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

Part 3: 10 Years From Retirement, What is Your Financial Focus?

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

This article is the third of a three part series titled: 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 Part 2, we explored pension decisions, …

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

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 …

View Post

Retirement Plans for Small Business Owners

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

Small business owners have a number of alternatives to choose from when it comes to establishing retirement plans for their business. Each plan type can vary in their contribution level and matching requirements, as well as their ongoing regulatory and administrative burden. In order to make an informed decision as to the type of retirement plan that works best for you, it is important that you consider the specifics of your business.

View Post

Investor Beware of Year-End Capital Gain Distributions!

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

It looks like 2014 is going to be a huge year for mutual funds making capital gain distributions. While on the surface capital gains sounds like a good deal, but in reality they can pose a tax nightmare for some investors – especially people who invest in mutual funds in non-retirement (taxable) accounts. This article explains the problem with mutual fund distributions and provides a resource for those performing year-end tax planning.

View Post

Long Term Care Insurance—Is it time to consider a hybrid?

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

Normally, when someone mentions hybrids they are referring to fuel-efficient, money-saving cars. Like hybrid cars, the intention of hybrid long term care insurance policies is to provide cost-saving insurance coverage by combining both life insurance (or an annuity) with long term care coverage.

View Post

Intra-Family Planning: 5 Wealth Transfer Strategies to Consider

In Charitable Gifting, College & Education Savings, Estate Planning, General Financial Planning, Insurance, Personal Financial Planning, Retirement Planning, Tax by Chip Hymiller

Through hard work and sound financial planning, some find themselves in situations in which they are contemplating intra-family financial planning. That is, identifying financial planning techniques that can be used to financially strengthen the next generation—children and grandchildren.