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The Cost of Putting Off Financial Planning

By Jeff Gilbert

With everything on your overflowing plate, organizing your finances probably keeps getting put on the back burner. We get it. Whether it be insurance planning, filing taxes, or putting together an estate plan, most people aren’t eager to put the nitty-gritty of financial planning at the top of their to-do list. You don’t need to enjoy it, but it still needs to be done. 

Delaying completing these tasks can be costly—in time, energy, and money. If you’ve been putting off your financial plan, consider these 5 reasons why you shouldn’t.

1. You Might Not Be Saving As Much As You Should

The first reason you shouldn’t put off financial planning is that you might not be saving as much as you should. That’s not to say that the savings you do have shouldn’t be celebrated. But no matter the amount you have, you need to be sure it will be enough. 

If you plan to retire in your mid-60s, your retirement savings may need to carry you through 30+ years. Not to mention rising inflation that will decrease the value of your savings over time and the additional expenses you will likely encounter along the way. A study by the Center for Retirement Research estimated that the medium retirement savings of Americans age 55-64 is $120,000,1 yet the average retirement cost is nearly $46,000 per year!2 At that rate, a savings of $120,000 will only last 3-4 years.

The best way to avoid running out of money in retirement is to work with a financial professional to understand what your savings can handle. Contrary to popular belief, you cannot use a multiple of your annual income to determine how much to save. This is why it’s so crucial to plan ahead. The sooner you understand your need, the more options you will have and the easier your goals will be to accomplish.

2. Healthcare Costs Are on the Rise

If you’ve ever held a hefty medical bill in your hand, you aren’t alone. Healthcare costs in America are among the highest in the world.3 And as you age, you will likely require more healthcare services. According to the Fidelity Retiree Health Care Cost Estimate, the average couple at age 65 will need about $300,000 saved to cover healthcare costs in retirement.4 Most people don’t even have that much in their retirement accounts to live on, let alone cover medical costs.

Given the events of the past two years, it’s more important than ever to start preparing for the ever-increasing cost of care. The longer you wait, the less options you’ll have. Working with an experienced professional can help you evaluate your options and build a long-term plan for healthcare. 

3. Tax Strategies Take Multiple Years to Implement

Another reason not to put off financial planning is that if you don’t start early, you’ll miss out on several tax strategies that take years to implement, including:

Tax-Advantaged Retirement Savings

If you’re in a high tax bracket, being able to save for retirement with pre-tax dollars is a great advantage because pre-tax contributions reduce your taxable income and ultimately reduce the amount of taxes you owe. This strategy could save you thousands of dollars in taxes each year. The earlier you start, the more you’ll save over the course of your career. 

Roth Conversions

Roth conversions help to increase your retirement savings and decrease your long-term tax liability by transferring funds from a pre-tax retirement vehicle (traditional IRA) to an after-tax account (Roth IRA). This allows your money to grow tax-free for as long as you’d like, and required minimum distributions (RMDs) are avoided as well. 

Withdrawal Strategies

When it comes to withdrawing from your retirement accounts, how you take your distributions can make all the difference. Each retirement asset (employer-sponsored accounts, Social Security, traditional IRAs, etc.) has different tax characteristics. Creating a withdrawal strategy can help lower your tax burden by structuring withdrawals from each income source in a tax-efficient way. 

To properly implement these strategies and more, a long-term understanding of your full financial picture is required. Putting off financial planning can leave you stuck with a huge tax bill that could have been avoided.

4. Compound Interest Requires a Head Start

Just as saving early allows you to take advantage of massive tax savings over time, there is a compound effect that occurs with the money that is actually invested as well. The money contributed to your retirement account each year will grow exponentially over time, but the key part of that equation is time. 

A single penny that doubles every day for a month may not seem like much on the surface, especially when compared to $1 million up front. But by the time the 30th day rolls around, you will have over $5 million in pennies. This same concept can be applied to your retirement account, but because retirement investments are at the mercy of the highs and lows of the stock market, it will take more than 30 days to see that kind of growth. 

If you wait to invest, you are missing out on growth year after year, and the resulting loss of earnings can be substantial. Not to mention the potential for loss when you try to invest yourself without the proper advice and guidance of a professional. We’ve found that many clients are often invested too conservatively and miss out on the opportunity for significant growth in even just a slightly riskier portfolio. 

5. Financial Planning Can Alleviate Stress

Do you feel 100% confident about the myriad of financial choices you make day in and day out? Have you encountered more complexity as your assets have grown? Partnering with a financial professional can help alleviate the stress and anxiety that comes from trying to figure out your finances. 

Think about all the time you spend worrying over finances and whether you are saving enough money. Are those thoughts preventing you from making great memories and actually living your life? For many of our clients, the answer is yes. But it doesn’t have to be that way. 

Financial planning can help alleviate the stress that comes from not knowing where you stand or how to achieve your goals. It can provide clarity by defining a path from point A to point B, and allowing you to get the most out of your life along the way.

Don’t Wait Any Longer!

It should now be apparent that there are many reasons to start the financial planning process sooner rather than later. If you have long-term financial goals, such as buying a house, planning a wedding, or saving for retirement, working with a professional is one of the best things you can do to set yourself up for success. Don’t leave your most important goals and priorities to chance. At Balboa Wealth Partners, we strive to be your guide to financial independence—your advocate to help achieve your financial goals by building a custom plan to put your money to work for you.

