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Rising costs, elevated interest rates, and ongoing market volatility can reduce purchasing power and impact portfolio performance, making it more important than ever for Tampa investors to maintain a diversified, tax-efficient investment strategy. For Tampa wealth managers, this kind of volatility makes asset allocation a moving target. That’s why the traditional 60/40 equities-to-bonds portfolio is under greater scrutiny—and why today’s research points toward adapting the strategy rather than abandoning it altogether.

The experienced Tampa investment advisors at Maggi Tax and Wealth Advisors are here to help clients navigate today’s changing economic environment with personalized investment and tax planning strategies. Read below for our expert advice on how to mitigate the effects of inflation on your portfolio:

What Investors in Tampa Should Focus On

As income, investment gains, and portfolio values increase, investors may face additional financial challenges, including:

• Increased capital gains tax liability
• Higher federal taxes on retirement income
• Higher Medicare premiums and other ancillary healthcare costs
• Reduced purchasing power due to inflation
• Greater market volatility requires periodic portfolio rebalancing

These factors place an even greater emphasis on tax education, proactive planning, and maintaining an investment strategy that can adapt to changing economic conditions.

How to Inflation-Proof Your Investment Portfolio

There are several strategies investors can use to help protect their portfolios from inflation while positioning themselves for long-term growth:

• Rebalance your portfolio toward shorter-term bonds
• Redirect a portion of your investments into inflation-sensitive assets
• Shift part of your equity allocation toward value-oriented sectors such as energy and healthcare rather than relying exclusively on long-term growth stocks

Inflation is changing the way investors approach asset allocation. A well-designed investment portfolio should consider not only market performance but also taxes, inflation, interest rates, and future retirement income needs.

Read More > Why Spreading Risk Matters More Than Ever

Three Strategies to Help Maximize After-Tax Returns

In addition to protecting your portfolio from inflation, investors should consider strategies that help preserve more of their after-tax income:

• Work with a financial advisor who incorporates tax-loss harvesting opportunities into your investment strategy
• Develop a long-term plan for Roth IRA conversions before retirement to potentially reduce future tax liability
• Use strategic asset allocation designed to maximize after-tax returns while supporting your financial goals

Read Similar > How Should Your Investment Strategy Change as You Approach Retirement?

Partner With Tampa Investment Advisors Who Take a Comprehensive Approach

At Maggi Tax and Wealth Advisors, our Tampa investment advisors combine personalized investment management with proactive tax planning to help clients adapt to today’s economic environment. Whether you’re planning for retirement or looking to preserve your purchasing power, we help you build a tax-efficient investment strategy designed to manage risk, reduce unnecessary taxes, and pursue long-term financial growth.

Contact Maggi Tax today at (727) 799-1701 to schedule a consultation and learn how a comprehensive investment and tax strategy can help you navigate inflation with confidence.

Private credit has become one of the fastest-growing segments of the investment world, and it’s attracting attention from both institutional and individual investors. If you’ve been hearing more about private credit in 2026, there’s a good reason: many companies that once would have gone public are now choosing to remain private, relying instead on private investors and private lenders to raise capital.

As access to these companies through public stock markets has declined, investors have increasingly turned to private credit funds in search of higher returns and greater diversification. While these investments have historically outperformed many traditional fixed-income options, today’s higher interest rates and slower economic growth have made it more important than ever to understand both the opportunities and the risks.

Read similar > How To Adjust Your Investment Strategy For the Year Ahead

What Is Private Credit?

Private credit refers to loans made by non-bank lenders to privately owned companies. Rather than purchasing publicly traded stocks or bonds, investors provide capital to private businesses through professionally managed investment funds.

The private credit market expanded rapidly after the 2008 financial crisis. Regulations introduced under the Dodd-Frank Act limited many types of leveraged lending by traditional banks, creating an opportunity for private investment firms to step in and provide financing.

