The Nida Financial Group is at the center of all of the forces that affect your financial health. We believe the only way to be an effective partner with you in your financial planning needs is to place ourselves at the heart of all elements of financial planning. We make sure all of the pieces work seamlessly together and continue to monitor those relationships with the goal to enhance your investments, preserve your assets and help mitigate your tax burden.
To learn more about each of these pieces, just click on the subject areas below and see how the Nida Financial Group plays an active role in your financial future.
Business and Tax Strategies
At the Nida Financial Group, we have a very specific area of business planning, generally related to business tax reduction strategies. Rather than delving into setting up a business or the rules and regulations that go into registering and setting up a business, we help existing businesses put processes in place to help minimize their tax liability; define unique, individualized compensation strategies for business owners and their employees; and, succession planning, where we can carve out the business owner as a defined entity.
If you are a business owner and want to learn more about how to restructure some of these areas of your business, make an appointment today and let us see where we can help you.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
As we get older, whether we like it or not, our bodies begin to show the wear and tear of time. Expenses begin to shift more toward healthcare and medications. In some cases, disease, illness, injury and diminished mental capacity can cause a significant, if not catastrophic, impact on the financial well-being of senior citizens. But, there are strategies which can be put into place to help manage these costs and preserve your savings. Whether it's having disability coverage, the purchase of long-term disability insurance, having a current and updated will, enrolling in the correct supplemental plans to assist with Medicare or having the cash-flow needed for assisted living and long-term care facilities, the Nida Financial Group can walk you through all of the options available to you. We strive to make sure that growing old doesn't mean having to suffer bankruptcy.
We will also show you how to protect your estate and your assets so they may be transferred seamlessly to your heirs at your passing. Elder care planning is something that applies to both you and your spouse. We look at how a death of one can affect income from Social Security, pensions, insurance policies and investments and whether or not there are other ways to restructure those income streams to enhance the surviving spouse's cash flow while seeking to minimize taxes.
Setup your free consultation today to see how we can help you begin planning for your retirement years.
At the Nida Financial Group, we recognize the need to coordinate with other specialties. One of these particular areas falls squarely on the shoulders of certified public accounts or CPAs. Much like with our legal relationships, we pride ourselves on building strategic relationships with accounting firms who understand those areas of financial planning that directly apply to our own clients. There are many parts that go into a Financial Planning. At the Nida Financial Group we are here to coordinate all of those other elements that go into creating a comprehensive plan, whether for you or for your business.
When it comes to charitable planning the assumption is that is just for the wealthy. This is simply not true. Charitable Planning is available to anyone who wants to give or leave something to their favorite charity. Charitable Planning incorporates tax saving strategies while carrying out your wishes to support your Charities. Furthermore, in many situations one may potentially be able to pass down more to their loved ones in a tax efficient way while at the same time leaving a legacy to the charity. We at Nida Financial Group can help you design strategies that are created with a goal that meet your specific desires and financial situation.
Several items that play a significant role in Financial Planning are provided through various types of insurance offerings. At the Nida Financial Group, we maintain a thorough knowledge of the different policies that exist and how to appropriately leverage them for each unique person's Financial Planning needs. During every season of your life, we want to make sure we are taking care of all three facets of Financial Planning - protection, saving and growth - and insurance falls directly in the protection segment. Whether automotive, home, medical, life or a host of other insurance needs, we will work towards making sure you have the coverage necessary to protect you and your family, and confirm you are not paying more than you need to in the process.
Financial Planning has become a complex entity with many individual parts that must work in conjunction with one another. At the Nida Financial Group, we have the knowledge and experience to coordinate all of those moving pieces so you won't have to. We want you to focus on keep your financial dreams clearly in mind while we do those things necessary to work toward your goals.
Though we are not bankers by trade, at the Nida Financial Group, we are intimately aware of the importance your bank plays in an overall Financial Planning strategy. We maintain a thorough knowledge of the offerings and vehicles available in many of our financial institutions to make sure we are getting the most out of your money. We have the experience necessary to weigh all of the options available and pick the appropriate path that strive to ensure your financial goals may become a reality.
At the Nida Financial Group, we often talk to our clients about the many seasons of their lives. And, much like the shifting of the seasons brings a change in the environment, as we grow older, our financial needs also begin to alter. We want to make sure we are providing a savings component through all seasons of your life, to go along with areas of preservation and growth.
Make an appointment today so we can show you how to coordinate all of those changes throughout the course of your life. Tell us what your dreams are so we can help you define your goals.
At its most basic level, Retirement Planning with the Nida Financial Group means putting strategies in place designed with the objective to ensure you do not outlive your money. When we meet with new clients, one of the biggest fears mentioned is running out of money. Most come from the perspective of not wanting to be a burden to their children in their elder years. Other want to make sure they have the ability to not just live comfortably, but also to be able to provide for their children, grandchildren and great-grandchildren.
Retirement Planning should be thought of as an umbrella, a term meant to capture all elements of financial planning that eventually leads to an individual's retirement. Though often thought of as something you do as you approach age 65, in point of fact, retirement planning begins the moment you enter the workforce. Retirement planning includes identifying sources of income, estimating expenses, implementing a savings program and managing assets.