If you want to feel confident in your financial future, give me a call at 949-445-1465 or email me at [email protected] to set up a no-obligation consultation. And you can complete a complimentary risk assessment here. We look forward to hearing from you!

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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Kingswood Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Kingswood. Neither firm is affiliated.

1https://smartasset.com/retirement/average-retirement-savings-are-you-normal
2https://www.financialsamurai.com/the-average-spending-amount-in-retirement-is-surprisingly-high/
3https://www.investopedia.com/articles/personal-finance/072116/us-healthcare-costs-compared-other-countries.asp
4https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs

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Top 6 Habits of Financially Successful People

By Jeff Gilbert

Defining financial success is a hard thing to do. Some people consider financial success to be a feeling of reassurance and safety, while others consider financial success to be a symbol of status and power. However you choose to define success is completely up to you, but there are certain core habits and behaviors that will get you there. In this article, we’ll explore the top 6 habits to keep in mind if you’re trying to achieve financial success.

1. Cultivate Financial Confidence

One of the best habits to build is financial confidence. Many people define financial confidence by how much money you have (i.e., having money gives you financial confidence). But it’s actually the opposite. Feeling confident in your ability to save money, build wealth, and make wise financial decisions is what brings financial confidence (and ultimately financial success), not the other way around. 

Making the conscious mindset shift from one of cynicism and doubt to one of determination and confidence can make a huge difference in your ability to achieve your goals. In fact, recent research suggests that a positive outlook on your own ability to accomplish something makes you more likely to actually accomplish it. (1)

Don’t be afraid to dream big financially. You have the power to achieve your goals by proactively planning, dreaming, and strategizing. Think of your most lofty financial goal and break it down into smaller substeps. Does it sound impossible to save $100,000 in five years? Think of saving $20,000 every year instead. It’s easy to get discouraged when it feels that substantial progress is so far away. So, try acknowledging and celebrating small milestones along the way. This can help you stay motivated to keep working toward your goals. 

2. Improve Your Financial Literacy

Another great way to achieve financial success is through improving your financial literacy. It sounds cliche, but there is a reason the saying “Knowledge is power” is so commonly quoted. As with any topic, the more you know about finance, the more likely you are to make wise financial decisions. Sure, you can hire financial professionals to advise you along the way (see point #6), but nothing beats having a sense of agency over your own finances. You can rely on professionals, but you should also rely on yourself to grow your financial understanding and improve your financial literacy.

Reading books by financially successful people, listening to podcasts, reading magazines like The Economist and Kiplinger’s, or taking a financial education course are just a few ways to take your financial future into your own hands and improve your chances of achieving financial success.

3. Avoid Everyday Debt

You’ve probably heard it said that wealthy people avoid debt like the plague. Financially successful people live by this concept, understanding that credit should be used sparingly and not as a way to live beyond your means. 

Credit can be a useful financial tool when purchasing large assets that will appreciate and bring value down the line (like a house), but it can be a slippery slope if used for everyday expenses or things you don’t need. Avoid overburdening your finances with credit card debt, and if you do use credit, make sure the balance is paid off every month. Revolving credit card debt is the quickest way to rack up interest charges and fees that can take years to pay off, which makes it exponentially harder for you to achieve true financial success. 

Try shopping without your credit cards and planning ahead for large purchases instead. Minimizing the amount you have to borrow and creating a repayment plan are two ways to avoid the trap of everyday debt.  

4. Don’t Keep Up With the Joneses

While you do want to follow the good financial habits of successful people, you don’t want to get caught up in thinking that your life needs to look exactly like theirs. This is especially true when you are working toward a certain lifestyle. You won’t be able to afford that lifestyle right away, so don’t feel pressure to keep up with the Joneses. 

In today’s social-media-driven age, it can be tempting to compare yourself to your peers, feeling pressure to surround yourself with nice furniture, designer clothes, expensive cars, grand vacations, and the latest technology. But these items will only set you back in your quest for financial success, especially if they were funded with everyday credit (see point #3). 

Financial success is often built from doing the things that other people don’t want to do: tracking expenses, minimizing your spending, saving and investing religiously, etc. These small habits, when done consistently over time, will generate compounding growth and provide the framework you need for financial success.

5. Manage Your Risk

There are many ways a financial plan can be derailed. Whether this comes in the form of investment risk (hello, market volatility!), health risk, auto, liability, or homeowner risk, properly managing these potential obstacles is one of the most important ways to protect your accumulated wealth and build financial success. You can have a sizable amount saved, but it can be wiped out in an instant if you get sick, get in an accident, or experience any number of financial curveballs life may throw. 

The good news is that though there are seemingly endless risks out there, many of them can be mitigated through proper insurance and estate planning. Get in the habit of regularly checking your insurance coverage amounts to ensure they’re adequate enough to protect what you’ve already built. Consider an estate plan to protect your wealth in the event of incapacity or death, and don’t forget that making sure you’re adequately covered now will save you time, money, and energy in the future.

6. Seek the Guidance of a Professional

Though many of these points mention the importance of building your own financial confidence and literacy, working with a financial professional is also a great way to achieve financial success. Not only are financial advisors a good resource for additional financial education, they can also help you stay on track and hold you accountable to the goals you want to achieve.

Advisors have access to industry tools, technology, and continuing education that make tracking, implementing, and projecting the overall state of your financial plan much easier and much more accurate than if you were to do it completely on your own. Consider working with an advisor you trust to maximize your potential to achieve financial success.