Benefits of Private Credit Investing

• Potential for Higher Returns: Because investors typically commit their money for several years, private credit funds often earn an illiquidity premium. While diversified stock market investments have historically averaged around 9% annually over long periods, some private credit funds have targeted returns in the 10% to 12% range.’
• Floating Interest Rates Can Help During Inflation:Many private credit loans carry floating interest rates tied to benchmark rates established by the Federal Reserve. As interest rates rise, the income generated by these loans may also increase, making private credit more resilient during inflationary environments than many traditional fixed-rate bonds.
• Diversification Beyond Public Markets: Private credit investments generally aren’t subject to the same day-to-day price swings as publicly traded stocks. Adding private credit to a portfolio may help reduce overall volatility and provide another source of income that isn’t perfectly correlated with public markets.
• Senior Secured Lending Offers Additional Protection:Many private credit funds act as senior secured lenders, meaning they are among the first creditors entitled to recover assets if a borrower defaults. While this doesn’t eliminate risk, it may improve recovery prospects compared to other types of debt or equity investments.

Risks of Private Credit

Despite its growing popularity, private credit isn’t appropriate for every investor. Here are some of the pitfalls investors have to contend with:

• Limited Liquidity:One of the biggest drawbacks is illiquidity. Many private credit funds require investors to keep their money invested for three to seven years, making it difficult—or impossible—to access capital before the investment matures.
• Less Transparency:Unlike publicly traded companies, private borrowers generally aren’t subject to the same reporting requirements. Investors often rely heavily on fund managers to evaluate borrowers, making manager selection especially important.
• Increased Credit Risk During Economic Slowdowns:Many private credit funds lend to middle-market businesses that have fewer financing options than large public companies. During recessions or periods of elevated interest rates, these businesses may face greater financial pressure, increasing the likelihood of loan defaults.
• High Fees Can Reduce Returns:Private credit funds often charge management fees and performance-based compensation. Depending on the fund, these costs can significantly reduce net returns, sometimes resulting in performance that trails lower-cost public market investments.
• Manager Selection Matters:Unlike passive index investing, private credit performance depends heavily on the experience and underwriting discipline of the fund manager. Two funds investing in similar markets can produce dramatically different results, making due diligence essential before investing.

Read Similar: The Power of Staying Invested: Compounding in Uncertain Times

At Maggi Tax and Wealth Advisors in Tampa, Florida, our investment advisors help clients evaluate alternative investments like private credit in the context of their full financial picture. We focus on aligning investments with your long-term goals, tax situation, and retirement needs so you can make informed decisions with clarity and confidence. Call (727) 263-4884 today to schedule a consultation!

Financial trends arise in response to the fluctuating economy. High-net-worth individuals find creative ways to handle their investable assets as a means of survival and preservation in the coming days, and we’ve compiled some of the best tactics. This guide showcases the most popular retirement trends that are rising this year, with a full explanation from money managers in Tampa you can trust.

Schedule a meeting with Maggi Tax & Wealth Advisors for a reliable team of retirement income planners in Tampa.

More Freedom (And More Opportunities) With Smaller Employers

With an unstable future for the economy and constant hurdles being thrown into the mix, people are looking for more opportunities in places that were once barren. For the longest time, most retirement resources were limited to larger employers. Now, employers of smaller businesses are offering more to their employees.

Smaller employers in Tampa now have greater access to high-tier perks, like fiduciary oversight, competitive pricing, and admin privileges. Some business owners are self-taught, but the means for growth have now become more attainable.

Better Communication Between Policymakers and Employees

Policies for life insurance and healthcare insurance are also making a shift in 2026 to accommodate drastic changes in the economy. Rather than simply offering coverage for necessary expenses, many insurers are now acting as personal guides for individuals seeking ample protection in the future.

In addition, policymakers are updating their terms to be much clearer and comprehensible for a broader range of clientele. Some insurance companies may also begin offering extra plans, add-ons, and incentives to give policyholders financial wiggle room.

Greater Focus On Hands-On Portfolio Management

Most Americans open a retirement savings plan and settle for automatic contributions without any adjustments until retirement. In 2026, income earners are beginning to get hands-on with their investment portfolio and strategize for their future retirement.

