Tom Meaglia photo

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

May/June 2024

Building Wealth for Retirement

Wealth building , under construction or repair isolated on a white background

Saving for retirement in an employer’s 401(k) plan or an individual retirement account (IRA) is only one part of a wealth accumulation strategy. A comprehensive wealth strategy involves a personalized, in-depth review of what your financial future may look like. Having a wealth strategy can help you set a course for financial stability in retirement.


Your Financial Situation
The wealth accumulation strategy you employ will depend in part on an assessment of your current finances, including the assets you already have. A review can help determine if you’re saving and investing enough each year based on your goals and allow you to address any potential gaps.


Your Goals
The amount of money you’ll need in retirement will depend on your expenses and your desired lifestyle. Think about where your income will come from and the amount you can expect from each source. Then estimate your expenses, including living costs, health care, taxes, travel, hobbies, and legacy plans. Knowing how much money you’ll need for each expense will give you a better understanding of what you’ll have to earn from your investments. Use it as a guide in determining your asset allocation* and the amount of risk you can take with your investments.


Strategies for Growth
The wealth strategies you implement should be specific to your goals and include both growth and protection strategies. Start with a diversified* portfolio that consists of a wide variety of asset classes, such as stocks, ETFs, mutual funds and fixed-income investments. Also, consider an annuity to help create a lifetime income stream for you or for you and your spouse.** Consider adding life insurance to replace a spouse’s income if he or she dies; a long-term care policy to protect you from rising care costs; and a health savings account, if available to you.


Your financial professional can help you create and implement a wealth accumulation strategy to prepare for retirement.


*Diversification and asset allocation cannot eliminate the risk of investment losses. Past performance won’t guarantee future results. An investment in stocks or mutual funds can result in a loss of principal. Asset allocation may help reduce volatility in your portfolio.


**Distributions from annuities are taxed as ordinary income and, if taken prior to reaching age 59 1/2, may be subject to an additional 10% IRS tax penalty.


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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.