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Achieving financial freedom in retirement requires meticulous planning, dedicated effort, and strategic management. Without a solid plan, you risk drifting without direction. Within this framework, the concept of the five pillars of retirementplanning emerges as a valuable strategy.
By entering information about their deposit accounts into the EDIE tool, users can generate a report that provides information on how their deposits are insured, what portion (if any) exceeds coverage limits, and what steps they can take to maximize their insurancecoverage.
Starting Out clients are likely to be digitally-fluent, so putting this type of responsibility on them isn’t overly burdensome and can create major efficiencies in your planning processes. Holistic planning will be a valuable way for you to address this broad range of needs.
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What type of insurancecoverage do you have? Ongoing investments. Are you maxing out your 401k or other workplace retirementplan? Are you saving outside of retirement, like in a brokerage account or HSA? Base this number on the ideal lifestyle you created above. What’s your current tax bracket?
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