Some ways that people in Tampa are taking control of their savings is through:

• Yearly portfolio management check-ins
• Portfolio risk management
• Layered Roth conversions
• Compounding investments
• Larger contribution amounts (or extra contributions)

Expanding Into More Comprehensive Wealth Planning

Planning for retirement isn’t just about how you handle your savings. Retirement encompasses multiple areas of expertise, which is why employees are looking into comprehensive wealth planning in Tampa.

Comprehensive wealth planning includes:

• Tax planning and mitigation
• Estate and legacy planning
• Private asset allocation
• Budgeting current expenses
• Charitable remainder trusts
• Charitable unit trusts

Stay On Top of the Latest Retirement Trends With Maggi Tax & Wealth Advisors. Schedule a Consultation Today!

Is it time to re-evaluate your retirement strategy? Trust Maggi Tax & Wealth Advisors for professional investment planning in Tampa. Call (727) 799-1701 today to schedule a consultation, and we can help you find and review current retirement trends that work best for you!

Has the current state of the economy foiled your plans? You’re not the only one. People throughout the country are in an uproar about being thrown into a less-than-ideal financial situation. Everyone has been coping differently, from making frivolous purchases for mental health boosts to being overly cautious about spending in general. But there’s an even better way to fight back during these trying times. This guide explores the trend of “revenge saving” and how it can save you from financial strain.

Trust your local money managers with a financial re-evaluation. Schedule a meeting with Maggi Tax & Wealth Advisors today for expert private wealth management in Tampa.

The Basic Concept of “Revenge Saving”

As dramatic as it sounds, revenge saving is a person’s instinct to lock back in after stepping out of their financial plan in response to economic distress.

We all feel the urge every now and then to let loose and enjoy ourselves, and that feeling tends to surface when the world begins to dip into chaos. It’s a natural response, and one that you shouldn’t feel guilty about. The important thing is not to give up on your goals and vow to make amends.

That’s the spirit of revenge saving.

High-net-worth individuals in Tampa are revenge saving to make up for the lack of contributions during their period of overspending. As long as you know how to implement this strategy with your investable assets, it’s entirely possible to bounce back through revenge saving.

Step One: Re-Evaluate Your Financial Goals

Are your financial goals the same since your initial portfolio construction? If you’ve had changes in your income, expenses, or lifestyle, you might want to update your financial goals to better fit your needs (or at the very least, make them more realistic).

The fluctuating economy has made it difficult for many income earners in Tampa to meet their original goals and keep their assets under management. Updating your plan to include more attainable financial goals and buckle down on risk management can help you maintain a satisfying sense of accomplishment even during more challenging times.

 

Step Two: Track Your Spending Habits

Inflation is every HNWI’s worst enemy, but nothing that a small adjustment can’t fix. Tracking your current expenses will help you determine how much of an adjustment to make and how much you can comfortably dedicate to investment management. People who are revenge saving in Tampa are cutting out unnecessary expenses like unused subscription services and limiting the number of fast food trips a week.

Step Three: Start With a 30-Day Plan

Instant gratification is a great motivator. It can be hard to keep up with a financial plan when you won’t taste the sweet fruits of your labor for years from now. Kickstart your revenge saving journey with a 30-day goal. You’ll see the difference in your efforts much sooner and convince yourself to keep up the momentum!

Get Back On Track With Your Financial Goals. Meet With Maggi Tax & Wealth Advisors Today!

Update your financial plan with reputable wealth managers in Tampa. Call Maggi Tax & Wealth Advisors today at (727) 799-1701 or schedule a consultation online to get back on track with your retirement savings with professional income planning services near you.

Plans change. That’s inevitable, even for strategies that you’ve spent hours (or days) finalizing. Most people would say that they don’t have time to re-evaluate and just leave it at that. But stopping for a mid-career check can result in thousands more saved up for your retirement income. This guide will help you decide if you’re still on the right track or if you’re behind on your retirement savings.

Meet with local money managers that you can trust for income planning in Tampa! Schedule a consultation with Maggi Tax & Wealth Advisors today.

