November 20, 2014 Fact of the Day: Advisor Usage and Tax Implications
About 35 percent of households with less than $1 million of net worth currently ask a financial advisor for assistance in implementing tax advantaged investment strategies. And why is this important? Because many of these households may be young with high salaries….while their overall net worth isn’t over $1 million…..their salary may put them at a 30 percent or higher tax rate. If you are one of these individuals, be sure to talk to an advisor about the types of investments that will help you save for college or retirement….and still pay less in taxes. Only 21 percent of those between the ages of 36-44 have asked their advisor for help in this area….and this is probably the age group that would benefit the most.