IRS Issues New Guidance on Retirement Plan Early Distributions
Wealth Management
JUNE 26, 2024
Notice 2024-55 clarifies two exceptions to the 10% additional tax.
Distribution Retirement Planning Wealth Management 
Ask The Experts: Retirement Planning Opportunities Under the SECURE 2.0 Act
Wealth Management
DECEMBER 15, 2023
Act regarding individual retirement accounts, including changing when the first required minimum distribution can be made from the account, new rules for inhe The panel of experts will discuss and answer questions about the changes made by SECURE 2.0
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Your Retirement Planning Starter Pack
Carson Wealth
MARCH 7, 2024
By Jake Anderson, CFP ® , Wealth Planner When helping clients begin retirement planning, the same questions often arise: What should my retirement plan look like? Your lifestyle, goals, family situation, and risk tolerance will give a unique signature to your retirement plan. Talk to us today.
Why Non-Deductible IRA Contributions Aren’t Worth It
Darrow Wealth Management
NOVEMBER 11, 2024
The deductibility phase-out is based on filing status, income (MAGI), and whether or not the individual(s) are eligible to participate in a retirement plan at work. When you make a distribution, the original nondeductible IRA contribution amount isn’t included in your taxable income, but the earnings and growth from it is.
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You Shouldn’t Always Delay IRA Distributions
Darrow Wealth Management
JANUARY 30, 2023
just upended retirement planning…again. The age when retirees must begin drawing from non-Roth retirement accounts increases to 73 in 2023, then 75 in 2033. Raising the age when withdrawals must begin is great as it gives investors more planning opportunities. The Secure Act 2.0
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SEP IRA for the Self-Employed: Tax & Retirement Planning for Small Business Owners
Darrow Wealth Management
SEPTEMBER 19, 2024
Unlike most types of retirement plans, the SEP IRA is funded by the employer. A SEP IRA (Simplified Employee Pension Individual Retirement Account) is a type of retirement plan specifically designed for self-employed individuals and small business owners. What is a SEP IRA?
IRS Wants to Change the Inherited IRA Distribution Rules
Darrow Wealth Management
AUGUST 8, 2022
” This meant annual required minimum distributions (RMDs) were out. Unless a non-spouse beneficiary qualifies for an exception¹, previous guidance stipulated that funds from an inherited 401(k), IRA, 403(b), or other qualified retirement plan (including Roth IRAs) must be taken in 10 years following the year of death.
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How to Choose the Right Wealth Management Firm in Kansas City
Fortune Financial
SEPTEMBER 25, 2023
How to Choose the Right Wealth Management Firm in Kansas City Managing your wealth is a crucial aspect of financial success and security. Let’s look at key factors to consider when selecting the ideal wealth management firm in the Kansas City metro area.
Planning Details for NUA: A Tax-Saving Strategy
Fortune Financial
JULY 28, 2022
Anyone who owns company stock will eventually have to decide how to distribute their assets — typically when there is a job change or retirement involved. To recap, NUA is the difference in value between the price initially paid for a stock (the cost basis) and its current market value at the time it is distributed.
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The Best Way to Take Required Minimum Distributions (RMDs)
Darrow Wealth Management
OCTOBER 24, 2022
For example, what’s the best time of year to take required minimum distributions, how to reinvest it, or if you can avoid paying tax on RMDs. Here are some of the most common RMD questions and planning opportunities for investors. It’s called a qualified charitable distribution (QCD). Yes, you can reinvest your RMD.
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Secure Act 2.0 to Bring Sweeping Changes to Retirement Rules
Darrow Wealth Management
DECEMBER 23, 2022
Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. retirement changes. Raise the required minimum distribution age. Keep in mind, matching contributions are often voluntary so it would be up to the plan as to whether to adopt this provision.
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How to Choose the Right Wealth Management Firm in Kansas City
Fortune Financial
SEPTEMBER 25, 2023
How to Choose the Right Wealth Management Firm in Kansas City Managing your wealth is a crucial aspect of financial success and security. Let’s look at key factors to consider when selecting the ideal wealth management firm in the Kansas City metro area.
What to do After Inheriting a Retirement Account from a Parent
Darrow Wealth Management
SEPTEMBER 11, 2024
Here are the distribution rules. If you’ve just inherited a retirement account like an IRA or 401(k) from a parent, sibling, or relative, you may be unsure about what your options are and what to do next. This article focuses on the distribution rules for non-eligible designated beneficiaries as that is most common.
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Is Retirement a Good Time for Roth Conversions?
