View Post

Midterm Elections: What Do They Mean For Markets?

In Asset Allocation, General Financial Planning, Investments by Chip Hymiller

It’s almost Election Day in the US once again. While the outcomes of the elections are uncertain, one thing we can count on is that plenty of opinions and prognostications will be floated in the days to come. In financial circles, this will almost assuredly include any potential for perceived impact on markets. But should long-term investors focus on midterm elections?

View Post

Understanding Required Minimum Distribution (RMD) Rules

In Asset Allocation, Company News, General Financial Planning, Personal Financial Planning, Retirement Planning by Chip Hymiller

Required Minimum Distribution (RMD) Fast Facts: Required Minimum Distributions (RMDs) are based on: December 31st account values and… A person’s life expectancy There is currently no annual RMD requirement on Roth IRAs Neglecting to take a RMD can result in a penalty of 50% on the amount of the required to be withdrawn Required Minimum Distributions: A Deeper Look Those …

View Post

Special Needs Planning: An Introduction to ABLE Accounts

In Asset Allocation, Cash Flow and Budgeting, Estate Planning, General Financial Planning, Personal Finance, Personal Financial Planning by Chip Hymiller

Families of those with special needs have historically had limited options when accumulating funds for their loved one’s future.  Especially, without jeopardizing their continued eligibility to Medicaid and other support programs. As surprising as it may seem, accumulating as little as $2,000 in a disabled person’s name could potentially render them ineligible to receive much needed assistance and access to …

View Post

Planning for Life in a Retirement Community—Things To Consider

In Asset Allocation, Company News, General Financial Planning, Retirement Planning by Chip Hymiller

There is no doubt that people are living longer and enjoying a higher quality of life in their retirement years.  Given the high demand of retirement communities, which can include independent living and assisted living alternatives, many are taking a proactive approach in evaluating and moving into these communities—prior to health changes that could warrant the necessity to move in. …

View Post

A Look Back on Black Monday: October 19, 1987

In Asset Allocation, General Financial Planning, Investments, Market Review, Personal Finance, Personal Financial Planning, Retirement Planning, The Economy by Chip Hymiller

It’s hard to believe that it’s been 30 years since “Black Monday,” the day the stock market declined a whopping 22.6%! Although I was merely a sophomore in high school, I remember the day quite well.  Having my first real job and being a “saver” by nature, I had just become interested in investing.  I had recently invested in a …

View Post

You are Never Too Old (or too Young) for a Roth IRA!

In Asset Allocation, General Financial Planning, Personal Financial Planning, Retirement Planning by Chip Hymiller

The ability to contribute to Roth IRAs can represent one of the most beneficial financial planning decisions that people can make for their future.  Roth IRAs were established by the Taxpayer Relief Act of 1997 and while most people are aware of the name, they may not be fully aware of all of the benefits. A Roth IRA is an …

View Post

Estate Tax Planning: Be Proactive and Know Your Options

In Asset Allocation, Estate Planning, General Financial Planning, Retirement Planning by Chip Hymiller

The federal estate tax generally only applies to those who die with assets that exceed $5,490,000 (in 2017).  While only about 0.2% of the population is subject to the estate tax, those who are impacted can be faced with a significant estate tax liability as the estate tax rate quickly exceeds the 40% mark! Here is a simple example of …

View Post

Sequence of Returns Risk: Considerations for New Retirees

In Asset Allocation, General Financial Planning, Investments, Retirement Planning, Tax by Chip Hymiller

Research has shown that the timing of one’s retirement can be important – especially as it relates to investment returns in the early years of retirement. Someone who retired just prior to the “Great Recession” could have experienced significantly larger portfolio “drawdowns” than someone who retired during a period of economic expansion and higher investment returns.

View Post

Donor Advised Fund Comparison

In Asset Allocation, Charitable Gifting, Estate Planning, General Financial Planning, Personal Financial Planning, Tax by Chip Hymiller

In our article, Charitable Gifting Using Donor Advised Funds, we provided some insight into donor advised funds and listed some of the many benefits that the charitably-minded could garner from using donor advised funds as a component of their charitable gifting strategy.  As a follow up to that article, we wanted to provide some information that could be helpful when vetting custodians who offer donor advised funds.

View Post

Teaching Your Grandchildren Money Values

In Asset Allocation, Bill Dix, General Financial Planning, Personal Finance, Personal Financial Planning by Bill Dix

If you’re a grandparent, you likely already offer support in a lot of ways including financial and emotional. But you can also provide practical help. A frequently overlooked area where you can definitely make a difference is with your grandchildren’s personal financial education. Some of us were lucky enough to have a grandparent who we considered a great friend. We …

View Post

2017 Tax Law Changes

In Asset Allocation, Cash Flow and Budgeting, General Financial Planning, Personal Financial Planning, Retirement Planning, Tax by Chip Hymiller

Happy 2017! As we begin a new year, it’s always important to re-examine certain elements of your financial plan – especially things that relate to tax planning. Here are a few of the more common items that may impact your financial situation this year. Social Security & Medicare Part B For those receiving Social Security, there is a cost of living …

View Post

Part 2: 10 Years from Retirement, What is Your Financial Focus?

In Asset Allocation, General Financial Planning, Retirement Planning by Chip Hymiller

In Part 1, we discussed the importance of tracking and managing your living expenses, as well as, making projections around how much you will spend in retirement. We also stressed the importance of making strategic Social Security decisions. In this article, we wanted to spend some time addressing pension decisions, ideas for strengthening your personal balance sheet and helping you think through how much money you will likely need during retirement.

View Post

Tax Free IRA Gifts To Charities Are Now Allowed

In Asset Allocation, Charitable Gifting, General Financial Planning, Retirement Planning, Tax by Chip Hymiller

For those of you who are charitably inclined and over the age of 70 ½, we have great news that could impact your charitable gifting strategy!  In December 2015, Congress made permanent the ability for taxpayers to divert their required minimum distribution directly to a qualified charity. The ability to make this charitable election, technically called a Qualified Charitable Distribution …