Take the Next Step in Your Journey to Financial Success

Are you ready to take the next step in your journey to financial success? To learn more about how Balboa Wealth Partners can help you achieve financial confidence through these habits and more, call me at 949-445-1465 or email me at [email protected] for a complimentary, no-obligation conversation.

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 nearly 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 and to worry less about their finances and more on their passions in life. Based in Orange County, he works with clients throughout Southern California, as well as Arizona, Oregon, and Washington. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

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(1) https://medium.com/swlh/3-scientific-studies-that-prove-the-power-of-positive-thinking-616477838555

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We Have 5 New Team Members Joining the Balboa Wealth Team!

By Jeff Gilbert

At Balboa Wealth, we are passionate about bringing uncompromising advice, exceptional investment expertise, and outstanding service to as many people as possible. That’s why we are excited to announce our third office location in Tucson, AZ, and growth at our Scottsdale location. We want to introduce you to our five newest team members who will be serving our Arizona clients. 

Group Picture

Meet Ryan

Ryan Robinson, financial advisor and Chartered Retirement Planning Counselor℠ at our Tucson location, spends his days applying his investment knowledge and experience to build financial strategies tailored to his clients’ unique lives and goals. He prioritizes building long-term relationships with his clients so he can offer advice and service that truly makes an impact on their lives, both now and in the future. 

Ryan has a bachelor’s degree in business finance from New Mexico Highlands University, where he attended on a baseball scholarship. Born and raised in Flagstaff, AZ, Ryan now enjoys calling Tucson home. When he’s not working, you can find Ryan taking advantage of the Southern Arizona climate by participating in friendly (but competitive) rounds of golf. You can also find Ryan and his wife, Gloria, spending time with their young sons, Cole and Jace, trying to find outlets for their considerable energy! 

Meet Duane

Duane Shumaker, a Tucson native, specializes in investment and tax planning and is passionate about coordinating his clients’ entire financial picture, making sure every aspect of their financial lives is working together to get them to their goals. Duane is a CERTIFIED FINANCIAL PLANNER™ professional and an enrolled agent with the Internal Revenue Service, for which he is authorized to represent taxpayers at all administrative levels. He is managing partner of Shumaker, Wengren, LLC, one of the leading accounting and tax preparation firms in Tucson.

Duane has a Bachelor of Business Administration from the University of Phoenix and a degree in electrical and computer engineering from the University of Arizona. He also works as an adjunct faculty instructor for the University of Phoenix for their CERTIFIED FINANCIAL PLANNER™ program. Outside of work, Duane is an avid supporter of University of Arizona athletics and enjoys scuba diving, bowling, card games, and collecting and restoring classic muscle cars.

Meet Enedina

Also a native Tucsonan, Enedina Grijalva’s role is to assist in assessing clients’ current financial situations and create plans tailored to their lifestyles and goals. After years of working in cosmetology and training under award-winning hairstylist Michelle Helmke, Enedina made a career change to pursue her dream of helping people achieve financial security. She uses her vast experience in customer service and marketing to help strengthen the relationships between Ryan, Duane, and their clients.

On a personal note, Enedina is a fanatical animal lover! When she’s not putting together budget plans for her clients, she can often be found lounging on the couch with her dog, Blu, or playing Animal Crossing. Enedina is known for her inquisitive personality. 

Meet Gregory

Gregory Hermes serves our high-net-worth clients at our Scottsdale location. With over 25 years in the industry, Gregory has a plethora of experience in many years of financial planning and investment management. He grew up around family members working in finance and financial advising is in his blood (his great-great grandfather even worked for J.P. Morgan, Sr.). 

Originally from Chicago, Gregory was responsible for launching the investment advisory division at Harris Trust in Scottsdale, which was eventually recognized as the top-producing office in the U.S. His time working at upscale banks and serving professional athletes makes him a perfect fit for our Scottsdale client base. He considers his clients like family and is passionate about helping them take their finances to the next level.

Gregory loves spending time with his son. They are very involved in sports, especially baseball, and spend every other weekend at tournaments. Gregory himself was an athlete, playing hockey in his early years and winning state championships in his senior year on the swim and track teams at New Trier High School. He’s heavily invested in his community as a founding Arizona chapter leader of DePaul Alumni Association, board member of a brain cancer charity, a St. Vincent DePaul volunteer, and a parishioner at St. Theresa in Arcadio, where his son attends school.

Meet Ian

Ian

Ian Crawford comes to us from JP Morgan Private Bank, bringing a wealth of experience in banking and finance to our Scottsdale team. He is a candidate for CFP® certification and is dedicated to growing in knowledge and skill so he can exceed client expectations. Ian has built his career on the three key pillars of trust, responsiveness, and integrity so that he can provide the highest level of comprehensive wealth management services for his clients.

Originally from Southern California, Ian made Arizona his home after graduating from the University of Arizona with a bachelor’s degree in marketing. Outside of work, Ian enjoys spending time with his wife, Leslie, and their son, Grayson. Together, they love to travel and can’t wait to explore more of the world with their son. 

Moving Forward Together

We are proud to be expanding our reach and bringing Ryan, Duane, Enedina, Ian, and Gregory onto our Balboa Wealth team. If you want to experience the difference Balboa Wealth Partners can make in your finances, give me a call at 949-445-1465 or email me at [email protected].

