Top Financial Strategies Most People Miss Video from Savant Wealth Management

[Opening Music]

Narrator:
Download our complimentary guidebooks, checklists, and other useful financial resources at savantwealth.com/guides.

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James:
Hello everyone, and thank you for attending today’s webinar. Over the next 30 minutes, we’ll be discussing 10 Financial Strategies Most Professionals Miss. We’ll also be offering a complimentary financial review at the end, so stay tuned for that.

Before we dive in, here’s a bit of background on Savant. We’re a comprehensive, fee-only fiduciary working with clients across the nation through more than 43 offices in 19 states. Our advisory team is supported by advanced tax and legal specialists, allowing us to take a truly holistic approach to wealth management.

I’m joined today by my colleague, John Clark.

John:
Good afternoon, James.

James:
Good afternoon, John. John and I are both Certified Financial Planners and member-owners here at Savant. John has been advising professionals across the country for seven years, and I’ve been doing this for about 15. Our team has completed thousands of financial assessments over that time, helping individuals and families understand their goals and identify potential gaps in their planning.

John, would you like to kick us off with what we’ll cover today?

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Webinar Content

John:
Absolutely. This is a topic you and I have wanted to cover for quite a while. After working with many families on their financial plans, we’ve seen a pattern—there are several key strategies that often get overlooked.

We’ve identified 10 opportunities to share today—missed strategies that could reveal potential benefits in your own financial plan. We’ll keep it conversational and highlight what many professionals aren’t thinking about—but should be.

Let’s get started.

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Strategy 1: Consolidating Retirement Accounts

James:
First up is consolidating your retirement plan accounts. This is one of the most common areas where we see mistakes, especially as clients near retirement.

If you’ve worked for multiple employers, it’s likely you have several retirement plans. Managing different accounts with varying rules and custodians can get complicated.

While consolidation can simplify things, it’s important to be strategic. Avoid consolidating simply because a custodian or advisor recommends it—especially if it means moving from a low-cost employer plan to a high-cost retail IRA where the advisor earns commissions.

Using an independent, fee-only advisor can help ensure your best interests come first. They can help evaluate which accounts make sense to consolidate and how to leverage different custodians effectively. You can also use software tools to view accounts across custodians as one unified portfolio.

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The Big Beautiful Bill: Key Tax Law Changes

James:
Before we move on, let’s touch on some recent tax law changes. John, can you give us a quick overview of the new “Big Beautiful Bill” and how it impacts planning?

John:
Of course. We’re still digesting all the changes, but here are the highlights:

• The standard deduction increases to $15,750 for single filers and $31,500 for joint filers.

• Existing tax brackets have been made permanent, offering more flexibility for planning.

• The SALT deduction cap increases from $10,000 to $40,000 for households with income under $500,000—this may lead more taxpayers to itemize.

• You can now deduct up to $1,000 ($2,000 for joint filers) for charitable contributions, even if you don’t itemize—if they’re made in cash.

• The federal estate tax exemption will rise to $15 million, indexed to inflation.

In short, while estate taxes remain a concern for only a small number of people, income tax planning is critical for most professionals.

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Strategy 2: Roth Contributions in 401(k)s

John:
Many professionals mistakenly believe they can’t make Roth contributions in their 401(k)s because of income limits. But those limits apply to Roth IRAs—not Roth 401(k) contributions.

There’s no income cap for Roth contributions in employer-sponsored plans. As long as the plan allows for it, you can contribute up to IRS limits, either pre-tax, Roth, or a combination of both.

This strategy builds “tax diversification,” helping create more flexibility in retirement income planning.

James:
And if you’re retired or nearing retirement, Roth conversions can also be powerful—especially before RMDs begin.

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Strategy 3: Maximizing Contribution Limits

James:
Knowing and using your contribution limits can significantly impact your retirement readiness. For 2025:

• $23,500 standard contribution limit to 401(k)/403(b)

• $7,500 additional catch-up if over 50

• $11,250 special catch-up for those aged 60–63

Some professionals also have access to deferred comp plans or SEP IRAs for self-employment income. Combined, these strategies could allow you to defer over $100,000 in a year.

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Strategy 4: Strategic Charitable Giving

John:
Most people give out of cash without a plan. But if you’re over 70½ and making regular gifts, consider Qualified Charitable Distributions (QCDs) from IRA accounts—up to $108,000 annually.

James:
Or, if you’re younger, a Donor Advised Fund could help you deduct appreciated securities while avoiding capital gains.

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Strategy 5: Unified Portfolio Approach

James:
Managing accounts as a unified portfolio—rather than separately—helps control risk and optimize tax efficiency. Each account may have different rules, so consolidation isn’t always possible. Instead, manage them with a single coordinated investment strategy.

Ongoing rebalancing is key to controlling risk and maximizing long-term returns.

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Strategy 6: Rebalancing Regularly

John:
Rebalancing isn’t market timing—it’s maintaining your target allocation. For example, if stocks outperform and your portfolio drifts from 50/50 to 60/40, rebalancing brings it back in line, locking in gains and reducing future risk.

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Strategy 7: Estate Planning Fundamentals

James:
Estate planning can feel daunting, but start by reviewing beneficiary designations. They override your will or trust.

John:
Also, update documents regularly. Many people never revisit estate plans written decades ago. Trustees and powers of attorney may no longer be appropriate.

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Strategy 8: Aligning Your Estate and Philanthropic Goals

John:
Coordinate charitable giving in your estate plan. Retirement accounts are often best for charitable bequests due to the tax efficiency—if planned correctly.

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Strategy 9: Timing Social Security Benefits

James:
Claiming Social Security at the right time is critical. While you can claim as early as 62, benefits increase by 8% annually if you wait until 70. Consider spousal benefits, your income, health, and tax planning goals.

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Strategy 10: Waiting Too Long to Plan

John:
One of the biggest missed opportunities is simply waiting too long to put a comprehensive plan in place. Ideally, start at least 5–10 years before retirement.

We offer a complimentary financial analysis to help assess where you stand and what strategies may apply to your situation.

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Complimentary Financial Analysis

James:
This is a no-cost, no-obligation opportunity to work with a Certified Financial Planner to review your financial situation, project retirement income, assess risk, and identify tax planning strategies.

To get started, just click the link in the chat. It typically involves two meetings: one to review your current picture, and another to go over recommendations.

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Q&A

John:
Let’s take a couple of questions.

James:
First question: “How long does the analysis take?”
We try to keep it easy and efficient. Once you provide some key documents—investment statements, tax returns, Social Security info—we’ll schedule two meetings over the course of a few weeks.

John:
Another question: “How do you ensure smart decisions during consolidation?”
We begin with a consolidation strategy meeting. We review your tax exposure, employer plan benefits, and ensure we’re not triggering avoidable gains or giving up favorable plan features.

As independent fiduciaries, we act in your best interest—always.

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James:
That’s all the time we have today. Thank you for joining us, and visit savantwealth.com/guides for more resources. Have a great day!

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