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Heres how two financial experts helped clientstransform their lives through effective financial planning.
It had always sounded good, because it helped them reduce their tax bill each year, he said.
But now they could see that they had a significant tax liability heading into retirement.
Holistic financial planning, which includes proactive tax planning, is something most people have never experienced.
Uncorrelated and limited financial advice is the norm.
This strategy alone saved them over $400,000 in taxes over the next 20 years of retirement.
Why It Was Effective
Martinsen said thatcomprehensive holistic planningis like putting together puzzle pieces.
She had a successful career as a senior account manager for a manufacturing company.
Her portfolio wasalmost all stock mutual fundsand had worked well.
We started working together in 2021, near the last market peak.
Within those stock funds, there were many international stocks, including in Asia.
Hackmanns effective financial planning strategies worked, because the stock market took a turn in 2022.
In 2022, we all know that the stock market dropped 20%-30%, he said.
The bond market fell, as well.
International markets were hit particularly hard.
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