In this presentation, Erin Campbell, CPA/PFS, CFP® discusses executing converting funds from an IRA to a Roth IRA (i.e. Roth conversion). She discusses everything from the reasons people should consider this strategy to the possible drawbacks.
Read MoreAs the Covid-19 pandemic enters its 8 month, so many questions remain unanswered. How far are we from having a vaccine? Will there be an emergence of new Covid cases as the weather gets colder? Will states be able to effectively reopen local economies? Most importantly, when will things get back to normal? These unresolved questions all seem pretty important at the moment. However, will these temporary issues have a meaningful impact on a well-diversified, long term investment strategy?
Read MoreCollege is almost here! So, while my family is busy applying for college, you may be considering utilizing a 529 College Savings Plan as a component of your college savings strategy for your own kids or grandchildren. 529 Plans can be an excellent tool when saving for college, however, there are also a number of drawbacks to consider.
Read MoreDoes who wins the election, Republican or Democrat, really have a bearing on stock market returns? Let's take a look at the data and find out.
Read MoreIn this episode of Finance In A Flash, Nick & Chip discuss one of the most used phrases in all of finance, "The Market". What are people actually referring to when they say things like; "The market is crashing today!", "The market is down 1000 points", or "Stocks are soaring!"? Nick and Chip unpack the different indexes people may be referring to when they mention "The Market" and why you shouldn't always correlate the performance of "The Market" with your overall portfolio.
Read MoreOn this episode of Finance In A Flash, Nick and Chip discuss a question that a lot of people have been asking during this turbulent time in the market; "Should I adjust my asset allocation?". They start with the basics of describing how they think about asset allocation throughout a person's lifetime and then transition into instances when it may or may not be an appropriate time to adjust your portfolio's asset allocation.
Read MoreOn this episode of Finance In A Flash, Nick & Erin take a deep dive into Roth conversions. They start with the basics by defining what a Roth conversion is and then transition into deeper topics by describing different scenarios on when it makes sense to use this strategy!
Read MoreMany people would prefer that their estates avoid the probate process. While the probate process is not overly costly in most states, it is generally considered a hassle to those who have experienced it. The following is a discussion on several alternatives for avoiding probate.
Read MoreWith the passage of the CARES Act on March 27th, Congress eliminated IRA required minimum distributions (RMDs) for the year. This means that many taxpayers above the age of 72, or anyone who is taking inherited IRA distributions, will likely have quite a change in their taxable income in 2020. So, is it a good year to do a Roth Conversion instead?
Read MoreOn this episode of Finance In A Flash, we conclude our series titled: Financial Planning Opportunities Amid Market downturns. Throughout the episode, we cover several planning techniques such as Roth Conversions, Refinancing your mortgage, and reevaluating your budget, especially if you are in the distribution phase.
Read MoreIt is very important to periodically take the time to review your estate plan and make sure your existing documents are still appropriate and continue to meet your needs. This is a task that Beacon reminds clients to address about every other year. So what are those things that need to be reviewed?
Read MoreWho would have ever expected a rebound of historic proportions in stocks? However, since March 23rd—the height of pandemic uncertainty—major stock indexes have advanced nearly 40%!
Read MoreOn this episode of Finance In A Flash we continue our series on Financial Planning Opportunities Amid Market Downturns by covering Tax-Loss Harvesting. We go through the details of Tax-Loss Harvesting and the benefits of using this strategy during times when your investments have losses.
Read MoreEliminating debt is a key factor in accumulating wealth, but is paying off your mortgage as soon as possible the best financial decision?
Read MoreDo you know the factors to consider when establishing an emergency savings account? How much cash is it appropriate to keep on hand in short term savings and money markets? Before we address the question, it is important to understand the important role cash plays in an overall financial plan.
Read MoreThis web presentation discusses the importance of an Investment Policy Statement (IPS) when managing client portfolios.
Read MoreWe at Beacon Financial Strategies, believe that rebalancing is an integral component of the investment management process. In this presentation, Chip Hymiller, AIF®,CFP® explains the concept of rebalancing and discusses the advantages of implementing a portfolio rebalancing strategy.
Read MoreDoesn’t it seem like the stock market should be down more in 2020? This article takes a deeper dive into the numbers and it turns out that when using more diversified definition of “the market,” stocks have taken quite a hit this year.
Read More2020 is turning out to be quite different from what many of us had planned on back in January. Not only are there changes in our day to day life, there are changes that could impact your financial life and what you had originally planned on doing this year. One of those changes relates to charitable gifting.
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