Purposeful Planning with Aspen Wealth Management

Is midlife destined to be a crisis, or can it be a time of positive reflection and renewal? In this episode of Purposeful Planning, we explore how to transform the traditional "midlife crisis" into an opportunity for meaningful growth. Learn how to assess your accomplishments, realign your priorities, and develop a financial roadmap for your "next act"—whether that's a traditional retirement, a hybrid approach, or something entirely different.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey https://www.forbes.com/sites/jannfreed/2024/06/03/3-reasons-not-to-retire/ https://www.aspenwealthmgmt.com/resource-center/lifestyle/gratitude-and-retirement  https://www.aspenwealthmgmt.com/resource-center/financial-planning/what-crisis-making-midlife-a-time-of-anticipation   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Life's big moments, like marriage and having children, are exciting milestones. These milestones do require thoughtful financial planning. In this episode of Purposeful Planning, we explore essential financial moves for newly married couples and first-time parents. From budgeting and emergency funds to insurance and estate planning, discover how establishing good habits now can create security for decades to come.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey  https://www.aspenwealthmgmt.com/resource-center/financial-planning/good-financial-habits-for-young-couples https://www.investopedia.com/terms/1/529plan.asp  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

We all know compounding can grow our wealth over time, but what about applying this powerful principle to other areas of our lives? In this episode of Purposeful Planning, we explore how the concept of compounding can enhance your knowledge, daily routines, reading habits, physical health, and even your emotional well-being. Discover how small, consistent actions in these areas can lead to remarkable results over time—just like compound interest works with your investments.  Sources:    https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth https://www.aspenwealthmgmt.com/resource-center/lifestyle/compounding-its-not-just-for-finances   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

Is tax efficiency driving your investment decisions? In this episode of Purposeful Planning, we explore how to balance tax minimization with wealth building. From retirement accounts to tax-loss harvesting, discover strategies that can help you maximize after-tax wealth without sacrificing long-term investment growth. Whether you're a seasoned investor or just starting out, these insights will help you make smarter decisions about taxes and your portfolio.  Sources:    https://www.aspenwealthmgmt.com/resource-center/tax/taxes-and-your-investment-profits https://www.aspenwealthmgmt.com/resource-center/blog/tax-wise-investing-team https://www.irs.gov/newsroom/401k-limit-increases-to-23500-for-2025-ira-limit-remains-7000  https://www.healthcare.gov/glossary/high-deductible-health-plan/  https://www.irs.gov/pub/irs-drop/rp-24-25.pdf  https://www.aspenwealthmgmt.com/tax-planning   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

When you’ve been diligently saving for your child’s or grandchild’s education, having extra money left in a 529 plan might seem like a good problem to have—but it’s still a problem that needs solving. In this episode, we’re breaking down your options for unused 529 funds, from Roth rollovers to saving for future generations. Tune in to learn how to maximize those savings without taking a tax hit!  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/your-529-plan-and-secure-2  https://www.aspenwealthmgmt.com/resource-center/blog/financial-gifting-to-grandkids   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

As the year wraps up, it’s time to check more than just your holiday gift list. In today’s episode of Purposeful Planning, we’re diving into essential year-end financial tasks to keep your financial journey on track. From revisiting your budget to maximizing retirement contributions and charitable giving, these tips will help you make the most of the remaining days of 2024 and set yourself up for a prosperous new year.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/year-end-financial-checklist https://www.aspenwealthmgmt.com/resource-center/blog/year-end-cash-management/ https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits  https://www.healthcare.gov/glossary/health-savings-account-hsa/ https://www.fidelitycharitable.org/guidance/philanthropy/qualified-charitable-distribution.html  https://www.aspenwealthmgmt.com/resource-center/blog/gratitude-and-retirement   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

What if being thankful could make your retirement happier, healthier, and even wealthier? In today’s episode of Purposeful Planning, we’re diving into the power of gratitude and how practicing thankfulness can improve your well-being, enhance your financial decisions, and give your retirement a meaningful boost. If you’ve ever wondered how to create a truly fulfilling second act, this conversation is for you.  Sources:    https://dornsife.usc.edu/news/stories/practicing-gratitude-can-improve-your-health-and-well-being/ https://cos.northeastern.edu/news/can-gratitude-reduce-costly-impatience/ https://www.tandfonline.com/doi/full/10.1080/17439760.2018.1497688 https://www.waterstonesl.com/blog/cultivating-gratitude-and-positivity-during-retirement/ https://www.ted.com/talks/susan_pinker_the_secret_to_living_longer_may_be_your_social_life?subtitle=en  https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey https://www.aspenwealthmgmt.com/resource-center/blog/gratitude-and-retirement  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

Thinking about ways to set your grandkids up for a brighter future? In this episode of Purposeful Planning, we dive into options for grandparents who want to provide financial support, whether it’s for college, a first home, or even a head start on retirement savings. We’ll explore everything from 529 education plans to custodial Roth IRAs, each with its own benefits and tax advantages. Stay tuned if you’re looking for the best way to leave a financial legacy.  Sources:    https://www.aspenwealthmgmt.com/resource-center/blog/the-gift-that-goes-with-everything-holiday-ideas-for-grandparents/ https://www.aspenwealthmgmt.com/resource-center/blog/financial-gifting-to-grandkids https://www.collegewell.com/private-college-529-plan/#FAQ https://www.investopedia.com/terms/c/coverdellesa.asp#toc-coverdell-education-savings-accounts-vs-529-plans https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.