Finding Gratitude This Thanksgiving Season

By Jeff Gilbert

At Balboa Wealth Partners, we have much to be thankful for this Thanksgiving season. While our work often centers on financial planning and future stability, this time of year invites us to pause and appreciate the many non-financial blessings that enrich our lives. In this article, we explore three key expressions of gratitude that extend beyond money, helping you cultivate deeper joy, balance, and fulfillment as you move toward retirement.

Health & Well-being

One of the most precious assets we often take for granted is our health. Without good health, financial stability alone cannot guarantee a fulfilling retirement. This Thanksgiving, we encourage you to reflect on the following:

Healthcare Coverage

Having access to quality healthcare and reliable insurance coverage is paramount. Medicare plays a significant role in healthcare for retirees, so it’s important to understand how it works and what it covers. Take the time to review your healthcare plans, including long-term care, and consider how you can optimize your coverage to feel confident in your well-being during retirement.

Healthy Lifestyle 

Maintaining a healthy lifestyle can help you enjoy your retirement to the fullest. Regular exercise, a balanced diet, and stress management are all factors that contribute to overall health. Consider investing in preventive healthcare measures and wellness programs to safeguard your well-being in retirement.

Family and Relationships

Your family and close relationships are vital to your emotional health. Spend quality time with loved ones this Thanksgiving and express your gratitude for their support. As you plan for retirement, think about how you can cultivate meaningful connections and social engagement to keep your emotional well-being intact.

Life Experiences and Personal Growth

Retirement isn’t just about relaxing; it’s an opportunity to explore new interests and experiences. Here are some aspects to consider:

Travel

Many retirees look forward to traveling during retirement. Whether it’s exploring new destinations, experiencing different cultures, or embarking on adventures, travel can provide valuable experiences and memories. Start planning your retirement travel bucket list and budget accordingly.

Hobbies and Passions

Retirement allows you to invest more time in hobbies and interests that bring you joy. Whether it’s painting, playing an instrument, gardening, or volunteering, explore new activities or rekindle old passions to enrich your life during retirement.

Continued Learning

Retirement doesn’t mean the end of learning. Consider taking courses, attending workshops, or pursuing further education in areas that interest you. Lifelong learning not only keeps your mind sharp but also adds depth to your retirement years.

Community and Giving Back

Gratitude often finds its most profound expression when we give back to our communities. Here’s how you can incorporate this theme into your retirement planning:

Volunteer Work

Retirement offers you more time to give back to causes and organizations that matter to you. Identify volunteer opportunities in your area or consider starting a charitable initiative that aligns with your values.

Mentorship and Guidance

Your years of experience and knowledge can benefit others. Consider mentoring younger individuals in your field to pass on your insights and help them avoid common mistakes. Mentorship is also an excellent way to stay engaged, expand your professional network, and gain fresh perspectives from the next generation.

Legacy Planning

Think about the legacy you want to leave behind. Estate planning and charitable giving can be a powerful way to support causes you care about while leaving a lasting impact on future generations.

Embracing the Future With Gratitude

As we gather in gratitude this Thanksgiving, we’re reminded that true wealth goes far beyond dollars and cents. While financial stability is a prerequisite to a comfortable retirement, the most fulfilling retirements are built on more than just a solid portfolio; they’re enriched by good health, meaningful experiences, and the joy of giving back.

This season, we invite you to reflect on what brings you lasting fulfillment and to nurture the areas of your life money can’t buy.

From all of us at Balboa Wealth Partners, Happy Thanksgiving! May your retirement and your days ahead be filled with gratitude, vitality, and joy. If we can support you in planning a more balanced and meaningful future, we’d love to connect. Give me a call at 949-445-1465 or email me at jgilbert@balboawealth.com.

Scottsdale office: 480-801-5010, info@balboawealth.com

About Jeff

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic financial management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Jeff and Balboa work with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com. 

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

State Tax Migration Strategies: When Moving Makes Financial Sense

In recent years, more affluent families have been relocating from high-tax states to those with lower taxes. This shift represents more than a simple change of address; it's a comprehensive wealth management strategy that requires careful orchestration of tax planning, legal compliance, and lifestyle considerations to truly make financial sense.

However, the allure of immediate tax savings can overshadow critical factors that determine whether relocation truly enhances long-term financial outcomes. From residency establishment requirements to estate planning implications, successful tax migration demands a holistic approach that goes beyond comparing tax rates. The most effective relocations align tax benefits with broader wealth preservation goals while ensuring the move enhances rather than compromises quality of life.

Determining Whether Relocation Makes Financial Sense

One major reason families consider tax migration is the opportunity for meaningful savings on state taxes. States like Florida, Texas, and Nevada charge no state income tax, which can reduce yearly obligations, while property and estate taxes also differ widely, influencing long-term wealth accumulation and investment decisions. Evaluating both potential savings and additional costs, such as housing or living expenses, helps families make informed relocation choices.

Tax laws can change quickly, meaning current advantages might not persist in the future. Staying aware of legislative developments in both the current and prospective states ensures that relocation strategies continue to make financial sense. Regularly reviewing policies and conducting a thorough cost-benefit analysis provides confidence that financial and long-term wealth goals remain aligned.

financial sense

Assessing Residency and Compliance Requirements

Establishing residency in a new state involves meeting legal requirements beyond simply moving belongings. Updating voter registration, obtaining a local driver’s license, and maintaining sufficient physical presence are essential steps. Following these procedures carefully ensures the move qualifies for state tax purposes without unexpected complications.

Failing to establish residency correctly can trigger dual-state taxation, creating financial exposure and administrative challenges. Consulting legal and tax professionals helps navigate these complexities and reduces the likelihood of disputes or penalties. Expert guidance ensures all residency requirements are met efficiently and accurately.

