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So far Michigan Financial Planner has created 15 blog entries.

The Power of Saving for Retirement as a Young Adult

By |2023-10-05T10:19:30-04:00October 1st, 2023|CERTIFIED FINANCIAL PLANNER™, Retirement Planning|

If you’re like many young adults who’ve recently entered the workforce, you may view retirement as a distant dream. Regardless of how far away retirement may seem, the investments and financial choices you make early in your career may be more impactful on retirement savings than you think. And if you're worried about how much you'll have to contribute, this is all the more reason to start saving early - while time is on your side for compound returns and tax [...]

How Much Do I Need for Retirement?

By |2023-10-05T10:29:04-04:00September 30th, 2023|Retirement Planning|

A common question individuals have is, "How much do I need for retirement?" While there is no one-size-fits-all answer, some analysis and planning can help you lay the groundwork for your specific retirement goals. Personalizing Your Retirement Planning Asking yourself the following questions may help you estimate how much you need to save to live comfortably within your desired lifestyle. Do you want to travel frequently in retirement, which can be costly, or do you want to maintain your current lifestyle? [...]

Do I Need Life Insurance in Retirement?

By |2023-10-05T10:06:53-04:00September 22nd, 2023|Retirement Planning|

A common question retirees have is, “Do I need life insurance in retirement?” For many, the answer is no. However, just as you had your unique financial journey to retire, you’ll have your own journey throughout retirement to create a lasting legacy. That’s why you should consider your financial situation and goals before pulling the plug on your life insurance plan. Types of Life Insurance Typically, the purpose of life insurance is to cover any lost income when the policyholder passes [...]

Why Fiduciary Service Matters When Managing Your Wealth

By |2023-09-18T12:28:35-04:00September 18th, 2023|Rochester Financial Advisor|

Choosing the right financial planner can be a life-changing decision. When you partner with a CERTIFIED FINANCIAL PLANNER™ professional from Davis Capital Management, you can be confident knowing you have a highly trained professional who is committed to putting your interests first. Keep reading to learn more about partnering with a Fiduciary Financial Planner Near Rochester, MI. The Fiduciary Standard When it comes to managing your wealth, your financial relationships should be built on a foundation of trust, integrity and transparency. [...]

Budgeting Tips to Help Organize and Manage Spending

By |2023-09-18T12:26:33-04:00September 10th, 2023|financial planning|

A budget is key to understanding and managing your finances. It can help you determine where your funds are going and if those allocations align with your short and long-term goals. If you’re new to budgeting or simply looking to improve your spending habits, these tips can help lay the foundation of solid money management. 1. Budget Variance Analysis One tried and true method used in business accounting is called a Budget vs. Actual report or budget variance analysis. Since businesses [...]

Choosing the Right Financial Advisor for Your Needs and Goals

By |2023-09-10T15:45:23-04:00August 30th, 2023|CERTIFIED FINANCIAL PLANNER™, financial planning|

Choosing a Financial Advisor Near Rochester, MI If you’re in need of financial guidance, you’re not alone. Many Americans incur costs, like fees or tax penalties, due to a lack of financial knowledge. Partnering with a financial advisor can help you manage those costs and can help provide you with the tools to build a path to your long-term financial goals. Just like your financial situation is unique to you, the services financial planners offer can vary based on their education, [...]

Is Debt Doing a Number on your Savings? 3 Methods to Pay Off Debt Faster

By |2023-08-16T11:40:57-04:00August 16th, 2023|Debt Management|

Debt can leave you feeling overwhelmed and put a wrench in the best-laid saving plans. But that debt doesn’t need to hang over your head forever. By strategically focusing on these 3 ways to pay off debt faster, you can create an actionable plan that aligns with your financial goals. Strategies for eliminating debt aren’t always one size fits all. Borrowers should consider which methods align with their financial situation, including the amount of debt they hold, their credit history, and [...]

Looking for a Financial Planner for Retirement Near Rochester Hills?

By |2023-08-10T20:55:10-04:00August 10th, 2023|Rochester Hills Financial Planner|

If you're having trouble making heads or tails of your retirement, we can help take the guesswork out of financial planning. When you partner with Davis Capital Management, you’ll have a highly-experienced CERTIFIED FINANCIAL PLANNER™ to help you navigate a broad spectrum of financial processes and help you lay the foundation of a strong financial future. Why Work with a Financial Planner for Retirement? Make the Most of Your Retirement Red Zone The retirement red zone refers to the five years [...]

CERTIFIED FINANCIAL PLANNER™ in Shelby Twp., Davis Capital Management

By |2023-08-10T21:27:58-04:00August 8th, 2023|financial planning|

If planning your financial future has you overwhelmed with decisions, you’ve probably considered partnering with a professional. Not all financial designations are created equal. There are rigorous certification programs, and there are some designation-granting programs that can be completed in less than a week. In order to provide a high level of service, Davis Capital Management in Shelby Twp, MI is a CERTIFIED FINANCIAL PLANNER™ (CFP®) with advanced levels of education. Here’s why a  CERTIFIED FINANCIAL PLANNER™ is recognized with high [...]

What to Know About In-Service Withdrawal Rules for 401(k) Plans

By |2023-08-08T17:22:58-04:00July 24th, 2023|Retirement Planning|

It can be tempting to use your 401(k) to cover costs from unexpected life events. However, withdrawing funds early from your 401(k) plan can lead to penalties or tax consequences if withdrawn before age 59 and ½. Understanding the in-service withdrawal rules for 401(k) plans can help prevent year-end surprises and give you the confidence to make a well-informed financial decision when needed most. Tax Implications to Know Funds generally grow tax-free in 401(k) plans until the money is withdrawn, typically [...]

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