Inflation’s Impact on Retirement, Taxes and Estate Planning
Wealth Management
JUNE 24, 2024
Six ways to help clients gain peace of mind regarding inflation.
Estate Planning Retirement Taxes 
The Best Of Weekend Reading 2024: Top 24 Articles You Might Have Missed
Nerd's Eye View
DECEMBER 30, 2024
We start with several articles on retirement planning: Why considering a client's retirement time horizon and spending flexibility could lead to more accurate (and often higher) safe withdrawal rates than the simpler "4% rule" Four unique risks retirees face when drawing down their assets, from sequence of returns risk to tax risk, and how financial (..)
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Book of Secrets on the Month-End Close
Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments
Trending Sources
Making Estate Planning More Tax Efficient And Equitable For Beneficiaries By NOT Just Splitting The Assets Evenly
Nerd's Eye View
AUGUST 7, 2024
Traditionally, people tend to think of their estate as comprising one big 'pot' of assets, focusing on the sum of all the assets rather than on each individual asset itself.
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Personal finance links: a worthy goal
Abnormal Returns
NOVEMBER 6, 2024
Podcasts Christine Benz and Amy Arnott talk the state of retirement with Anne Tergensen of the WSJ. podcasts.apple.com) Taxes A year-end tax planning checklist. kindnessfp.com) How to think about taxes in early retirement. humbledollar.com) How to retire without regrets. Quit playing.
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Weekend Reading For Financial Planners (November 30–December 1)
Nerd's Eye View
NOVEMBER 29, 2024
Also in industry news this week: While many financial advisors are paying close attention to the potential extension of sunsetting measures within the Tax Cuts and Jobs Act (TCJA) in the coming year, legislation related to retirement savings could be on Congress' agenda as well Fidelity is planning to change the default for its existing RIA non-retirement (..)
“Legacy IRA” Rollover To A Charitable Gift Annuity: Using This New Tax-Advantaged Opportunity To Help Clients Achieve Charitable And Retirement Goals
Nerd's Eye View
AUGUST 23, 2023
However, the caveat with current CGAs has been that they could only be funded with after-tax dollars before the donor’s death, meaning that if an individual only had tax-deferred funds (e.g., Second, they reduce the donor's tax bill in the year the CGA is created by excluding the amount contributed to the CGA from taxable income.
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Personal finance links: mostly positive markets
Abnormal Returns
NOVEMBER 20, 2024
(sites.libsyn.com) Frazer Rice talks with Christine Benz author of "How to Retire" (podcasts.apple.com) Carl Richards talks money and more with journalist Kara Swisher. 50fires.com) Retirement Gray divorce can have a huge effect on your retirement. nytimes.com) Taxes in retirement only get more complicated.
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Adviser links: losing focus
Abnormal Returns
NOVEMBER 11, 2024
riabiz.com) A round-up of recent financial advisortech news including Holistiplan's estate planning module. kitces.com) What it means to be a great adviser to retired clients. thinkadvisor.com) A year-end tax planning checklist. (standarddeviationspod.com) The biz Fidelity is crushing it.
Personal finance links: a psychological decision
Abnormal Returns
APRIL 10, 2024
(morningstar.com) Dan Haylett talks with Eric Brotman, who is the founder and CEO of BFG Financial Advisors, about retirement as 'graduation.' humansvsretirement.com) Estate planning Why you should update your estate plans periodically. wsj.com) Retirement Some reasons to go back to work after retiring.
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Personal finance links: taking your time
Abnormal Returns
DECEMBER 4, 2024
Podcasts Christine Benz talks 2025 taxes with Ed Slott author of "The Retirement Savings Time Bomb Ticks Louder." morningstar.com) Dan Haylett talks with Christine Benz, author of "How to Retire: 20 Lessons For a Happy, Successful, And Wealthy Retirement." apolloacademy.com) Taxes Some things to know about doing a QCD.
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How to Make Charitable Giving Part of Your Financial Plan
Carson Wealth
DECEMBER 20, 2024
Strategic charitable giving not only benefits the recipient but can also create significant tax advantages for the giver. While many people approach their financial planning with careful strategy, its easy to overlook the same level of intention when it comes to charitable giving. It just needs to be given to a qualified 501(c)(3).
Personal finance links: absolute value
Abnormal Returns
JUNE 5, 2024
(ritholtz.com) Dan Haylett talks with Stephanie McCullough, founder of Sophia Financial, about the challenges facing women planning for retirement. humbledollar.com) Gold is not taxed like stocks and bonds. wsj.com) Retirement When to collect Social Security is a complex decision, that you can't take back.
