Expertise.com
Voted Best Financial Advisor

Starfox Financial Services has been recognized as one of the Best Financial Advisors in The Woodlands by Expertise.com. We were chosen from our ratings in Availability, Qualifications, Reputation, Experience, and Professionalism.

Thank you to our family, friends, and clients for your continued support! We are so thankful to those who make receiving honors like this possible.

Click the button below to read the article published by Expertise.com

Four Tips To Help Weather Market Volatility
Plan. Understand. Stay Calm. Be Prepared.
#1: Have a Plan

The most important part of any long-term financial strategy is having a strong plan. Especially as you prepare for and approach retirement. It’s crucial to know what benchmarks you’re aiming for to ensure you’re on the right path, and what to do when you reach those benchmarks. Remember, a solid plan pays dividends over the years.

#2: Expect Pullbacks

The market is inherently volatile. It goes up and down. If it didn’t, there wouldn’t be any reward for investing. Even in the best years, there are pullbacks that can worry investors. However, these pullbacks are a natural part of the system. Without them, we’d see countless unpredictable bubbles and terrible crashes. Accepting that the market fluctuates is a key factor for long-term success.

#3: Don’t Panic

That being said, sometimes, things look extremely bleak and investors have a tendency to panic. This almost never ends well. For example, in 2020, when the pandemic first swept the globe, the market lost 34% of it’s value. However, by the end of the year, the market gained 16%. *It can be difficult, but staying the course and sticking to your plan is the only way to ensure long term success.

#4: Have a Safety Net

As you’ll be drawing from your investments come retirement, it might seem like taking a loss is the only option you have when the market takes a bad turn. This is why having a 3 to 6-month safety net is so important. Should the market fall as it did in 2020, having a safety net not only ensures you don’t take a loss, it leaves your money in the market for the rebound rally that generally follows such events.

Putting it All Together

Putting this all together may seem complicated, but at Starfox Financial Services, our team will work with you to create a plan that will weather the most volatile markets, and we’ll be here to guide you through both good times and bad. Start planning for your retirement by feeling out the Financial Planning Questionnaire!

Disclaimer: Starfox Financial Services, LLC makes no promises or guarantees. The information presented is general in nature and not specific to any investor. Starfox Financial Services, LLC does not give tax or legal advice. Please consult your advisor for how this may relate to you.
Financial Planning Questionnaire

Your Needs Are Different Now

Contact us today to learn how we can help you address your unique investment complications with the right planning and guidance.

Download Our Free Guide

Investors with sizable wealth face unique considerations. In our free guide, we break down who, what, and how to create a realistic plan to both sustain and enjoy your wealth for years to come.

Enter your details and download a printable guide about High-Net-Worth Investor Needs.

Best Financial Advisor in The Woodlands

The Starfox team is thrilled to announce we’ve been voted as one of the top financial advisor firms in The Woodlands!

We are over the moon to have placed in the top three! This recognition is especially meaningful to us since the votes are cast by you, our wonderful community, clients, and friends.

A big thank you from the entire team!

What Social Security Gives, Medicare, Taxes, and Inflation Take Away

The Social Security Administration revealed the cost-of-living adjustment will increase by 5.9% in 2022. The greatest increase in over 40 years. However, be prepared for Medicare, taxes, and inflation to eat away at your adjustment.

The Social Security adjustment is not the only thing increasing in 2022. Medicare Part B, which covers doctors’ fees, and outpatient services, will also increase drastically. The trustees for the Centers for Medicare & Medicaid estimated this past summer that the premium would jump to $158.50. The government announced this week Medicare Part B standard premium will rise by 14.5%, making it $170.10 in the coming year, far above the estimate.

What does this mean for high-income retirees? The effect of rising Medicare premiums is even more consequential for those whose premiums tie to their income. These Social Security beneficiaries above the combined income thresholds will pay taxes on up to 85% of their benefits.

As inflation prompts higher annual benefit adjustment, more families will pay taxes on their benefits, resulting in an overall reduced net benefit.

These adjustments will continue to rise in the future. Consider consulting with our financial advisors to review how these changes may affect the course of your retirement. Schedule a consultation with one of our planning experts here.

 

Source: SSA.gov

How Medicare Part B Takes a Bite Out of Social Security COLA

Plan Accordingly

Speak with a Financial Planning Professional

Traditional IRA VS Roth IRA

An Individual Retirement Account (IRA) is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.

A Traditional IRA lets you postpone taxes and any earning that grow tax-deferred until you withdraw them in retirement. You can deduct the maximum annual contribution on your income tax return. For 2021 the maximum contribution limit is $6,000, or $7,000 if you’re 50 or older. You must begin taking required minimum distributions (RMD’s) from your account by April 1 of the calendar year following the year you turn 72 (age 70 ½ if you attained age 70 ½ before 2020). A Traditional IRA is best suited for retirees who expect to be in a lower tax bracket than they were in pre-retirement.
A Roth IRA lets you contribute after-tax dollars which grow tax-free and can be withdrawn tax-free. There are earnings limits but no required distribution at 72. The 2021 contribution limit is up to $6,000, or $7,000 if you’re 50 or older. Individuals age 59 1/2 or older holding accounts for at least 5 years can withdraw money without paying federal taxes. You pay taxes on your money upfront, let your money compound, and then withdraw in retirement tax-free.
Disclaimer: Past performance is not indicative of future results. Starfox Financial Services, LLC makes no promises or guarantees. Investments will go up or down depending on market conditions. The information presented is general in nature and not specific to any investor. Starfox Financial Services, LLC does not give tax or legal advice. Please consult your advisor for how this may relate to you.
Source: Charles Schwab

There’s Never Been a Better Time

You may not realize this, but building wealth to secure your long-term goals starts with one, simple step: Building good financial habits, now.

Saving and investing wisely. Managing debt. Controlling your spending. And defining what matters most in your financial life—for today and tomorrow—are the building blocks of a secure future.

And there’s never been a better time to lay that foundation.

At Starfox Financial Services, we’re ready to help you plan for your future. We know sometimes even thinking about financial stability can feel intimidating, especially if it means limiting the things that you’ve worked hard for. But with the right financial plan in place, achieving your goals of tomorrow doesn’t have to mean giving up what makes your life rich, today.

Wondering how it works? We can show you, or you can see yourself at the Start My Plan link below.

An emergency fund is money that’s set aside for unexpected expenses, such as a medical bill or loss of income. They allow you to cover these unplanned expenses, so you don’t have to use a high-interest credit card or take out a loan. Individuals should aim to save 3-6 months’ worth of their basic living expenses. Learn 5 simple steps to start your emergency fund today.

 

How to start:

  1. Determine your emergency fund goal
  2. Save money in a separate account away from day to day spending
  3. Set up automatic transfers until you hit your goal
  4. Put in a high-yield savings account
  5. Only use for emergencies

 

Calculate your emergency fund goal here

Starfox Financial Services is proud to announce Will Warren has successfully passed the Series 65 exam and is FINRA registered as an Investment Advisor Representative. The Series 65 is an exam and securities license required for individuals to act as investment advisors in the US. We continue to grow and advance our team’s knowledge to help meet our clients’ needs.
Congrats Will!

 

Read Will Warren’s Bio Here 

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