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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

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What’s Going on With Inflation? 3 Reasons Why It’s Here to Stay

By Jeff Gilbert

Inflation headlines are the norm these days. It didn’t come as a surprise to many that after months of being told the current inflation crisis was transitory, Federal Reserve Chair Jerome Powell announced that we can expect high inflation to continue through 2022. (1) What may have seemed like a slight inconvenience at first is now becoming a much larger issue as prices keep soaring with no clear end in sight. 

If you want to know why inflation is up, look no further than the COVID-19 pandemic, which brought the entire global economy to a complete standstill for the only time in modern history. It’s to be expected that the rebound from such a once-in-a-lifetime event will be just as enigmatic as the event itself. 

That’s not to say that the future is bleak, but rather to temper expectations so that we can properly plan for the future and mitigate potential risk. Here are some reasons why inflation has increased in the past year and what it means for your long-term purchasing power.

What Is Inflation?

According to Investopedia, inflation is a decrease in the purchasing power of money, reflected in a general increase in the prices of goods and services in an economy. (2) It can be characterized as persistent or transitory. Transitory inflation (3) is temporary and happens when supply doesn’t meet demand. If left unhandled, it can turn into persistent inflation, (4) which results in a more permanent increase in prices due to a continuous mismatch in supply and demand. 

The Consumer Price Index (CPI) is a common measure of inflation. The most recent CPI report from December 2021 suggested that inflation has risen an astounding 7% over the past year! (5) That is significantly higher than the typical 2% rise we see in an average year.

Why Is Inflation So High?

To better understand if inflation will last, let’s take a look at the factors contributing to its rise.

Devalued Dollar

When the COVID-19 pandemic first hit and millions of Americans were furloughed or laid off, drastic economic measures were taken to keep the country afloat. The U.S. government instituted expansionary monetary and fiscal policies in order to pump money back into the economy, increasing the money supply at a rapid rate. It jumped from $15.5 trillion in February 2020 to $18.8 trillion in October 2020, an increase of over $3 trillion. (6)

Though experts agree that these drastic measures were necessary to keep the economy from collapsing, they also agree that the increase in money supply devalued the dollar, meaning it takes more dollars to buy the same item since each dollar is less valuable. 

This issue is further compounded by the current trade deficit, which is sitting at a $174.6 billion (28.6%) year-to-date increase. (7) Because the U.S. buys (imports) more than it sells (exports), a devalued dollar relative to other countries’ currencies drives the cost of imported goods up even more. It’s tempting to write these issues off as fallout from the pandemic, but the trade deficit is not a new issue. In fact, the U.S. has seen a deficit every year since 1975. (8) This indicates that the rise of inflation is not a new issue either, it’s just been sped up and exacerbated by the increase in government spending in response to the pandemic. 

Supply Chain Headaches

If there’s one thing that’s been in the news even more than inflation concerns, it’s supply chain disruptions. Since the vaccine rollouts and slow return to pre-pandemic life, companies have struggled to keep up with manufacturing and distributing goods. This is because many distribution centers cut their hours when the global economy came to a halt in anticipation of a huge drop in demand for consumer goods. The drop in demand, however, did not come. 

As people across the globe spent days, then weeks, then months in their houses, demand skyrocketed for exercise equipment, home goods, and office supplies. Factories increased their output, but the distribution chains have struggled to get everything where they need to be. 

Additionally, the increased production has also caused a shortage in raw materials, thereby exacerbating the gap between overall supply and demand for even basic items. As demand continues to outpace supply, prices are driven higher and higher. 

Labor Shortages and Increasing Wages

Continued labor shortages are another factor driving inflation. In what is being called “The Great Resignation,” millions of workers across America have quit or considered quitting their jobs as they reevaluate the role that work plays in their lives. (9) As such, many companies are finding that they have to pay higher wages in order to attract and retain employees. These increased costs often get passed through to the customer in the form of increased prices for goods and services.

The flip side of the labor shortage issue is the passage of the $15 federal minimum wage. (10) Many states are following suit with plans to increase their respective minimum wage thresholds. So even if companies weren’t paying more for labor because of the struggle to find workers, they would still be paying more due to increasing minimum wage. Again, these increased costs will be passed through to consumers, and it will be more than just a transitory change in prices since the minimum wage laws are permanent. 

How Long Will Inflation Last?

It’s tough to say exactly how long inflation will last, but based on these three variables, it could be a couple years before we return to the target rate of 2%. As our global economy shifts, trade alliances change, and we experience the ongoing effects of the COVID-19 pandemic, it seems to be an issue that will persist for the foreseeable future. 

Let Us Help You Protect Against Inflation

Even if you’re not worried about degrading purchasing power, skyrocketing inflation is still a headache. It’s another variable to account for when it comes to your long-term financial strategies.

At Balboa Wealth Partners, we have the tools and expertise to guide you through a long-term inflationary environment. We will review your investment and retirement plans for proper diversification and risk tolerance levels, ensuring you are properly protected no matter how long this increased inflation lasts. If you’d like to partner with a financial planner who understands your unique needs and inspires you to be more confident in your financial decisions, give me a call at 949-445-1465 or email me at [email protected].

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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

______________

(1) https://www.foxbusiness.com/politics/powell-fed-wrong-inflation-not-transitory

(2) https://www.investopedia.com/terms/i/inflation.asp

(3) https://finance.yahoo.com/news/inflation-transitory-persistent-210149448.html

(4) https://finance.yahoo.com/news/inflation-transitory-persistent-210149448.html

(5) https://www.bls.gov/news.release/pdf/cpi.pdf

(6) https://www.statista.com/statistics/1121054/monthly-m2-money-stock-usa/

(7) https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf

(8) https://www.thoughtco.com/history-of-the-us-balance-of-trade-1147456

(9) https://www.abc.net.au/news/2021-09-24/the-great-resignation-post-pandemic-work-life-balance/100478866

(10) https://www.dol.gov/newsroom/releases/whd/whd20210721

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What Should You Do About Inflation and Stock Market Volatility?

