Financial Planning with Global Hill Wealth Advisors

When you leave an employer (whether you’re changing jobs or retiring), your retirement plan doesn’t automatically move with you. You have to make a critical decision (or risk having that decision made for you in a way that’s better for the company or costs you money).

Your employer plan is one of your most valuable retirement assets, and deciding where it should go next is a decision with plenty of pitfalls and opportunities.

Handle it the right way, and you’ve protected your money’s tax-deferred growth and are in an optimal position for your current and future goals.

Handle it the wrong way, and you’ve given yourself a surprise tax bill, exposed yourself to potential IRS penalties, or robbed yourself of potential future wealth.

If you fall into any of these categories…

You’re in the right place. After you’re done listening this podcast, you’ll decide which of these strategies makes the most sense for your old retirement plan and know how to take the next steps that are right for you.

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

The bear market and recent downturn have hit folks hard, and many are wondering how to get back on track financially. 

This podcast has lessons learned and the essential steps to build your Recovery Roadmap.

“Worried about an uncertain future? Now is an opportunity to hit the reset button and rebuild your strategy.”

Sources:

1 https://am.jpmorgan.com/us/en/asset-management/gim/adv/insights/guide-to-the-markets/viewer

2 https://www.hartfordfunds.com/dam/en/docs/pub/whitepapers/CCWP045.pdf

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

You've recently discovered that a significant amount of money is on its way to you, or might even be sitting right now in your bank account. Maybe it's coming from an inheritance, or else it could be something like a lottery win or insurance payout.

Most people might think it's exciting, but you're realizing you've got some mixed feelings about it. It's pretty common to be happy and relieved that you now have more money, and to be stressed out or worried about how you're going to handle it, too.

You've got choices that you probably didn't have before to make positive changes to your finances. If you're like many Americans, you've got debt of some kind. Should you pay off all or a portion of it? If you have kids, should all or a portion be set aside for college in some way?

Or instead, maybe this is the time to buy the larger house you've always wanted. Launch your own business and stop working for “the man." Travel the world. Take a work break for a little while.

Money that comes in suddenly is often spent, seemingly, just as suddenly. But you don't want to lose all the money you've just come into. Fortunately, you can plan how to work with your windfall without spending it all right away. By avoiding the mistakes that others make and choosing the right options, you have the chance to make dreams come true.

But what are those options and what are the mistakes that lead to all that money slipping right through your fingers? The challenge you're now struggling with is that you don't know what you don't know. The causes of sudden wealth are generally pretty similar. But the right way to handle it varies from recipient to recipient, according to your own circumstances, desires, and needs.

Sources:

1 - https://www.irs.gov/faqs/interest-dividends-other-types-of-income/gifts-inheritances

2 - https://www.irs.gov/taxtopics/tc419

3 - https://www.irs.gov/pub/irs-pdf/p4345.pdf

4 - https://www.bbc.com/worklife/article/20181024-you-can-win-a-billion-and-go-bankrupt

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results. This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.

How do you make investment decisions?

Do you look at all the data? Search for an interesting opportunity?

Surprisingly, most folks don’t look at the facts or data to make these choices. They prefer a good story.1

Maybe it’s not so surprising.

A good story can worm its way into our subconscious faster than any facts can. That’s because research shows good stories appeal to our emotions and our values.2

They help make sense of the world, and they can be a powerful learning tool at any age.3

But that doesn’t always make stories a good foundation for investment decisions.

Why?

Because the stories we tell ourselves can cloud the facts.1

And if those stories are rooted in common myths about investing, anyone — even the smartest folks — can have a much harder time making sound investment decisions.

So, what stories could be interfering with your financial choices?

What investing myths could be misleading you or holding you back?

Let’s find out in this podcast by looking at some common investing myths, how they can cost you, and what the facts really are.

Sources:

1 - https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/narrative-fallacy/

2 - https://www.npr.org/sections/health-shots/2020/04/11/815573198/how-stories-connect-and-persuade-us-unleashing-the-brain-power-of-narrative

3 - https://www.brainfacts.org/neuroscience-in-society/the-arts-and-the-brain/2021/why-the-brain-loves-stories-030421

4 - https://www.cnbc.com/2022/01/25/long-term-investors-shouldnt-worry-too-much-about-stocks-being-10percent-off-their-highs.html

5 - https://www.cnbc.com/2021/09/25/did-you-panic-sell-during-the-latest-stock-market-dip-heres-when-to-get-back-in.html

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.

What would you do if you couldn’t work for 1 month?

2 months?

What about 3 years? Or worse… permanently.

What would you do if you couldn’t work as quickly as you used to due to an injury? Or if you couldn’t do your job anymore so you had to scramble to find a job you could do with your diminished function?

What would you say if someone asked you to name your most valuable financial asset?

Many high earners believe their most valuable assets are their savings and investments.

At this stage in your life, you probably have substantial savings in both your home, savings, and investment accounts. They’re the most significant part of your tangible asset portfolio.

And yet, none of these is your most valuable asset.

Still, you’ve put protection in place for these types of assets. Homeowners insurance, maybe an umbrella policy, and estate planning. Despite all this, you may not have safeguards around your most important treasure.

So, if it’s not your retirement portfolio or your house, then what’s your most valuable asset?

If these questions strike a chord with you, keep Listening...

Sources:

1 https://www.ssa.gov/disabilityfacts/facts.html

2 https://einsteinmed.org/administration/environmental-health-safety/accident-injury-reduction-campagin/top-injuries.aspx

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.