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Personal finance links: an essential skill
Abnormal Returns
SEPTEMBER 4, 2024
(ritholtz.com) Rick Ferri talks with Christine Benz about her new book "How to Retire, 20 Lessons for a Happy, Successful, and Wealthy Retirement." morningstar.com) Sam Dogen talks in ins and outs of early retirement with Khe Hy. sites.libsyn.com) Retirement Why spending decisions in retirement are challenging.
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Save on Taxes with These 5 Year-End Financial Tips
MainStreet Financial Planning
NOVEMBER 8, 2024
As December unfolds, it’s easy to overlook year-end tax planning amid the holiday hustle. However, dedicating a few moments now can lead to significant savings come tax season. To help you retain more of your hard-earned money and reduce your tax liability, consider these five strategic moves before the year concludes.
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Tax Advice Restrictions For Financial Advisors: How To Offer Tax Planning And Remain In Compliance
Nerd's Eye View
NOVEMBER 30, 2022
Taxes are a central component of financial planning. Almost every financial planning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden.
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The HSA ‘Deathbed Drawdown’: Making Tax-Efficient Distributions Of Large Balances (When There Isn’t Much Time)
Nerd's Eye View
FEBRUARY 15, 2023
Health Savings Accounts (HSAs) feature useful tax advantages that make them a popular savings vehicle. One possible outcome of ‘superfunding’ an HSA, however, is that the account owner may not actually use up all of their HSA funds over their lifetime, which can have significant tax consequences. Read More.
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What is a Stepped Up Basis? Cost Basis of Inherited Stock and Other Assets
Darrow Wealth Management
JANUARY 16, 2025
A step-up in basis is a tax advantage for individuals who inherit stocks or other assets, like a home. Understanding step-up in basis at death If youve received an inheritance you may have questions about the tax treatment of certain assets. This increases the tax basis, which determines capital gains or losses when the asset is sold.
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Personal finance links: a boring portfolio
Abnormal Returns
NOVEMBER 27, 2024
(apolloacademy.com) How higher property taxes would help unlock the housing market. msn.com) Aging Spending more money doesn't necessarily make for a more fulfilling retirement. nextavenue.org) Lessons learned from Warren Buffett's estate planning, including 'Tell your kids you are proud of them.'
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What Is the Most Important Component of Your Estate Plan as a Christian?
Cornerstone Financial Advisory
MARCH 14, 2025
As a Christian, your estate plan should represent your dedication to financial stewardship according to Scripture. W hat important factors should Christians consider when estate planning? W hat important factors should Christians consider when estate planning?
Personal finance links: hoarding points
Abnormal Returns
MAY 8, 2024
(advisorperspectives.com) The 7 best retirement books including "More Than Enough: A Brief Guide to the Questions That Arise After Realizing You Have More Than You Need" by Mike Piper. morningstar.com) Retirement Three tips to improve your retirement including 'Pursue serendipity.' ft.com) Estate planning is all about tradeoffs.
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529-To-Roth IRA Rollovers: Taking Advantage Of The New Option To Move Education Savings To Retirement Savings
Nerd's Eye View
JUNE 26, 2024
And so the conundrum of people with "too much" savings in their 529 plan – either because they overestimated how much they needed to save, or because they chose a different path entirely that didn't involve going to college – has been how to get funds out of the plan without sacrificing a large part of their value to taxes and penalties.
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Personal finance links: optimizing wealth strategies
Abnormal Returns
OCTOBER 11, 2023
abnormalreturns.com) Retirement Elder care is challenging even under the best circumstances. morningstar.com) What men, specifically, lose in retirement. humbledollar.com) Taxes How to compare the yields on taxable and muni bonds. marketwatch.com) Some basic things not to get wrong in your tax filings.
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Personal finance links: the myths of aging
Abnormal Returns
AUGUST 23, 2023
(papers.ssrn.com) How 529 plan accounts are treated in a divorce. marketwatch.com) Estate planning Estate planning is about showing our love for our families. wealthfoundme.com) More families are at risk from estate taxes looking out into 2025 and beyond.
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Using A Testamentary Charitable Remainder Unitrust (T-CRUT) To Give Twice To Both Loved Ones And Charitable Organizations
Nerd's Eye View
JANUARY 31, 2024
In late 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, introducing several significant changes to retirement planning. This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges.
Estate Planning 101
Integrity Financial Planning
AUGUST 28, 2022
Understand the basics first, and then create an estate plan. Wills and trusts are both important estate planning tools with important differences. Many people may not know that their will does not control who inherits all of their assets, such as retirement accounts, life insurance, and annuities.
Personal finance links: agency and power
Abnormal Returns
SEPTEMBER 27, 2023
awealthofcommonsense.com) Why you should keep track of the tax basis of your house. morningstar.com) A first-hand account of the case for hiring a tax preparer. dariusforoux.com) Want to be happier in retirement? marketwatch.com) Why your estate plan should include this letter.
