Riverside Financial Group, LLC

💡 Unlocking the Power of Time: It's Never Too Late to Invest! ⏳ When it comes to building wealth, time truly is your most valuable asset. Whether you're just starting out or you're an experienced investor, the time value of money is a principle that can significantly impact your financial future. Every dollar invested today has the potential to grow exponentially over time, thanks to the power of compounding returns. This means that even a modest investment made now can blossom into a substantial sum down the road. For experienced investors, it’s easy to think that the prime time to invest has passed. However, the market always offers opportunities, and it’s never too late to start or continue building your portfolio. By strategically positioning your investments now, you can still take advantage of the growth potential the market provides, ensuring your wealth continues to grow. At Riverside Financial Group, LLC, we’re here to guide you through the complexities of investing, helping you make informed decisions that align with your long-term goals. Whether you’re looking to maximize returns or ensure financial security in retirement, there’s no better time than the present to invest. Check out the graph below to see how time and consistent investing can work wonders for your portfolio. If you want to learn more about how to make your money work for you, don't hesitate to reach out to one of our advisors to discuss strategies for you! #TimeValueOfMoney #InvestNow #FinancialGrowth #WealthManagement #RFGInsights #CompoundingReturns #FinancialPlanning #InvestmentStrategy #LateInvestors #SmartInvesting

Planning for Healthcare Costs in Retirement: Maximizing HSA and Roth IRA Contributions An important article in the August 17, 2024, edition of Barrons points out that a 65-year-old retiring today can expect to pay up to $165,000 throughout retirement – a 5% increase over last year according to Fidelity Investments. This estimate includes the costs of Medicare Part B outpatient services or alternative private plans, Part D drug coverage, plus prescription drug outlays. It is hard to plan and save for retirement, providing for medical expenses makes this endeavor more difficult. A powerful and efficient strategy to set aside funding for retirement medical expenses is to make annual contributions to a Health Savings Account or to a Roth IRA, or both. The HSA contribution limit for 2024 is $4,150 for an individual and $8,300 for a family. The Roth contribution limit for 2024 is $7,000 for an individual under age 50, and $8,000 for individuals over age 50. The common appeal for both HSA and Roth accounts is that assets grow tax-free and distributions, assuming you adhere to the rules of each, are also tax-free. HSA contributions are made pre-tax, and available to both W2 and self-employed workers. Roth assets are made after-tax. You are unable to contribute to an HSA when you enroll in Medicare, and you are unable to contribute to a Roth when you have no earned income. But you may use your accumulated tax-advantaged balance from each to pay for retirement medical costs. Get started now, building tax-free assets to meet the challenges of this daunting but vital retirement expense. #RetirementPlanning #HSASavings #RothIRA #TaxFreeGrowth #HealthcareCosts #FinancialStrategy #RetirementSavings #WealthManagement #FinancialWellness #FuturePlanning

In his recent commencement address at Dartmouth College, tennis great Roger Federer offered reflections from his years of success on the court that all professionals and competitors should consider. Our team at RFG offers this link to a particularly valuable lesson he shares after revealing a shocking statistic from his career. His message on the importance of approaching each task or “point” with a singular standard of excellence and to not linger on successes or failures once they have come to pass is vital in all walks of life. This philosophy is foundational to our business practice at RFG, and we strive to extend our dedication to excellence and professionalism in every aspect of our services. Just as Federer reminds us, patience and a long-term perspective are essential. Temporary periods of underperformance in certain holdings should not dictate overall portfolio success. Consistency and strategic focus are key to achieving lasting financial goals. https://lnkd.in/eZ8rBjjh #Inspiration #RogerFederer #Dartmouth2024 #ProfessionalExcellence #LifeLessons #TennisGreat #CareerAdvice #SuccessMindset #RFGPhilosophy #ExcellenceInAction 

🌳 Building a Financial Legacy for Your Family Tree 🌳 At Riverside Financial Group, we believe in creating financial plans that go beyond the individual. We talk about "Household" and "Family Tree" because financial wellness is a family affair. Encouraging open conversations among family members about finances might be challenging, but it can make a significant difference when life events unfold. Utilizing digital tools and even a good old-fashioned roundtable discussion can help family members gain a comprehensive understanding of the broader financial picture. Our experienced advisory team excels in bridging knowledge gaps, making the process less intimidating and more productive. Think of us as your financial "Coach" guiding you through the complexities. Wealth management isn't just about today; it's about creating a legacy for generations. Get the answers you need now to avoid the tumult of uncertainty later. Let's make financial transparency a family tradition. 🌟 #FamilyFinance #WealthManagement #FinancialPlanning #GenerationalWealth #FinancialWellness #MoneyMatters #FinancialLiteracy #TransparentFinance #FuturePlanning #FamilyWealth https://lnkd.in/e9UZk22R

🌟 This Week in Finance: Key Events to Watch! 📊 This week, the financial spotlight shines brightly with several key events on the horizon. Major earnings reports from tech giants like Apple and Amazon, a pivotal Federal Reserve meeting potentially hinting at future interest rate cuts, and the eagerly anticipated July jobs report will collectively shape the economic narrative. Investors are set to closely watch these developments, as they offer critical insights into market trends and economic health. These combined events will provide a comprehensive snapshot of the current economic landscape and help guide investor strategies moving forward. #BigTech #EarningsSeason #FederalReserve #JobsReport #MarketUpdate #InvestingTips #EconomicOutlook #FinancialNews #InvestmentStrategy #StockMarket https://lnkd.in/eB_8fxXB

