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David Rosenstrock of Wharton Wealth Management provides well researched, proven, sound and always-current financial advice. He is accessible for any questions and concerns you may have and will respond to you promptly. He listens fully to your concerns and inquires about your lifestyle and long and short range goals enabling you to develop a sound financial plan.
We were very pleased with our experience with Wharton Wealth Planning. We were provided a variety of options as to how to work together. David Rosenstrock our planner was a great pleausure and helped us through the process step by step. We will definitely work with them again and recommend them to all.
Highly recommend Wharton Wealth Planning. You are in the hands of a very experienced money manager, who is not cookie cutter in his approach, and takes a holistic view of our portfolio. He has guided us for many years through good and bad economic conditions. He considers all aspects of our short - and long-term goals and needs while keeping focus to reduce taxes and risks. We realized immediate benefit from the concentration in the portfolio relative to our previous money manager. He is very smart (MBA from Wharton) and is also a CFP, which gives him the knowledge to guide us in any personal financial situation. He listens, is easy to work with, and is very responsive. I can't say enough good after switching to Wharton Wealth Planning.
I have known David and his success in managing money for years. I was thrilled when he said he was starting his own financial management business as my family would finally be able to invest through him. Not only is David incredibly smart and skilled at what he does but he also acts with the highest ethical standards and is kind and responsive. I have not hesitated to recommend David to my friends and to my elderly mother after my stepfather passed away last fall. David has been very patient spending time explaining everything to my mother and he has walked her through all phases of setting up her account. He also regularly updates her and is extremely responsive when she has any questions. Every time she talks to him she feels reassured and knows that her money is in the most capable hands. I highly recommend David and know that anyone who has the opportunity to invest through him will be very happy with their decision.
I highly recommend David R. from Wharton Wealth Planning. David helped my wife and I through some financial analysis for a house purchase, that included some complex factors including a commercial loan, tenant income calculation, and a comparative analysis versus other fully residential multi-unit properties. I had reached out to other planners before this, but they were not comfortable with such a complex scenario, but David handled it quickly and with ease. We even conversed back and forth on some additional potential scenarios that helped strengthen our conviction on making the right decision for our family. No hard sell, no conflict of interest, just great advice that was worth my time/money. Thanks again David!
I have been dealing with David Rosenstrock at Wharton Wealth for the last seven years as he manages my elderly mother's portfolio. Prior to finding Wharton Wealth, my mother's assets were with a large national firm that churned her account repeatedly and produced lots of bills but not much capital appreciation. Now my mother gets positive returns every year. Managing a senior's financial wellbeing can be dicey as they age because of risk tolerance, time horizon, and estate planning related issues. My mother has a trust and has always wanted to leave money for her three children as inheritance. I found Mr. Rosenstrock to be an excellent listener and very knowledgeable about market history and performance, as well as other retirement topics. On a personal note, what I like best is that he is extremely conscientious about returning calls and emails quickly. For me, that's a big deal and very convenient versus previous experiences I have had with other advisors.
Financial Planner for Retirement Planning and Investing
Financing retirement can be a complex and confusing process. Whether you are starting to think about retirement or are already retired, we help you prepare to transition from building your savings to generating income from your investments. We personalize your experience to help ensure your money lasts throughout retirement and beyond. We guide you to help you avoid paying more taxes than is necessary and ensure your investments have the right balance between safety and growth. Our process can also increase your ability to make more efficient career-related financial decisions
There are many moving parts to consider concerning your finances in retirement. Every investment account and source of income has different tax rules and treatment. Some of your retirement income may be taxed as ordinary income, while other income will be tax-free. In addition, some of your retirement income sources will fluctuate with the stock or bond markets, while other income may be fixed or guaranteed. Once you turn a certain age, you are obligated to take required minimum distributions (RMDs) from tax-deferred retirement accounts – this will create tax consequences.
As a fee-only financial planner and fiduciary, Wharton Wealth Planning always puts client interests first. Our fee-only approach prioritizes objectivity in our recommendations, and we do not accept commissions or other compensation from financial product companies. We provide access to the necessary tools, personalized services, and expertise to help you develop a well-coordinated investment management plan beyond one-dimensional product strategies.
Asset Management and Tax Planning Strategies for Retirement
Asset management strategies and retirement plans are developed by a dual-credentialed CERTIFIED FINANCIAL PLANNER™ (CFP®) with an MBA. We weigh current and future tax considerations and analyze thousands of detailed financial projections to bring personalized and comprehensive recommendations to help you succeed at your spending and legacy goals. Our retirement planning and investment management processes focus on long-term tax minimization. We help you estimate how much your money will grow and the related risks to help you decide which investment choices are best suited for you. You'll receive annual direction on whether Roth conversions will help reduce your overall taxes throughout your planning horizon (based on your specific financial profile, tax bracket, and situation), and if so, how much to convert. We will also consider factors, including life expectancy outcomes, to help determine the best strategies for Social Security benefits and long-term care.
