When it comes to their retirement accounts, many investors often fail to think about required minimum distributions (RMDs). That oversight can lead to unnecessary tax burdens and other financial issues. In order to handle RMDs effectively, an understanding of the rules—and common errors people make—can be beneficial.
As a Wealth Management Consultant, I'm often asked two questions "What is a financial plan?" and "Is a financial plan different from investment management?" In short, yes—financial planning and investment management are two distinct wealth management tools that work together to help you achieve your short- and long-term financial goals.
Most working Americans have only one source of steady income before they retire: their jobs. When you retire, however, your income will likely come from a number of sources, such as retirement accounts, social security benefits, pensions, and part-time work.
When deciding how to manage your various assets to ensure a steady retirement income stream, there are two main strategies to consider: the total return approach, or the investment pool—or bucket—approach.
Trusts are a great way to put conditions on how, when, and to whom your assets will be distributed after you pass away. However, there are several options and specific terms to know when it comes to setting up a trust, and many people aren't sure of the best path forward.
To help explain, I've put together some frequently asked questions and answers on the subject.
You've worked long and hard and are nearing retirement age. Like many other baby boomers, with your kids out of the house and a surplus of empty space and time, you may be thinking about moving. To help you make up your mind—or make your transition go as smoothly as possible—we've compiled this list of tips.
Many of my clients have questions about Medicare. How much will it cost? When should I enroll? What are my options? The process for enrolling in Medicare is surprisingly easy, but there are several options you'll need to consider.
To shed some light on the topic, I've put together Medicare 101: A guide to enrolling in the Medicare plan that is right for you.
As we approach the end of 2016, you'll likely hear many people talking about year-end tax planning. While implementing tax planning strategies at year-end is certainly advantageous, tax planning can be even more beneficial as a year-round activity.
As a financial planner, I often advise my clients to regularly review their financial planning activities alongside the current tax strategies available to them, to minimize potential income taxes while staying on course to meet their financial goals.