may not change your life. Moving to a lower-cost state will result in even more savings. Furthermore, no one knows where taxes will go in the future. So, set aside more money than you think you'll need. You'll be happy you did. But don't get too caught up in what others are doing.

Most experts recommend saving 15 to 20% of your income for retirement. Starting early will give you an advantage because the percentages do not change significantly with age. However, make sure to stick to the same amount throughout your entire working career. This is the ideal time to begin saving for retirement. When you're young, your retirement savings will grow steadily. The percentages will be higher if you start saving later in life, so you will need to save more than you think.

You can also increase your savings by investing in stocks, bonds, and mutual funds, depending on your circumstances. You should also think about investing in index-linked mutual funds. This way, you can build a better portfolio for your retirement. Keep in mind, however, that most people make the mistake of planning for retirement under the assumption that they will live to be 80 years old. You might come to regret it.

One general rule of thumb is to save 80% of your pre-retirement income. This rule necessitates a flexible thumb, but it is effective. The 80 percent rule applies to any income earned prior to retirement. Remember to factor in taxes paid prior to retirement. Saving 80% of your pre-retirement income will allow you to save 80% of your retirement income. Those savings will continue to grow tax-deferred while you work, but not as quickly as they will in retirement.

A budget is another method for calculating how much to save for retirement. Then, divide your earnings by the number of years you expect to live. You'll know exactly how much you need to save for retirement by creating a budget, making it easier to meet your goals. For example, you could set a 4% withdrawal rate and then multiply the total by 25. Increasing your savings will extend the time you have until retirement. Always keep your risk tolerance and time horizon in mind.

It is critical to have a clear idea of the lifestyle you want to enjoy in retirement when deciding how much money to save for retirement. Consider your necessities, such as housing, food, and out-of-pocket healthcare costs. Next, think about the things you enjoy doing, such as traveling, eating out frequently, and having fun. You must consider the taxes you will owe if you spend more money than you currently have.

According to Ana Fajardo although planning for an early retirement may seem like a waste of time, there are numerous advantages to doing so. You might save money on insurance if you plan in advance. For instance, you can acquire long-term care insurance when you are young and in good health, allowing you to pay considerably less for the coverage than if you waited until you were older. When you retire, your insurance provider may refuse to cover you, which could cost you a significant amount of money.

A 403(b) retirement plan is one of the most common retirement savings vehicles. These programs automatically remove a portion of your pay and invest the funds in high-return investments. They are tax-deferred until the funds are withdrawn. Some employers match donations made to 403(b) savings accounts. You may discover a plan that best meets your needs. Using a 403(b) retirement savings plan, you can save for retirement without incurring any tax consequences.

Another advantage of a cash balance plan is that it provides the promised benefit. And unlike a regular pension plan, it doesn't require employee contributions. It is also portable, meaning you can continue to use it even if your employer changes its pension plan. Typically, investment credits range between four and five percent. If you intend to invest your funds, cash balance plans can be a wise option. Nonetheless, it is essential to comprehend the risks and benefits of each form of retirement plan.

Ana Fajardo thinks that, planning for an early retirement has several advantages and can help you avoid costly errors in the future. For instance, if you intend to spend 70 percent of your pre-retirement income, you should begin saving while you are still young. And if you want to invest your funds, you can double or even treble them and develop a substantial nest egg over time. A stable retirement fund is the basis for a happy and stress-free retirement.

Premiums for long-term care are less expensive the earlier they are purchased. And because you are younger, they increase annually by a lesser amount. Those in their fifties are subject to annual premium increases ranging from 2 to 4 percent. However, if you wait until you're 60, your rates would increase by up to 8%. And if you own your house, you may take advantage of today's low prices and enjoy the benefits of built-up equity.

As with any other form of plan, you will need to choose the one that best suits your needs. In the United States, an employer must establish a defined benefit plan (DB) before an employee's tax return is due. Those that seek to generate long-term wealth should choose for a defined benefit plan, whereas smaller enterprises should select a defined contribution plan. Nevertheless, there are more forms of retirement plans.

