Traditional IRAs, Roth IRAs and 401 (k)s, Oh My!

Embarking on your financial planning journey can seem overwhelming – at first. A common question that is asked is about the process of converting a traditional IRA to a Roth IRA, and any potential tax liabilities involved. There are additional considerations if 401 (k)s are one of your portfolio’s moving parts. A multi-year strategy may …

Financial Literacy for Young Adults

Regarding taxes, here are three things you should know: I told you that the Federal withholding tables are broken. You probably shrugged and figured it was some sort of political commentary or something: surely the government couldn’t do something so basic so very wrong? But the Federal withholding tables only really work  if you’re a one-job …

Possibilities in a Pie Plate – or Crèche

Who Gets Grandma’s Yellow Pie Plate? A Guide to Passing on Personal Possessions has terrific worksheets that help families navigate the challenges involved in determining who gets the “stuff”—not the cars, houses, bank, and retirement accounts but the personal possessions that are imbued with sentimental value. Their fate can tear families apart. Available from University …

Recognize Your Freedom to Choose

“When we are no longer able to change a situation, we are challenged to change ourselves.” – Viktor Frankl We may not always be able to control the circumstances of a given situation we find ourselves in. But we always have the freedom to choose how we respond. The choice we make – and how …

Tax Inflation Reduction Act 2022: Tax Credits & Student Loan Forgiveness

The Inflation Reduction Act and other items passed by Congress may affect decisions you make in 2023 and beyond. Some of these were immediately in place as of August 16th, 2022. While student loan forgiveness has dominated headlines, there are other important changes to be aware of as well as you make financial decisions. ALTERNATIVE …

Tax Loss Harvesting: A Good Idea That is Overrated?

Turning lemons into lemonade should be considered during the market volatility that we find ourselves in today. In periods of market downturns or even market upturns, one strategy that is often suggested is tax loss harvesting. It can be a beneficial strategy, but its application is often misunderstood or wrongly implemented. Knowing when to utilize …

Does Crypto Belong in Your Portfolio?

Don’t be fooled by the constant stream of articles about cryptocurrency. It’s true that cryptocurrencies have become more popular, and more numerous, including Bitcoin, Dogecoin, Ethereum, and more than 9,000 others. They’re still not mainstream— “everyone” isn’t investing in cryptocurrencies. But are they a new asset class? Should you include cryptocurrencies in your portfolio? No. …

Can You Take a Punch?

Mike Tyson, the former world heavyweight boxing champion, is not well known for making profound observations, but I believe he made at least one. Once, prior to a fight, a sports reporter asked him how he planned to handle his opponent who had said that he had a special plan to defeat “Iron Mike.” His …

The Pros and Cons of Target Date Funds

Most 401k plans offer target date funds as an easy way for participants to start investing. A target date fund is a mutual fund that is composed of several other mutual funds and ETFs. These funds include domestic and international stock funds and fixed income funds. The target date represents the date when the investor …

Where There’s a Will, There’s a Way – to Control what Happens!

You worked hard for many years, saved well, and find yourself in a position to provide a legacy to loved ones after your death. The starting point for me is always the reminder that you have no obligation to provide an inheritance to anyone, even family (with a possible spousal exception), and therefore you can …