Some states enforce exit taxes or capital gains on property sales, affecting the overall financial advantage of relocating. Evaluating these rules in advance clarifies the true economic benefit and helps determine whether the move makes financial sense. Understanding state-specific tax nuances allows for strategic planning that maximizes savings while maintaining compliance.

Integrating Lifestyle and Family Considerations

Tax benefits alone should not drive relocation; family needs and lifestyle expectations significantly influence long-term satisfaction. Considering elements early ensures the move strengthens family stability while supporting financial objectives and makes financial sense. Key lifestyle and family factors to evaluate include:

  • Access to quality healthcare, schools, and career opportunities for personal and family growth.
  • Availability of cultural amenities, recreational options, and community engagement that align with personal values.
  • Proximity to relatives and social networks to maintain strong support systems and meaningful connections.

Balancing monetary advantages with everyday living considerations promotes both happiness and sustainable wealth outcomes. Prioritizing lifestyle elements prevents costly regrets and increases overall relocation satisfaction.

Adapting Estate Plans to New State Laws

State estate laws contain nuanced rules affecting wealth transfer timing, asset protection, and taxation. Relocating requires reviewing how these regulations interact with existing trusts, retirement accounts, and business interests to ensure decisions make financial sense. Updating documents before the move reduces the risk of unexpected probate complications or tax exposures.

financial sense

Community property statutes in certain states can change ownership rights, influencing spousal or beneficiary allocations. Additionally, differences in estate and inheritance taxes can affect the total wealth passed to heirs if not strategically managed.

Collaborating with estate planning professionals familiar with both current and new state systems ensures all documents remain valid and enforceable. Experts guide families through complex legal considerations, reducing potential disputes and tax consequences. Proactively coordinating these updates safeguards long-term wealth and aligns estate plans with broader relocation objectives.

Long-Term Planning for Sustainable Wealth Preservation That Makes Financial Sense

Relocating for tax advantages should be considered part of a broader, long-term wealth preservation strategy. Evaluating how the move aligns with retirement planning, investment strategies, and legacy goals ensures clarity. Regularly adjusting financial plans based on tax law changes, market conditions, and personal circumstances safeguards intended outcomes.

Incorporating tax-efficient investment strategies alongside diversified portfolios enhances both growth potential and financial stability. Monitoring these strategies over time ensures that relocation decisions continue supporting long-term objectives effectively. If you're evaluating whether relocating makes financial sense for your long-term goals, I can guide you through the tax, estate, and lifestyle considerations. Let's ensure your decision is strategic, not just reactive.

​​ABOUT JEFF

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic wealth management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Arizona, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com.

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

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Private Credit: The New Alternative Asset Class for High-Net-Worth Investors

Affluent investors increasingly look to private credit for access to institutional-level opportunities that enhance wealth strategies. Beyond attractive yields, it supports income approaches aligned with complex liquidity needs and multi-generational priorities. Its greatest strength comes from complementing traditional assets while reinforcing stability across shifting economic and market environments.

Why Private Credit Is Gaining Ground

Institutional demand for private credit continues to expand, with US private credit markets growing from about $46 billion in 2000 to nearly $1 trillion by 2023, according to the Boston Federal Reserve. This trajectory highlights the rising appetite for strategies that generate steady, risk-adjusted income in changing conditions. For high-net-worth investors, the expansion signals growing confidence in an asset class once considered highly specialized.

private credit

For high-net-worth individuals, this trajectory represents more than market growth; it signals democratization of sophisticated lending strategies once exclusive to pensions, endowments, and sovereign wealth funds. Direct lending, mezzanine financing, and distressed debt each offer distinct risk-return profiles, but all require disciplined evaluation and careful manager selection.

Superior Yields with Reduced Market Correlation

Private credit's appeal extends beyond yield enhancement. Unlike traditional fixed-income instruments, private lending structures often show lower correlation with public market volatility, creating income streams that persist through economic stress and market disruption.

This independence proves especially valuable for retirees seeking stable distributions, entrepreneurs managing liquidity events, or families funding philanthropic initiatives. Business owners find predictable returns particularly useful during succession planning or capital expansion phases, where cash flow certainty supports strategic decision-making.

The underlying mechanics reinforce this stability: lending structures typically secure terms against tangible, high-quality assets, providing downside protection while enabling participation in economic recoveries.

​Strategic Integration Maximizes Portfolio Benefits

Private credit achieves its greatest impact when thoughtfully integrated into comprehensive wealth planning. Rather than functioning as a standalone investment, it works best as part of a coordinated strategy that addresses current income needs while advancing long-term legacy objectives.

Planning considerations must encompass tax treatment, estate implications, and correlations with existing holdings. Within this framework, private credit serves dual purposes: providing portfolio stabilization during volatile periods while contributing to wealth accumulation across generations.

Manager Selection: The Critical Success Factor

Attractive yields mean little without proper execution. Manager quality often determines whether private credit delivers consistent results or encounters avoidable setbacks. Key evaluation criteria include:

  • Underwriting standards and borrower quality assessment
  • Track record through complete credit cycles, particularly downturns
  • Fee transparency and alignment of manager capital with investor interests
  • Operational infrastructure and risk management capabilities

A manager's ability to preserve capital during challenging periods often proves more revealing than performance in favorable conditions. This discipline separates sustainable performers from those benefiting primarily from accommodating market environments.

Integrating Private Credit into Wealth Planning

The rise of private credit reflects evolving investor demands for strategies that balance wealth preservation with growth objectives. As institutional-quality access becomes increasingly available to individual investors, private credit appears positioned for a lasting role in diversified portfolio construction.

The asset class addresses fundamental investor needs: consistent income generation, reduced correlation with traditional markets, and participation in lending opportunities historically reserved for large institutions. These characteristics suggest private credit will continue expanding beyond its current trillion-dollar footprint.