Tracking Retirement Savings By Age Group

If you’re looking for a simple metric, you can refer to this guide on ideal retirement savings amounts based on age:

Are you in line with this chart? If not, you can still meet your next goal with professional guidance. Our team of knowledgeable wealth advisors helps high-net-worth individuals in Tampa re-evaluate their finances and catch up on retirement savings.

The “Rule of 25” Calculation Strategy

Before meeting with an investment planner in Tampa, you can use the Rule of 25 for a general measure of how far you are in your retirement savings goal. You don’t need to be a mathematician to try out this formula, either!

Take your desired yearly salary in retirement, and multiply that by 25. This is basic math that you can do anytime on your phone’s calculator in just mere seconds.

Am I Falling Behind? Top Signs It’s Time to Re-Evaluate:

• You’re not saving at least 15% of your annual income. Any less than that amount is almost guaranteed to not be enough to meet your retirement goals.
• You’re only meeting your employer’s match. Employer-matched contributions are nice, but they’re usually not enough on their own. You will likely need to exceed this amount for decent retirement income.
• You’re using your raise for anything but saving for retirement. Many people see a raise as a reason to splurge on wants over needs. You could easily reach your retirement goals if you dedicate the extra money to funding your savings while keeping your regular budget the same.

Expert Strategies For Catching Up On Retirement Savings:

• Raise your contribution amounts to 15% of your yearly income. If that is not feasible, you can increase your contributions by 2% each year until you reach that goal.
• Utilize your catch-up contributions. You’re able to contribute extra funding past the maximum limit if you are at least 50 years of age. This is an effective way to change your investment strategy as you approach retirement.
• Meet with a skilled retirement income planner near you. These professionals can evaluate your retirement goals and current financial situation to devise a custom retirement savings strategy for you!

Learn more > How Can A Wealth Advisor Help You Plan A Secure Tampa Retirement?

Meet With Maggi Tax & Wealth Advisors Today to Adjust Your Retirement Savings Strategy!

Don’t fall behind. Maggi Tax & Wealth Advisors is here to help you reach your retirement savings goals in Tampa with expert private wealth management! Call (727) 799-1701 to schedule a consultation or to ask about our investment planning and income planning services.

Anyone making money knows how quickly taxes can change. That goes for every type of tax. High-net-worth individuals in Tampa should be aware of what to expect for estate taxes in the near future for proactive planning. This guide covers everything you need to know about future estate tax changes and what they mean for high-net-worth retirees in Florida.

Maggi Tax & Wealth Advisors stays informed on the latest tax developments to help you with estate planning under the guidance of experienced income planners near you. Schedule a consultation today!

There Will Be Less Urgency For Gift Contributions

Good news! You no longer need to feel rushed in getting your gift contributions sorted out. Gift contributions will be seeing an increased limit, and the changes are permanent. High-net-worth retirees in Tampa now have more time to fulfill their estate plan goals without the added pressure of timelines that threaten to “sunset” exemptions.

Basically, you’ll now have a way to support your family in a way that works best for you without the financial strain and time constraints.

Read more > From Family Planning to Retirement Saving: How We Help You Plan For Every Stage

State-Level Estate Taxes Will Persist

The bad? Future estate tax changes won’t account for state taxes. The coming changes are on a federal level, so any state estate taxes that affect you will continue to impact your portfolio management. However, this is still good news for those living in Tampa, seeing as how Florida does not practice estate taxes. This is just something to keep in mind should you choose to move to another state in the future.

High-Net-Worth Individuals Get a Small Break

Ever wish you could keep the taxes on your investable assets low, knowing that future increases are imminent? The estate tax changes that are predicted to affect high-net-worth retirees in Tampa can be used to your advantage. The leeway being offered in the coming changes gives retirees a chance to move their appreciating assets out of their estate to preserve their current value and mitigate taxes.

Want to know more tax strategies for effective private wealth management? Read our guide > Can Advanced Retirement Planning Minimize Both Income And Estate Taxes?

