The Roth IRA/Roth 401k is one of the best ways to accumulate and preserve wealth, but perhaps the least understood. A Roth, funded by after-tax contributions, has many appealing attributes, including tax-free growth and tax/penalty-free withdrawals if over the age of 59½, and the withdrawals are at least five years after your first contribution to […]
The taxman keeps coming… A couple of years ago, congress stealthily changed the law for most owners of retirement plans. Under the old law, if you left your IRA to a person, generally, they were allowed to withdraw the money ‘slowly’ over their life expectancy (popularly called a Stretch IRA). For most people, this meant […]
Even with modern-day family dynamics, the role of a “financial leader” in a household typically still falls on one person. While most leaders in their pre-retiree years rightly focus on accumulating assets and risk management strategies for protection, a new set of challenges are introduced as one crosses the finish line and enters retirement. These […]
Background In March of 2020, COVID-19 became a wide-spread news story that sent the stock market down by more than 30% in what most investors thought was the beginning of a disastrous year. But it managed not only to rebound but set new highs. As we begin 2021, the stock market continues to set new […]
Planning for retirement is challenging enough without making a big mistake. It takes a lot of money for most people if they want to maintain a retirement lifestyle like what they had while they were working. Here are three common assumptions many people make that are often incorrect and can be devastating to your retirement plans: […]