Wow, can you believe it’s September already and fall officially starts on the 22nd? What a beautiful time of year. Yes, it can be sad to see summer over, but that doesn’t mean fall is not worthy of the same affection with the leaves changing from green to an incredible display of vibrant colors. Fall might be one of our prettiest seasons of the year.
The team here at Swenson Wealth Management is looking forward to enjoying the fall colors, apple picking, pumpkin pie, sweater season and, of course, football. (In addition to being a financial coach, you will find Travis Krueger coaching his son’s football team. Go team!)
Like seasons change, our lives change, too! What season of life are you in? Understanding the “financial seasons” of life can help you define where you are at today and the steps you may want to take in the future.
- Accumulation Season – ages 20 to 55
This is your working years, the time you spend accumulating wealth by saving and investing consistently. This is the time to take advantage of employer-sponsored retirement plans, open a brokerage account and work to keep unnecessary fees and taxes to a minimum.
- Preservation Season – ages 55 to 65
This is the time when you start thinking about retirement. You want to protect the money you’ve worked hard to accumulate. Typically, this is a time people become more conservative with their investment dollars and seek safer alternatives that still provide some rate of return.
- Distribution Season – ages 65+
Many people are blessed to have a 20 to 30-year retirement. Once you enter retirement it is important to consider your tax liabilities and the order from which you withdraw or take that distribution from your retirement savings.
- Succession Season – after your death
What do you want to happen to your savings and assets at your death? It is important to have proper planning to avoid your legacy being eaten by taxes and fees rather than going to your intended heirs.
We are here to help you through your “financial seasons”. We can review how you are doing and find strategies to help you best take advantage of the season you are in. We’ve been helping hard working individuals and families prepare for life in retirement for decades. It is our priority to provide you with personalized service and financial advice. We encourage you to contact us anytime.
In the meantime, enjoy the autumn sunshine and fall colors! Stay well!
The Swenson Wealth Management Team
Swenson Wealth Management Investment Advisor, Travis Krueger, was a guest on our local Keloland Living show on Friday, August 28, 2020. Travis shared how we help our clients navigate today’s complex financial world with customized plans that fit their personal, family and business needs and prepare for retirement. KELOLAND Living is an exciting daily, one-hour local lifestyle talk show airing at 2 PM CT Monday thru Friday.
Click HERE to view his guest appearance
Do you have friends, family or coworkers with Financial Questions or Concerns?
While keeping safety a top priority, Swenson Wealth Management, is still offering educational workshops. If you know someone that could benefit from the services we provide, like retirement income planning, maximizing social security, investment management, estate planning, life insurance or annuities, we would love a referral or introduction. We will send you a gift card for each referral that sets an appointment.
Topics being covered in our workshops include:
- Strategies to help achieve long-term financial goals
- The importance of maximizing Social Security Benefits
- Strategies to convert your IRA into tax-free income
- Turning your 401(k) and lump sum pensions into a steady income stream
- Handling market volatility
Please give us a call at the office for more information! 605-274-8707