An Investment Policy Statement (IPS) is a document designed to establish a clear understanding between an Investor and an Advisor as to the goals and management policies applicable to the Investor’s investment portfolio. It clearly articulates the responsibilities of both parties. An IPS will document the following The client’s current financial situation The client’s objectives…
DetailsEvidence suggests that one’s ability and willingness to save is the greatest predictor of long-term wealth and ultimate financial independence. Therefore, it is never too early to teach your children to save. Now, this will not be an easy feat – after all, as human beings, we prefer instant gratification, especially children.
DetailsAnnuities are complicated products that often cause much confusion for annuity owners, let alone their beneficiaries. There can be significant tax consequences associated with the inheritance of an annuity held in a non-qualified account that can substantially impact the total dollars received by a non-spouse beneficiary. If you are the beneficiary of an annuity, there…
DetailsNo matter the age of your children, whether they are toddlers or even adults themselves, being a parent is not easy. Neither is being an investor. Ironically, the rules for succeeding at both – parenting and investing – are quite similar.
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As financial advisors, people rely on us to provide direction regarding their financial well-being. Confusion can arise when the advice that we offer is not consistent with the news headlines, the “promising” strategies, the “surefire” bets and the sophisticated products being touted by the media. While we are always open to learning about potential opportunities…
DetailsFor those you who are on Medicare or who will be eligible for Medicare in 2017, the costs of Part B premiums may be substantially higher than they were in 2016. The issue, which also arose in 2015 and affected 2016 Medicare premiums has to do with what is called the Hold Harmless Rule. This…
DetailsThis summer already is destined to deliver plenty of uncertain outcomes. On the political front, there are the especially stark contrasts found among the US presidential candidates. For better or worse, whichever candidate prevails is likely to set the tone for the country if not the world. The “stay or go” uncertainty surrounding the June…
DetailsLast night, I was sitting at my 10-year old son’s little league playoff game. It was the last inning – bottom of the 6th – and we were up 5-2 with 2 outs and a full count on the batter. Our pitcher threw a curveball that coasted across the back corner of the plate –…
DetailsAnnual contribution limits for retirement savings accounts for 2015 and 2016, as established by the IRS, are listed below. Please keep in mind that contributions to Traditional IRAs, Roth IRAs, and SEP IRAs can be made up until the time your tax return is due, including extensions.
High earners who would otherwise be excluded from contributing to a Roth IRA may want to consider this strategy. If ever there were a tax-efficient saving vehicle, it is the Roth IRA. It can: Provide you with the double benefit of tax-free growth and tax-free withdrawals in retirement Is not subject to Required Minimum Distributions (RMDs)…
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