This article examines relevant investment and economic data for the second quarter of 2018.
Understanding Required Minimum Distribution (RMD) Rules
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requirement on Roth IRAs Neglecting to take a RMD can result in a penalty of 50% on the amount of the required to be withdrawn Required Minimum Distributions: A Deeper Look Those …
Special Needs Planning: An Introduction to ABLE Accounts
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 …
Planning for Life in a Retirement Community—Things To Consider
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. …
Education Savings: 529 Plans or Coverdell Education Savings?
This article discusses differences between 529 College Savings Plans and Coverdell Education Savings Plans
Tax-Efficient Investing and the Importance of Asset “Location”
Asset “location” – which types of investments should be held in which accounts -is different based on your stage in life. An accumulator and a retiree should have a different investment strategy.
A Look Back on Black Monday: October 19, 1987
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 …
You are Never Too Old (or too Young) for a Roth IRA!
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 …
Estate Tax Planning: Be Proactive and Know Your Options
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 …
Sequence of Returns Risk: Considerations for New Retirees
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.
The Fear of Missing Out
In a recent BARRON’S, it was reported that the American Psychiatric Association recognizes more than 100 different types of phobias. But what’s causing widespread anxiety in the markets now is one that might not make that list of fears. That would be “The Fear of Missing Out.” While the Standard & Poor’s 500 index was mostly flat since March 1, …
Donor Advised Fund Comparison
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.
Teaching Your Grandchildren Money Values
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 …
2017 Tax Law Changes
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 …
Part 2: 10 Years from Retirement, What is Your Financial Focus?
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.
Republican or Democrat: A Historical Perspective on Stock Performance
Many of our clients have asked how what will happen to the stock market if Candidate(X) wins the election. Get a historical perspective of the impact an election may have on the stock market.
Charitable Gifting Using Donor Advised Funds
Donor advised funds can be a great tool in your charitable gifting strategy. This article discusses attributes and unique features of donor advised funds.
Should You Consider a Revocable Living Trust?
Revocable Living Trusts can serve an important role in your estate plan, but they aren’t for everyone. Find out more..
Tax Free IRA Gifts To Charities Are Now Allowed
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 …
Have You Reviewed Your Beneficiary Designations Recently?
Have you confirmed the beneficiary designations of your 401k, IRA, or life insurance policies recently? If not, you should! Find out why.