Wealth and Wellness with Lena and Claudia is back!
In this webinar, Claudia Glover and Lena Nebel dive into financial strategies that can help you kick off 2025 on the right foot. Claudia, an advisor and chair of the investment committee, and Lena, the president and COO of BFG, share their expertise on various financial topics including tax trends, financial wellness, budgeting, and rebalancing portfolios. This is a must-listen for anyone looking to fortify their financial planning for the coming year.
In this episode, Claudia and Lena switch gears from their previous focus on investments to broader financial planning strategies. They cover the following:
Financial trends and changes for 2025.
Importance of defining financial wellness and setting financial goals.
Addressing rising interest and mortgage rates and housing affordability.
Creative ways to diversify income sources.
Regular reassessment of finances and estate planning.
5 Key Takeaways:
Upcoming Tax Changes and Legislation: With several tax acts expiring and new legislation potentially coming into play with a new administration, being proactive about tax planning is crucial. Pay attention to the increased savings opportunities in retirement accounts and the new “super catch up” contributions for individuals aged 60-63 ([00:01:40]).
Setting Financial Goals and Wellness: Financial wellness goes beyond just allocating investments. It encompasses personal financial goals, debt reduction strategies, funding education, and having basic estate planning documents in place. Setting clear financial resolutions can help guide your financial decisions throughout the year ([00:05:24]).
Adapting to Housing Market Changes: The high interest rates and housing market fluctuations are making it harder for new buyers. It’s important to assess whether to buy now with the intent to refinance later or wait for potential rate drops. Consider all risks associated with each option ([00:14:00]).
Diversifying Income Sources: Side hustles and consulting gigs continue to be popular. Leveraging these opportunities while considering tax implications and possible insurance needs can provide additional financial stability and growth ([00:18:13]).
Importance of Regular Financial Review: Regular reassessment of your financial situation, including credit health, estate planning, and cash flow, is essential. Engaging in an annual strategy meeting with an advisor ensures that your finances are structured to meet your evolving goals and navigate external economic changes effectively ([00:20:56]).
Thank you for tuning in to this webinar! For more in-depth insights and to schedule a consultation with Claudia or Lena, please scan the QR code available on the BFG website. Don’t forget to mark your calendars for our next webinar focusing on insurance, providing an extensive overview of protecting yourself, your family, and your assets. See you next time!