Employers normally do not offer GIAs, but individuals can acquire them to establish their own pension. Some folks prefer instant annuities, which provide a monthly payout for the remainder of their lives. Others favor deferred income annuities, which are funded gradually. With deferred income annuities, premium payments are made beginning at age 50 and continuing until age 65. Each payment increases the lifetime payment obligation.

Ana Fajardo believes that, the regular IRA is one of the best available retirement plans. Employees may invest as much as they choose in this tax-deferred plan. Remember that you can roll over your employer-sponsored retirement plan into an IRA. If your company provides a matching contribution, you can increase its value. Additionally, it is tax-deductible for those with higher incomes. You'll be pleased you did.

Alternatively, Roth IRAs are tax-free. Typically, your company will match your donation dollar-for-dollar, between 50 and 100 percent. There are, however, exceptions to this rule. If your employer matches your contributions, you can withdraw up to 5% of your total salary tax-free. A Roth 401(k) is even more advantageous because it can be converted into a tax-free IRA.

According to Ana Fajardo, a big bank or brokerage house, an independent financial consultant, or a multi-licensed portfolio manager may all offer wealth management services, depending on your specific requirements. Segmentation is a common marketing strategy used by large financial institutions to target certain sorts of customers. With their expertise in estate planning, risk management, and connections to tax and legal professionals, independent wealth managers can assist their clients manage their diversified assets. Oftentimes, these organizations depend on external talent pools for advice.

A bachelor's degree or other financial-related degree is required to get started in this sector. Financial management experience, as well as a relevant qualification, are also desirable. To be successful in the financial business, you need to surround yourself with the greatest ideas and the best financial expertise. Working with a wealth manager or financial adviser may help you stay on top of market changes and efficiently manage your money.

Additionally, wealth managers must be familiar with taxes regulations in order to discover the best investment solutions for their clients' specific objectives. If you make a lot of money, this is very crucial. Inheritance, company, and personal tax regulations are all intertwined, and this necessitates the expertise of a wealth manager. There are many individuals who inherit real estate holdings and are unfamiliar with the subtleties of the property industry. The appropriate wealth manager can guide you through the maze of investment possibilities and provide advice on the best ways to invest your money so that you may reduce your exposure to risk and maximize your returns.

Ana Fajardo pointed out that a flat yearly fee may be charged by fee-only wealth management businesses. If your financial position is complicated or you need a high degree of care, the prices may change accordingly. Fee-only firms may charge a fixed fee based on the value of assets under management, whereas commission-based firms may charge a percentage of sales. Do your homework on potential fee-only wealth managers before hiring one. Fee-only fiduciaries who do not receive commissions for advice may be an alternative if the former does not suit your needs.

Many individuals with substantial assets are on the cusp of retirement and must begin making preparations for their golden years. Retirement planning and investing advice may be provided by wealth managers. Also, they may deal with trusts and estate planning. For many wealth managers, the first step in offering services is making a financial commitment. Anyone with a considerable amount of money may profit from wealth management services. As a client of wealth management organizations, you must have a desire to grow money, define objectives, and prepare for the future in order to be accepted.

Wealth managers employ a variety of investment methods. A more cautious approach to investing, such as value-based investing, is preferred by Warren Buffett. Warren Buffett, on the other hand, and other financial professionals use a more comprehensive strategy when dealing with their customers' finances. Hedge funds and private equity offers are only two of the many investing methods that these experts utilize. Depending on the quantity of assets under their administration, they charge different fees. Investment counseling and estate planning are two examples of services where a fee may be charged.

In Ana Fajardo’s opinion, in certain cases, wealth managers go above and beyond the scope of a typical financial advisor's job description. In addition to trust and estate preparation, a wealth manager may specialize in charity giving planning, legal planning, and concierge healthcare. Before selecting a financial manager, you should examine their qualifications to see whether they meet industry standards. Alternatively, you may use the BrokerCheck service provided by the Financial Industry Regulatory Authority (FINRA) to verify their registration. If you're hesitant, check out the Financial Industry Regulatory Authority's website to find an authorized wealth manager.