If you're considering whether private credit belongs in your investment mix, I'd be glad to walk you through the potential benefits and trade-offs. Together, we can explore how it might strengthen your overall financial strategy.

​​ABOUT JEFF

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic wealth management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Arizona, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com.

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

Why Traditional Wealth Planning Might Hold You Back in Today’s Economy

​Wealth planning is fundamental to securing your financial future. However, many traditional approaches fail to address today’s economic complexities. For instance, inflation, fluctuating interest rates, and volatile markets constantly challenge static financial plans. Without adapting to these realities, wealth planning risks limiting your growth and resilience.

Adopting a more flexible and proactive approach allows investors to better navigate uncertainty. By incorporating active portfolio management, diverse asset classes, and technology-driven insights, investors create opportunities to protect and grow wealth. Join me as I explore why conventional methods may no longer be sufficient and how adaptive strategies can empower your financial security.

Inflation and Interest Rate Impacts on Wealth Planning

Inflation steadily erodes purchasing power and can dramatically reduce real investment returns over time. Unfortunately, traditional planning often underestimates this risk by relying heavily on fixed-income or cash allocations that fail to keep pace with rising prices. As a result, ignoring inflation’s impact threatens long-term wealth preservation.

Interest rate fluctuations add complexity, making it harder for investors to maintain stable portfolio income and growth. Rising interest rates usually cause bond prices to fall, which can reduce income and overall portfolio stability. Since static plans seldom adjust for changing rate environments, investors risk avoidable losses over time.

Understanding how inflation and interest rates interact is essential for modern wealth planning. Key considerations include:

  • Increasing allocations to inflation-resistant assets
  • Reviewing bond durations to minimize interest rate risk
  • Adjusting income and withdrawal assumptions accordingly

According to recent research from McKinsey & Company, active management and scenario planning are critical to navigating these macroeconomic factors. Wealth planning that embraces flexibility around inflation and rates is, therefore, better positioned to protect purchasing power and sustain growth.

wealth planning

Moving Beyond “Set-and-Forget” Portfolios

Many investors rely on portfolios established years ago, which are reviewed infrequently and seldom updated. Consequently, this “set-and-forget” mentality assumes market conditions remain stable, which is rarely the case. Without ongoing oversight, portfolios risk becoming outdated and misaligned with evolving goals and risks.

Active portfolio management involves continual monitoring and tactical adjustments based on market signals. Using technology platforms that provide real-time analytics and scenario testing enables investors and advisors to respond swiftly to changing environments. The global portfolio management software market is projected to grow from USD 4.13 billion in 2024 to USD 9.37 billion by 2033, reflecting a compound annual growth rate (CAGR) of 9.52% .

Furthermore, active oversight enables risk management tailored to individual circumstances. Whether adjusting allocations or reallocating gains, this dynamic approach ensures portfolios remain aligned with clients’ wealth planning objectives over time. Therefore, transitioning away from static plans toward continuous stewardship can significantly enhance long-term outcomes.

Incorporating Alternative Assets for Diversification and Inflation Hedging

Traditional wealth planning focuses mainly on stocks, bonds, and cash, which might not protect well against inflation. Alternative assets like real estate, commodities, private equity, and hedge funds offer significant diversification benefits. These alternatives also serve as effective hedges against inflation and market downturns.

Some advantages of including alternative investments in financial planning include:

  • Lower correlation with traditional markets, reducing overall portfolio volatility
  • Income streams often linked to inflation preserve purchasing power
  • Potential access to unique growth opportunities that are unavailable in public markets

Real assets often maintain value during inflationary periods, which helps support long-term capital preservation and stability. Additionally, private equity and hedge funds provide downside protection through active management and lower sensitivity to market swings. These alternatives contribute to a diversified portfolio that balances risk while pursuing growth in uncertain economic times.

As a result, this diversification strategy helps portfolios weather economic storms and adapt to shifting market conditions effectively. Incorporating alternative assets aligns financial planning with today’s market realities and evolving investor needs. Ultimately, a flexible approach strengthens financial resilience and supports long-term goals.

Adjusting Withdrawal Strategies to Preserve Principal During Downturns

Withdrawal strategies are essential for retirees and income-dependent investors to maintain and sustain their long-term wealth. Fixed withdrawal rates can quickly deplete principal during market downturns, threatening future financial security. Effectual approaches that adjust withdrawals based on market conditions help protect portfolios and extend retirement income. Examples include:

  • Dynamic spending rules that reduce withdrawals during downturns
  • Bucket strategies separating short-term liquidity from long-term investments
  • Tax-efficient withdrawal sequencing to minimize tax impact
wealth planning

Leveraging Technology for Real-Time Portfolio Adjustments and Scenario Planning

Technology has transformed financial planning by providing real-time portfolio visibility and advanced modeling capabilities for investors. It can simulate “what-if” scenarios, stress test portfolios, and analyze income projections under varying conditions. These tools offer a deeper understanding of potential outcomes and enhance strategic decision-making.

Interactive dashboards and AI-powered analytics improve decision-making speed and accuracy, enabling investors to adapt their plans as market conditions change. This dynamic approach builds confidence by continuously aligning strategies with evolving financial realities.

Ultimately, integrating advanced technology enables proactive wealth planning that aligns with long-term goals while adapting to new challenges and economic shifts. This approach fosters financial resilience and supports sustained growth amid constant change.

Rethinking Wealth Planning: Embrace Adaptability to Secure Your Financial Future

Traditional planning methods are no longer efficient in today’s complex economy. They inevitably leave investors vulnerable to inflation and market volatility. Embracing an adaptive approach is essential to protect purchasing power while enabling sustainable growth over time.

By incorporating active portfolio management, alternative asset diversification, and technology-driven insights, you can create a resilient financial framework.