If you’ve ever had to watch a loved one lose their capacity for living independently, you know how difficult it is for the whole family. Becoming impaired often starts with unexpected challenges…

Like the inability to stand up after using the bathroom or to simply get out of bed. Over time, it gets worse.

All too often, struggles with the normal activities of daily living are accompanied by the loss of dignity and rapid depletion of savings. You need assistance but might not want members of your family to handle more delicate tasks.

Here’s the hard truth: hiring help for your “long-term care” is not covered by Medicare, nor by most employer or retiree health plans.

If you’ve helped a relative through the process, you probably want to avoid the stress and loss of dignity that come with having your spouse and kids (or others) make decisions for you.

You know that planning ahead will help you maintain your dignity and independence. But you’re not sure who can help you with your strategy, or what your options are.

You’re in the right place.

Sources:

1 https://www.aarp.org/caregiving/financial-legal/info-2018/long-term-care-insurance-fd.html

2 https://www.cdc.gov/nchs/products/databriefs/db355.htm 

3 https://jamanetwork.com/channels/health-forum/fullarticle/2760146

4 https://www.genworth.com/aging-and-you/finances/cost-of-care.html

5 https://www.retirementliving.com/the-cost-of-aging-in-place-remodeling

6 https://www.realtor.com/advice/home-improvement/how-much-should-you-budget-for-home-maintenance-and-repairs/

7 https://www.morningstar.com/articles/957487/must-know-statistics-about-long-term-care-2019-edition

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.

“If you aim at nothing, you will hit it every time.” – Zig Ziglar

That’s true for most aspects of life, including our finances. Most of us realize that. It’s why we set New Year’s resolutions—and why more than half of all Americans set some type of financial goal as a resolution each year.1

As great as setting goals is, it won’t accomplish much for you if you can’t achieve them. And, maybe not so surprisingly, the vast majority of people (92% according to the research) don’t achieve their goals.2

Why?

Why do we (and I’m including myself here) struggle so much to meet the goals we set for ourselves? Is it because we don’t want to? Because we lack commitment? Not so much.

One big reason behind our failures is that most of us lack a clear connection between our present reality and the future we’d like to achieve. That vagueness can cut the emotional ties to a financial goal, draining the passion and commitment that actually lie within us.3 When we don’t connect to our goals at a deep level, it’s easy to get off track and lose our momentum.

So, how can we stay on track to achieve our financial goals?

By reconnecting with the vivid emotions behind them and digging deeper to uncover our inner passions and motivations behind our goals.3 A simple way to dig deeper into the underlying reason for your financial goals is by peeling back the layers and asking yourself “why?” three times.

For most people, financial goals take time to achieve. From spending less to saving more, these goals take consistent effort and action. They can require you to change your habits, make sacrifices, and stay the course for years.

And that’s hard.

But it can be a lot easier if you’re able to stay connected to the “why” and the passion behind your goals.

Sources:

1- https://www.bankrate.com/personal-finance/smart-money/how-to-avoid-common-financial-mistakes/

2-  https://www.inc.com/marcel-schwantes/science-says-92-percent-of-people-dont-achieve-goals-heres-how-the-other-8-perce.html

3-https://www.cnbc.com/2019/11/29/use-financial-psychology-to-crush-those-saving-goals.html

4- https://www.marketwatch.com/story/passion-budgeting-lets-you-keep-what-matters-most-yet-still-fix-your-finances-2019-01-25

Risk Disclosure: 

Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results. This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.

Most of us learned about money when we were kids. We picked up tips and lessons from those around us, and even learned things the hard way through firsthand experience. What are these lessons? Are there still more I should learn? This Podcast breaks down what you need to know.

Sources:

1 -https://journals.sagepub.com/doi/full/10.1177/2167696819861467

2 - https://sjes.springeropen.com/articles/10.1186/s41937-019-0027-5

3 -https://www.forbes.com/sites/briannawiest/2019/02/13/this-harvard-study-says-the-happiest-people-have-more-time-and-less-money/?sh=15c9b4ca2ca8

4 -https://www.inc.com/jessica-stillman/happiness-california-berkeley-research.html

5 -https://thehill.com/changing-america/well-being/mental-health/482958-what-makes-people-happier-than-money-according-to

6 - https://www.capitalone.com/about/newsroom/2020-capitalone-mindovermoneystudytips/

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific situation with a qualified tax professional.

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.

What inspires you to give?

Most of us give for the same basic reasons.

We want to help others, make a positive difference in the world—and giving feels good. It makes us happy, and it connects us to the causes we care about.1

Studies show that most charitable folks give according to their values or to support causes they care about.2

But they don’t always have a strategy around giving. Or a way to monitor for impact.

How do you make the greatest impact with your giving?

If you’re not sure, you’re not alone. Many folks are passionate about giving but don’t have a defined strategy.

Even though strategic giving can pave the way for thoughtful donations of money, time, and resources. And that can help you figure out how to do the most good for the causes that matter most to you.

Want to create your own charitable strategy?

This podcast will help you to create your own giving roadmap.

Sources:

https://blog.philanthropy.iupui.edu/2019/11/20/why-do-people-give/#:~:text=Sara%20Konrath%20and%20Femida%20Handy,)%2C%20tax%20benefits%20(monetary%20private

https://scholarworks.iupui.edu/bitstream/handle/1805/26654/bank-america-sept21.pdf?sequence=1&isAllowed=y

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Global Hill Wealth Advisors LLC is a registered investment advisor located in the State of Connecticut. Additional information about Global Hill Wealth Advisors LLC and its advisory persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm name or with CRD# 316075.