Is it best to contribute to your company sponsored 401k plan, a Roth IRA, or a personal brokerage account? The answer depends on many factors. Chip and John hash out some of those factors on this episode of Finance in a Flash!
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When it comes to taking account distributions, which account is best - IRAs, Roth IRAs, Brokerage accounts or 401k plans? Chip and John discuss tax strategies and other considerations to take into account when deciding which account to take a distribution from!
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On this episode of Finance in a Flash Chip and John sit down to discuss, tax-efficient investing and the importance of “Asset Location.” Chip and John talk about which types of investments should be held in which accounts and why that may vary based on your stage in life.
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When it comes to financial planning, one of the easiest and most important things to accomplish is an overall review of your estate plan. We suggest that you review your estate plan every couple of years or when there are changes in your family that may impact your estate planning. Here is a checklist of estate planning items to review that may be helpful.
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On this episode of Finance in a Flash, Chip and John give an update on the economy and financial markets. Chip and John talk about the Federal Reserve, Inflation, the market, and much more!
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You can definitely make a difference is with your grandchildren’s personal financial education. Teaching kids early will build a lifetime of good financial habits. How can we help them develop good financial habits? By taking advantage of the fact that they really are already watching and learning from what we do and say.
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On this episode of Finance In A Flash, Chip and John discus Money Markets! We dive into what a Money Market is, FDIC limits, what role Money Market accounts play, and so much more!
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We explore the four elements of an investor's risk profile - risk capacity, risk required, risk tolerance and risk perception. Understanding each type of risk is an essential element of building an investment portfolio that can both meet your specific investment needs, while allowing you to sleep easy during times of personal and financial stress.
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On this episode of Finance In A Flash, we wrap up our series on Estate Planning by discussing common types of trusts. Chip and John briefly discuss several common types of trusts, their objectives, pros and cons, and tax and estate implications!
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The SECURE Act 2.0 altered the onset of Required Minimum Distributions (RMDs) from age 72 to age 73. However, the law made no change to the Qualified Charitable Distribution (QCD) rules. So, while a RMD is not required until age 73, a taxpayer over age 70 ½ is allowed to distribute directly from their IRA to their favorite charity and avoid taxation.
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On this episode of Finance In A Flash, we continue our series on Estate Planning by discussing Revocable Living Trusts. Chip and John discuss key components of a Revocable Living Trust including: the primary purposes, how they are handled from a tax perspective, and other reasons to consider this estate planning tool!
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Interest rates have risen significantly over the course of the last year. So, you would expect that interest rates on savings and money market accounts would have followed suit. However, it seems that many banks have yet to adjust the interest rates they pay to customers on deposit accounts like savings and money market.
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With the passage of the SECURE Act, distribution requirements for beneficiaries changed dramatically. Now, non-spousal beneficiaries are required to distribute the entire balance of an inherited IRA within 10 years! This could present an enormous tax burden for those beneficiaries.
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Are you worried that your estate plan is inadequate or needs updating? Do you need a will, but are worried that you don’t know enough to answer an attorney’s questions? Learn more about the importance of having a will and understand how wills are utilized as a component of your estate plan.
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On this episode of Finance In A Flash, we continue our series on Estate Planning by discussing Probate. Chip and John discuss what probate actually means, the assets included in the probate process, what assets are NOT included in the probate process, and so much more!
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Beacon recently hosted a live webinar for clients and friends discussing the financial market this year. It has been a difficult year for investors, but there’s good news! Check out this webinar to get our take.
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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.
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On this episode of Finance in a Flash, Chip and John kick off our series on Estate Planning. We discuss asset titling and the importance of understanding how different assets are titled!
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Memory loss and other types of cognitive impairments become increasingly common with age. Making important financial decisions can be a challenge. This
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Stocks and bonds have “taken it on the chin” this year! The good news is that long term investors have a track record of success!
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