If you are considering how to make your plan more flexible or simply want to understand how these strategies could fit your goals, I’m here to help. Let’s develop a personalized approach that honors where you are today while preparing you for tomorrow’s opportunities.

​ABOUT JEFF

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic wealth management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Arizona, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com.

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

The Top 4 College Planning Mistakes and How to Avoid Them

By Jeff Gilbert

When you first held your child, did you dream about all the milestones they’d reach, perhaps even seeing them attend a top-tier college that sets the stage for their career? Most parents would say yes, but few fully understand the true cost of making that dream a reality. Even if you’ve started saving, do you have a complete strategy for the entire college planning process?

Many families have regrets due to common college planning mistakes. Here are four of the most frequent mistakes to keep in mind as you prepare to help your child embark on their higher education journey.

1. Starting the Planning Process Too Late

When a college education in the U.S. can cost upwards of $360,000 for an undergraduate degree at a top school and over $11,600 each year for in-state tuition alone at a public institution, it’s a good idea to start saving for your child’s education as early as possible. 

And unfortunately, good intentions often won’t cut it. Parents might plan to take care of a portion or even all the college costs for their kids, but with competing financial goals like retirement planning and paying off a mortgage, it can be challenging to meet that commitment. The earlier you start planning, the easier it will be to accommodate multiple financial goals, and the more likely you will be to succeed.

In terms of other aspects of college planning, such as scholarship research, college visits, testing, career exploration, and crafting applications, you don’t want to run out of time or make decisions in a rush. You won’t regret starting too early, but you could very well regret winging it at the last minute.

2. Missing Financial Aid Deadlines

Most colleges require financial aid forms to be submitted by the beginning or middle of February, but that doesn’t mean you have to wait that long to submit them. Even if you don’t have all your tax information for the previous year, use estimates and amend amounts later. Some schools and states award financial aid on a first-come, first-served basis until it runs out, so apply for aid as soon as possible after January 1st. It could save you a big chunk of change. 

3. Not Having a Career Game Plan

While you shouldn’t expect your teenager to know exactly what they want to do with the rest of their life, you can help them examine and explore different majors and career options. Work with your child to brainstorm their interests and skills and, instead of just picking colleges based on location or reputation, do the legwork to find colleges that will help your child succeed in their future career. 

That could mean looking at schools that specialize in certain fields or ones that help students get internships or mentorships. If your child is unsure of what they want to do, make sure you pick a college that offers a variety of majors and has opportunities for students to switch majors without adding years to their education. With the rising costs of tuition, you want to maximize what your child is getting out of their college years. 

4. Neglecting to Enlist Professional Support to Avoid College Planning Mistakes

College planning is complex and layered. Even if you’ve made a start, there are plenty of hidden pitfalls and opportunities that could either slow you down or give you an edge. No matter where you are in the journey, partnering with a professional with experience in college planning can help you avoid costly college planning mistakes, optimize your resources, and simplify the process.

If you want to steer clear of the most common pitfalls families face, we’d love to help. Give me a call at 949-445-1465 or email me at jgilbert@balboawealth.com.

Scottsdale office: 480-801-5010, info@balboawealth.com

About Jeff

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic financial management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Jeff and Balboa work with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com. 

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

Wealth Building Strategies for Post-Exit Entrepreneurs

Post-sale capital presents a rare inflection point for entrepreneurs seeking to amplify wealth building with discipline and foresight. The liquidity from an exit creates a unique chance to transition from business founder into strategic, diversified investor. By making intentional decisions early, entrepreneurs can establish a foundation for enduring financial security and sustainable long-term growth.

Wealth building after an exit extends far beyond selecting assets with the highest potential returns in the current market. It demands precise alignment of capital with personal objectives, strategic risk mitigation, and preservation of accessible liquidity reserves. Through a well-structured, forward-looking plan, you can safeguard your windfall while creating opportunities for multi-generational impact and legacy development.

Structuring Proceeds for Long-Term Wealth Building, Stability, and Growth

Entrepreneurs should allocate sale proceeds strategically across liquidity, growth, and legacy goals to ensure stability and sustained financial health. Although maintaining large cash reserves appears safe, inflation can gradually erode purchasing power and diminish long-term wealth. Therefore, segmenting capital into accessible reserves, diversified core investments, and legacy vehicles creates a balanced foundation for multiple financial objectives.

In addition, trusts, family partnerships, and charitable structures offer tax-aware methods for redistributing capital while protecting it from unnecessary liabilities. For instance, certain trust structures can defer or significantly reduce taxable transfers, preserving wealth for future generations.

Liquid assets placed in lower-volatility instruments allow quick response to market opportunities without compromising the integrity of your core wealth building portfolio. Similarly, accessible reserves provide flexibility during economic shifts or unexpected personal financial needs. Consequently, this approach safeguards stability while enabling proactive participation in new ventures and evolving market conditions.

wealth building

Diversifying Beyond Your Industry for Resilience

Concentrating post-exit investments in your former sector may feel comfortable, yet it significantly increases exposure to industry-specific risks. Diversifying across asset classes, geographic markets, and sectors promotes resilience through varying economic and market conditions. Balanced portfolios blending equities, fixed income, real assets, and alternatives generally demonstrate stronger stability during periods of heightened market volatility.

Global exposure further mitigates the impact of domestic economic slowdowns by tapping into growth opportunities from multiple regions. Entrepreneurs can explore emerging industries such as renewable energy, biotechnology, or infrastructure, each offering unique long-term expansion potential. Investing in these areas introduces uncorrelated returns that strengthen portfolio performance and enhance resilience during cyclical downturns.

By actively exploring sectors aligned with future mega-trends, entrepreneurs increase their adaptability to evolving global markets and technological innovations. Such forward-looking diversification creates a more dynamic portfolio while protecting against sudden industry disruptions or sector-specific declines. Ultimately, post-exit wealth building becomes more secure and opportunistic when supported by strategic diversification beyond familiar business landscapes.

