What if there was a year that started with the market hitting new highs after a prolonged bull market and the economy seemed to re-accelerate? What if there was a virus that came from the East and spread to the rest of the world? What if governments around the world closed their economies by imposing a lockdown and all citizens had to shelter-in-place?

Most of us can get a driver’s license to drive a car, almost anyone can get the appropriate licenses to become a financial advisor, and many advisors have now become a Certified Financial Planner (CFP®). A CFP® certificate may be the minimum standard nowadays to offer comprehensive advice beyond investments.

Tax aware investing focuses on increasing your returns by reducing your tax liability as much as possible. In theory, this investment strategy has the potential to help you earn more money on your investments, but you need to be aware of some potential pitfalls. When getting started with tax-aware investing, you may want to avoid the following practices.

Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review.

If you're a CPA or a lawyer, you have extensive personal knowledge about taxes or the legal system, but at the same time, you may be running your own firm and dealing with unique financial situations. To ensure you're increasing your investment and savings efforts, you may want to consult with a financial planner. Here are some tips to help you work with these professionals.

Ultimately, the goal of investing is to try to make as much money as possible, and of course, you don't want to let taxes eat into your gains. Tax aware investing helps you minimize the effect of taxes on your investment portfolio. Wondering how to get started with tax-aware investing? Take a look at these tips.

1. Consult With a Tax Professional

As you get older and closer to retirement, your financial practices need to shift slightly as you transition from working and saving to relying on your nest egg. As you approach this stage of your life, you need to take steps to preserve your wealth. Keep these tips in mind. 

When it comes to retirement savings, the goal is quite simple for most. To accumulate as much wealth as possible so that they are able to retire in comfort and style, while they enjoy the fruits of years of labor. For those with a high-net-worth, being able to maintain their lifestyle into retirement might require a little more skill when it comes to saving.

Why should you partner with Maheras Wealth Management, Inc.?

MIA ZOI are two Greek words which simply translated mean “one life”, my guiding inspiration for developing a financial and investment process which allows our clients to work towards living the best life they can.

Saving for a high-net-worth retirement is not always an easy process, but necessary if an investor with a high-net-worth wishes to enjoy the same lifestyle they were accustomed to while they were working. So how does one maintain their wealth so that they might live the life they desire once they hit retirement age? A few simple steps may help make the process a little easier.