Planning for retirement is never a “set it and forget it” activity: There are unexpected disasters, market drops, and changing laws that invariably cause retirees to reevaluate their plans. Diseases, natural disasters, or political instability are examples of things that can cause market downturns or drops. Such occurrences are difficult to predict, and their consequences can cause people to make hasty decisions with their finances. If you’re concerned about your financial security as you near and enter retirement, assessing your risk tolerance, reevaluating your portfolio, and seeking professional advice could be a good idea.

In 2023, we saw a continuation of market turbulence, loosening of labor markets, and lighter inflation due to economic tightening from the Federal Reserve. Compared to a couple of years ago, you may have noticed higher prices on the items you buy every week and may be wondering if we’ll continue to see high inflation. Nobody can predict the future, so if you’re nearing or in retirement, you should aim to protect yourself from the eroding effects of inflation.

An estate plan can help you pass on the assets you’ve worked so hard to accumulate in the most efficient way. With a proper estate plan in place, it can help minimize taxes so your family can receive more of your assets instead of Uncle Sam. And you’ll also have the comfort of knowing that your loved ones have a plan in place to help them understand how the finances work.

Several changes to the healthcare system are coming in 2024.

Some states are considering a new tax on individuals that do not have long-term care savings or coverage plans.

Long-Term Care programs may be introduced to cover certain benefits over certain periods.

How will this transform your financial situation if your state adopts these changes? Contact a Suncrest financial professional to find out at (801) 676-0146.

Americans today are living older than in the past: In 1950, life expectancy for Americans was 68 years old, and in 2023 it’s roughly 80.¹ Of course, many people live to be older than that. In fact, the Census Bureau estimates that by 2050, Americans 90 and older will make up 10% of the population.² A longer, healthier life is certainly a blessing, but it comes with extra costs that are important to consider when creating a retirement plan.

When it comes to retirement, proper financial planning is a key to success. Planning for retirement isn’t a “set it and forget it” process. Our guide will teach you strategies to help maintain your financial plan to get you to and through retirement, no matter what changes may come your way.

For many years, you’ve been the captain of your ship. Running your own business hasn’t been easy, and success was never guaranteed. Retirement planning is the next uncharted waters for you, and there’s no one-size-fits-all map. In this guide, we will break down topics that can help you create and execute your unique retirement strategy.

Congress passed the second installment of the SECURE Act under the Omnibus Spending bill of 2023, containing major changes to the retirement planning landscape.

In the past, retirees could typically rely on a pension and Social Security benefits and pensions for the rest of their lives. But today’s retirees are part of the first generation that often must fund their own retirement. Even for those who have saved diligently over many years, the threat of outliving one’s money is legitimate. Lawmakers recognized the changing needs of today’s retirees, and passed the SECURE ACT in 2019, and now the SECURE Act 2.0 in the final days of 2022.

You may not think of your family as incredibly wealthy, but America is full of ‘millionaires next door.’ Financial advisors are not just for movie stars and CEOs, they work with countless ‘millionaires next door’ each year to protect and grow their retirement savings and finances. This guide covers the basics of why a financial advisor is helpful for millionaires next door.

Social Security planning is one of the most important elements in any retirement plan, but getting the most from your Social Security benefit can also feel complex and frustrating. In our guide, “Optimizing Your Social Security in Today’s World,” you’ll uncover practical tips and easy-to-understand steps to get the most out of your Social Security benefits.