How HNWI’s Balance their Financial Portfolios

Retirement advice from Andrew Kyriacou

Retirement Advice from Andrew Kyriacou

Throughout his career, retirement advice from Andrew Kyriacou has focused on HNWIs. 

HNWI = High Net Worth Individuals

Basically, an individual that has his financial income above $1 million is considered as High Net Worth Individual.

This income is calculated from his or her liquid assets. They choose different investment plans for balancing their financial portfolios. High Net Worth means the high rate of income taxes on your annual income. For managing their HNW they start using their money in several investment plans so that they can get the benefit of less tax. There are many tax deferred plans available that can save you from paying high income tax costs.

Andrew Kyriacou specializes in helping HNWIs get the most out of their money by minimizing the tax that is paid on their income. However, these same strategies can often be used by people who are NOT HNWIs.

Start a 401K

Andrew Kyriacou says that for balancing your high net worth the HNWIs can choose from the category of tax deffered plans. When a HNWI is going to retire from their job then they really need the right retirement plan. Andrew Kyriacou suggests a 401K plan for the people who want to save for retirement. Retirement advice from Andrew Kyriacou is clearly defined that employees should adopt a 401K plan as soon as possible. It is a perfect way of saving money for your retirement.

Your paid premiums are sheltered from income taxes. This is the main reason for the 401K plan’s popularity. Andrew Kyriacou approves 401K plans as a choice of a wise and smart investor who cares for their money. Preparing in advance for the upcoming times is always better than crying in worst financial conditions. 

Retire in style - Andrew Kyriacou
Set yourself up for an easy retirement by learning from HNWIs.

Maintaining a good balance for your financial portfolio is really a task of great responsibility. Select the most profitable plan but remember that there may be a lot of risks if you are trading in mutual funds. Investing in certified company insurance that shelters your investment and saves your funds from the eyes of income tax is a better option if you are an HNWI. Don’t try to be over smart and get advice from an expert such as Andrew Kyriacou. The expert advice will always guide you to right way towards the perfect plan for your investment. So in this way, the HNWIs balance their financial portfolio and live a royal life free of stress and worries.

5 Ways to Save for the Future

Andrew Kyriacou - Retire to the Maldives

Introduction

Saving for the future is important as it provides cover and financial safety for uncertainties in the future. There are many tools and ways to save for the future. This article provides some of Andrew Kyriacou’s tips for saving for the future which are as follows:

Open an Individual Retirement Account (IRA)

An IRA is an account opened by a financial institution which allows the account holder to save for retirement with tax-free growth or tax-deferred option. There are two basic types of IRA- traditional and Roth which offer immediate tax savings or tax-free withdrawals when the money is needed by the individual after retirement. The money in the IRA grows in a tax-deferred basis. The IRA helps the money compound faster, thereby creating a corpus for retirement. The government also promotes IRA by incentivizing the low and middle-income group through means of tax credit, known as the savers credit. Individuals can seek help and guidance from experts like Andrew Kyriacou’s tips which can prove helpful in planning for future savings.  

Become a Part of 401(k) Plan

The 401 (k) plan is an employer-promoted and sponsored retirement plan. It provides the individuals with an option of putting the money in the plan which compounds on a tax-deferred basis, to create a retirement corpus in the long-run. Employers provide matching contributions to the 401(k) plan to the employees who opt for this plan. This is an added incentive for the employees to participate in the 401(k) plan and save for the future.

Health Savings Account (HSA)

The HSAs are meant to create savings which may be needed for meeting health expenses in the future. Healthcare is becoming costly and it can wipe out major chunk of the future savings for individuals. Hence the HSA seems a good initiative to save as it allows the users to contribute money on pre-tax basis and withdraw the money in future on a tax-free basis, provided the money has to be used only towards health care expenses.

Saving for Children- 529 Plan Accounts

The 529 plans basically help individuals save for their children’s education and college expenses. It allows the individuals to make contributions in a tax-deferred account. The distribution of the eligible expenses is tax-free under this plan. Some specific states also provide additional incentives for making contributions to the 529 account.

Long-Term Stock Investing

Individuals can open a regular brokerage account for long-term stock investing. The longer the investment horizon, the greater will be the returns. However, individuals should seek professional consultation and advisory services before investing in stocks. Expert resources like Andrew Kyriacou’s tips can prove helpful for this.

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