After a three-year rally, the financial markets have been down for seven straight days, marking their worst slide since the pandemic decline in March of 2020. (1) Monday’s market dip put the S&P 500 down over 10%, which is officially called a “correction” on Wall Street. (2)

In addition to the stock market decline, inflation has been causing concerns. Because inflation is reaching 40-year highs, it is expected that the Federal Reserve will begin raising interest rates in the spring, which could potentially slow the economy. (3)

Investors are understandably nervous about their investments and their purchasing power. If you are worried about your portfolio, you’re not alone. But during stock market volatility, it’s important to keep a level head to avoid financial mistakes.

Stay Calm

At times like these, it’s important to put current conditions into perspective. This is not the first time the market has taken a tumble and it won’t be the last. Declines in the Dow Jones Industrial Average are actually fairly regular events. In fact, drops of 10% or more happen about once a year on average: (4)

Ride Out the Uncertainty Storm

It’s important to remember that markets dislike uncertainty. Currently, there is a lot of uncertainty regarding the continued coronavirus pandemic, inflation, interest rate hikes, tensions between Russia and Ukraine, and earnings reports due out for several large technology companies. 

With so much uncertainty, volatility right now is extreme. The VIX, or the market volatility index, is at the highest level in nearly a year. (5) As we get more information, it is likely that day-to-day market fluctuations will decrease. 

Play Dead

There’s an old saying that the best thing to do when you meet a bear market is the same as if you were to meet a bear in the woods: play dead. While easier said than done, successful long-term investors know that it’s important to stay calm during a market correction. We don’t know yet whether the coronavirus fears will translate into an official correction, but the risk always exists.

Market volatility has increased in recent years and the media can often make it seem like each episode is worse than the one before. In reality, volatility does not hurt investors, but selling when the market is down will lock in losses.

Remember That Your Portfolio Is Diversified

Fears about inflation, volatility, and market declines are stressful. However, it is important to keep in mind that while the stock market is down, your portfolio is made up of both stocks, bonds, and other assets that are designed to work together to decrease overall losses. It’s important to consider your specific portfolio, investment horizon, and circumstances when reflecting on economic events. If you have questions about your portfolio, get in touch with our office.

Review Your 401(k) and Other Accounts

Now is a good time to take a look at all of your investment accounts, including your 401(k) to make sure it is well diversified. If you have not rebalanced your other investment accounts in the last year, get in touch with our office and we’ll take a look and offer recommendations to minimize potential losses.

Speak With Your Advisor

Whether you’re new to investing or an experienced investor, it’s helpful to consult with an objective third party. Human nature causes us all to act out of emotion when our accounts go down. As an independent firm, we put your best interests first. We seek to serve as a support system for our clients, helping them make informed financial decisions that aren’t driven solely by emotion. 

We’re Here for Your Friends and Family

If you have friends or family who need help with their investments, we are happy to offer a complimentary portfolio review and recommendations. We can discuss what is appropriate for their immediate needs and long-term objectives. Sometimes simply speaking with a financial advisor may help investors feel more confident and less concerned with the day-to-day market activity.

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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

_____________

(1) https://www.cnbc.com/2022/01/23/stock-market-futures-open-to-close-news.html

(2) https://www.forbes.com/advisor/investing/what-is-market-correction/

(3) https://abcnews.go.com/Business/wireStory/fed-signal-rate-hike-launches-risky-inflation-fight-82442509

(4) https://www.capitalgroup.com/individual/planning/market-fluctuations/past-market-declines.html

(5) https://seekingalpha.com/news/3790661-sp-500-etfs-fall-as-the-vix-crosses-above-32

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Jump-Start Your Financial Plan for 2022!

By Jeff Gilbert

2021 is officially behind us. If you’re like many of us who had high hopes when we rang in 2021, only to experience another intense year of the pandemic, economic shutdown and uncertainty, and slow road back to “normal,” it might be overwhelming to think about planning for a new year.  But the good news is that there are actionable steps you can implement to manage your finances effectively and truly make 2022 the fresh start you desire. Here are four ways you can get started today.

1. Set Financial Goals

The first way to jump-start your financial plan is to set financial goals. Do you have a goal for your finances or are you just crossing your fingers and hoping you have enough for the lifestyle you want? 

Specific goals with defined timelines will help to determine the best course of action, including how much risk you can and should take with your money. For instance, if you’re looking for a guaranteed source of income, then you will probably want to stick with investments that will provide long-term security. Conversely, if you are looking for substantial growth, then you might want to take on more risk and invest less conservatively. Every dollar in your portfolio should be working toward a specific goal.

Remember that the best goals will be SMART: 

  • Specific: The more you can identify exactly what you’re saving for, the easier it will be to work toward it. 
  • Measurable: As much as possible, try to identify how much your financial goal will cost. Do the research to figure out what you need to save so that you’re able to see tangible progress along the way. 
  • Attainable: Make sure your goal is realistic and achievable. This might require some self-reflection or reevaluation of your priorities.
  • Relevant: Ask yourself which goals align with your core values. Remember that your finite assets will be split amongst your seemingly infinite list of wants. The more you can scale back your list to what is truly relevant, the quicker you’ll be able to achieve each goal.
  • Timely: Identify the timeline for each goal so that you can prioritize which ones need to be addressed first and how much risk you can afford to take.