Using Tax-Efficient Vehicles to Preserve Capital

Taxes can meaningfully erode capital growth if left unmanaged, making proactive tax planning a crucial element of long-term wealth preservation. Utilizing municipal bonds, tax-managed funds, and qualified opportunity zones helps protect net returns while allowing the portfolio to remain growth-oriented. Balancing taxable, tax-deferred, and tax-free accounts provides flexibility and efficiency that strengthen wealth building strategies over time.

Combining Roth and traditional retirement accounts enables investors to strategically schedule withdrawals based on anticipated tax obligations. Tax-loss harvesting, a technique where investment losses offset capital gains, further reduces taxable income and improves overall portfolio efficiency. Consistent application of these tactics can materially increase after-tax returns across extended investment horizons.

Tax efficiency remains a priority in high-net-worth portfolio design, influencing security selection, asset allocation, and rebalancing strategies. Advisors now integrate tax-aware methods into each stage of the investment process, ensuring portfolios are built with both growth and preservation in mind. This intentional approach safeguards capital while aligning portfolio performance with an investor’s evolving goals and financial priorities.

Wealth Building Approaches to Creating Reliable Income for Your Next Venture

Without dependable business cash flow after an exit, creating reliable income streams becomes critical to sustaining lifestyle and funding opportunities. Dividend-paying equities, fixed-income ladders, and income-producing real estate can provide predictable cash flow while preserving overall portfolio health. Balancing income generation with long-term growth objectives ensures both stability and adaptability across shifting market environments.

Allocating capital with a “core and satellite” approach supports wealth building by meeting ongoing expenses while pursuing higher-growth, calculated-risk opportunities. The core segment delivers consistent income, while satellites focus on strategic ventures designed to enhance overall portfolio performance. This structure supports disciplined decision-making and safeguards against the risks of overconcentration in a single investment area.

Maintaining an annual withdrawal guideline, preserves capital during market lows and prevents over-spending during good years. This method enforces spending discipline while aligning withdrawals with sustainable portfolio performance over the long term. Consistently applying this approach helps preserve wealth and support both immediate needs and future financial aspirations.

Refreshing Estate and Legacy Planning Thoughtfully

A liquidity event creates the perfect opportunity to reevaluate estate documents and legal structures for accuracy and effectiveness. Updated wills, trusts, and beneficiary designations should fully reflect your new asset composition and evolving family priorities. Thoughtfully applied planning tools help minimize potential estate taxes while streamlining the intergenerational transfer of wealth.

Educating heirs on financial stewardship, decision-making governance, and shared family values fosters stronger legacy preservation across multiple generations. Organizing structured family governance meetings ensures open communication, role clarity, and alignment on long-term objectives. Such proactive engagement reduces future disputes and keeps the family’s wealth strategy intact over decades.

Embedding philanthropic goals through donor-advised funds or charitable trusts integrates purpose directly into wealth building and financial planning. These vehicles enable meaningful impact while safeguarding favorable tax treatment for both the estate and its beneficiaries. Incorporating charitable strategies early ensures your wealth supports causes you value without disrupting overall financial stability.

From Exit to Enduring Impact

A successful business exit is not just the closing chapter of one venture—it’s the opening act of your next great wealth journey. With disciplined allocation, intentional diversification, proactive tax strategies, and a clear legacy plan, you can transform a one-time liquidity event into a lifelong engine for security, growth, and impact. The decisions you make in the first months and years post-sale will shape not only your financial future but also the opportunities you create for generations to come.

If you’ve recently sold—or are preparing to sell—your business, now is the moment to design a wealth strategy that works as hard as you did to earn it. Let’s collaborate to build a personalized, tax-efficient, and future-proof plan that preserves your capital, funds your next ventures, and honors your long-term vision. Reach out today to begin transforming your post-exit proceeds into a lasting legacy.

​ABOUT JEFF

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic wealth management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Arizona, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com.

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

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Outdated Estate Planning Checklist: Here’s What to Review Every 3 Years

​Estate planning is not a one-time task but an ongoing process requiring regular attention. A practical estate planning checklist helps ensure legal and financial documents stay aligned with your evolving life circumstances. As relationships, tax laws, and economic conditions change, your estate plan must adapt. In this article, I provide a clear checklist of key areas to review regularly to keep your estate plan both relevant and effective.

Maintaining Your Estate Plan: A Strategic 3-Year Review Process

Regular estate plan reviews are essential to protecting your financial legacy and ensuring your plan remains legally sound. These steps will help you protect your wealth, support your loved ones, and confirm your wishes remain clear.

1. Update Beneficiary Designations to Reflect Current Relationships and Wishes

Beneficiary designations on retirement accounts, life insurance policies, and payable-on-death accounts often override wills and trusts. Therefore, verifying these designations regularly is crucial to reflect your current relationships and intentions. Major life events such as marriage, divorce, births, or deaths should trigger immediate updates.

Common beneficiary accounts to review include:

  • Retirement plans (401(k), IRAs)
  • Life insurance policies
  • Payable-on-death (POD) bank accounts
  • Transfer-on-death (TOD) securities accounts

Incorrect or outdated beneficiary designations can cause assets to pass to unintended heirs or create disputes. Many people overlook this step because beneficiary updates are separate from other estate planning documents, yet they are equally important. Ensuring these align with your broader estate distribution plan is a crucial part of your estate planning checklist and can prevent legal challenges later.

Moreover, regular beneficiary updates support tax-efficient wealth transfer strategies. For instance, naming a trust or charitable entity as a beneficiary can optimize tax outcomes.

Estate Planning Checklist

2. Review Powers of Attorney for Healthcare and Financial Decisions

Powers of attorney (POA) authorize trusted individuals to make decisions if you become incapacitated. Reviewing these documents every few years ensures that appointed agents remain appropriate and willing to serve. Furthermore, changes in relationships, health, or personal circumstances may require appointing new agents.

