When saving for retirement, ROTH accounts are becoming increasingly popular. Unlike traditional IRAs or 401k plans, while contributions to ROTH IRAs and ROTH 401k plans are not tax deductible, distributions are tax-free (so long as certain requirements are met). If you have ROTH accounts, it is important to understand Minimum Distribution Requirements as they differ from those of traditional IRAs/401ks.Details
One of the major changes that were made to the tax code by the Tax Cuts and Jobs Act of 2017 was the expansion of the Standard Deduction to $12,000 for individuals and $24,000 for married couples. This means that going forward, many more taxpayers will be taking the standard deduction rather than itemizing.Details
In the video When Should You Begin Collecting Social Security Benefits, we’ve discussed considerations to take account when determining when to begin collecting social security benefits. Specifically, we discussed the fact that delaying collection allows your benefit amount to grow by 8% per year plus inflation from Full Retirement Age to Age 70 while collecting…Details
Over the past few weeks, markets have been experiencing more volatility than what so many have come to expect as the norm and what has characterized the markets over the past several years. It is ironic because when it comes to investing, it is market volatility that is actually the norm – what we have experienced over the last several years is what is unusual.Details
A 401k plan can be a wonderful savings vehicle, but many employees don’t know how to navigate the plan to maximize the benefits it can offer in retirement. Contribution levels, matching opportunities, investment options and costs are all factors that need to be considered. Here are five steps to help you optimize the potential benefits…Details
As a fiduciary advisor, you might already be able to guess what our take is on current market news: Unless your personal goals have changed, stay the course according to your personal plan.
Still, it never hurts to repeat this steadfast advice during periodic market downturns. After all, we understand that thinking about scary markets isn’t the same as experiencing them. So, what’s going on? Why did U.S. stock prices suddenly drop after such a long, lazy lull, with no obvious calamity to have set off the alarms?Details
Whether the market is in a bit of turmoil or when it has been performing quite well, it’s important to revisit some of the common behavioral mistakes that can potentially derail even the most well thought out financial plans. Below are six behaviors that we should all look to avoid. Fear and Panic Perhaps the…Details