The R.I.C.H. Planning Group, LLC LTMOnline E-Newsletter

Robert A. Imparato, Jr CFP^®

CERTIFIED FINANCIAL PLANNER™ professional

Craig A. Hyldahl CFP^®

CERTIFIED FINANCIAL PLANNER™ professional

R.I.C.H. Planning Group, LLC

105 Fieldcrest Avenue, Suite #507

Edison, NJ 08837

Robert: 732-326-5240

Craig: 732-326-5240

Fax: 732-326-5331

Robert: robert@richplanninggroup.com

Craig: craig@richplanninggroup.com

Website: www.richplanninggroup.com

May/June 2021

Charitable Giving: A Win-Win

Is giving to charity on your to-do list? Making a charitable donation to a nonprofit organization allows you to support a cause that's important to you and take a tax deduction.

Is Life Insurance Optional?

Everyone hopes to live a long and healthy life. But the fact is, there are no guarantees. Would your family or business survive financially if you died suddenly or your company lost a key employee? Life insurance is designed to provide for families or businesses if the unexpected happens.

May Is Older Americans Month

A Presidential Proclamation designates May as the month for honoring older people in our communities. It can also serve as a reminder to ask older relatives about their health and finances. Consider talking with loved ones about:

Consistency Is Key for Retirement Investors

Slow and steady like the tortoise or fast and furious like the hare? Which investing approach do you think offers the best chance of saving enough for a comfortable retirement? For a long-term investor, being a tortoise has its advantages.

Leave a Legacy

You may think of life insurance as a means to protect your loved ones financially should something happen to you. But life insurance can also be structured to accomplish specific estate planning objectives that reflect your final wishes. As part of an estate plan, life insurance proceeds can be used to:

The Banking Dilemma

Is a traditional bank or an online bank the best choice for you? It may depend on the features that are most important to you.

How Balance Transfers Affect Your Credit Score

Eliminating credit card debt is always a good plan. But accumulating interest can make it difficult to pay off your balances, especially if you're making only the minimum payments.

Retirement: How Will You Know If You're Ready?

For older generations, choosing a date to retire was a lot less complicated. When you turned 65, you typcially said good-bye to your coworkers and left work behind.

Investing at Every Life Stage

Over your lifetime, you’ll have many goals to save for. Some will be shorter-term, while others, like retirement, will continue throughout your working years. No matter where you are in your investing journey, prioritizing your goals and assessing your progress are essential steps.

Make Your Workplace Benefits Millennial-friendly

Attracting millennials to your company may require more than a competitive salary and a run-of-the-mill benefits package. For millennial employees, a healthy work-life balance can be just as important as a healthy income.

Depreciating Assets

Depreciation is the process of deducting the cost over time of a tangible or physical asset you bought for your business. When you depreciate assets, the amount of money you write off each year reflects how much of the asset’s value has been used up. Some examples of assets that can be depreciated by small businesses include vehicles, office furniture and equipment, computers and buildings.

Young Adults Living at Home During the Pandemic

Since the pandemic began in the U.S., the percentage of young adults ages 18-29 living with relatives has become a majority. The numbers surpass the previous peak that occurred during the Great Depression.

On Their Own

Student loan debt, job loss during the pandemic or even fear of being on their own are some of the reasons why many young adults decide to live with their parents. Here are some steps you can take to get your child started along the path to independence.

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