financial planning

Name: 360 Wealth Consulting, LLC
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Managing Overspending in 2025

We are seeing overspending increasingly being shaped by various factors. These problems are being shaped by societal pressures, lifestyle expectations, and impulsive emotional purchases. Between the use of digital media and targeted advertising, the temptation to spend beyond one’s means has never been greater. By pinpointing the underlying causes and implementing structured financial strategies, individuals can effectively manage and minimize the repercussions of overspending. 1. Social Pressures Social pressures significantly contributes to overspending. We live in the era of social media, where curated representations of success create unattainable ideals. To combat this, it’s essential to concentrate on personal financial objectives and refrain from comparing one’s circumstances to others. Establishing a realistic budget and prioritizing necessities over luxuries can serve as a protective measure against external influences. 2. Lifestyle Inflation Lifestyle inflation, the tendency to increase expenditures as income rises, poses another widespread challenge. Though it’s natural to want to reward oneself, it […]

Wealth Management Tips for January 2025

The new year is finally here, meaning it is time to review your wealth management goals for 2025. Reviewing your portfolio with a professional will help identify any potential risks, while focusing on opportunities for financial growth. Here are three key resolutions to plan for when considering the year ahead. 1. Optimize Your Investment Portfolio The first wealth management resolution for 2025 should be evaluating your investments. A well-structured portfolio should align with your financial goals while taking into account your overall time horizon and risk tolerance. Be mindful of how market conditions and personal priorities evolve over time. Key points: – Review Your Asset Allocation: Confirm that your distribution across stocks, bonds, and cash are all in sync with your objectives. If the 2024 market shifts have altered your allocation, consider rebalancing to maintain alignment with your long-term strategy. – Enhance Tax Efficiency: Explore tax-advantaged accounts and, where applicable, […]

Annuities and Retirement Planning: Safeguarding Your Future Income Stream

Safeguarding Your Future Income Stream

Tax Planning as a Service

Most people just think of taxes when returns are due. That’s probably because most accountants and other financial professionals don’t offer much else. Tax planning is a specialty. It’s also an incredibly important issue to consider for wealth building success. There are lots of different applications for a tax planning professional. It ranges from careful and calculated steps for long term wealth building to panic button moments where today’s decision could have a big impact on taxes owed tomorrow. Sure, it’s great if you can know in advance what you’ll do in every circumstance, but life doesn’t always happen that way. Good tax planning consultants are not only there for retirement strategies, but are also available when you need input on now decisions that could be costly if not structured carefully. Don’t think you don’t make enough money to make tax planning necessary? Lifestyle focused people can often benefit the […]

Secure 2.0 Act Changes to Federal Tax Code

It’s a new year, which means new tax code changes. Some of those changes involve the Secure 2.0 Act. Many will appeal to tax payers. There are over 100 provisions in this Act, designed to encourage participation in retirement plans. We’ll focus on some of those most likely to be relevant to you. 401(k)s Employers can provide incentives for employees to contribute to their retirement accounts as part of the Secure 2.0 Act provisions. Student loan payments will qualify as employee contributions for employer matches to retirement accounts come 2024. Studies and personal stories argue student loan debt is a barrier to wealth building. By allowing employees to count repayments on higher education costs as substitutes for retirement contribution matches on 401(k)s, younger employees can see the benefits of compound interest earlier with retirement investments. One of the Act’s provisions involves auto enrollment in employer 401(k) or 403(b) retirement […]