| What I’m Working On |
| How First-Gen Americans and Foreign-Born Individuals Benefit From Financial Planning |
| First-generation Americans and foreign-born individuals are often overwhelmed by the complexities of the U.S. financial system. After helping foreign-born families for many years, we’ve learned the importance of a customized approach that respects our clients’ cultural backgrounds and values. We aim to address the confusion by explaining key terms and strategies in plain language while creating a financial plan tailored to their retirement dreams and goals. Whether they plan to retire here or abroad, we can help them navigate investment and tax considerations to develop a strategy for building long-term savings. Suppose a client plans to retire outside of the U.S. Certain tax-advantaged retirement accounts may not provide the same advantages as if they stayed stateside. We’re here to simplify the process and help clients make informed decisions to save and prepare for the lifestyle they envision. A concrete example is understanding and simplifying the decision to purchase insurance. Insurance needs can vary significantly between the U.S. and other countries. Adequate coverage is crucial to protecting loved ones financially. Many employers provide basic life insurance between one- and two-times base salary. In our experience, this base benefit may not be enough to adequately protect a family in the event of a premature death. Additionally, employer policies may not be portable if an employee leaves. Many families utilize private insurers to guarantee complete customizable protection. We explain options to find the right amount and type of policy based on each situation. Navigating U.S. health insurance also poses challenges. We help compare company, private, and public exchange plans so families can obtain optimal coverage. We also explore the options of associated Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA).Disability insurance can replace income lost to injury/illness. However, supplemental policies are expensive, pricing out some families. Also, many insurers deny claims for those residing abroad, even with premiums paid, which may be necessary for someone looking to return to his or her native country in the event of a disability. Every family has unique priorities and risk tolerance. Through discussion, we craft tailored recommendations on available coverage to suit our clients’ finances and safety needs. We aim to educate clients about offerings so they will make informed choices to safeguard their families’ financial security. |
| “We have become not a melting pot but a beautiful mosaic. Different people, different beliefs, different yearnings, different hopes, different dreams.” — Jimmy Carter |
| Market IndicesYear-to-date, as of March 31, 2024 Stocks: Large Cap S&P 500, +10.16% Small Cap Russell 2000, +4.81% Technology NASDAQ, +9.11% International MSCI EAFE, +4.70% Bonds: U.S. Aggregate AGG, +2.20% Sources: FactSet; Dow Jones Market Data; S&P Dow Jones Indices; ICE Data Services; Bloomberg Indices; and J.P. Morgan. What I’ve EnjoyedI’m enjoying the sci-fi thriller ‘3 Body Problem’ on Netflix. As someone who’s always been a big fan of the genre, it’s been entertaining so far. But it’s also reminding me of some other excellent sci-fi works that left a lasting impression. The show resembles the critically acclaimed film ‘Arrival’ from a few years back, one of the best sci-fi movies of the last decade. Like ‘Arrival,’ ‘3 Body Problem’ explores profound, thought-provoking concepts while maintaining an aura of mystery and suspense that keeps you hooked.At the same time, it’s stirring up nostalgic memories of watching ‘E.T. the Extra-Terrestrial’ as a kid – a film that captured the magic of the extraordinary blending with the ordinary in such a heartwarming way. ‘3 Body Problem’ has given me similar vibes of experiencing that childlike sense of wonder. That’s the hallmark of excellent sci-fi storytelling—the ability to expand our minds to strange, speculative places we’ve never imagined while still feeling anchored to familiar human experiences and emotions. Whether it’s a modern work or a classic from our childhood, the best sci-fi manages to tap into that shared experience of awe and curiosity about the great unknown. It seems that’s a winning formula that never gets old.  |
 Learn MoreIf you would like to meet and learn about my financial planning and investment management services, please schedule a free consultation.Schedule |
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| GreenLife Advisors, LLC is an Investment Adviser registered with the State of New York. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold, or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets, or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication’s conclusions. Please contact us at 914-627-8783 if there is any change in your financial situation, needs, goals, or objectives, or if you wish to initiate any restrictions on the management of your account or modify existing restrictions. Additionally, we recommend you compare any account reports from GLA with the account statements from your custodian. Please notify us if you do not receive statements from your custodian on at least a quarterly basis. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, www.greenlifeadvisors.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis. |
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