🌍 It is a tumultuous time in Europe. Leaders from across the continent expressed steadfast support for Ukraine and concern about the direction of the U.S. at the European Political Community Summit. This uncertainty and political change overseas highlight the prudence of maintaining a focus on US companies in equity portfolios. While there will be investment opportunities, the current statements from heads of state suggest gathering clouds, not the sun peeking through. 🌥️ Curious about how shifting global events will affect your financial plan and outlook? Schedule a meeting with one of our advisors for a strategic overview today.📊 #InvestSmart #WealthManagement #FinancialPlanning #GlobalMarkets #EconomicOutlook #RiversideFinancialGroup #USEquities #InvestmentStrategy #PortfolioManagement #StayInformed https://lnkd.in/dBtuviqC

🔥 Hot Button Question: How much cash should you keep in your checking account to live comfortably and avoid financial stress? Ever wondered how much cash to keep in your checking account? Whether you're rolling in dough like a billionaire or counting every penny, it's a common conundrum! According to the Federal Reserve, the median household balance is $2,800, but should you follow the crowd? Think of your checking account as a financial buffer—aim for 1-2 months' worth of expenses to dodge those pesky overdraft fees. And remember, while it’s great to have a cushion, don't let too much money gather dust. Let’s make those dollars work smarter, not harder! 💸✨ Got extra dollars after optimizing your checking account balance? Reach out to us at Riverside Financial Group, and let us help you decide the best places to put your money to work for your financial future! https://lnkd.in/e-4QJqma #SmartMoneyMoves #FinancialFreedom #WealthManagement #RiversideFinancialGroup #LifeGoals

🎉 Passing on family wealth without passing on entitlement? Challenge accepted! 🏆 Jennifer Mann from Lenox Advisors hits the nail on the head: "A lot of families don’t teach their kids about finances," leading to potential headaches later on. At Riverside Financial Group, LLC (RFG), we’ve got strategies to help you avoid the pitfalls of affluenza. 🚀 Three Quick Tips to Raise Financially Savvy Kids: 1) Meet with a Financial Advisor (Like Us!): Tailor a financial plan that suits your family's unique needs. 2) Engage in Open Conversations: Involve your children in estate planning to ensure they're prepared and informed. 3) Utilize Trusts Wisely: Set up trusts with specific provisions to encourage smart spending and financial responsibility. Ready to secure your family’s financial future? Let’s chat about strategies that work. 📈 👉 Learn more and get expert advice here! #FinancialPlanning #WealthManagement #FamilyWealth #FinancialEducation #RiversideFinancialGroup #SmartSpending #RetirementPlanning #EstatePlanning #FinancialResponsibility #InvestSmart #FinancialFreedom https://lnkd.in/eaWjhKJf

🍔🔥 Fourth of July Cookout Costs Are Up! How Are You Saving? 🔥🍔 As you gear up for those July Fourth cookouts, the advisors over at RFG offer some food for thought: this year’s celebration will cost 5% more than last year, averaging $71.22 for a cookout for ten, according to the U.S. Farm Bureau. With ground beef prices up 11%, it’s time to get creative with your grilling plans. 🍔💸 At Riverside Financial Group, LLC we believe in smart spending and savvy saving. Want to keep your finances sizzling this summer? Let’s chat about strategies to keep your budget on track. 👉 Learn more about managing your finances during inflation and get expert advice here! https://lnkd.in/e-4QJqma #FinancialPlanning #InflationTips #SmartSpending #RiversideFinancialGroup #FourthOfJuly #CookoutCosts #InvestSmart https://lnkd.in/eU7mAQyb

📊 You May Be Missing Out on Easy Savings. Vanguard Report: How America Saves Hits New Highs! 📊 RFG here with tools that may improve your benefits compensation at work:    Good news for 401(k) savers! According to Vanguard’s latest How America Saves report, American workers are saving at record-breaking rates, with an average deferral rate of 7.4% in 2023! 📈💪 Even better, 43% of participants increased their savings rate last year. Thanks to smart plan design features like automatic enrollment and accessible financial advice, the future of retirement savings looks brighter than ever!     Here are three quick tips to help you access better retirement benefits at your workplace and beyond:    1) Promote Automatic Enrollment: Encourage your employer to implement or enhance automatic enrollment features. This simple change can significantly increase participation and savings rates among employees. 💼👍 2) Meet with a Financial Advisor (like us!): Schedule a meeting with an accredited financial advisor to discuss, review, or begin building your own robust retirement plans and strategies. Bring data, like Vanguard’s report, to support your case. 🗣️📊 3) Sit Down and Pay Yourself First by Budgeting: Take agency in your financial life! Decide if you like what you actually spend your money on. Set aside time to go line-by-line on your most recent credit card or bank statement and learn where you send your money. It’s easier to reallocate for your retirement or other goals when you know where your money is going. 🧠💡 Ready to boost your own savings and secure your financial future? Reach out to Riverside Financial Group, LLC today for a review of your financial plans and goals. Let’s make your retirement dreams a reality! 🌟💼 👉 Learn more about the future of 401(k) savings and get expert advice here! https://lnkd.in/e-4QJqma   #RetirementPlanning #401k #FinancialWellness #RiversideFinancialGroup #SavingsSuccess #InvestSmart #FutureOfFinance #Budget #Agency https://lnkd.in/efunUC8C