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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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!
What is the purpose of the life insurance policy? Life insurance policies can be used for death benefit or cash accumulation. If you need $300k of death benefit, then it’s a good idea. Conversely, if you plan to pile in a bunch of cash to create a tax-free account, then it could be a good idea as well. Life insurance needs to be constructed correctly for it to work the way you want it to. You need to be careful that it is built for the purpose you are trying to accomplish. Death benefit and cash accumulation are two different kinds of policies.
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.
Annuitization means that you will leave the money to the insurance company. When you annuitize, you exchange your money for a guaranteed monthly check, like social security. The check will be the same amount until you pass away or the term runs out. Lump sum could trigger some serious tax consequences. As for putting a floor under the market, the answer is yes. You may have to move the money to a different product though, because a variable annuity will not put a floor under the market.