Gateway Financial Partners - Tim Hammond

Financial mindfulness is the idea of being aware of your financial decisions in real time, without reacting impulsively or with judgment.

At its core, it’s about paying attention to how money decisions are made, including the habits and emotions behind them.

Forbes has more:
https://www.forbes.com/sites/financialfinesse/2024/05/07/financial-mindfulness-the-key-to-enhancing-your-financial-life/?sh=48b668db11d5

Financial Mindfulness Is The Key To Enhancing Your Life Implementing financial mindfulness can be straightforward with the right strategies. Here are some practical steps to incorporate it into your daily life.

One of the things we love most at Gateway Financial Partners is meeting people where they are.

Whether it's a lunch presentation or a community workshop, we're committed to making financial education more accessible — covering topics like estate planning and preparing for taxes in retirement.

If you're interested in having our team present to yours, we'd love to connect.

602-975-3737
[email protected]

Headlines are written to get clicks. Portfolios are built to last decades.

Those are not the same job.

Selling after a scary news cycle, then buying back once things feel calm and prices are higher, is one of the more expensive habits an investor can pick up. So is piling into whatever sector is on the front page that month.

News will always feel urgent. That's the point of news. A plan, on the other hand, is built around your life and your timeline.

One of the things we love most at Gateway Financial Partners is meeting people where they are.

Whether it's a lunch presentation or a community workshop, we're committed to making financial education more accessible, covering topics like estate planning and preparing for taxes in retirement.

If you're interested in having our team present to yours, we'd love to connect.

602-975-3737
[email protected]

Your investments are doing one job. These five risks need a different one.

Loss of income from a disability or extended job loss
Long-term care needs that can run into six figures
Health care costs that often surprise people in early retirement
Liability exposure beyond what auto and home policies typically cover
Estate transfer issues from outdated documents or beneficiaries

These are the gaps that planning, insurance, and a few good documents are built to address.

A little while back, Henry and I set a goal: swim from Alcatraz to shore in San Francisco Bay.

What followed was months of training, early mornings, and a lot of cold water. It wasn't easy, but that's the point.

The goals worth achieving rarely are. Whether you're crossing San Francisco Bay or building a financial future, the preparation matters just as much as the finish line.

We also made time to visit the Oakland Temple and soak in the Bay Area, a place that's always felt like home to me. A trip we won't forget anytime soon.

Annuities are often discussed in terms of income, but the tax treatment can be just as important to understand.

One key distinction is how the annuity is funded:
• Qualified annuities (funded with pre-tax dollars) are generally fully taxable when withdrawn
• Non-qualified annuities (funded with after-tax dollars) may include a mix of taxable earnings and non-taxable return of principal

In many cases, earnings grow tax-deferred until withdrawals begin, which can affect how income shows up later.

Kiplinger has more:
https://www.kiplinger.com/retirement/annuities/602248/how-annuities-are-taxed

How Are Annuity Withdrawals Taxed? Annuities offer powerful tax advantages and have a few pitfalls (that are avoidable). Here's how to cut your taxes and avoid surprises.

Happy Mother's Day to two women I'm incredibly grateful for. My mom Joyce has always been someone I could count on. Her love and steadiness shaped a lot of who I am today. And my wife Libby raises five kids, keeps our family grounded, and still makes time for adventure. No small feat.

Wishing a wonderful Mother's Day to all the moms in our Gateway Financial Partners community, we hope you feel appreciated today.

Today, we celebrate the women who have shaped us, supported us, encouraged us, and loved us through every season. Happy Mother’s Day.

The risk that mattered most in your 20s is rarely the one to focus on at 55.

Here's how it tends to shift:

20s. Sitting on the sidelines while time is on your side.

30s. Not having enough set aside when life gets unpredictable.

40s. Balancing growth with what you've already built.

50s. The order of returns. A steep drop close to retirement lands differently.

60s and beyond. Longevity, healthcare, and making savings last.

Risk is a series of decisions spaced out over a lifetime.

Do you have a plan in place?