A job change is an exciting milestone, filled with new challenges and opportunities for growth. Scheduling a time to check in with your Vision Capital Client Relationship Manager can ensure the transition is as smooth and beneficial to you as possible. From evaluating compensation packages to helping you understand possible tax consequences, taking a holistic approach is imperative. Here are some essential financial aspects to think about when you’re contemplating your next job.
Preparing for the Sunsetting of the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA) of 2017 significantly reshaped the American tax landscape in numerous ways, impacting individuals from all walks of life by aiming to simplify the tax code, spur economic growth, and provide relief to taxpayers. While some provisions of the TCJA were permanent modifications to the tax code, many of those affecting individuals and families were only temporary and are set to expire at the end of 2025. The expiration of these provisions may potentially to lead to higher tax liabilities for many Americans. This blog will discuss a few of the major ramifications of the sunsetting TCJA and steps individuals can take to prepare.
Beyond the Stigma: Pre and Postnuptial Agreements
Marriage, while a joyous and celebratory occasion, should also be approached with the same touch of practicality that would be recommended when entering into any legally binding contract. Couples undoubtedly don’t wish to think about the possibility of divorce while reveling in the glow of engagement, however approximately 48% of first marriages in the United States end in divorce and the probability increases for second and third marriages.
Prenuptial and postnuptial agreements, colloquially known as pre- and post-nups, have long been stigmatized, however recent reports show that they are growing in popularity, particularly amongst younger people. Approximately 15% of Americans signed one in 2022, with 40% of those individuals being between the ages of 18 and 34. The concept of a prenup dates back more than 2,000 years ago and were most often crafted by the parents of the bride and groom to ensure that the wife would have rights to property upon divorce or the death of her husband.
Navigating the Early Retirement Path: Embarking on Your Golden Years with Clarity
The allure of early retirement, escaping the daily grind for a life filled with freedom and leisure, is a powerful dream. However before taking the plunge, there are many things one should consider to increase the likelihood of a smooth transition and a secure future. This month, we’re delving into a few fundamental aspects to think about before embarking on your early retirement journey.
Aging in Place: Practical Strategies for a Secure and Comfortable Home
As American seniors lead longer and healthier lives, the interest in maintaining independence, comfort, and communities is growing. Often this begins with the desire to remain in one’s home as one ages, commonly referred to as aging in place. While interest in aging in place has soared, it can present numerous concerns about safety, feasibility, and accessibility. Careful planning is important because it can significantly mitigate these concerns for individuals and their families and allow for a smoother transition as needs change and increase over time. One of the primary considerations for aging in place is home safety. Falls are a common concern for older adults and for those 65 years and older, studies show that falls account for approximately 60% of all injury-related emergency room visits and over 50% of injury-related deaths. Planning, budgeting for, and implementing strategic modifications to the home to reduce the risk of accidents is paramount.