Two main types of POA documents should be reviewed:

  • Healthcare power of attorney: guides medical decision-making
  • Financial power of attorney: manages financial affairs like bill payments and investments

Confirming that agents understand their responsibilities and are prepared to act avoids confusion during critical moments. Significantly, review the scope and language of POAs to ensure they remain valid under current laws. Regulations governing POAs can evolve, potentially affecting their enforceability.

Seeking advice from experienced fiduciaries or estate planning professionals can help maintain document effectiveness. Keeping these authorizations current is an essential step in your estate planning checklist and supports smooth management without court involvement if incapacity occurs.

3. Ensure Trusts Are Funded Correctly

Trusts serve as powerful tools for managing asset distribution, minimizing taxes, and protecting beneficiaries. However, their effectiveness depends on proper funding and alignment with your goals. Conducting a thorough trust review every three years is a vital part of your estate planning checklist to verify that assets are appropriately titled and transferred into trusts.

Unfunded or improperly funded trusts might fail to avoid probate or deliver intended protections. Life events such as births, deaths, or financial changes often necessitate amendments to trust provisions. Confirming that trusts reflect current intentions, including philanthropic goals, helps prevent unintended consequences.

4. Verify Asset Titling Aligns With Your Estate Distribution Plan

How assets are titled directly affects their transfer at death or incapacity. Reviewing asset ownership and titling every few years will ensure alignment with your estate distribution strategy. Misaligned titling can result in assets bypassing your plan or triggering tax inefficiencies and family disputes.

Examples of common titling issues include:

  • Property held in joint tenancy passing automatically to the surviving owner
  • Individually titled assets requiring probate to transfer
  • Accounts with outdated or missing beneficiary designations

Ensuring all asset titles correspond with your intended plan optimizes transfer efficiency and reduces legal complications. Moreover, business owners should pay particular attention to ownership structures within their estate plan. Succession planning, valuation, and liquidity events can significantly impact titling and tax planning.

Aligning asset ownership with your estate plan is an essential part of your estate planning checklist. It promotes continuity by ensuring assets transfer according to your wishes without unnecessary delays or disputes. Proper alignment also protects your legacy goals and supports your family’s long-term financial security.

estate planning checklist

5. Reevaluate Charitable Giving Plans and Philanthropic Structures

Philanthropic goals often evolve alongside personal values and financial circumstances. Reviewing charitable giving strategies, donor-advised funds, and foundation structures every three years ensures your plan maximizes impact and tax benefits. Milestones or changes in tax laws may require adjustments to giving approaches.

Families focused on legacy and impact benefit from aligning charitable plans with their estate objectives. Specifically, incorporating charitable trusts or updating donor-advised fund beneficiaries is a key part of your estate planning checklist and can enhance both wealth transfer and philanthropy. Regular evaluations support balancing wealth preservation with meaningful giving.

Industry trends show a rising interest in integrating philanthropy within overall wealth management frameworks. This reflects growing client desire to connect legacy planning with purposeful impact. Reassessing these plans helps keep giving aligned with evolving passions and goals.

A Living Document: Your Estate Planning Checklist for Ongoing Peace of Mind

Viewing your estate plan as a living document empowers you to secure your financial future while preserving your values. Consistent updates help you respond effectively to life changes and shifting market realities, reducing the risk of costly disputes and probate delays.

​If it’s been more than three years since you last reviewed your estate plan, or if life changes have reshaped your priorities, now is the time to act. Let’s work together to create a plan that reflects your current vision, closes potential gaps, and turns your estate strategy into a powerful, future-proof asset.

​ABOUT JEFF

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic wealth management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Arizona, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com.

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

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Estate Planning Mistakes: 5 Blunders Even Successful Families Make

Wealth alone doesn’t guarantee a smooth transfer of assets—or peace of mind for the next generation. Even families with significant resources and experienced advisors can fall victim to costly estate planning mistakes. Overlooked details, outdated documents, or misplaced assumptions can lead to unnecessary taxes, legal disputes, and the erosion of a carefully built legacy.

The truth is, estate planning is not a “set it and forget it” process. It requires ongoing attention, clear communication, and strategic foresight to keep your plan aligned with evolving laws, assets, and family dynamics. In this article, I uncover five common blunders, even among financially sophisticated families, that can jeopardize wealth preservation and disrupt long-term goals, along with steps you can take to avoid them.

​The Five Critical Estate Planning Mistakes That Can Derail Your Financial Legacy

Estate planning requires more than good intentions; it demands strategic, proactive management to protect your family’s future.

1. Overlooking Document Updates After Major Life Events

A frequent estate planning mistake involves failing to update legal documents after significant life milestones. For example, marriage, divorce, births, or deaths can dramatically change family dynamics and financial needs. Ignoring these events means that wills, trusts, or beneficiary designations may no longer reflect current intentions.

Additionally, changes in tax laws or asset values often lead to estate planning mistakes if not addressed promptly for optimal protection and tax efficiency. For instance, the addition of a new grandchild or the sale of a business frequently necessitates immediate updates. Therefore, regular reviews every few years or after major life changes are essential to prevent costly surprises and maintain clarity.

Families who delay updating their estate documents risk causing confusion among heirs, which may lead to unintended disinheritance or disputes. Proactively managing estate plans helps keep intentions clear, legally valid, and aligned with current family circumstances and goals. Regularly revisiting and revising estate documents prevents costly misunderstandings and protects the legacy you intend to pass on.

estate planning mistakes

2. Overlooking State-Specific Tax Laws and Regulations

Estate planning mistakes frequently stem from overlooking the varied tax laws across states. Federal rules do not operate in isolation; many states impose their own estate, inheritance, or gift taxes with differing thresholds and rates. Consequently, ignoring these nuances can result in unexpectedly high tax liabilities.

