Gifting to Children During Retirement: What Retirees Should Know with Caleb | Foster Financial

Caleb Doane discusses how retirement planning often starts with determining whether a retiree has sufficient income and resources to support their goals throughout retirement. For individuals with assets beyond their projected retirement needs, the segment explores considerations such as charitable giving, family wealth transfer, and lifetime gifting strategies. The discussion also covers how periodic gifts to children may help support long-term financial goals and highlights the importance of understanding IRS gifting rules and tax considerations. Topics covered include: Retirement Income Planning Wealth Transfer Strategies Annual Gifting to Family Members Tax Considerations Related to Gifting Charitable Giving Strategies Balancing Retirement Needs with Legacy Goals Family Financial Planning Lifetime Gifting Versus Inheritance To learn more or schedule a complimentary consultation, contact Foster Financial today. Call us at 260-234-2200 or visit us at www.fosterfinancial.net . . . . The gifting and estate planning concepts discussed are for educational purposes only and may not be suitable for all individuals. Lifetime gifts are generally irrevocable and may reduce assets available for future retirement income, healthcare expenses, long-term care needs, and other financial goals. Federal gift and estate tax laws are complex and subject to change. Contributions to retirement accounts are subject to IRS eligibility requirements and annual contribution limits. Foster Financial Services does not provide legal or tax advice. Individuals should consult qualified tax and legal professionals regarding their specific circumstances before implementing any strategy. Heather Foster, Caleb Doane, and Jonathon Pynchon are investment advisor representatives with Foster Financial Services, LLC. Advisory services are offered through Foster Financial Services, LLC, a registered investment advisor registered with the United States Securities and Exchange Commission. Registration with the SEC does not imply a certain level of skill or training and does not constitute an endorsement by the SEC. The information, opinions, and views expressed herein are provided by representatives of Foster Financial Services, LLC, and are subject to the firm's supervision, review, and compliance oversight. The content provided here is not intended to provide any tax or legal advice or provide the basis for any financial decisions. This sponsored segment is provided by Foster Financial Services, LLC for educational purposes only and should not be construed as investment, legal, or tax advice. The television station and host are compensated through a sponsorship arrangement and are not clients of Foster Financial Services. Any strategies discussed may not be suitable for all investors and are subject to risks, limitations, eligibility requirements, tax consequences, and applicable IRS rules. Investing involves risk, including the possible loss of principal. Tax laws and regulations are subject to change. Individuals should consult qualified financial, tax, and legal professionals regarding their specific circumstances before implementing any strategy. Investment advice will only be given after a client engages in our services by executing the appropriate investment services agreement. Information regarding investment products and services is given solely to provide education regarding our investment philosophy and our strategies. You should not rely on any information provided on our website in making investment decisions. Market data, articles, and other content in this material are based on generally available information and are believed to be reliable. Foster Financial Services, LLC does not guarantee the accuracy of the information contained in this material. Foster Financial Services, LLC will provide all prospective clients with a copy of our current Form ADV, Part 2A (Disclosure Brochure), Part 2B (Supplemental Brochures), and Part 3 (Client Relationship Summary) prior to commencing an advisory relationship. You can also view these documents at any time at adviserinfo.sec.gov or by contacting us to request a copy.