Darrow Wealth Management
NOVEMBER 20, 2023
If you think retirement planning moves stop at retirement, think again. Although it won’t make sense in every situation, retirement can be a unique opportunity for Roth conversions for some investors. The example above assumes the couple does not need the full distribution from the IRA to meet lifestyle expenses.
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Massachusetts ‘Millionaires’ Tax Applies to Sudden Wealth Events
Darrow Wealth Management
NOVEMBER 17, 2022
Darrow Wealth Management doesn’t provide tax advice; consult your tax advisor to discuss your personal situation. . The MA ‘millionaire’ surtax will apply to one-time sudden wealth events. Considering tax planning strategies to reduce the impact of the new MA surtax. About Darrow Wealth Management.
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What to Do After Maxing Out Your 401(k)
Darrow Wealth Management
SEPTEMBER 26, 2024
Retiring early is also even more difficult without taxable assets as you’ll need to bridge the gap before penalty-free distributions from 401(k)s or IRAs begin, perhaps to cover medical expenses. Dividends, interest, or capital gains distributions from mutual funds and ETFs received during the year are taxable annually.
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Secure Your Financial Legacy
Yardley Wealth Management
JUNE 6, 2023
The post Secure Your Financial Legacy appeared first on Yardley Wealth Management, LLC. Secure Your Financial Legacy When planning for your legacy, it’s important to consider various financial aspects. Assets under management (AUM) refers to the total value of assets managed by a financial advisor or firm.
Introduction to NUA: A Tax-Saving Strategy
Fortune Financial
JULY 5, 2022
Some companies offer the benefit of employees owning stock in the employer company through 401(k) plans, profit-sharing plans, stock bonuses and employee stock ownership plans (ESOP). Anyone who owns company stock will eventually have to decide how to distribute those assets when leaving the company or entering retirement.
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Major Tax Changes Are Coming in 2026. Are You Ready?
Darrow Wealth Management
JULY 1, 2024
Business owners may be able to accelerate tax-deferred savings even more through different retirement plan structures. Plan for change There have been many major changes to the tax code in the last ten years, so taxpayers shouldn’t get comfortable with the current tax code. appeared first on Darrow Wealth Management.
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Sound Strategies for Crafting Your Retirement Investment Portfolio
Fortune Financial
SEPTEMBER 29, 2022
In our planning with clients, we like to employ a “pay yourself first” approach, especially as it relates to retirement planning. You may have been contemplating starting contributions to a retirement plan, or you may have been contributing small amounts and are worried that you are behind in the game.
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How Much Should I Have Saved in My 40s?
Carson Wealth
JANUARY 17, 2023
Discretionary expenses include money spent traveling, eating out, contributing to savings and retirement plans or occasional purchases and upgrades. Maximize Your Retirement Plan Savings . You still have twenty years to build some wealth. C onsider this example: . Ellie (42) is an executive at RetireRisks Inc.
4 Financial Strategies to Leverage if your Portfolio is Worth Millions
Park Place Financial
MARCH 10, 2022
Distributing tax-smart assets into the different tax categories (taxable, tax-deferred, and tax-free) to limit liability . Increasing tax-deferred savings, such as an employer-sponsored retirement plan, to lower your taxable income . Park Place Financial can help you with healthcare planning , as well. March 14, 2022. |.
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Tax and Financial Planning Ideas For 2023
Park Place Financial
JANUARY 9, 2023
Discover some components to bear in mind with your wealth management goals as we enter 2023. Retirement Savings Accounts . In 2023, Internal Revenue Service (IRS) will increase the contribution limit for multiple types of retirement accounts, including: . Seek Full-Service Financial Planning from Park Place Financial .
How To Grow Your Retirement Business In The 2020 Economic Crisis (Webinar)
Indigo Marketing Agency
MAY 5, 2020
How To Grow Your Retirement Plan Business In The 2020 Economic Crisis. We’ve partnered with the experts at The Retirement Learning Center to update advisors on how the retirement plan landscape has been altered by the 2020 economic crisis. Save your spot today! So I’ll let John take it away from here.
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How Often Should You Rebalance Your 401(k)?
Darrow Wealth Management
OCTOBER 29, 2024
Your asset allocation is the percentage of your portfolio that you distribute between different asset classes, like stocks and bonds. But depending on the investment options in the retirement plan, as the balance grows, it may be advantageous to customize your asset allocation. appeared first on Darrow Wealth Management.
