The Center for REALTOR® Financial Wellness is a resource designed exclusively to meet the specific financial planning needs of REALTORS®. You’ll find budgeting tools, retirement planning resources, options for investing in real estate, and more.

Visit www.FinancialWellness.realtor to take your assessment and start planning for your future today!

CFFW Money Saving Tips

Financial Wellness Emergency Guide

Information and resources to help you get through challenging times.

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Personal Finance Matters That Matter to You

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Presented by Rich Arzaga, CFP.

  • REALTOR® financial matters are unique
  • What matters to you
  • Five popular planning matters
  • Resource for REALTORS®
  • Answers to your questions

Should I Contribute to a Roth 401(k)?

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Roth 401(k)s have become an increasingly popular alternative to traditional 401(k)s, allowing participants to make after-tax salary deferrals to their employer plans. If you have or will have a 401k for your business, you can work with your plan administrator, or add the capability, to make Roth 401k contributions. But you might be uncertain if this is a good idea for you.

This flowchart helps guide you through a series of considerations that will help with your decision whether to contribute to a Roth 401(k), and covers:

  • Future tax rate expectations
  • Roth IRA eligibility
  • Employer matching considerations
  • RMDs and future rollover options
  • Additional savings opportunities through backdoor Roth contributions

Updated for 11/15/2020

Should I Set Up a Traditional 401(k) for My Business?

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If you are considering a retirement plan for your business, you have many options. While a traditional 401(k) is a well-known choice among small business owners, there are many cases where other retirement plan options may be better suited for the business and the owner.

To help make this analysis easier, we are pleased to offer you a flowchart titled “Should I Set Up A Traditional 401(k) For My Business?” It addresses some of the most common issues that arise when looking to set up a retirement plan. This flowchart considers:

  • Which plans may be better when there are no employees
  • When a defined benefit pension plan could be set up
  • Options to review when the goal is to contribute more than $58,000 per year
  • Maximum employee contribution amounts for plans
  • Which plans have mandatory matching contribution requirements
  • Minimum employer matching contribution amounts
  • Plans that offer more flexibility

Updated for 11/15/2020

What Issues Should I Consider When Reviewing My Estate Planning Documents?

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Estate planning is a critical aspect of your financial plan. Reviewing your documents is an important exercise. However, this can be a daunting task, and, perhaps, confusing.

To help guide your document review, we are making available this checklist. It covers key considerations regarding the most common estate planning documents, including:

  • Wills
  • Living trusts
  • Irrevocable trusts
  • Powers of Attorney
  • Living wills

To pair with this resource, please see the “What Issues Should I Consider Before I Update My Estate Plan?” checklist.

What Issues Should I Consider Before I Retire?

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This checklist covers 32 of the most important planning issues to identify and consider as you plan for retirement. It’s structured as follows:

  • Cash flow issues
  • Health insurance issues
  • Asset and debt issues
  • Tax planning issues
  • Long-term planning issues
  • Other issues

How Might President Biden’s Tax Plan Affect Me?

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President Biden’s administration has outlined a tax policy built upon the agenda introduced during his campaign. Biden’s tax plan focuses on raising taxes on corporations and affluent households, while increasing credits for moderate- to lower-income households. With Democratic control of Congress, changes outlined in President Biden’s tax plan have an increased possibility of becoming a reality. At what time, in what form, and to what extent remains to be seen; however, another round of tax law changes is likely on the horizon.

Having adapted to frequent, and sometimes major, legislative changes in recent years (namely the TCJA, the SECURE Act, the CARES Act, and most recently, the American Rescue Plan Act), you may understandably be concerned about what changes could be imminent. While recommendations may be premature, it is important to proactively engage with your financial professionals regarding potential future tax law changes. By familiarizing yourselves with President Biden’s tax plan now, you will be positioned to take action and seize planning opportunities when changes are implemented.

We have made available this checklist to guide your conversations regarding the highlights of President Biden’s tax plan. Please take a look at this and the companion piece “As A High-Income Taxpayer, How Might President Biden’s Tax Plan Affect Me?” and consider how these resources may be of use to you.

As a High-Income Taxpayer, How Might Biden’s Tax Plan Affect Me?

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President Biden’s administration has outlined a tax policy built upon the agenda introduced during his campaign. Biden’s tax plan focuses on raising taxes on corporations and affluent households, while increasing credits for moderate- to lower-income households. With Democratic control of Congress, changes outlined in President Biden’s tax plan have an increased possibility of becoming a reality. At what time, in what form, and to what extent remains to be seen; however, another round of tax law changes is likely on the horizon.

Having adapted to frequent, and sometimes major, legislative changes in recent years (namely the TCJA, the SECURE Act, the CARES Act, and most recently, the American Rescue Plan Act), you may understandably be concerned about what changes could be imminent. High-income households, in particular, have been targeted for tax increases under Biden’s tax plan. While recommendations may be premature, it is important to proactively engage with your financial professionals regarding potential future tax law changes. By familiarizing yourselves with President Biden’s tax plan now, you and your advisors will be positioned to take action and seize planning opportunities when changes are implemented.

We have made available this checklist to help guide your conversations regarding the highlights of President Biden’s tax plan. Please take a look at this and the companion piece “How Might President Biden’s Tax Plan Affect Me?” and consider how these resources may be of use to you and your family.

Episode 57: Financial Planners, Insurance, and REALTORS®

Check out the award-winning Center for REALTOR® Development podcast!

Listen to episode 57, as guest Rich Arzaga shares information REALTORS® should look out for when choosing a financial planner and insurance. Download then share with a friend to continue the learning.