Coronavirus Aid, Relief and Economic Security Act (CARES Act)
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) that was passed March 27th, 2020 includes temporary, but meaningful, changes to laws relating to income planning for 2020.
As we have been advised to exercise our business continuity plan and work remotely, I am surprised by the ease and efficiencies we have uncovered while working together “apart.”
Before anyone makes sudden shifts in their asset allocation strategies based on recent market actions, we believe it is important to keep the following points in mind...
The SECURE Act of 2019 Brings Significant Changes to Retirement and Financial Planning.
President Trump signed The Setting Every Community Up For Retirement Enhancement Act of 2019 (The SECURE Act) into law on December 20th, 2019. The thirty-one sections of legislation came at long last through bipartisan efforts throughout 2019, and they include some key changes to decisions, rules, and elections relating to how pre-tax accounts play into retirement income and other financial planning.
Turning your interest into a sustaining hobby is the first step to enjoying those golden years in retirement.
Personal thoughts on the way home from work.
With the recent blast of frigid air and Thanksgiving around the corner, I would like to share a very personal experience that I’m sure has happened to you also.
Cash Balance Pension Plans: A step up from 401(k)
Cash balance pension plans have seen a rebound in popularity as small businesses and professional groups seek a balance between sometimes competing desires to attract new employees, supplement benefits for senior executives and owners, and minimize tax and benefit expenses. Most often used as a complement to defined contribution arrangements such as 401k and profit sharing plans, properly designed cash balance plans provide a greater degree of flexibility and potentially much greater tax benefits. From both a short- and long-term standpoint, it may be an option worth exploring.
529 College Saving Plans Now Includes Private Elementary and High School Tuition.
Under current tax laws, ‘Superfunding’ a 529 college saving account allows you to make five years of contribution ( 5 X $15,000 = $75,000) at one time while still qualifying for the annual gift tax exclusion.
Don’t try to time the market – Stay Invested!
Timing the market like a 50/50 coin toss is risky and a gamble we urge our clients to avoid. Here's why...
Debunking the Myth on Withdrawal Rates
Although the financial industry tells us that 4% is the appropriate rate of withdrawal from a retirement fund, this oversimplification may result in almost 20% of retirees running out of money. An historical look at the bond market shows why applying a 4% rate of withdrawal will be disastrous to many retirees.