As we near the end of another year, it's the perfect time to reflect on your financial journey and set a course for the future. Year-end planning is not just about financial housekeeping; it's a strategic opportunity to optimize your financial health and make the most of your investments. In this newsletter, we'll guide you through key areas of year-end planning for 2023.
Income tax planning is an essential component of year-end financial preparations. As the year concludes, you have the opportunity to assess your tax situation and make strategic moves to reduce your tax liability.
Our team is here to guide you through various tax planning strategies, including:
Understanding current tax laws and staying informed about potential changes is key to making informed decisions to maximize your financial health.
Your investment portfolio is at the heart of your financial strategy. As we approach the end of the year, it's an ideal moment to evaluate the performance of your investments. Our advisors can provide expert advice on how to review your portfolio, ensuring it aligns with your risk tolerance and financial objectives.
In this time of market volatility, diversification and asset allocation are more important than ever. Our team regularly rebalances client portfolios to maintain your desired risk profile and we can help you make adjustments to keep you on track to meet your financial goals in the year ahead.
Retirement planning is a journey, not a destination. Whether you're nearing retirement or it's still years away, ongoing planning is essential. The year-end is a perfect occasion to assess your retirement plan.
Our advisors are well-versed in various retirement planning strategies, such as forecasting retirement income and expenses and optimizing withdrawal strategies to ensure a comfortable retirement. We can also help you reassess your retirement goals to ensure they align with your vision for the future.
Legacy planning goes beyond financial assets. It involves transferring not just wealth but values, stories, and wisdom to the next generation. Our advisors can assist you in creating a comprehensive wealth transfer plan, ensuring your assets are passed down as intended and with minimal estate tax implications.
We can help you understand the importance of
Legacy planning is not just about securing your financial future; it's about ensuring your family's well-being for generations to come.
In today's digital age, financial information is at our fingertips. However, the wisdom to interpret and act on that information effectively often requires professional advice. Our financial advisors bring invaluable insights to the table, tailored to your unique financial situation and goals.
Year-end planning is a strategic opportunity to maximize your financial health and ensure you're on the right path for the future.
Our team is here to guide you through year-end financial planning. Please don't hesitate to reach out to us for any questions or assistance you may need.
We are committed to your financial success and look forward to helping you achieve your goals in the coming year.
The Canty Financial Team
Bill Canty, CFP®, CPA, Financial Planner
Ed Canty, CFP®, Financial Planner
Joe Canty, CFP®, Financial Planner
Maureen Walsh, EA, Tax Advisor
Tina Alteri, CPA, Tax Advisor