Swaine & Leidel Wealth Services
David Leidel is a partner in the firm Swaine & Leidel Wealth Services. He helps retirees, families, high net-worth individuals, and business owners achieve their retirement and financial goals. Having worked with retirement investors for many years, he knows first-hand the difference that personal guidance and solutions can make for your financial future.
An experienced financial professional, David focuses on helping his clients build, protect, and preserve their wealth. Retirement is a moving target, so investors need dynamic strategies that are tailored to their evolving financial needs and circumstances. As a strong client advocate, David understands this as well as the goals, challenges, and risks which you and other retirement investors face. He begins every client relationship with a careful analysis of individual objectives, needs, time horizon, and other important variables in someone’s complete financial picture. He specializes in developing personalized strategies for legacy wealth planning, estate planning, and retirement income objectives.
David has a Master’s degree in Business Administration from Auburn University and is a graduate of Stetson University. He is also a federally licensed tax practitioner and looks forward to helping you achieve the financial security and peace of mind you desire in your retirement years.
MBA, Business, Auburn University
BBA, General Business and Finance, Stetson University
Assets Under Management:
Swaine & Leidel Wealth Services is a Registered Investment Advisory firm. Information shared on this site is for general information purposes only. You should consult your financial, tax, and legal advisors for your specific issues.
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This will depend on your state's laws surrounding credit protection. Some states like Florida protect your primary residence from collectors. Individual Retirement Accounts (IRA), annuities and cash value life insurance policies are usually protected as well. An attorney may be able to draft a creditor protected trust, again depending on your state.
Most studies I've seen suggest that someone who is 65 years old today can expect to spend up to $250k on health care in retirement. That number will grow at a rate of approximately 7% in years to come. Traditional long-term care policies are pretty expensive, if you can find a good one at all. Today, most long-term care insurance is offered as a rider on an annuity or life insurance contract. I like this better because if I don't need to access the funds for long term care, then the money will pass to a beneficiary. The insurance companies also offer an enhanced benefit for long term care meaning that if I put $250,000 into a life or annuity policy, I will have a $500,000 long-term care benefit for example. Depending on how much long-term care insurance you may need will determine which vehicle is best for you.
Depending on how much money you have to invest will determine if an investment option is possible. There are some people out there that can self-insure against long-term care costs, but you would need to have a liquid net worth between $2 - 5 million.
Without knowing what you are doing with your current Roth account at your bank, robo-advisors may offer you something better. While Betterment has a lot of popularity, other firms offer robo services as well, i.e Charles Schwab. You can research as many you like and decide which is the best fit.
They should walk you through a risk tolerance assessment to help determine which model is best for you. Then your account will be on auto pilot. They will keep you informed about market events and electronically "hold your hand" when necessary. The biggest benefit to the robo-advisor is that you will get institutional style management at a fraction of the cost of a traditional advisor. The downside is that you will be confined to a model, but for something like a Roth which likely has a long-term time horizon, the models will offer you good diversification and reduce your risk.
Congratulations on taking your first step toward building (or growing) your money. Stocks can be great investments, but you do need to understand what you are doing. My advice, 1) stay away from penny stocks 2) listen to your gut 3) be careful where and from who you get advice. There is no get rich quick stock, but you may get lucky occasionally. The market is not a casino. People on TV are entertainers and not financial geniuses. I heard an analyst at a big mutual fund company say one time that he gets his best investment ideas from his kids. Look at the goods and services you use and what your friends use, they might be great investments. Lastly, don't get in the weeds and worry about knowing everything. You will learn as you go. Read books and articles by proven investors and make sound investments. Remember, when you buy a stock, you are buying into a company. Good luck!
This seems to end up as the opinion of the one answering this kind of question. If you ask tax preparers, they want to reduce current income taxes and defer growth. Financial advisors fall in the middle depending on their background and experiences. I applaud you for having six months of emergency funds and would ask you to consider the other possible events that could cause you to need money prior to retirement. Also, do you believe tax rates will go down by the time you retire?
My advice is normally this: 1) get the maximum match from your employer through your 401k. 2) If you are able to contribute to a Roth then do the maximum contribution that you are allowed. 3) Look for other ways to grow your non-emergency money in the most tax efficient manner, i.e. growth stocks, zero coupon municipal bonds (if you can find some good ones), and whole/universal life insurance. You want to make sure that you can access money prior to retirement without IRS penalties and taxes. You also want to make sure that you do the best you can to reduce or eliminate taxes. Tax deferral simply puts off what you know about taxes today for the unknown taxes of tomorrow. It also locks you out of your money until you are 59.5 years old.