Spring Cleaning Your Finances

April 2021

In This Issue...

Save the Date!

2020 Tax and Contribution Deadline Extended!

Are You Ready to Start Planning For Retirement?

How to Organize Your Financial Life

Did You Know?

Financial Documents: What To Save And What You Can Throw Away

Save the Date!

10th Annual Shred Event 6/12 9-11am

2020 Tax and Contribution Deadline Extended!

If you were worried about filing your taxes by April, you're in luck. The IRS and New York State have both extended the April 15th tax-filing deadline, pushing it back to May 17th. Individuals also have until May 17th to make a 2020 contribution for an IRA, Roth IRA, and HSA.

Visit our website to stay up to date on LPL Financial's Market Insight!

Stay Connected!

We want to hear from you! What topics would you like to read about in an upcoming newsletter? Retirement? Estate Planning? 401(k)s? Let us know!

Are You Ready to Start

Planning for Retirement?

A successful retirement is the highest financial priority for many people. Because of the long-term nature of retirement and all of the variables that go into determining potential success or failure, it is often the most difficult financial goal for which to plan.

Retirement Planning is the process of creating a realistic strategy for funding your retirement that balances current financial needs with expected retirement needs many years into the future. At Saratoga Financial Services, we utilize WealthVision to see how on track you are for your retirement goals. A cash flow projection gives you a detailed view of retirement, along with a stress test and monte carlo reports.

The Stress Test lets you look at the behavior of your retirement plan in the worst of market conditions

Monte Carlo Analysis runs multiple simulations of your retirement plan against possible future market conditions. Looking at the results can give you a measure of confidence that your plan will succeed in a wide variety of conditions

Our WealthVision Comprehensive Financial Plan is designed to help bring confidence and clarity to your most important financial goals.

How to Organize Your Financial Life

When it comes to Spring Cleaning, most of us probably think of decluttering our closets and homes. However, we should also be decluttering our finances. Reviewing your monthly budget, cancelling any subscriptions/memberships you don’t use, and reviewing your credit score are just a few ways to to get your finances in order for the year and for your future. Click here for more!

Did You Know?

In 2019, 14.4 million consumers became victims of identity fraud - that’s about 1 in 15 people

Overall, 33 percent of U.S. adults have experienced identity theft, which is more than twice the global average

More than one in four older adults, aged 55 and over, have experienced identity theft

Identity theft is the most common consequence of a data breach, occurring 65% of the time

What can you do to avoid becoming the next victim of identity theft?

Change your passwords regularly, check your bank accounts and credit accounts frequently for any fraudulent transactions, and discard documents with your personal and financial information safely.

Source: identityforce.com

Financial Documents: What To Save And What You Can Throw Away

The birds are chirping, it's getting *slightly* warmer, the snow has melted - Spring is here! Have you started "spring cleaning"? This is a great time to sort through all of your documents and decide what to keep and what you can shred. Not sure where to start? Click here for an article from Forbes that can help make it easier for you to decide. The next step? Bringing your ready to be destroyed files to our 10th Annual Shred Event in June!

Robert Schermerhorn, CFP®

Jamie Usas, CFP®,

Operations Manager

Amanda Friedman,

Wealth Consultant

Andrew Chapman, CFP®,

Operations Research Associate

Lindsay Duma,

Office Coordinator

Saratoga Financial Services

18 Division Street, Suite 305

Saratoga Springs, NY 12866

Phone: 518-584-2555

www.SaratogaRetire.com

Securities & advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Saratoga Financial Services and LPL Financial do not provide legal advice or services. Please consult your legal advisor regarding your specific situation.