2. Strengthen Your Savings

If there’s one thing the last two years have taught us, it’s that it’s crucial to prepare for the unpredictable. Whether it be a pandemic, a lost job, or rising rates of inflation, sufficient savings can mean the difference between staying afloat during uncertain times and not having enough when you need it most. 

If you’re not saving already, take steps to start putting a portion of your income away every month. Usually 10-15% of pre-tax income is a good guideline. Ideally, it is recommended that most people should have at least 3-6 months’ worth of non-discretionary expenses saved in a highly liquid, easily accessible emergency fund before saving toward other goals. Either way, consistent savings are the cornerstone of any solid financial plan.

3. Reevaluate the Risk in Your Portfolio

As mentioned in Step 1, risk is fundamental to investing. Even “investing” by hiding cash under your mattress involves risk, since there’s always the chance of a break-in or increased inflation eating away at its value. To jump-start your financial plan in 2022, be sure to reevaluate the amount of risk you are taking in your overall portfolio. 

It’s not uncommon for a portfolio to become unbalanced as the market ebbs and flows. What may have started out as a 60/40 allocation between stocks and bonds can easily become a 70/30 or 80/20 allocation, which is a significant difference in risk level. You may also find that you are too heavily concentrated in one type of asset or in one company’s stock. If this is the case for you, rebalancing and diversification should be explored. 

Though risk is fundamental to investing, it’s also crucial that you aren’t overexposed to unnecessary risks. Take steps to evaluate your risk tolerance, based on your unique financial circumstances, stage of life, and personality, and be sure your investments align.

4. Find a Financial Partner

Regardless of where you are in the planning process or what goals you have set for your financial life, we are here to support you, guide you, and navigate any financial challenges you may face. Partnering with a financial professional is a great way to take control of your finances and get a jump-start on the future. 

At Balboa Wealth Partners, we have the tools and expertise to help you manage and coordinate your financial affairs, advocating for you as you pursue your financial goals. If you want personalized support as you navigate the challenges of life and make decisions that impact your future, give me a call at 949-445-1465 or email me at [email protected].

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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

 

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5 Important Financial Actions to Take Before the End of the Year

By Jeff Gilbert

Most of us entered 2021 with hope and expectation that the pandemic would end, life would go back to normal, and we could move on from 2020. Instead, we learned that uncertainty doesn’t have an expiration date and each year brings its own set of challenges. Concerns about inflation, potential tax changes, and new COVID variants have many people wondering if next year will be any better. But when it comes to your personal finances, 2022 does not have to follow in the same footsteps as the last two years. There are many ways to take back control of your finances and set yourself up for a successful future. Make sure all your bases are covered before the new year with these 5 tips.

1. Review Your Tax Strategy

One of the most important actions you should take heading into 2022 is to review your taxes and make any necessary changes in light of the potential passage of the Build Back Better Plan. This bill could have far-reaching implications for people in all tax brackets and it’s important to review how your financial plan may be impacted. Some of the potential changes to be aware of include:

  • Increased business taxes
  • New surtax on Americans making more than $10 million per year
  • New cap on state and local tax (SALT) deductions
  • Common tax-advantaged retirement strategies, including Roth conversions and backdoor Roth IRAs, could be eliminated or strictly regulated

If you have significant estate assets, are planning to retire, or you are expecting substantial capital gains in the next few years, be sure to review your plan with a financial professional to ensure you are taking steps to mitigate any potential risk.

2. Evaluate Your Asset Allocation & Invest with Impact

The end of the year is also a great time to review your asset allocation strategy and incorporate ESG and impact investing if desired. Given the dramatic rise of inflation over the last few months, it’s crucial that you evaluate your investments and make sure your portfolio is properly diversified. It should also be tailored to your specific risk tolerance level, ensuring that you are earning enough returns to keep up with inflation, but you are not overexposing yourself to risk. 

If you are interested in using your funds to support environmental, social, or governmental issues (ESG), you can also consider impact investing as a way to earn returns while also promoting change on causes you care about.

3. Consider Charitable Donations

Charitable donations are another option that can be reviewed as the year-end approaches. The holidays are a great time to give money and assets to your favorite non-profits, churches, and organizations. 

Charitable donations can be used as part of your overall tax strategy, or as part of a comprehensive estate plan. Both options provide many potential benefits including supporting causes you care about, reducing your taxable income, and reducing your taxable estate.

4. Use Up Your Employee Benefits

While every employee benefit plan has its own rules and regulations, many of them expire or reset at the end of the year. You worked hard for these perks, so be sure to use them before it’s too late!

Medical and Dental Benefits

Now’s the time to take care of all your healthcare needs before your deductible resets. Dental plans in particular often have a maximum coverage amount. If you haven’t used the full amount and anticipate any treatments, make it a priority to set an appointment before December 31st.

Flexible Spending Account

Like your health insurance benefits, you’ll want to use up as much of your FSA (flexible spending account) dollars as possible by the end of the year since you are only allowed to carry over $500 each year. 

Sick and Vacation Time

Depending on your company, your sick or vacation time might expire at the end of the year. Check with your HR department to learn about any expiration dates. If it does expire, fit in a last-minute staycation or take some time off to work on projects you’ve been putting off. If you need to make any trips to the doctor, schedule those appointments now to make use of paid-time-off benefits before you lose them.

