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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

July/August 2024

Bouncing Back From 2023

Business challenge, revenue rebound and recover from economic crisis or earning and profit growth jump from bottom concept, strong businessman jumping from trampoline back to top of growing bar graph.

Nearly 70% of individuals surveyed* earlier this year reported facing stressful financial challenges in 2023. But looking forward, most respondents, and particularly high-net worth individuals, believed their finances will be better in 2024. While there are financial areas that you may think you could have done better with last year, it is not too late to improve on them this year. Here are some items you may feel you want to work on.


Didn’t Hit Your 2023 Retirement Savings Goal?
Strive to maximize your retirement plan contributions for the rest of 2024 and carry your increased contributions into the future. One way to do this is to funnel any raises and bonuses you’ve received into your savings plan. Another is to review your spending for any potential cuts.


Fell Behind on Other Savings Goals?
Set up automatic transfers to savings vehicles to help you save for goals such as education, an emergency fund, or that down payment on a first home, etc. Make sure your money is liquid and paying the highest interest rates possible.


Accumulated More Debt than You Want?
Budget funds to pay off that debt. You have several options. One popular strategy is to pay off your highest interest rate accounts first. You might also consider a lower rate debt consolidation loan with a reputable financial institution.


Financial Tips
About 88% of respondents* consulted someone regarding their finances, including family and friends (57.5%), social media influencers (50.5%), professional financial advisors (43.3%), co-workers/colleagues (36.9), and mentors (16.6%). Discussing finances with people close to you is okay, but with your higher-than-average net worth, the best people to consult are your financial, legal, and tax professionals.


Celebrate
Yes, getting in the habit of identifying positive financial decisions and wins during 2024 and celebrating successes is motivational and can give you a clear idea of what to continue doing.


* OnePoll for Forbes Advisory


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.