What Can You Do In the Meantime? A Reassessment

These changes have yet to occur, but that doesn’t mean you can’t get started now. Here’s what you can do to plan for the future estate tax changes in Tampa:

1. Meet with a trusted estate planner in Tampa for expert guidance in making big changes to your legacy plan.

2. Make edits to your will to accurately reflect your current wishes based on your financial standing and projected estate tax changes.

3. Update your beneficiaries, should you reconsider after knowing about future estate tax changes.

4. Add a trusted contact to your estate if you haven’t already, as additional risk management when navigating future estate tax changes.

Learn more > Why Seniors Should Add A Trusted Contact With Their Wealth Planner

Are You Prepared For Future Changes? Meet With Maggi Tax & Wealth Advisors For Proactive Planning With Expert Income Planners!

Don’t wait until it’s too late. Meet with experienced money managers in Tampa when you call Maggi Tax & Wealth Advisors at (727) 799-1701 to schedule a consultation. We specialize in estate planning services to keep your assets under management with future changes in mind.

The sweet spot for early retirees in Tampa usually covers the ages between 55 and 60. This is the age gap when first-time seniors start to see changes to their retirement options, including rules for 401(k) rollovers. This guide reveals what 401(k) rollover changes are for early retirees and how to approach retirement income planning as a high-net-worth individual.

Need an expert on advanced retirement planning in Tampa? Schedule a consultation with your trusted money managers at Maggi Tax & Wealth Advisors today!

Read more > Can Advanced Retirement Planning Minimize Both Income and Estate Taxes?

Introducing the Rule of 55

Once you reach the right age, you need to know about the Rule of 55. This bit of insight can get you penalty-free withdrawals, so more of your investable assets go into your wallet and less to taxes.

In Tampa, the Rule of 55 allows you to make withdrawals from your 401(k) penalty-free if your employment ends after you turn 55 years old. The penalty for early withdrawals is usually 10% of your savings, and so avoiding this fee can save you a great amount. The catch? Rolling over your 401(k) cancels out this benefit, so choose your time wisely!

Important Note: You can only void the 10% penalty fee with the Rule of 55 for 401(k) accounts with your most recent employer, not your past accounts.

Increased Catch-Up Contributions

Looking to make up for lost savings right before retirement? Catch-up contributions are another early-retirement benefit that gives you more room for extra savings during your senior years, and the amount you can contribute increases after you reach age 60.

Early retirees in Tampa between the ages of 50 and 59 may qualify for a catch-up contribution limit of $8,000.

Seniors in Tampa ages 60-63 may qualify for “Super Catch-Up” contributions with an increased limit of $11,250.

Expert tip: Combining the benefits of a 401(k) rollover and catch-up contributions is an effective strategy for doubling down on your retirement income or funding your estate planning goals.

Early Retirement 401(k) Rollovers: What to Watch Out For

You have a lot of options when rolling over your 401(k) early in retirement, but it’s best to proceed with caution. It’s easy to make a mistake, and some mistakes are irreversible.

1. Rolling over your 401(k) too soon can negate the Rule of 55 and lock you out of penalty-free withdrawals until you reach age 59 ½ in Tampa.
2. 401(k)s can be rolled over into another 401(k) account under a new employer. This is a great tactic for maintaining tax-deferred growth.
3. Before going through with a 401(k) rollover, the decision between transferring funds to another 401(k) or a Roth IRA should be taken into serious consideration.

Learn more > 401(k) Rollover Mistakes You Should Avoid

Before You Roll Over, Hire Your Trusted Wealth Planners at Maggi Tax & Wealth Advisors!

Need help navigating the intricacies of early retirement savings? Maggi Tax & Wealth Advisors specializes in 401(k) rollover management in Tampa! Call (727) 799-1701 today to schedule a consultation and to learn more about how proper investment planning can bring you a smooth retirement.

Some things shouldn’t be a one-time thing. Roth conversions are a perfect example. Converting your savings for tax-free growth is a smart decision, but it’s only a step in the right direction. Find out why high-net-worth individuals are layering their Roth conversions and what that means in this comprehensive guide. Start planning your future with income planners you can trust for private wealth management in Tampa, here at Maggi Tax & Wealth Advisors!

