Is a “Back Door” Roth IRA Right for You?
Have you ever known something was right for you and been told you couldn’t have it? It can be pretty frustrating. Many high-income earners, who would like to contribute directly to Roth accounts, cannot do so because of IRS income limits. However, that doesn’t mean it’s impossible for high-earners to reap the benefits associated with […]
7 Reasons for Roth IRAs: Why Not Now?
It’s almost tax time. During April, many people take advantage of the opportunity to reduce taxes by funding a Traditional IRA. While that makes sense for some Americans, others may benefit by contributing to a Roth IRA that offers no immediate tax break, but has other tax advantages, such as tax-free growth potential and tax-free […]
Social Security Offices Are Misleading Retirees
Last month I had a client ask me about a social security strategy that is going away on April 30th of this year. They wanted to explore the possibility of using the file and suspend strategy. In this case both spouses were 63 years of age. Of course, this issue is confusing because the file and […]
Did You Miss the Gorilla?
Last week we hosted our first session of Brain Games in which we found as many ways as we could to trick the audience. We unveiled to them their own biases and ways their own instincts work against them, especially when it concerns investing. It’s especially interesting to see how most people believe that they […]
Got Milk?
**Since yesterday was a big down day in the market, I’ve got a quick thought at the end of this blog. Once upon a time in the country there worked a dairy farmer who was having trouble getting his cows to produce milk. They seemed well fed but as the cows grew fatter and fatter, […]
Plan Early, Plan Smart
The old adage goes, “the early bird gets the worm.” The same rings true of financial independence. Those that start young are more likely to build substantial wealth over the course their lifetime. Those that wait may end up being forced to make concessions on their standard of living during retirement. Millennials are faced with […]
Buybacks for Better Returns
Have you ever watched Family Feud? Perhaps you were a child when Richard Dawson hosted the game show or maybe you enjoy the current version. No matter, take a moment and: • Name a three-letter word that ends in –ow • Name a chess piece • Name a one-word color for a pair of socks • Name how […]
Who Gets the Family Jewels?
Several years ago, a long time client of mine passed away and left everything to the step mother of his children. The son, who is also a client of mine, spent many conversations with me detailing his thoughts with regard to how the estate was distributed. The children were not near as concerned about the […]
The Road to a Tax Free Retirement
I was recently quoted in an article that was published in Forbes on how we have worked with one of our clients to reduce Social Security taxes and eliminate his need to take required minimum distributions. To go to the Forbes site to see the article, click here. The Road To A Tax-Free Retirement Ashlea Ebeling […]
Family Finances When Dad’s Losing His Grip
I recently wrote this article for Money Magazine. Follow this link to view it. The unedited version is below: Just the other day, the daughter of a client of mine told me that she did not expect her father to last much longer. I had known that her father’s health had deteriorated somewhat, but he still […]