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401(k) Financial Planning Retirement Income Retirement Planning Tax Planning

Understanding the Two Roth IRA 5-year Rules

Many would agree that Roth IRAs are special retirement accounts. They are funded with after tax dollars, grow tax deferred, and all distributions including accumulated gains are tax free. …Or are they? There are two five-year rules that govern whether your Roth IRA distributions are both tax and penalty free. The rules can be quite […]

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Financial Planning

What’s in Your Equity Investment Account?

What if my account goes to zero? It’s a question I’ve heard more than once in the past 6 months. It seems to come from a place of fear, and extreme emotional aversion to loss. There’s likely a lack of understanding too. An understanding of what one owns within the equity portion of an investment […]

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Financial Planning

Owner or Lender

Is it better to be an owner or lender? A simple question worth asking yourself. Would you rather be the owner of your home (a relatively consistent appreciating asset I might add) or would you rather be the lender? As an owner you borrow capital for small down payment to get started. You work towards […]

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Economic Outlook Financial Planning Uncategorized

Inflation Adjusted Spending Plan

The rising cost of goods and services has many folks concerned, and some folks down right panicked. Historic inflation is making headlines and rightly so. As this article is being penned, inflation is at a 41-year high. May 2022 year over year inflation was 8.6%, and Core CPI which excludes volatile food and energy costs […]

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Economic Outlook Financial Planning Market Analysis

Market Commentary – Royal Fund Management

Mark Sorenson | March 04, 2022 Uncertainty continues to impact the market. Geopolitical concerns like we are currently experiencing usually cause a negative market reaction in a shorter time frame, but historically they are always buying opportunities in hindsight. Investors need to look through market corrections and know that with patience, all will be ok […]

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Financial Planning Market Analysis Money Management Stocks

Market Commentary – Royal Fund Management

Mark Sorenson | February 21, 2022 The market has weakened over the last few days based on two main uncertainties. This market commentary should provide some perspective during market corrections like we are experiencing right now. It is interesting that the market historically goes up 80% of the time, but we tend to forget, this […]

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Economic Outlook Financial Planning Money Management

Inflation

I’m writing this piece in early February of 2022. Inflation! I bet you’ve heard this word a lot recently. I’d put money on it that you have been feeling it’s affects at the grocery store and gas pump. It’s hard to bury the fact that prices of most consumer goods and services have risen dramatically […]

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Financial Planning Healthcare Retirement Income Retirement Planning

Medicare Premiums Higher Than Expected?

Are your Medicare premiums higher than you expected? Did you or someone you know receive notice of 2022 premium increases? Did the increase surprise you, and was it far greater than in previous years? 2022 Base Medicare Premiums Increase 14.5% Medicare premiums for Part B jumped from 14.5% from $148.50 per month in 2021 to […]

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Financial Planning Money Management

Bird In the Hand

“A bird in the hand is better than two in the bush” is a proverbial saying used to declare the belief that it is better to hold onto something one has that is certain than to risk losing it by trying to get something better that is not certain. Often folks will use such a […]

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Financial Planning Money Management News Retirement Planning Tax Planning Taxes in Retirement Triplett-Westendorf Financial Group

COVID Relief Bill’s Tax, Cash Benefits Can Apply to Some Wealthy Clients

Financial Planning | March 11, 2021 The $1.9 trillion COVID relief package signed by President Biden on Thursday isn’t aimed only at lower-income and middle-class individuals. Advisors say that many upper-middle-class earners and even the mass affluent can potentially qualify for a portion of the tax breaks or direct cash payments. Here’s a cheat sheet […]