Retirement Plans We Work With Include:
- 401(k)
- Traditional IRA
- Roth IRA
- 403(b)
- 457(b)
- Pensions
- SEP IRA
- Solo 401(k)
- Taxable Accounts
We aim to provide peace of mind and increased confidence in your future. The retirement plan we develop for you will include a list of areas of opportunity and concern as well as follow-up action steps we recommend. We can help you evaluate all of the retirement account options you have to choose from and determine the optimal contribution amount and asset allocation for each respective account. This may involve analyzing the investments in your retirement and other accounts and recommending options that deliver similar performance with reduced risk and lower expense ratios. We can also monitor and periodically rebalance your portfolio to its target mix of stocks, bonds, and cash to keep it on course and reduce unintended risks. We believe investment success is achieved through consistently applying a disciplined process throughout the market cycle and not by focusing on popular investments of the day.
The Benefits of Wealth Management and Comprehensive Planning
Our financial plan coordinates with our investment services, providing peace of mind that your investments align with your overall financial goals, investment time horizon, and risk tolerance. We will address the following categories:
Retirement Goals
We work with you to identify your retirement goals, including retirement age and savings targets. We also discuss lifestyle goals in retirement, such as traveling and family.
Retirement Income Needs
We analyze your current expenses and project your future retirement expenses to determine your long-term retirement income needs. We factor in variables such as inflation and the cost of healthcare (long-term care costs, etc.).
Retirement Savings
We review your retirement savings and project your future savings based on your current savings rate and expected investment returns. We also identify opportunities to increase your retirement savings, such as maximizing investment and tax-advantaged retirement plan selections.
Investment Strategy
We work with you to create an investment strategy that is properly aligned with your retirement goals and risk tolerance. We analyze and discuss strategies for diversifying your portfolio and asset allocation, helping to maximize your returns while minimizing your risk. We will proactively make adjustments as necessary to ensure that you remain on track to meet your objectives. Featured investments and solutions include: custom allocations, concentrated stock positions, value stocks, growth stocks, dividend stocks, bonds, and fixed income investments.
Tax Planning
We review your tax situation and identify planning strategies for minimizing your tax liability today and in retirement. We discuss topics such as tax-efficient investments, tax-advantaged account types and choices, Roth conversions, distribution strategies, tax-efficient sales for concentrated equity positions, tax loss harvesting, charitable giving, Health Savings Accounts, and, where applicable, using a 529 plan to save for your child’s or grandchild’s education while also receiving a tax deduction. By identifying opportunities to minimize your tax liability today, we free up additional cash flow that you can use to invest in your retirement savings or other financial goals.
Social Security Strategy
We review your Social Security benefits statements provided by SSA.gov and identify strategies for maximizing your benefits based on your retirement goals and expected retirement timeline.
Estate Planning
We discuss topics such as asset protection and legacy planning.
Insurance Planning
We review your insurance coverage and identify opportunities to optimize your coverage and reduce your risk and related costs. Insurance needs analysis may include: umbrella, life, and disability insurance.
Common Retirement Planning Questions and Concerns We Can Help With
We help our clients transition to retirement with confidence by providing expertise and experience to help them navigate the complex facets of their finances.
How do you plan to minimize our taxes up to and through retirement?
Will we have enough income to meet our retirement spending needs and goals, or should we plan to work longer? When can I retire?
Can I improve my investment income and returns without adding a lot of additional risk?
Do we have enough assets for long-term care expenses if needed?
Will your investment selections include tax-free municipal bonds?
Should I move my 401(k) to an individual retirement account (Rollover IRA) when I retire or leave it where it is?
Which retirement/savings accounts should I tap first to be most tax-efficient? What withdrawal rate should I use?
How can I minimize my capital gains taxes when selling large, concentrated stock investments I have held for a long time?
Should I convert some of my tax-deferred retirement accounts to a Roth account (and do a Roth conversion)? If so, what amount should I convert?
Can you help with employer compensation tax management and planning (Restricted Stock Units (RSU), Employer Stock Purchase Plans (ESPP))?
Should I accept a lump-sum distribution from my pension or take the monthly payment option (what survivorship options should I consider)?
How can I make sure I leave as much inheritance as possible for my family?
What should I do with inherited real estate and/ or retirement accounts and investments?
What is the best way to minimize my investment taxes and consolidate my investment accounts for retirement?
Should I buy an annuity (or hold an existing one)?
Do you provide guidance on charitable giving strategies (Qualified Charitable Distributions (QCDs), Donor Advised Funds (DAFs)?
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Financial Planner NYC | New York, NY
Our New York City office is conveniently located near Columbus Circle on 8th Avenue between 57th and 58th street (just south of Central Park) in Manhattan.
NYC neighborhood areas we serve include: Uptown: Upper West Side, Upper East Side, Yorkville, Lenox Hill, Carnegie Hall, Harlem, Upper Manhattan | Midtown: Hell's Kitchen, Theatre District, Midtown West, Sutton Place, Midtown East, Chelsea, Hudson Yards, Garment District, Gramercy, Flatiron | Downtown: Tribeca, SoHo, NoHo, Financial District, Chinatown, Little Italy, Greenwich Village, East Village.
Financial Planner Englewood Cliffs | Bergen County, New Jersey
Our Englewood Cliffs, New Jersey office is located just north of Manhattan near the George Washington Bridge in Bergen County, off the Palisades Parkway, close to Route 4, I-95 and Route 46. Our office is easily accessible from Fort Lee, Tenafly, Hackensack, Teaneck, Alpine, and surrounding areas of New Jersey.
