Pasquale Sacchetta discusses strategies for managing tax risks in retirement income 

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-pasquale-sacchetta-president-of-cfig-wealth-management-discussing-tax-risk/ 

Taxes play a crucial role in financial planning. It’s important to acknowledge that tax laws are subject to change, as emphasized by Pasquale Sacchetta, the president of CFIG Wealth Management. He stressed the significance of preparing for potential tax increases in the future, noting that tax rates have historically fluctuated. This uncertainty underscores the need for individuals to plan for possible tax changes that could impact their financial well-being. 

Pasquale also pointed out that tax rates can vary based on individual circumstances. Factors such as income, investments, and retirement accounts can all influence the amount of taxes owed. Therefore, individuals need to assess their unique tax situation and plan accordingly. 

Furthermore, the discussion touched upon how government deficits can impact tax rates. With deficits on the rise, there may be pressure to raise taxes to address budgetary concerns. This further emphasizes the importance of proactive planning for potential tax increases in the future. 

Pasquale explained: “If you take money out of a regular IRA you’re going to have to pay taxes on it. So, in some people’s cases, when that becomes an RMD (required minimum distribution) it could be a substantial tax bill.”  

Given these insights, individuals are encouraged to collaborate with financial advisors to develop tax-efficient strategies and long-term financial plans. By staying informed about tax laws, preparing for potential changes, and regularly reviewing their financial situation, individuals can navigate the evolving tax landscape and secure their financial future in the face of potential tax increases. 

In conclusion, Pasquale’s discussion with Mike Saunders underscores the importance of considering Roth conversions as part of a comprehensive tax planning strategy. By understanding the implications of converting traditional IRAs to Roth IRAs, and leveraging strategies like charitable contributions to offset taxes, individuals can optimize their retirement savings and tax efficiency. 

Video Link: https://www.youtube.com/embed/NnNn1PgkbF0

About Pasquale Sacchetta 

Mr. Sacchetta is President of Westport-based CFIG Wealth Management, LLC. He is president and an investment adviser representative of Continental Five Investment Group, LLC. He is a CERTIFIED FINANCIAL PLANNER® practitioner, an Accredited Estate Planner professional, and a Chartered Life Underwriter designee. He specializes in retirement planning, estate planning, and business planning. 

Mr. Sacchetta is a member of the Estate Planning Council of Lower Fairfield County and the National Association of Estate Planners & Councils (NAEPC). He is a qualifying member of the Million Dollar Round Table, the Premier Association of Financial Professionals®. 

Mr. Sacchetta was born and raised in Connecticut. He graduated magna cum laude from Connecticut State University in New Britain, received his MBA from Fordham University in New York City, and his Chartered Life Underwriter (CLU) designation from the American College in Bryn Mawr, Pennsylvania. He is a life member of the U.S. Tennis Association and a member of the U.S. Golf Association. He is fluent in Italian. 

Mr. Sacchetta was recently named in the newly released editions and has been named in multiple previous editions, of the Marquis Who’s Who in Finance and Business, the Marquis Who’s Who in the East, the Marquis Who’s Who in America and in the Marquis Who’s Who in the World. He has earned numerous industry awards and distinctions. He has been quoted in local and national media.

Learn More: https://www.cfig-wealth.com/  

Investment advisory services are offered through Continental Five Investment Group, LLC, a Registered Investment Adviser, 1555 Post Road East, Suite 206, Westport, Connecticut 06880

Recent News and Interviews 

• Pasquale Sacchetta Discusses Market Risk:

https://authoritypresswire.com/pasquale-sacchetta-president-of-cfig-wealth-management-interviewed-on-the-influential-entrepreneurs-podcast-discussing-market-risk/

• Pasquale Sacchetta Discusses Interest Rate-Inflation Risk:

https://authoritypresswire.com/pasquale-sacchetta-president-of-cfig-wealth-management-interviewed-on-the-influential-entrepreneurs-podcast-discussing-interest-rate-inflation-risk/

Media Contact
Company Name: Marketing Huddle, LLC
Contact Person: Mike Saunders, MBA
Email: Send Email
Phone: 7202323112
Country: United States
Website: https://www.AuthorityPositioningCoach.com