5. Revisit Your Plans and Policies

Lastly, take another look at your estate plan and insurance coverage. If you took the time and energy to create an estate plan, check it periodically to ensure all the documents are up to date and no major details have changed. 

Your insurance needs may also change as the year goes by, so periodically review your coverages and designated beneficiaries to bring them up to date to reflect your current financial situation. For example, if you paid off debt, you may not need as much life insurance coverage since your family’s liabilities have decreased. You might also want to evaluate your need for other types of insurance, such as long-term care or disability insurance. 

Partner With a Professional

At Balboa Wealth Partners, we can help you take back control of your finances after a rocky couple of years. Together, we can achieve your financial New Year’s resolutions in 2022! Reach out to us today by calling our office at 949-445-1465 or emailing me at [email protected].

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 nearly 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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

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Do You Have Multiple Retirement Plans? How to Consolidate and Maximize Returns

By Jeff Gilbert

Forward-thinking people have been saving for retirement since day one on the job. So it’s not uncommon to have multiple retirement accounts—both from previous employers and plans set up individually. Does this apply to you? Even if you haven’t given them much thought, those accounts could cause headaches down the road as you find yourself juggling various investment decisions, fee breakdowns, and rules for each.

Before you stress, be aware that there is a way to streamline the management of your retirement savings and possibly maximize your returns: account consolidation. Let’s discuss how it works and why it may be a good option for you.

Understanding Your Options When Consolidating

Different retirement plans have their own benefits, but also their own sets of rules. It’s important to first get an understanding of the rollover options available to you. You may or may not be able to roll some types of accounts into others; some accounts only allow rollovers once every 12 months; and some only let you roll over after two years. (1)

Is Consolidating Right for You?

How do you know if it’s time to consolidate? There are a few things you’ll want to consider before consolidating multiple retirement accounts.

  • What kind of benefits and features do your retirement accounts offer?
  • Are there similar investment options in all of your accounts? 
  • What are the fees like on each of your accounts?
  • Can you roll over previous plans to a new employer? Or do you need to move to a self-directed retirement account?

You’ll want to do your research to answer these questions before you make any moves. And remember, you don’t necessarily need to consolidate everything into one. You can merge some while keeping others open. What’s best for you will depend on your specific situation and goals for retirement.

Benefits of Consolidating Multiple Retirement Plans

When it comes time for retirement, there are several benefits of consolidating multiple plans into one account. 

Here are just a few benefits to consider:

  • Reduced investment fees: Fewer retirement accounts can also mean fewer fees. Instead of paying fees for each of your account management services, you only need to pay one—meaning more of your money can grow.
  • More opportunities to save: You can’t contribute to an old employer-sponsored 401(k). You need to roll over the account to a new 401(k) or a self-directed account so you can continue contributing to that retirement fund. 
  • Reduced administrative work for you: Fewer accounts means simpler management. You don’t need to worry about managing investments and documentation across different platforms. For example, instead of three different monthly statements, you just have one. You can see all your investments in one location for more cohesive planning.
  • Simpler portfolio rebalancing: When it comes time to rebalance your portfolio, having all your accounts consolidated makes it easier to calculate your asset allocations.
  • Easier calculations and withdrawals of required minimum distributions: If you have multiple 401(k)s at retirement, you need to take required minimum distributions (RMDs) from each of those accounts. (2) When juggling multiple accounts, you risk missing a required minimum distribution, for which the IRS can make you pay a penalty. Having a single account makes RMDs much easier. 
  • A clear picture of your money: Consolidating your accounts allows you to clearly understand how well your investments are working for you while enabling you to easily tweak the account to meet your retirement goals.

Lastly, one of the biggest benefits of consolidation is saving time. Time is one of your most valuable assets. Having one consolidated account means you’ll spend less time managing all your accounts and free up more time and energy for doing what you love. 

We Can Help You Consolidate and Maximize

Consolidating your accounts can mean greater returns and less headache in the future, but it can be challenging to navigate the process. If you have multiple retirement plans, Balboa Wealth Partners is here to help. Our ultimate goal is to be your advocate to help you make decisions and achieve your financial goals while tackling life’s challenges. 

Let’s review your overall financial plan and discuss how we can help maximize your returns. To get started and see if we’d be a good fit, give me a call at 949-445-1465 or email me at [email protected]. Or reach our Scottsdale office at 480-801-5100, [email protected] to set up a complimentary get-acquainted meeting!

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 more than 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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

____________

(1) https://www.irs.gov/pub/irs-tege/rollover_chart.pdf

(2) https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-required-minimum-distributions

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What I Wish I Had Known About Money When I Was Younger

By Jeff Gilbert

Wisdom comes with age. We all know this, and we’ve all experienced the learning and growing that comes from making mistakes or forging our own path. But if you had the chance to go back in time and give your younger self some hard-won advice, what would you say? 

As a financial advisor who helps countless people prepare for the future and set their finances up for success, my three pieces of advice center around managing money. Here’s what I wish I had known about money when I was younger.

Pay Yourself First

In practice, paying yourself first means depositing into your savings and investment accounts before you divvy up your paychecks amongst your living expenses and wants. 