Early in one's career, the priority is on home and family and incomes are generally lower. Typically the focus in this stage of Retirement Planning is on leveraging a company's (or an individual's) retirement savings account. As your children reach college age, individuals begin the middle phase of their career, where retirement goals usually become more clearly defined. Topics such as travel, lifestyle and desired monthly income become more concrete and therefore the investments may become much more targeted to help pursue those dreams. Then, as individuals reach that golden age of retirement, strategies are typically implemented to maximize cash-flow while minimizing tax burden.
The Nida Financial Group can walk you through each of these seasons of your life, helping you to plan efficiently and effectively for that time when you can pursue and independent retirement.
Though we are not attorneys, at the Nida Financial Group, we pride ourselves on having built strategic relationships with law firms who specialize in those areas that directly relate to all areas of financial planning. But it goes beyond that. We make sure when we partner with another firm, it's not just for their legal expertise and experience, but also because they share the same passion for the success of their clients as we do for ours. Financial Planning has become a very complex entity and it requires the coordination of several moving parts. At the Nida Financial Group, you can have confidence knowing you won't have to figure out where to go to get all of the other professional services to complement your planning. We take that burden off of your shoulders so you can focus on keep your financial dreams clearly in mind while we make sure all of the pieces are working toward your goals.
Legacy and Estate PlanningThere is no such thing as having an estate that is too small to require planning. Your estate is everything you own, not just your home. It is your total net worth at any point in time, which includes all of your assets, including property. At the Nida Financial Group, we will help to implement financial strategies throughout your life to help ensure all of your belongings will pass to your heirs in the smoothest way possible. We strive to leverage all of the existing tax laws to limit estate taxes and mitigate unnecessary expenses, which means more of your wealth will pass to your family in a smooth and harmonious manner.
Estate planning also entails the technical aspects of the disbursement of your assets at the time of your demise. It differs somewhat from Legacy Planning, which focuses more on the emotional component of how you want to be remembered and the impression you want to leave on your surroundings after your death. Where Estate Planning is more focused on the distribution of your assets, Legacy Planning concerns more of the heritage you want to leave behind.
In terms of your Legacy, this element of planning puts a primary focus on answering the question, how important is it to you to have both a financial and personal stake in the future of your family and the causes that are dear to you? From a legacy standpoint, we want to know, how much do you care about what happens to your heirs and your personal pursuits after you are gone? At the Nida Financial Group, we want to make sure that not only are your assets properly distributed, but also we want to ensure to we have taken the appropriate steps to continue your vision for your family and your name long after your departure.Some of the areas that go into Legacy and Estate Planning include:
- Life Insurance
- Elder care planning
- Asset protection strategies
- Coordination of all assets
Remember, even the smallest of estates can have major issues if not planned correctly. In a time of sorrow, don't burden your family with the added weight of having to fight a battle in court. Take time today to contact the Nida Financial Group and begin your Legacy and Estate Planning today.
This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest you discuss your specific situation with a qualified tax or legal advisor.
Special Needs Planning
Some of our clients have the added challenge of planning for a family member with special needs. This extra financial burden can be made less stressful by implementing the appropriate strategies that seek to provide the cash flow necessary, not just for today, but for their ongoing care throughout the entirety of their life. Whether implementing certain supplemental needs trusts, special needs trusts, applying for Medicaid or other disability benefits, the Nida Financial Group has a network of specialized professionals on-hand where we can tie all of these pieces together for you. Our goal is to be a one-stop planning source for you to make sure family members who have special needs can receive maximum access to health care. We also pay close attention to issues related to specific elements of Estate Planning , especially as it relates to legal, financial, medical and family issues.
If you have a special needs member in your family, make an appointment with us today to see how we can make sure all elements of that person's life is being coordinated to pursue enhanced financial support, with minimal confusion.
Planning for the finances necessary to send your children to college should not begin as they start their senior year. Ideally, the time to begin a college savings plan is when you and your spouse first decide to even have children. Though you can begin saving for college any time, at Nida Financial Group, we can show you how your money may grow the earlier you begin to implement a savings plan. We will take you through the many options available and provide you with a strategy to pursue your college savings goals.
But what if your child chooses not to go to college or does not want to go immediately after high school? If you have properly structured your college savings plan, you could use that fund for retirement planning or even buying a home, depending on the financial vehicle used to save for post-secondary education.
If your child decides to take a few years after high school to work, travel or join the military, the money in the college savings fund will still be there when he or she decides to enroll in college. There is no time line for using the money you have set aside for education. And, if there is money left over after graduation, depending on the program used for college planning, the remaining balance could be passed down or reinvested into a retirement savings account.
When we meet with you to discuss college planning, we will take you through the cost projections for school, both in-state and out-of-state, and give you a full picture on how much money should be needed. We will be able to tell you, based on the financial structure of the plan, exactly what options you have available to work towards your college education goals.
With the soaring amount of debt so many college students amass with loans, it is never too late to begin looking at ways to not only reduce that financial burden, but also to pursue optiosn with the goal to never have the burden in the first place.
Make your free appointment today for an initial consultation with us at the Nida Financial Group and pursue your dream today about where you will send your children to college tomorrow.