The Benefits of Layered Roth Conversions In Tampa

A Roth conversion can be the best choice you’ve ever made for your retirement planning. But why not make a bunch of “best” choices? Most people in Tampa don’t realize that they can convert their savings more than once, and that it’s a viable investment management strategy for ensuring a wealthy retirement.

Lower Your Taxable Income

Reserving Roth conversions for lower-earning years can reduce your total taxable income. This is especially true for the times you convert before receiving RMDs and Social Security payments.

Optimize Risk Management

Phasing out your Roth conversions over multiple years allows you the flexibility to focus on worthwhile risk management strategies. Wealth advisors in Tampa consider layered Roth conversions for effective portfolio management.

Stay In a Lower Tax Bracket

Did you know that conversions can impact your tax bracket placement? Layering out your Roth conversions into smaller portions over time helps keep you in a lower bracket with fewer taxes to pay.

Keep Lower Health Insurance Premiums

A lesser-known fact about Roth conversions is that they can affect your Medicare premiums. That’s because your premiums are calculated based on gross income, and the amount of your Roth conversion is a quantifiable indicator of your available assets.

Why One-Time Roth Conversions Might Be a Mistake

To review, one-time Roth conversions made in larger amounts have the potential to negatively impact your income planning:

1. A substantial one-time Roth conversion can raise your income and place you in a much higher tax bracket with greater fees.
2. One-time Roth conversions in large amounts can result in increased Medicare premiums calculated at a higher gross income.
3. Roth conversions are permanent, and a big one-time conversion comes at a higher risk of costly financial mistakes that can’t be undone.
4. Converting a large amount during a high-income year often results in higher tax fees.

The key takeaway here is that making a one-time Roth conversion in a big lump sum comes with greater risks and more taxes paid. Layering Roth conversions is an effective strategy often recommended by money managers in Tampa for reducing the amount of taxes paid over time.

Learn more > What Are The Most Important Considerations During An IRA Conversion?

Let Us Plan Your Roth Conversions For Maximum Retirement Pay. Schedule a Consultation With Maggi Tax & Wealth Advisors Today!

Before committing to a Roth conversion, meet with our trusted team of investment planners to talk strategy. Schedule a consultation with Maggi Tax & Wealth Advisors today or call (727) 799-1701 to learn more about our Roth IRA conversion services near you. We’ll discuss how a layered Roth conversion can work for you.

Wealth planning isn’t just for the retirement you envision for the distant future. It’s something that benefits you now, and at every significant stage in your life. This guide shows how our reputable team of wealth advisors helps you chart out your entire life’s journey from family planning to retirement savings and everything that happens in between.

Reach out to us for your next big life event! Maggi Tax & Wealth Advisors specializes in comprehensive income planning with qualified money managers based in Tampa, FL.

Setting Goals Early In Your Career

Starting a new career as a young adult is a life-changing experience that sets the course of your future. Even if you happen to divert to a different career path down the road, the concept of saving for retirement remains the same. The best time to start building retirement income with smart investment planning is the moment you begin making money.

Meeting with a wealth advisor in Tampa during the early stages of your career can help you:

• Set clear and attainable financial goals
• Build an emergency backup fund
• Manage any leftover debt
• Start portfolio construction
• Find the right health insurance

Learn more > What Should I Bring To My First Meeting With An Investment Manager In Tampa?

Long-Term Planning With a Family

Marriage is a beautiful part of life, and equally beautiful children are usually quick to follow. What started as wealth planning for one now becomes a shared wealth plan for many. It’s critical to meet with a trusted income planner in Tampa, FL, to adjust your long-term investment plan to account for your spouse and kids.

Wealth advisors in Tampa who specialize in family planning can help you with:

• The 529 higher education savings plan
• Estate planning with beneficiaries
• Life insurance policies
• Maximizing retirement plan contributions

Preparing For Retirement In Tampa

Finally, you should meet with a wealth advisor in Tampa in the few years leading up to your expected retirement date. This window is your last chance to catch up on retirement savings contributions and reduce tax impact during retirement with professional portfolio management and diversification.

