Net Worth Summaries vs Portfolio Reporting
At this time of year, we shift our focus to something truly fascinating – the net worth summaries of our valued clients. It never ceases to amaze us as we delve into the diverse range of net worth returns from one family to another. How is it possible that the 2023 net worth outcomes for over 65 families, all with similar portfolios, exhibit a staggering 60% variation year over year? Now, you might be curious about why Bienvenue Wealth places such significance on net worth summaries rather than the typical portfolio performance reporting. Well, here’s the heart of the matter – your family’s portfolio is more than just numbers on a page; it’s the fuel propelling your life’s plan. While the financial aspect is undeniably vital, it’s just a piece of the grand puzzle. Successful investors are those who consistently act on a thoughtfully crafted plan, steering their ship through…
5 Important Retirement Savings Milestones to Reach In Your 50s
When you’re just a few short years away from retirement, there are some exciting milestones to prepare for. Now’s the time to buckle down and think about what you want your retirement to look like and how your savings strategy can help make it happen. Below we’ve identified five savings milestones you should address as you move closer to your dream retirement. Milestone #1: Determine How Much You Need to Save At this point, you may have a general idea of how much to save for retirement. As you near the final stretch, now’s the time to dig in and decide how much you need to save up before leaving your 9-to-5 job for good. Start by considering what your ideal retirement will look like. Your retirement lifestyle plan will help you determine how much you’ll likely be spending in retirement. In other words, your retirement lifestyle plan will directly…
Live Long and Prosper? 5 Ways to Plan for Extended Longevity in Retirement
If you are a Star Trek fan, you may recognize this pivotal line from our Vulcan friend, Spock: live long and prosper. But saying those words won’t automatically make them true. In today’s world of increased longevity, you want to plan mentally, physically, and financially for a longer life. How do you set yourself up for prosperity in retirement? Today, we’ll discuss planning for a long retirement and some critical points to consider along the way. How to Plan for a Long Retirement While we don’t know how long you’ll live, the CDC estimates the average man’s life expectancy is 73.2 years, and a woman’s is 79.1 years. Even though life expectancy stats have dipped during the pandemic, more people are living longer than ever before. In fact, longevity is becoming a top goal for many retirees. An Age Wave report from Edward Jones found that 70% of people want…
Should You Take a Loan From Your 401(k)? (And Why The Answer Is Usually No)
Sometimes, it may feel tempting to take a 401(k) loan, especially if you’re strapped for cash. However, doing so comes with costly consequences.
Why You Don’t Need To (Over) Stress About Inflation
Have you been following along with the financial headlines? You may have noticed a lot of buzz around a particular topic—yes, it’s inflation.
Investing For Your Young Children: How To Balance Proactive Saving & Financial Education
Most parents understand the importance of teaching financial literacy to their children. Saving for a goal such as college is a great place to start.
How To Completely Master Your Compensation: A Look at RSUs
RSU’s are a type of equity compensation granted to employees via company stock. Understanding them can have huge financial benefits.
4 Things You Need To Consider Before Purchasing A Rental Property
Make sure you know these facts before purchasing a rental property; because managing it is a huge financial and personal undertaking.
How Much Is Too Much College Debt?
How Much College Debt Is Too Much?