In these posts we will endeavor to provide some answers to general questions we receive that we think will be useful to you. We have a list of questions that we hope to answer in coming weeks, but we also want you to have an opportunity to ask questions that we may not have already encountered. So please submit general questions that you would like to be answered, and we will do our best!
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If there is something you would like to know about financial planning or our services please send us your questions.
The particular plan that we often recommend is called a SEP IRA: Simplified Employee Pension Plan. This plan has so many amazing benefits for small business owners and those that are self-employed, and many of these individuals do not realize the power of this plan. What are the Requirements for a SEP IRA? The basic requirements are quite simple: Set up the plan for the
It is not too early to begin planning for your retirement as soon as you start your first job, and begin putting money away for that time in your life that is probably 30 to 40 years in the future. In order to retire successfully, you must of course have adequate savings to support you, because trying to live on Social Security alone is not
Because You Asked: Should I Give My Adult Children Money? While there are an almost innumerable number of circumstances and considerations that play into the answers to this question, and our standard response is “It depends”. What are some of the factors to consider in deciding to gift to my adult children? Begin with a thorough assessment, conducted with a financial advisor if you have
Typically, a “Rollover” is in reference to a process that occurs when an individual is either retiring, of retirement age, or otherwise departing from a current employer. Unless you already have an IRA (Individual Retirement Account) established, you would set up an IRA, and then “Roll” everything contained in your employer’s account to the IRA. The types of employer-provided plans include everything from a 401K
This past month has been exceptional in regard to the number of deaths we have encountered: three close family/friends, and then a client who lost two family members back to back. Death, that final passage of our lives, our final transition, is never easy for those of us left to grieve. But in truth, it IS a natural part of our lives, and an experience
I recently reviewed some statistics or hard numbers that appeared in the January 2018 issue of the Journal of Financial Planning. And even though we have always believed that everyone needs to have a plan for how to cover our costs of long-term care, reviewing these stats really drove the issue home for me. So, if you will, please consider some of the following startling
These two terms are occasionally used interchangeably, but they refer to different processes that can produce a taxable result in your investment accounts. They are terms that you hear frequently on the news, business channels, and publications, so I thought that it might help to break down the terminology a bit. I should start by clarifying that dividends and capital gains are deferred in qualified
As with the simple answers I penned about whether or not you need long-term care insurance, in which the answer was “Yes”, the simplest answer to the question above is “Now”. I seem to enjoy finding the simplest answers to what are often complex questions! Many individuals have in their back of their minds a certain time of their lives when they think they should