My Comments: By the time they arrived on the scene, I felt there wasn’t enough time left for me to grow a meaningful amount in the few years I had left to work. So, I never opened a Roth IRA. I wish I had but it didn’t happen. I now have many clients with Roth …
Continue reading Reasons to Convert Traditional Retirement Accounts to a Roth IRA
My Comments: The recently enacted SECURE Act did not fundamentally change the set of rules about accumulating money for retirement. But it did change the landscape for many people. For years, the Roth IRA has seemed like an exotic step-child in the financial planning world. I think this happened because contributions to Roth IRAs generally …
The SECURE Act, signed into law last December, brings important benefits for Americans, both retired and not yet retired. The Act will influence how you save money for retirement and how you withdraw money from retirement accounts in the future. It also includes rule changes that will cause distress for some. Given that none of …
My Comments: This Act, signed by President Trump this past December, included several important additions and modifications to existing retirement planning code sections. For example, it changed the age when you MUST start taking money out of your income tax deferred retirement accounts. It gave retirement plan providers the opportunity to include annuities in their …
Continue reading How Will The SECURE ACT Impact Your Estate Plan?
I last wrote about the Secure Act back on July 18th of this year. The name is an acronym for Setting Every Community Up for Retirement Enhancement. As I mentioned then, someone stayed up late one night coming up with that to reflect the message of security. The idea behind any effort that allows people …
Continue reading The Secure Act is now law. Will it help your retirement?
According the AARP, about 10,000 Americans turn 70½ every day of the year. If you’re in that group, and have money parked somewhere that you’ve identified as a retirement account, chances are you’ll have to start taking a RMD soon. First, a little background info. We’ve agreed that the Internal Revenue Service (IRS) is responsible …
Continue reading A Few Things to Know About Required Minimum Distributions (RMDs)
My Comments: First, a disclaimer: I’m not an attorney. Second, in my 43 years as a financial planner and investment advisor, I’ve run across more than a few beneficiary mistakes that have been problematical. With all of us having a finite time on this earth, the issue of what happens to our stuff when we …
Continue reading Beneficiary Designations: 5 Critical Mistakes to Avoid
My Comments: This is #6 in a series of 6 blog posts about Heath Savings Accounts, or HSAs. They are a potential game changer for those of you who qualify in that they have tax advantages and can suplement whatever else you are doing to set aside money for retirement. The writer of the article …
Continue reading 7 Reasons Why You Should Fund A Health Savings Account
My Comments: This is post #5 in a series of 6 posts intended to help you better understand the advantages of HSAs. If your circumstances let you qualify for one, it could be a game changer when it comes to paying your bills in retirement. by Adella Cellini Linecker \ November 30, 2018 A health …
Continue reading Health Savings Account Rules: 6 Little-Known HSA Tips That Will Save You Money
If you think your HSA is only good for covering medical expenses, you're overlooking one of its key benefits. My Comments: This is #4 in a series of 6 blog posts intended to help someone not yet retired, and under Medicare age, make an informed decision about their health insurance. There are restrictions on who …
Continue reading Is an HSA a Good Place for My Retirement Savings?
Helping You Prepare Your Financial Future 