Roth IRA

Start With the End in Mind 2.0

Start With the End in Mind 2.0

The end of this life is death.  At death, the most efficient assets to own (asset location: tax free) currently are life insurance and Roth accounts. Currently, both Roth accounts and life insurance pass state and federally tax free to your named beneficiaries. At...

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If You Had a Million Dollar Idea, Could You Fund It?

If You Had a Million Dollar Idea, Could You Fund It?

Where do you go when you need to access money? I think it is paramount in any great financial plan that you proactively think about “access.” Some locations are not efficient (401k, Traditional IRA, or Annuities) because taxes or penalties may apply. Popular locations...

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The Complexity Curve

The Complexity Curve

Generally, people reach out to a financial planner for one of two reasons: 🎯 Their financial picture has just gotten complicated 🎯 or there is some sort of pain point that they cannot resolve Reach out and find the right financial planner before your financial life...

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A Roth 401k is NOT a Roth IRA … A Practical Example

Let’s consider that you are contributing to your companies Roth 401k and you do so for a number of years. Eventually, you decide to retire at age 62. You decide to open a Roth IRA and facilitate a rollover from your Roth 401k. You now want to take funds out of your...

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Please Read Your 401(k) Announcements

Please Read Your 401(k) Announcements

In the past several weeks, I have worked with individuals who have had MAJOR announcements regarding their employer retirement plans. Adding Roth 401k contribution option Removing After-Tax 401k contribution option Removing employer match Changing vesting schedules...

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When to Use 72T Distributions

When to Use 72T Distributions

72T distributions are used to distribute funds from an IRA before you have turned 59 ½ to avoid the 10% early withdrawal rule. These distributions must be done in a very methodical and precise way. You must understand that there are 3 separate calculations that are...

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The 54-Month Planning Window

The 54-Month Planning Window

401k’s and IRA’s have different rules when it comes to taking penalty-free withdrawals.  The more common rule is that you must obtain age 59 ½ to avoid the 10% early withdrawal penalty from an IRA. However, you must only obtain age 55 to withdrawal funds from your...

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How Much Should I Be Saving? 4.0

How Much Should I Be Saving? 4.0

In Step 3, we calculated that we would need to build a “nest egg” of $3.8 million. Let us now calculate how much we need to save every year to go from where you are to where you want to go. For example, let us assume: $300k currently saved 20-year time horizon to...

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graphic 10 actions to take

10 Actions To Take 10 Years Before Retirement

In this paper we discuss 10 actions you should take to develop and deploy a successful long-term wealth plan. It will help you make decisions about your financial journey today and well into your retirement chapter.

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