5 Big Changes to Roth Accounts in Secure Act 2.0
Darrow Wealth Management
JANUARY 9, 2023
So it’s clear there may be some new planning opportunities on the horizon. The ability to do 529 plan to Roth IRA rollovers goes into effect January 2024. No required minimum distributions (RMDs) in Roth 401(k) plans. illustrates the importance of revisiting your retirement and tax planning strategy annually. ¹
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Mastering the Art of Financial Planning Marketing: Strategies for Success
Indigo Marketing Agency
JULY 1, 2024
To rank higher in search engine results, ensure your website includes key terms like “financial advisor,” “wealth management,” or other relevant phrases. Distribute these videos on your business website, social media platforms, and through email campaigns to reach a wider audience.
Estate Planning in this Economic Climate
Park Place Financial
NOVEMBER 29, 2022
Trusts can be highly beneficial for those engaged in estate planning. Trustees manage the funds wisely and ensure they are distributed to the beneficiaries, according to the grantor’s wishes. For those whose estate planning involves philanthropy, the charitable remainder trust (CRUT) can be advantageous. 0 Comments.
Should Pre-Retirees Take a New Look at #Retirement Income?
Yardley Wealth Management
MAY 29, 2020
The post Should Pre-Retirees Take a New Look at #Retirement Income? appeared first on Yardley Wealth Management, LLC. Should Pre-Retirees Take a New Look at #Retirement Income? By Michael Garry Yardley Wealth Management May 21, 2020. The post Should Pre-Retirees Take a New Look at #Retirement Income?
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Major Tax Changes Are Coming in 2026. Are You Ready?
Darrow Wealth Management
JULY 1, 2024
Business owners may be able to accelerate tax-deferred savings even more through different retirement plan structures. Plan for change There have been many major changes to the tax code in the last ten years, so taxpayers shouldn’t get comfortable with the current tax code. appeared first on Darrow Wealth Management.
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Stress Free Money
The Richer Geek
DECEMBER 1, 2021
He is the President and Founder of Pacific Capital and is a Certified Financial Fiduciary®, Accredited Wealth Management Advisor, and Chartered Retirement Planning Counselor. So inflation is a big deal, you've got to plan for everything to get a lot more expensive”. “I Welcome to another episode of the Richer Geek.
Navigating the Future: Client-Acquisition Strategies for Financial Advisors in 2024
Indigo Marketing Agency
DECEMBER 15, 2023
This afternoon, I received an email from a lawyer looking to set up a retirement plan for their law firm. Angela Dorsey of Dorsey Wealth Management, a satisfied client, shares: I have been with Indigo marketing for 4 years now and they have been excellent!
Part 1: The Tools of the Tax-Planning Trade
Yardley Wealth Management
FEBRUARY 1, 2022
The post Part 1: The Tools of the Tax-Planning Trade appeared first on Yardley Wealth Management, LLC. Part 1: The Tools of the Tax-Planning Trade Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome.
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Part 1: The Tools of the Tax-Planning Trade
Yardley Wealth Management
FEBRUARY 1, 2022
The post Part 1: The Tools of the Tax-Planning Trade appeared first on Yardley Wealth Management, LLC. Part 1: The Tools of the Tax-Planning Trade. Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome.
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Should you die and go to hell before selling an annuity?
Sara Grillo
NOVEMBER 14, 2022
These meetups are free and the goal is to learn from each other about how to grow and manage a transparent wealth management practice for the benefit of clients. David Macchia is retirement income strategist, entrepreneur, public speaker, and author focused on strengthening retirement security.
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Financial Planning for Entrepreneurs
WiserAdvisor
JULY 1, 2022
If you wish to create a customized financial plan that will enable you to build a successful entrepreneurial venture, consult with a professional financial advisor who can guide you on the same. Why is financial planning important for entrepreneurs? A well-tailored financial plan here becomes paramount. .
Saving investors from the “Humpty Dumpty portfolio” with hourly financial advisor Rick Ferri, CFA
Sara Grillo
APRIL 11, 2022
Please conduct your own diligence on any wealth manager you are considering hiring. Integrating Social Security, Medicare, ermine, all of these things that go along with retirement, I’m very good at… So this is what I work with clients on. Ryan Firth, CPA. Did I leave anyone off the list? Let me know.
Transcript: Natalie Wolfsen, Orion CEO
The Big Picture
JULY 29, 2024
There are few people who have her unique insights into the inside baseball of what drives change in actual wealth management, not only working with FINRA and the SEC on the regulatory side and working on the technology side, but having some insight into behavioral finance and understanding what advisors need to help their clients obtain their goals.
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Financial Planning for High-Net-Worth Individuals
WiserAdvisor
JULY 24, 2022
If this burden is shifted to the high-net-worth income category, financial planning will be the only way to navigate through these enormous tax liabilities. Retirement planning: One of the biggest concerns that most people face in retirement is keeping the same standard of living as their pre-retirement days.
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