End of Year Financial Planning for Airline Pilots | The Airline Advisor

On this episode:

As the year draws to a close, it’s the perfect time to take a step back and review your financial planning. In this episode, Scott discusses important year-end strategies to help you optimize your finances before December 31. He covers key topics like Roth conversions, tax loss harvesting, HSA contributions, and other essential tasks that could make a big impact on your financial situation.

Plus, Scott offers a look ahead to 2025, with insights into changes in tax brackets, contribution limits, and how strategic adjustments today can set you up for a more secure financial future. Tune in for some great insights before the year wraps up!

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Here’s some of what we discuss in this episode:

0:00 – Intro

1:40 – When you need to get contributions in

3:54 – Tax loss harvesting

6:20 – Considerations for business owners

8:21 – Contribution limits

10:11 – HSAs

13:51 – Federal tax brackets

15:50 – The power of small adjustments

Resources:

Schedule A Call with Scott

Scott’s Book, A Pilot’s Guide To Maximizing Wealth & Cashflow In Retirement

The Pilot’s Planner Website

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The Airline Advisor

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All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or an indication of future results.

Opinions expressed herein are solely those of Patriot Wealth Planners and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by Patriot Wealth Planners an Investment Advisor in the State of Ohio. Being registered as an investment adviser does not imply a certain level of skill or training.

The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services to any residents of any State other than the State of Ohio or where otherwise legally permitted.

Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.
Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

©2024. All rights reserved.

All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or an indication of future results.

Opinions expressed herein are solely those of Patriot Wealth Planners and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by Patriot Wealth Planners an Investment Advisor in the State of Ohio. Being registered as an investment adviser does not imply a certain level of skill or training.

The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services to any residents of any State other than the State of Ohio or where otherwise legally permitted.

Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.
Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

©2024. All rights reserved.