Tax Tips: Should You Rollover Your Roth 401k into a Roth IRA?
If you have retirement funds held in the Roth 401k plan of a prior employer (or a similar employer sponsored, after-tax retirement account such as a Roth 403b or Roth 457 account), you might want to consider rolling those after-tax retirement accounts directly into a Roth IRA. While there are many similarities to the tax-free […]
Charitable Donations: How to Reduce Your Lifetime Taxes
If you are like many of my charitably minded clients, you probably got a surprise when you filed your tax return and found that you no longer itemize your deductions and, therefore, will likely not receive a tax deduction for future contributions. However, with some careful tax planning you might be able to structure your […]
Better Together: How Kiwanis has Shaped my Family Legacy
For as long as I can remember, my family and I have taken an annual trip to Oregon to visit my father’s relatives during the first weekend in August. But unlike other family vacations, there is a specific reason we take this trip every year at the same time. Long ago, my great uncle decided […]
Don’t Believe the Unbelievable
In my prior blog, Steeling Your Mind for Market Volatility, I reminded readers that higher returns are commensurate with higher levels of volatility. Although it never feels good, we should not be surprised by sudden drops in the stock market — it is a natural part of the investing experience. Since 1896, the Dow Jones […]
Redefining Stereotypes: Financial Advisors
What I Thought I Knew About Financial Advisors What does a “Financial Advisor” look like to you? For the majority of my life, this was a term that painted a picture of a stiff, suit-shaped figure sitting behind a heavy oak desk in an office where only the affluent were permitted to enter. I am […]
Personal Finance Rule #1
Be Honest with Yourself (and Your Partner) Financial decisions are inherently complex. As much as we try to execute financial decisions based solely on reason and logic, emotions will always play a role. When we neglect to acknowledge our emotions, we run a greater risk they will cloud our judgement. Understanding our emotional reactions to […]
Robo-Advisors vs Traditional Financial Advisors
How Robo-Advisors are Pushing Personal Financial Advisors to Evolve What do dinosaurs, woolly mammoths, and sabre-toothed tigers all have in common? Hopefully this question didn’t make you think too hard – they are all extinct. While I’m sure my old science teacher would tell me this is grossly oversimplified, it seems to me that these […]
The Importance of the Time Value of Money for the Young Investor
“Don’t get old.” This is advice I often hear from my parents; but, whether we like it or not, the passage of time and the aging that comes along with it, is a force that cannot be controlled. As a recent college graduate with over a year in the workforce under my belt, optimizing each […]
What’s Your Number?
The importance of planning and going beyond “rules of thumb” Rules of Thumb Many “rules of thumb” attempt to help guide us toward a successful retirement; perhaps you’ve heard of some of them: While coming up with these numbers (based on rules of thumb) can provide a reference point for what has generally worked for […]
6 Key Factors to Consider When Planning Your Retirement
Think of retirement as a mountain peak. You spend years climbing the mountain (working, saving, investing) in order to reach the summit (retirement). During this period, known as the accumulation phase, your focus lies in growing your nest egg. However, did you know that in both retirement and mountaineering, the real danger lies in the […]
