Frequently Asked Questions
How do I prepare for my child’s education?
If you’re like many parents, not only do you feel somewhat obligated to put your kids through college, but there’s also a big part of you that really wants to give your children the gift of higher education. College is anything but cheap, and it will only become more expensive as the years flash by. It’s best to start planning early, but even if you feel a little behind there are several different options available to make the most of your plans to prepare for the cost of education. We will talk you through your options and determine which will be the most advantageous for you.
What is estate planning?
In its simplest explanation, estate planning involves determining how your assets will be distributed after you die.
Many Americans mistakenly believe estate plans are only for millionaires, but it’s important to have a basic estate plan in place regardless of your net worth. Although many people can feel overwhelmed by the perceived scope and difficulty of developing a plan, estate planning offers several benefits:
- You get to legally determine who will receive your assets.
- Your plan can provide as much protection as possible from taxes that can diminish the value of your estate.
- It gives you peace of mind, knowing that your financial affairs are in order and the responsibility will not fall on the shoulders of your loved ones.
What is the best way to manage my 401(k)?
Whether you’ve been saving for retirement for years, spending your entire career penny pinching or you just started to put money away for your future and are looking to build onwards and upwards, chances are you have found yourself with a 401(k).
Many people go through the effort of investing in their 401(k) plans, but make critical errors in how they invest into it. There are a few ways to make sure that you are making the most of your plan now and into the future. We can help you plan how best to manage your 401(k) while you prepare for, transition into, and ultimately enjoy your retirement.
How can I maximize my Social Security Benefits?
Are there claiming strategies that can optimize your Social Security benefits even if you needed to start collecting at an earlier age? The answer is “Yes”. Advantageous strategies can be applied to this situation as well when you know how to maneuver through the claiming process… you just need the proper tools to guide you through the rules.
The world today is very different… life expectancy has increased, pensions have dwindled, medical costs have increased, and the economy remains uncertain. Especially now, maximizing your Social Security benefits is necessary because these are unfavorable conditions. You can add thousands of dollars to your retirement funds just by applying the right Social Security claiming strategy for you. With a RICP designation, Mike Gibbons is uniquely qualified to help you to develop and navigate your plan.
Who handles our investments?
Mike takes a personal approaching to meeting with clients, planning out an investment strategy, and managing that strategy over time. You won’t talk to a robotic machine or have your inbox flooded by automated email spam. At Gibbons Financial Group you are a person with retirement goals and dreams, and Mike treats you with the hands on service to help you pursue them.
What do you mean by a “custom plan”?
Having a custom retirement income plan is as critical as saving for retirement. It is about where to invest, how to withdraw money, and how to use financial tools to work toward protecting the longevity of your money in retirement. Your current financial standing and future financial goals are unique, so your plan should be as well.
HAVE OTHER QUESTIONS?
We would love to discuss any questions or concerns you have with your current financial plan or future goals. Give us a call or set up an appointment today and get all the answers you need to retire without uncertainty”