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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
July/August 2024
Bouncing Back From 2023
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
GE-6407076.1 (2/24) (Exp 2/26)
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Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. GE-6572038.1 (4/24)(Exp. 4/26)
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc.
These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
R.I.C.H. Planning Group, LLC 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.
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