Furthermore, understanding state-specific regulations allows for strategic adjustments that minimize tax impact. For instance, some states levy estate taxes starting at lower asset values than the federal exemption, while others impose no estate taxes at all. Establishing trusts or relocating assets to more favorable jurisdictions can significantly reduce exposure.

3. Not Providing Clear Succession Guidance for Family Businesses

Many families make estate planning mistakes by overlooking clear succession plans for their family businesses, often one of the largest estate assets. This neglect can cause operational disruptions, family disagreements, or forced sales that reduce the business’s long-term value and legacy. Without proper guidance, the family risks losing control and jeopardizing their financial future.

Effective succession planning outlines leadership roles, ownership transfers, and contingency measures for unexpected events like incapacity or death. In addition, addressing tax consequences and establishing buy-sell agreements helps minimize conflict and ensures smooth business continuity. Incorporating succession strategies into the overall estate plan aligns business interests with broader financial goals and family priorities.

4. Relying Solely on Wills Without Establishing Trusts

Relying solely on wills is a common estate planning mistake that can cause probate delays, public exposure, and extra expenses. While wills specify asset distribution, they provide limited control over when and how beneficiaries receive their inheritance. This lack of control can result in unintended consequences for families.

Trusts help prevent common estate planning mistakes by offering greater control, privacy, and protection for assets throughout a grantor’s lifetime and after death. Moreover, they help shield heirs from creditors, reduce estate taxes, and avoid the probate process entirely. These benefits ensure faster, more confidential, and efficient wealth transfer to beneficiaries.

5. Underestimating Communication: A Common Estate Planning Mistakes Among Heirs

Estate planning mistakes frequently result from poor communication between those creating the plan and their heirs. Lack of transparency can cause misunderstandings, unrealistic expectations, and potentially lead to lasting family conflict or even litigation. Clear communication is essential to avoid these issues and preserve family harmony.

Open and ongoing conversations promote shared understanding while establishing clear expectations among all family members involved in the plan. These discussions provide heirs with an opportunity to give feedback which enhances the plan’s acceptance and overall effectiveness. Facilitated family meetings or financial advisor sessions often help foster this important dialogue.

Transparent communication works hand in hand with legal and financial planning efforts to create a cohesive strategy. Moreover, aligning family members around common goals and values strengthens legacies that go beyond financial wealth alone. This unity helps ensure that the family’s intentions are honored across generations.

Securing Your Family’s Future With Intentional Planning

Estate planning demands a holistic strategy that integrates legal expertise, tax optimization, financial foresight, and family dynamics. By proactively addressing potential challenges through comprehensive planning, families can create adaptive, resilient frameworks that protect wealth and preserve generational harmony. The most successful estate plans are those that remain flexible, regularly updated, and aligned with evolving family needs and financial landscapes.

​ABOUT JEFF

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic wealth management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Arizona, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com.

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

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The Wealth-Longevity Connection: Financial Planning for a 100-Year Life

Life expectancy continues to rise globally, making wealth planning a crucial component of long-term financial security and peace of mind. Many individuals now realistically anticipate living 100 years or longer, requiring strategies that account for extended financial obligations. Strategic wealth planning ensures stability without sacrificing lifestyle quality, healthcare access, or multi-generational legacy objectives.

Longer lifespans fundamentally change how retirement and asset management are approached over time. As a result, financial strategies must adapt to support decades of income, rising medical expenses, and shifting personal priorities. A well-structured wealth plan provides confidence, adaptability, and sustainability throughout an extended retirement horizon.

Rethinking Retirement Timelines Through Wealth Planning

Extended lifespans require a fresh perspective on retirement age and income distribution. Traditional models may leave retirees underfunded during later years. Wealth planning creates a timeline that sustains resources through all life phases.

Scenario modeling helps evaluate how different retirement ages impact long-term security. For example, adjusting retirement start dates by even a few years can significantly change portfolio demands. Planning early allows for more adaptable strategies in later decades.

Moreover, considering part-time or phased retirement can extend portfolio life. This approach maintains engagement while easing the drawdown rate on invested assets. Longevity demands flexibility in both mindset and investment structure.

wealth planning for retirement

Balancing Growth and Risk Over Decades

Managing investments for a 100-year life requires a careful mix of growth and protection. Therefore, portfolios often need higher growth exposure in earlier years to offset inflation. Over time, wealth planning shifts allocations toward stability without sacrificing return potential.

Diversification across public equities, fixed income, private markets, and alternatives helps balance volatility. Additionally, regular reviews ensure portfolios adjust to life stages, tax considerations, and evolving risk tolerance. This process supports resilience through changing markets.

Savvy wealth managers are increasingly combining active and passive strategies to meet long-term objectives. Such flexibility helps sustain purchasing power across multiple decades of retirement.

Planning for Healthcare and Long-Term Care Costs

Healthcare costs tend to rise sharply with age, often outpacing general inflation. Furthermore, Medicare and supplemental insurance may not fully cover specialized treatments or long-term care. Wealth planning should account for these potential expenses from the outset.

Including healthcare inflation assumptions in projections makes future costs more predictable. Tools that simulate various care scenarios allow for better preparedness and decision-making. This planning also preserves assets for lifestyle and estate goals.

Long-term care insurance, health savings accounts, and designated medical reserves are valuable components. Each strategy should be reviewed regularly to ensure alignment with personal health status and market conditions. Protecting wealth from medical shocks preserves long-term stability.

Building Flexible Income Streams in Wealth Planning

Income strategies must adapt to both market shifts and personal circumstances. Depending on a single static source can create risk if conditions change. Wealth planning integrates multiple income streams to provide adaptability.

