By Todd Holden, Financial Advisor
Annuities are contracts between the annuity owner and an insurance company — nothing more, nothing less. Like any contract, they have terms. Sometimes, these terms turn out to favor the annuity owner, and a smart owner can use these terms to their advantage. Other times the contract terms favor the company, and the annuity owner should get out of the contract as quickly as possible. Below is an example of both:
Gold Mine
By Todd Holden, Financial Advisor
When we think of life insurance, we think of a younger person with a family to protect. Typically, we think of somebody with children to raise and a mortgage to pay. The insurance buyer wants to make certain their spouse and children are not forced to leave their home or change their lifestyle drastically in the event of an unexpected death.
By Nikki Young, CFP®, Financial Advisor
An employer-sponsored retirement account is a vital part of your retirement planning picture. So it’s important to avoid making mistakes with these plans.
By Jim Christy, Wealth Advisor
Inflation, rising interest rates, a global health pandemic now in its third year, Russia’s invasion of Ukraine, supply chain disruptions. The global economy and markets are currently facing the perfect storm of challenges as investors eye an uncertain second half of 2022.
Making the Ups and Downs Easier to Handle
By Todd Holden, Financial Advisor
By Todd Holden, Financial Advisor
There are two fatal errors in regard to IRAs that cannot be fixed. Once these errors are committed, the funds can never be placed back in IRA accounts. Both errors have to do with IRA rollovers and are explained below.
Required minimum distributions take on added urgency as you approach (and reach) age 72, with specific rules and tax implications.
Tips for organizing your estate to preserve your assets for your designated beneficiaries.
When it comes to financial stability, people tend to focus on paying off debt and saving for retirement. In reality, many other financial goals beckon to individuals during their lifetime. Because of this, it’s important to look beyond retirement when setting targets, no matter how old you are.
During these uncertain times, 529 plans may make more sense than ever.
By Todd Holden, Financial Advisor
There are basic facts about Social Security that we all need to know. Here they are:
By James Christy, Wealth Advisor
Protect your personal information — especially your Social Security number — from identity thieves.
Identity theft is rampant in America. And tax-related identity crimes are among the fastest-growing offenses. Learn what the IRS is doing — and the steps you can take to stay protected.
One of the ways to enjoy a financially comfortable and personally rewarding retirement is to enter retirement free of debt. While it may not be possible to eliminate all debt, significantly reducing your debt before retiring is within reach for many people.
By Todd Holden, Financial Advisor
Annuities are the most controversial and confusing investment vehicles available. As an advisor and investor, I receive several emails weekly about annuities. One firm touts them as a great retirement option while another writes that purchasing an annuity is a “top ten mistake” that a retiree can make. What’s the reality?
The market volatility due to COVID-19 has sparked a lot of fear and uncertainty, not only over how to keep ourselves and our loved ones healthy, but also in regard to our investment and retirement accounts. It’s understandable to be concerned about your money. However, there are a few things to be aware of that may help you keep perspective and stay calm until the storm passes — and we remain confident that it will.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which passed on December 20, 2019, brought the greatest expansion to employer retirement plan law since 2006 when Congress allowed auto-enrollment and target-date funds. It also brought about several important changes for retirement savers.
We have seen many individuals pay money for wills and trusts but fail to include their IRAs into a comprehensive estate plan. This oversight has cost them money in unnecessary taxes and even probate costs. Our goal is to develop an estate and tax plan for you to minimize taxes and avoid probate costs with the money in your IRA. Below, please find some common mistakes we have seen with IRAs and a planning point to help you avoid them.
The Tax Cuts & Jobs Act (TCJA) enacted in late 2017 impacted many areas of one’s financial life, including taxation pertaining to education expenses. Parents, grandparents and students largely benefited from the following education related tax changes.
Now that tax filing season is over, are you still just a wee bit upset that you didn’t receive a tax refund or owed more than you expected? You’re not alone. After the Tax Cuts and Jobs Act became law in late 2017, tax rates for most individuals were reduced effective with the 2018 tax return filing (currently through 2025). However, it doesn’t appear that way at first glance to many recent taxpayers.
We receive a lot of questions from clients throughout the year pertaining to taxes — which is a good thing since maintaining tax efficiency is an important part of any financial plan. In the interest of serving you well, and proactively, we thought we’d provide answers to the most commonly asked questions we receive about taxes, especially during tax return season. So here we go.
By Glen Cesari, CFP® | Wealth Advisor
The yearly ritual of Americans filing their taxes is an annual financial rite of passage. As we pour over reams of financial information, we are forced to confront the past year and our current financial situation. Often, this time of reflection has people wondering in the short term:
If you have assets in a qualified retirement plan, such as a company-sponsored 401(k) plan or a traditional individual retirement account (IRA), you'll want to be aware of several rules that may apply to you when you take a distribution.
Required Minimum Distributions During Your Lifetime
By R. Todd Holden | Financial Advisor
In spite of my long-held and deep conviction that stocks and stock mutual funds are an incredibly effective tool for middle-class Americans wanting to create wealth, I feel the strain and stress of down markets just like my clients do. The difference is I need to assist my clients through these difficult times without them making decisions that will hurt them and their families in the long run.
Our approach is one of real partnership. We serve and help you identify specific needs and challenges over time. We forge a close relationship, set personal goals, then apply the focus and discipline required to pursue the things that are most important in your life.
