Purpose Comprehensive Wealth Management

Tax Preparation versus Tax Planning.

Tax Preparation= an annual required task

Tax Planning= working with your advisor and CPA to create legal strategies that help you minimize lifetime taxes by paying at the lowest overall rate.

Is your advisor....

*Creating a strategy to help you keep more of what you earn?

*Evaluating the most effective distribution strategies for you pre and during retirement?

*Positioning specific investments in these buckets? (Taxable, Tax Deferred, Tax Free)

*Making sure you don't have a tax bill from your Mutual Funds in 2022?

*Helping you transfer wealth to your children in the most tax efficient manner?

*Small Business Owners *High Income earners *Pre-retirement and early retirement planning *Loss and gain harvesting *Tax Bracket maximization *Roth Conversions *Income deferral

At Purpose Comprehensive Wealth, we strive to educate. We believe in planning with a Purpose. The earlier you can start the process, the better. I am grateful I have parents that discussed these concepts at home. Share this with someone younger than you today!

Start 401K contributions of 10K per year at 23
Assume a match of $3,000 per year
Earn 6%
You will have an account balance of 1.7 million at age 60

Start 401K contributions of 10K per year at 35
Assume a match of $3,000 per year
Earn 6%
You will have an account balance of 730K at age 60

A difference of 970K

Take it a step further and teach them about compound interest.

*Scenario 1- Start contributing at 23 and STOP at 33.
Your account will be 850K when you turn 60.
*Scenario 2- Start contributing at 33 and STOP at 60.
Your account will be at 850K when you turn 60.

Ask your kid if they’d like to contribute for 10 years or 27?

Want to look at these strategies together? [email protected]

Is your wealth manager talking to you about tax efficient portfolios? Investment management combined with tax planning, builds wealth more efficiently.

Dustin Dupart
Wealth Advisor

Aaron Olson
Wealth Manager - Owner