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Setting Goals for 2019

January 3, 2019

I have a friend, Craig, who is a local custom builder and has been part of all the ups and downs of the construction industry here in Florida.  I thought it was a challenge operating a Trust Company until I heard about his issues; when times are good, it is extremely difficult to find subcontractors such as framers, roofers, electricians, concrete pourers and others.  When times are bad, you just don’t have buyers, yet you still have to pay your staff regardless.   While Craig has successfully navigated his business for over 30 years, I’m most impressed at his dogged tracking of his retirement planning.

He starts the year with a personal balance sheet, tracking his assets and liabilities, and sets a goal for the end of the year.  We invariably talk each December, and he can quote not only his performance for the past 12 months, but also where he will be for the upcoming year.  A significant portion of each year’s gain is in his self-directed Roth IRA – where he will never be taxed.  Because of his constant attention on his retirement, at 57 he no longer requires income from his business for his personal needs.

Self-Directed IRA clients think differently – and because of that, have not suffered the queasiness of the stock market ride this past month.  It may be a bit easier to forecast our returns if we lend money, hold rental property, or purchase tax liens, and add to those gains with contributions throughout the year, if eligible.

Why not take the time sometime this week to set your retirement goals, and if you are already there, put together your ten-year, three-year and one-year plans?   Don’t forget to factor in your Health Savings Account, Coverdale Educational Accounts, and funds that have not yet been rolled over to your Self-Directed Accounts.

Here at NuView, your successes as investors are a constant reminder of how blessed we are to serve you.  Throughout 2019 and beyond, we pledge to continue to make our processes simple, be more available and responsive, and worthy of your long-term relationship.  Look for lots of new capabilities through your client portal and technology investments to execute your retirement choices easier than ever.

May God bless you and your family with the best year ever,