Savings Rate Vs. Rate of Return

Posted by Connor Creekmur, MBA on 9:00 AM on May 9, 2022

A common question I receive as a wealth advisor is, "What investments someone can make to get a big return?"

While Creekmur Wealth Advisors spends a substantial amount of time researching, modeling, and planning investment strategies we do not believe that rate of return is the most important rate to focus on when it comes to investing. We do appreciate seeing a high rate of return and strive to achieve that.

However, the most important rate I would encourage clients to focus on and monitor is their savings rate since it is totally under the investors control and is the largest contributor to your final net worth.

Your savings rate is calculated by taking the total amount of your annual savings and dividing it by your gross or net income. I prefer using gross income as this encourages us to find tax-efficient methods of savings to maximize our savings rate.

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Topics: Financial Planning, Investing, Saving, saving and investing

Post Tax Season Planning Tips

Posted by Andy Anderson, CFP® on 11:00 AM on May 2, 2022

Tax season has come and gone, but that does not mean the planning stops! While much of your focus prior to April 18th may have been on making sure you get your tax return submitted properly, the focus can now shift towards some other items that can improve your financial well-being over the course of the rest of the year.

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Topics: Financial Planning, Goals, taxes, Certified Financial Planner, CFP, Tax Planning

Tax Planning for Beginners

Posted by Connor Creekmur, MBA on 1:14 PM on April 5, 2022

“Nothing is certain but death and taxes” -Benjamin Franklin.

The more time I spend in the financial services industry, the more I see this quote proving to be very true. 

There are not many certainties in life, but the things we do know for certain, we like to plan for and taxes are one of those certainties. You may have already filed your taxes, but planning for taxes is different matter.  Since it's tax season, there is no better time to review your financial plan to ensure your financial life is operating as efficiently as possible!

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Topics: Financial Planning, IRA, Roth IRA, tax deferred growth, Tax Planning

Tax Planning Made Easy

Posted by Andy Anderson, CFP® on 4:24 PM on March 17, 2022

Believe it or not, we are only one month away from the tax filing deadline! With that in mind, we figured it would be beneficial to discuss some last minute 2021 tax planning ideas as well as one that could help you out when it comes time to file 2022 taxes.

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Topics: Financial Planning, Goals, taxes, Certified Financial Planner, CFP, Tax Planning

February News Roundup & Perspective

Posted by Drew Creekmur, MSPFP on 9:00 AM on February 25, 2022

Every few weeks we compile a list of articles and books which we believe would be helpful to investors who want to make wise, informed decisions. All of these are relevant to current events  or the long-term financial planning methodology that we here at Creekmur Wealth practice with our clients every single day.

If you have any questions you can reach out to our team via email or by scheduling a call using the link below. With that in mind, lets dive in!

Schedule your Personal Q&A Call Here

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Topics: News, Financial Planning, Investing, Investment Portfolio, Investments

Investing 101: A Three Step Plan to Investing Success

Posted by Connor Creekmur, MBA on 11:22 AM on February 22, 2022

One of the biggest issues that new investors run into is developing an easy-to-repeat, long-term investing strategy. Below I'm going to discuss three steps you can use to help develop your investing strategy. By having a set strategy every investor is better prepared to weather the inevitable volatility of the market.

What 3 Steps Should You Follow When Investing?

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Topics: Financial Planning, Goals, Investing, Investment Portfolio, Investments

Building A Recession Proof Retirement Portfolio

Posted by Andy Anderson, CFP® on 5:26 PM on February 7, 2022

What Does It Take To Build a Recession Proof Retirement Portfolio?

How can my portfolio and my retirement survive a recession? This is a very common fear for retirees and pre-retirees and considering the movement of the market recently, you may have had this same question yourself.

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Topics: Financial Planning, Goals, Investing, Certified Financial Planner, CFP

What Goals Do You Want to Accomplish In the New Year?

Posted by Andy Anderson, CFP® on 9:00 AM on January 17, 2022

3 Steps You Can Take Accomplish Your Goals In 2022

When the time comes to put a new calendar up on the wall, you have the opportunity not only to reflect on the year gone by but also to plan for the year to come.

You may be planning to send a child to college, purchase a new vehicle, take a family vacation, or go after a big promotion at work. With all the incredible experiences you have on the horizon, it can be easy to forget about those to-do list items that don't spark that same feeling of excitement as the goals themselves.

3 Things to Help Achieve Your Goals In The New Year

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Topics: Financial Planning, Goals, Certified Financial Planner, CFP

2022 Contribution Limits

Posted by Creekmur Wealth Advisors on 8:00 AM on December 28, 2021

Some things you might consider before saying goodbye to 2021.

Preparing for retirement just got a little more financial wiggle room. In November, the Internal Revenue Service (IRS) announced new contribution limits for 2022.

Staying put for 2022 are traditional Individual Retirement Accounts (IRAs), with the limit remaining at $6,000. The catch-up contribution for traditional IRAs remains $1,000 as well.1

For workplace retirement accounts (i.e. 401(k), 403(b), amongst others), the contribution limit rises $1,000 to $20,500. Catch-up contributions remain at $6,500.1

Eligibility for Roth IRA contributions has increased, as well. These have bumped up to $129,000 to $144,000 for single filers and heads of households, and $204,000 to $214,000 for those filing jointly as married couples.1

Another increase was for SIMPLE IRA Plans (SIMPLE is an acronym for Savings Incentive Match Plan for Employees), which increases from $13,500 to $14,000.1

If these increases apply to your retirement strategy, a financial professional may be able to help make some adjustments to your contributions.

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Topics: Uncategorized, Financial Planning, Investing, Planning, Retirement

End-of-the-Year Money Moves 2021

Posted by Creekmur Wealth Advisors on 10:44 AM on November 17, 2021

Some things you might consider before saying goodbye to 2021

What has changed for you in 2021? For some, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s one step. Did you retire? There’s another step. If notable changes occurred in your personal or professional life, then you may want to review your finances before this year ends and 2022 begins. Proving that you have all the right moves in 2021 might put you in a better position to tango with 2022.

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Topics: Uncategorized, Financial Planning, Investing, Planning, Retirement

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