These sources may include dividend-paying stocks, rental income, annuities, and systematic portfolio withdrawals. Structuring them for tax efficiency enhances net returns and sustainability. This approach ensures continued lifestyle funding even during market downturns.

Layering income streams allows for adjustments without significant disruption. Income diversification remains a cornerstone of sustainable wealth strategies as flexibility protects both current spending needs and long-term objectives.

Embedding Legacy and Philanthropic Goals in Wealth Planning

A longer life means more time to consider lasting impact. Legacy and philanthropy should be part of long-term wealth planning to align assets with personal values. This ensures that wealth benefits both future generations and chosen causes.

Common tools include charitable trusts, donor-advised funds, and family foundations. Each requires careful coordination with tax, legal, and investment planning. The right structure supports giving without compromising personal financial security.

Multi-generational planning also addresses education funding, asset transfer strategies, and governance structures. Aligning these elements with broader wealth planning objectives creates harmony between living well now and leaving a meaningful legacy.

Longevity as a Financial Opportunity

Living longer offers a unique chance to experience multiple fulfilling life chapters. However, it also requires disciplined wealth planning to maintain security. Proactive strategies help sustain health, lifestyle, and philanthropic impact over time.

Consider incorporating stress testing, healthcare cost modeling, and flexible income design into your personal plan. At Balboa Wealth Partners, we’re passionate about creating financial plans that support your long-term goals and adapt as your needs change. Together, we can build a strategy that provides confidence and security for whatever the future holds.

​ABOUT JEFF

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic wealth management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Arizona, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com.

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.

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Retirement Strategies for Women: Financial Planning After 40

By Jeff Gilbert

Financial planning for women often involves hurdles that don’t always affect men in the same way. Longer lifespans, career pauses for family, and wage disparities are just a few factors that can impact how women prepare for retirement.

If you’re in your 40s, now’s the perfect time to get serious about your retirement plan, or update the one you have. Understanding these unique challenges can help you make decisions that set you up for lasting financial stability. Let’s explore some common obstacles and share strategies to help you build a retirement plan that works for you.

Retirement for Women: Financial Planning Obstacles

Women encounter several issues in retirement that require careful financial planning for women to properly prepare for the future.

Longer Life Expectancy

The National Center for Health Statistics shows a big difference between the life expectancies of American women and men. Data from a 2022 study reports that the life expectancy of women in the U.S. averages 80.2 years—a full 5.4 years more than the average life expectancy for men. This indicates that women likely have more retirement time to plan for.

Income Gap

Despite increased efforts to attain equality, the income gap between men and women still affects financial planning for women. As of 2022, American women earned an average of 82% of what men made, limiting their ability to save for retirement. Some women may earn less due to pausing their careers to start families.

Healthcare Expenses

With their longer life expectancy, women may encounter higher medical expenses in retirement than men. These costs may escalate when women need long-term care or treatments for conditions older individuals commonly face.

Lower Social Security Benefits

Since many women have shorter work histories than men, financial planning for women must address the potential impact of lower Social Security benefits. As this disparity affects retirement income for women, financial planning is especially important.

Setting Retirement Goals

For both men and women, financial planning is more productive when it reflects a set of attainable goals. Some of the clearest, most reasonable goals include:

  • Setting a target date for retirement
  • Planning your desired retirement lifestyle
  • Evaluating current savings and income
  • Assessing future needs with retirement calculators

Circumstances can always change. It’s always worth leaving substantial room for adjustments in your retirement plan. Here are some areas that may need more focused attention.

Maximizing Retirement Contributions

Whenever possible, making the maximum annual contributions to a 401(k) account, traditional IRAs, or Roth accounts can help women grow wealth more quickly. Married women may also rely on spousal IRAs if they experience career gaps.

Investing to Grow Wealth

An investment account can produce significant gains in wealth for the future. It’s always good to maintain a diverse portfolio of several different types of holdings in various sectors and market caps. Tailor your investment strategy based on your risk tolerance, age, and time frame.

Planning for Healthcare

Medicare and long-term care planning are essential to consider before issues arise. Find out about Medicare eligibility requirements, coverage options, and extended care needs in retirement. Starting a tax-advantaged health savings account (HSA) and an emergency savings fund can be beneficial—talk to a financial coach about all your options.

Social Security and Pension Planning

Many women rely on benefits from Social Security or pensions in retirement. You may consider delaying the receipt of Social Security benefits until later in life since that might result in larger monthly payouts. Think about setting up spousal and survivor benefits, if applicable, in case of your passing early. 

Financial Planning for Women: Essential Support for Retirement Planning

Thoughtful financial planning for women is essential to create a stable and confident future, including the retirement you’re dreaming about. At Balboa Wealth Partners, we work closely with our clients to develop personalized strategies tailored to their unique situations and goals. When you connect with one of our financial advisors, you’ll have a partner who listens, understands your challenges, and helps guide you every step of the way.

To start the conversation, give me a call at 949-445-1465 or email me at jgilbert@balboawealth.com.

Scottsdale office: 480-801-5010, info@balboawealth.com

About Jeff

Jeff Gilbert is the founder and CEO of Balboa Wealth Partners, a holistic financial management firm dedicated to providing clients guidance today for tomorrow’s success. With over three decades of industry experience, he has worked as both an advisor and executive-level manager, partnering with and serving a diverse range of clients. Specializing in serving high- and ultra-high-net-worth families, Jeff aims to help clients achieve their short-term and long-term goals, worry less about their finances, and focus more on their life’s passions. Based in Scottsdale, Jeff and Balboa work with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email jgilbert@balboawealth.com. 

Advisory services provided by Balboa Wealth Partners, Inc., an Investment Advisor registered with the SEC. Advisory services are only offered to clients or prospective clients where Balboa Wealth Partners and its Investment Advisor Representatives are properly licensed or exempt from registration.