Wouldn’t you rather be your own bank when you are older? Money is simply a resource that gives us options. No money means no options. The ultimate goal is to accumulate enough wealth to live off of in complete financial freedom. Financial freedom is defined as having sufficient personal resources to live without needing to work to cover the basics. It means you have the time and money to pursue fulfillment in your life. If you have financial freedom, you can focus on living your life rather than making a living. But financial freedom doesn’t happen accidentally. Short of inheriting a windfall, financial freedom becomes a reality through patient and disciplined saving.

By investing and growing your portfolio at a young age, you increase your money’s potential for growth. That’s the power of compound interest—it helps the money you put away grow faster due to interest building upon itself. It means that not only do you earn interest on your principal, but on the interest you’ve already earned as well, so you are earning interest on interest. You can make your money work smarter rather than harder to pursue your goals.

Beginning to invest at age 25 and contributing regularly could result in more than doubling the value of your investments at age 65, compared to waiting to start at age 35. 

Be Strategic With Your Savings

You’ve probably heard this before, but it’s a tried-and-true solution for wealth management that works every time. Start with a 401(k) if your employer offers a retirement plan, especially if an employer-matching contribution is offered since it is a guaranteed return on the funds contributed. You can also save a percentage of your monthly income in an investment account such as a traditional IRA or Roth IRA and/or a taxable investment account, depending on your situation, to minimize your tax liability either now or in the future. 

The key is to be disciplined and consistent. Set up automatic contributions to tax-advantaged accounts and create an investment strategy that’s aligned with your goals.

Prioritize Education

Another way to be strategic with your savings is to take advantage of college savings accounts to prepare for the costs of higher education for your kids and grandchildren. With tuition costs climbing year after year, saving for higher education is incredibly important.

Enter the 529 plan. This type of educational savings plan is a qualified tuition plan created so that families can receive tax benefits for saving toward qualified higher-education expenses. After-tax money is invested in a 529 plan, where it grows tax-free. When the money is later taken out for qualified expenses, there are no federal taxes due. Over 30 states also offer a deduction or tax credit for contributions to a 529 plan. (1)

Just like saving for retirement, saving for college early and often will help you optimize compound interest and offset the cost of education.

Take the First Step

At Balboa Wealth Partners, we understand the impact that financial planning and good money habits can have on the wealth of an individual or family in the long run. If you’d like to learn more about how we can help, don’t hesitate to reach out to us for a complimentary meeting. To get started, contact my office by calling 949-445-1465 or email me at [email protected].

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 nearly 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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.

___________

(1) https://www.savingforcollege.com/article/how-much-is-your-state-s-529-plan-tax-deduction-really-worth

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Client Profile: How I Help My Clients Retire Early

By Jeff Gilbert

At Balboa Wealth Partners, our goal is to help our clients retire and enjoy their golden years the way that they want to. Often, our clients come to us with an array of retirement goals that may seem difficult to obtain. But in the end and with careful planning, our clients are able to look forward to retirement with confidence. This case study examines just that: our clients had a goal of retiring early. With thorough risk analysis and wealth management planning, we were very happy to have helped our clients work towards achieving their objectives. 

The Client

These particular clients were a couple who, for privacy reasons, we will call Susan and Greg. Susan and Greg had both been married before and had children from previous marriages but they had none with each other. I had been working with Susan longer than they had been married. 

Susan and Greg were well suited for each other. They entered their marriage with about the same amount of assets and were working hard to blend their finances and their families by making all three children from their previous marriages equal beneficiaries in their estate plan. Susan and Greg had major positions with their corporate employers and both have been successful at climbing the corporate ladder for over 30 years. 

The Goal 

Susan and Greg both wanted to retire early from their careers, and after three decades working for their respective companies, they deserved some rest and relaxation. Susan was planning to retire at age 58, while Greg was planning his retirement at age 60. 

While these are reasonable goals for any couple, Susan and Greg came to me with this plan less than two years before their desired retirement age. We had much to accomplish and sort out before Susan and Greg took that first step toward retirement.  

How We Helped

Luckily, I knew Susan and Greg from working with them at my previous firm,. Unfortunately, at the old firm Susan and Greg did not feel like they were getting the personal attention and planning needed for them to achieve their retirement goal. So in early 2019, they reached out to me and asked if we could work together again to maintain their wealth management plan. 

I was delighted to re-engage with my old clients and further develop their retirement strategy. With my help, we ironed out a wealth management and retirement plan that allowed both Susan and Greg to retire early.

It was important to this couple that they maintain their upscale lifestyle into retirement, and with my help, Susan and Greg have been able to do just that. This couple is now on track to retire in about 18 months, right on time with their goal. They live each day confident that they have done the right things in accumulating assets, and I look forward to the day that we will all celebrate their retirement.

With all our clients, we are diligent about keeping their financial plan updated and accurate. We tend to refresh it every three to four months and work hard to tweak it to reflect all worst-case scenarios. We also check in with our clients on a monthly basis and look for the optimal financial tools to use when any large spending is needed. 

We’re Here for You

At Balboa Wealth Partners, we strive to provide our clients with the very best financial tools available and unobstructed guidance to maximize their wealth management strategy. If you are interested in working with us, give me a call at 949-445-1465 or email me at [email protected]. You can also contact us at the Scottsdale office at 480-801-5100, [email protected].

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 nearly 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 Orange County, Jeff works with clients throughout the entire country. To learn more, connect with Jeff on LinkedIn or email [email protected]. 

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.

Securities offered through Chalice Capital Partners, LLC, member FINRA, SIPC.

Balboa offers advisory services independent of Chalice. Neither firm is affiliated.