When do people retire in Tampa? Seniors typically begin submitting paperwork for their retirement between the ages of 50 and 65.

Wealth Management Through Retirement

Your last meeting with your dependable wealth advisor in Tampa doesn’t have to end when you retire. Private wealth management is still prevalent while you’re living out your retirement as the economic landscape continues to fluctuate.

Regularly seeking counsel from your wealth advisor during retirement can help you fine-tune important aspects of your retirement income:

• Healthcare expenses
• Spending budget
• Withdrawal amounts
• Housing and transportation

Read more > How Should Your Investment Strategy Change As You Approach Retirement?

Maggi Tax & Wealth Advisors Is With You Every Step of the Way. Schedule a Consultation Today!

Our skilled and talented team of income planners at Maggi Tax & Wealth Advisors is here to help you with long-term planning using our estate plan services and retirement income expertise for high-net-worth individuals in Tampa, FL. Contact us today at (727) 799-1701 to schedule a consultation!

You have an estate planner that you can trust, but do you have a trusted contact close to you that they can call for emergencies? It’s one thing to have a contingency plan, but who’s going to get the ball rolling when time is of the essence? Income planning isn’t just about money. It’s about securing your future, and you need all the help you can get. This guide emphasizes the importance of having a trusted contact with your wealth planner as a senior in Tampa.

Make sure every aspect of your retirement income plan is covered. Schedule a consultation with Maggi Tax & Wealth Advisors today for a team of money managers in Tampa that you can count on!

Learn more > How Can A Wealth Advisor Help You Plan A Secure Tampa Retirement?

What Is the Role of a Trusted Contact?

Is it really necessary to have a trusted contact? Experienced wealth managers will argue that it’s an integral part of income planning for retirement. Think of it as a first line of defense to protect your legacy.

As seniors get older, they become prime targets for fraud and exploitation. A trusted contact is someone you can rely on to keep your actions in check. This contact is typically someone who is close to you, rather than a “stranger” with qualifications.

Trusted contacts are authorized individuals whom Tampa wealth advisors reach out to when they need a way to reach you.

Top choices for trusted contacts among seniors in Tampa:

• Spouses
• Siblings
• Adult children
• Aunts to uncles
• Close friends
• Neighbors

Your First Line of Defense Against Financial Exploits

Scams, exploits, and fraud are incredibly common in Florida, and retired seniors are usually the easiest targets. When your wealth advisor in Tampa notices strange activity involving your investable assets, they reach out to you for confirmation of these transactions. Since these scenarios are usually time-sensitive, your wealth advisor will reach out to your trusted contact if they can’t reach you.

Top signs of fraudulent activity:

• Unauthorized money transfer
• Suspiciously large withdrawals
• Abnormal investment trades

Someone to Count On When You’re In the Hospital Bed

Having a trusted contact (despite being authorized) isn’t the same as having a Power of Attorney. Still, it’s advised to have a trusted contact established in case you ever end up incapacitated at the hospital.

Without a trusted contact, a wealth advisor may resort to freezing your financial accounts to keep assets under management when you’re unable to make important decisions. With a trusted contact, your wealth advisor is able to talk to someone who can reliably communicate your intentions.

Seniors in Tampa are constantly facing health challenges, but having a trusted contact streamlines communications so that wealth advisors can continue to perform their duties.

An Additional Safeguard In Volatile Markets

Long-time residents in Tampa know how quickly Florida’s stock market can fluctuate. Seniors are frequently at risk of losing their hard-earned retirement income in volatile markets. Trusted contacts can act as a mediator, making key decisions for investments as a way of risk management when you’re unsure of how to act.

Have a Backup For Everything. Meet With a Knowledgeable Wealth Planner at Maggi Tax & Wealth Advisors!

Proper retirement planning starts with the right people. Schedule a consultation with Maggi Tax & Wealth Advisors today at (727) 799-1701 for income planning services that account for everything. Meet our team and secure your retirement!