Imagine this. It’s early afternoon and you’re at the grocery store with list in hand. Your cart is overflowing. Only a few items remain, and soon you will be headed to the checkout counter. Did you bring your checkbook? Oh, I see. That’s too old fashioned for you, huh? How about your credit or debit […]
When wealth transfers from one generation to another often times there’s an opportunity for mistakes to be made, especially when passing appreciated non-retirement assets. In the last six months we’ve come across two separate cases in which an error could’ve cost these families well over $500,000 in unnecessary taxable gains, and it was of no […]
The Tax Cuts and Jobs Act of 2018 was one of the largest sweeping set of tax code changes in history. Among one of the lesser known changes was an alteration to the rules impacting the utilization of 529 savings plan assets. It opened the door for change in the way families utilize 529 plan […]
Recently I was listening to an audio file of one of my mentors Jim Rohn. If you don’t know who Jim Rohn is, he’s worth getting to know, but only after you finish this article. His legacy still lives on through recordings on YouTube or curated materials that may be purchased through Success Magazine. Even […]
What’s that outside your window? Wow, see that car in your driveway. It’s a real head turner! You must get a lot of compliments. It has value to you as an asset. There’s an intrinsic value you derive from owning it. You use it for transportation. It gets you from point A to point B. […]
Two hydrogen atoms to one oxygen atom and you get an amazing substance! H2O, AKA water, is a shape shifter. It can be a gas, invisible to the eye. Physically harmless to touch. It can be a solid when frozen into ice. Get wacked with that, and OUCH! Leave your hand on it too long […]
How about we flip the tables, and make you the advisor this month? Does that sound fun? Are you up for the challenge? Good! You are approached by a widower who is younger than 59 1/2. He has inherited a Roth IRA from his spouse. He is gainfully employed, and life insurance proceeds were sufficient […]
Did you get your taxes done on time? Good for you! It seems each year many of us scramble to get our taxes done while searching for ways to reduce our previous year’s federal income tax. Whether doing your own taxes with the assistance of an online preparation service like TurboTax, or working with a […]
Yesterday the market sold off based on continued uncertainty about trade tariffs and whether U.S. tariffs would be met with similar trading partner decisions which could potentially escalate a “trade war.” The initial steel and aluminum tariffs were absorbed by the market but the realization that additional tariffs, particularly related to China, renewed the uncertainty. […]
Here are a few questions I have to ask you. Do you have investments? Do you have a 401(k), IRA, or another retirement savings plan? Do you own a non-retirement brokerage account with stocks, bonds, or mutual funds? If you said yes to any of these, you’re paying somebody to manage your money. The financial […]