At Logix Financial Services, we understand that your financial journey is unique, which is why we offer tailored strategies for every stage of life. Whether you’re building wealth in your 20s-50s, preserving assets as you approach retirement in your 50s-60s, or managing income post-retirement, our experienced advisors are here to guide you every step of the way. From personalized investment plans to risk management strategies and legacy preparation, we simplify the complex to help you aim to achieve financial freedom and independence. Let’s take a closer look at how we can help you pursue financial independence.
1. Accumulation: Building Your Wealth (Ages 20-50)
This is the phase where you focus on growing your wealth for the future. Whether you're in your 20s, just starting, or in your 40s planning ahead, it’s all about smart investments that set the foundation for financial freedom. We’ll help you choose investment options that align with your goals and timeline.
How we help:
- Investment accounts tailored to address your needs
- Strategize for potential long-term growth
- Planning for retirement and major life events
2. Preservation: Preserve What You've Built (Ages 50-65)
As retirement approaches, the focus shifts from aggressive growth to seeking protection of your wealth. You’ve worked hard, and now it’s time to keep that nest egg safe while giving it the possibility to continued growth. This phase is all about balancing risk and reward.
How we help:
- Lower-risk portfolios
- Conservative growth strategies
- Safeguard from market downturns
3. Distribution: Enjoying the Fruits of Your Labor (Ages 65+)
Once you retire, it’s time to reap the benefits of all your hard work. Our distribution strategies are designed to turn your accumulated wealth into an income stream with the goal of providing a comfortable and well-planned retirement. We'll help you navigate taxes, withdrawals, and even legacy planning.
How we help:
- Personalized income plans
- Tax-efficient withdrawals
- Legacy and estate planning
Glossary of Financial Terms:
- Financial Plan:
Create a plan to identify financial goals, such as retirement, college, or major purchases, and how to accomplish them. - Emergency Fund:
Accessible accounts to access, such as a Checking, Savings or Money Market Account, in the event of a loss of income or emergency. It is recommended to have 3-6 months' worth of living expenses in an emergency fund. - Cash Reserves:
Accessible accounts to access, such as a Checking, Savings, or Money Market Account, in retirement. It is recommended to have 6-12 months’ worth of living expenses in Cash Reserves. - Borrowing Money:
It is important to manage debt responsibly. There are several ways to borrow money when needed, such as Credit Cards, Personal Loans, Auto and Real Estate Loans, Home Equity Loans, and Commercial Loans. - Buying Real Estate:
Buying Residential or Commercial Real Estate is one of the largest purchases in your life. - Disability Insurance:
Some employers offer disability insurance to their employees but consider private disability insurance coverage also to ensure that all expenses are covered in a time of need. - Life Insurance:
Life insurance can help protect the people who depend on you and is the foundation of a financial plan. Some life insurance can also build cash value, which can help you grow funds that you can access during your life. - Retirement Savings:
It is important to start early. Maybe you have a 401k at work, or you should consider a Traditional IRA or Roth IRA. If you are self-employed or a business owner, there are retirement options as well. Start early, invest regularly. - College Savings:
College expenses are growing at a higher rate than inflation. Get started early in a plan that is right for you. UTMA’s and 529 Plans are options for College Savings. If invested, it is not insured and may lose value. - Investing:
Allow your money to work for you with the power of compound interest. Logix Financial Services has Financial Consultants who can provide investment guidance. Investments are not insured and may lose value. - Estate Planning:
It is important to create a Will and Trust as well as Durable and Medical Powers of Attorney. - Long-Term Care:
A private Long Term Care policy will allow you to control where and how you receive care and to avoid spending all of your retirement assets to afford care. - Medicare:
At age 65 or with a permanent disability, this coverage is available based on the needs of the individual. This can be very complex and Logix Financial Services has Financial Consultants to help with this. - Annuities:
An investment or income vehicle to consider in preparation for retirement. Our Financial Consultants can work with you to see if an annuity makes sense for your plan. - 401k Distribution Planning:
Typically, four options are available with a former employer’s plan, if permitted: Leave the money in the plan. Rollover the assets to the new employer plan, if one is available. Rollover to an IRA. Cash-out the account value. - In-Service Distribution:
The process to move a 401k plan from an existing employer to an IRA to work with a Financial Consultant and increase the investment options available when over 60 years old.
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