facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog external search brokercheck brokercheck Play Pause
Details Matter: Helping Henry and Veronica Maximize their Tax and Retirement Savings Thumbnail

Details Matter: Helping Henry and Veronica Maximize their Tax and Retirement Savings

Investing Retirement Funding Tax Planning

Introduction

Through our "Details Matter" planning process, the professionals at Claro Advisors will help solve your financial problems and make your retirement dream a reality.  When you work with us, you can expect to receive a plan that lowers your tax obligations and protects your nest egg while maximizing your retirement income. As experienced advisors and fiduciaries, we are always committed to putting our client's needs first. Below is an example of how we recently helped our clients.

Meet Henry and Veronica

  • Ages: 45/41
  • Income: Over $1mm, self-employed
  • Assets: $2,000,000

Primary Concerns

  1. They were paying nearly 50% of their income to taxes.  They wanted ways to reduce their taxable income and minimize their tax obligations.
  2. Their investment returns were being eroded by taxes.  They wanted to minimize their 1099-Div Tax Form tax implications and maximize after tax returns.
  3. They wanted a low-cost investment strategy that generated attractive returns without exposing their portfolio to extreme market declines.
  4. They wanted to have the flexibility to retire early and wanted ideas to maximize retirement savings

Solutions/Results

  1. We helped them redirect their savings to the most tax-efficient savings vehicles - reducing their fees in the process. 
  2. We also helped them allocate to more suitable growth investments, which included a layer of downside protection so their plan wouldn’t derail in a market correction.
  3. We significantly reduced their 1099 tax liabilities while implementing an ongoing tax-loss harvesting strategy to offset future taxable gains.
  4.  We established a liquid account that would provide a significantly higher after-tax yield than their current bank savings.
  5. We worked with their CPA to implement a customized retirement plan design that allowed them accelerate their retirement savings while lowering their taxes. This strategy saved them over $100,000 per year in taxes while allowing them to put away over $200,000 in tax-deferred accounts. 

Schedule a Meeting