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Weekend Reading For Financial Planners (August 10-11)
Nerd's Eye View
AUGUST 9, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent survey indicates that clients of financial advisors are more confident than others about their financial preparedness for retirement and are more likely to have a financial plan in place that can weather the ups (..)
Personal finance links: not worrying about money
Abnormal Returns
JUNE 28, 2023
Podcasts Christine Benz and Jeff Ptak talk with Fritz Gilbert and Eric Weigel about retirement planning mistakes. financial-planning.com) Retirement How a Flexible Spending Strategy works in retirement, with some caveats. ofdollarsanddata.com) A first hand tale of un-retirement. Meir Statman.
10 High-Income Tax Planning Strategies to Complete Before 2025: A Year-end Checklist
Harness Wealth
NOVEMBER 12, 2024
As the year comes to a close, now is the time to review potential financial moves to help minimize your tax burden heading into 2025. Proactive year-end tax planning can lead to significant savings and set you up for financial success in the new year. Find your next tax advisor at Harness today. Starting at $2,500.
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Increasing Financial Planning Efficiency With A Systematized Annual Process
Nerd's Eye View
NOVEMBER 21, 2022
A common service model for many financial advisory firms is to schedule annual client meetings throughout the year where the advisor meets with each client in the month they started working with the firm, and conducts a comprehensive review of all planning topics for the client.
Weekend Reading For Financial Planners (June 22-23)
Nerd's Eye View
JUNE 21, 2024
million in assets to both retire and pass on a legacy interest (though many have yet to establish an estate plan), according to a recent survey. Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that affluent Americans believe they need an average of $5.5
Start the Year Strong: Get Your Financials in Shape for 2025
MainStreet Financial Planning
JANUARY 23, 2025
For 2024, the maximum taxable earnings subject to Social Security tax is $168,600. Review Your Estate Planning Documents Take some time to review the key documents in your estate plan, such as your will, power of attorney, and property deeds. If you notice any errors, you can easily request a correction online.
42% More Likely to Succeed? Write Down Your 10 Financial Goals for 2025!
Dear Mr. Market
DECEMBER 31, 2024
Maximize Retirement Contributions Contribute as much as possible to your 401(k), IRA, or Roth IRA. Optimize Tax Strategies Its not what you makeits what you keep. Meet with your tax advisor to discuss harvesting tax losses, Roth conversions, and charitable contributions that might save you money. A good rule of thumb?
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Updating Your Physician Estate Plan
Your Richest Life
AUGUST 11, 2023
Your estate plan is the comprehensive guide to your wealth and property when you pass away or become incapacitated physically or mentally. it’s important that you update your estate plan to reflect those changes. As a physician, there are a few other areas to pay attention to when you’re working on your estate plan.
Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)
Nerd's Eye View
OCTOBER 7, 2024
Welcome to the October 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
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Adviser links: the RMD mentality
Abnormal Returns
AUGUST 5, 2024
Podcasts Michael Kitces talks divorce planning with Michelle Klisanich who is a Wealth Advisor for Financially Wise Divorce. kitces.com) Matt Zeigler talks with Wade Pfau about managing sequence of returns risk in retirement. kitces.com) Taxes Following the RMD rules for inherited IRAs may not be optimal. forbes.com)
6 Items to Put on Your Estate Plan Checklist
Integrity Financial Planning
MAY 23, 2023
An estate plan is a legal document that outlines a person’s wishes for the distribution of their assets and property after their death. It is essential to create an estate plan to ensure that your family and loved ones are taken care of in the event of your passing. Contact us today to get started!
Life Insurance for Business and Estate Planning
Carson Wealth
SEPTEMBER 27, 2023
For individuals, a permanent life insurance plan can play a key role in estate planning by helping reduce estate taxes. 1,2 Some states have an estate tax as well, and they may have a lower threshold for when the tax applies. As of 2023, that exclusion is $12.92 million ($25.84 million ($25.84
The 5 Pillars of Retirement Planning You Should Be Aware of
WiserAdvisor
MARCH 13, 2024
Achieving financial freedom in retirement requires meticulous planning, dedicated effort, and strategic management. Without a solid plan, you risk drifting without direction. Within this framework, the concept of the five pillars of retirement planning emerges as a valuable strategy.
Do You Still Need A Financial Advisor After You Retire?
WiserAdvisor
AUGUST 31, 2023
Financial advisors play a crucial role in assisting you before your retire. They can also help you optimize your savings and investment plans, ensuring that you maximize your earning potential while minimizing risks. Here are 5 benefits of hiring a financial advisor after you retire: 1.
How Advisors Can Help (Not-So HNW) Clients Maximize Asset Protection By Assessing Strategies, Tools, And Education
Nerd's Eye View
SEPTEMBER 6, 2023
For instance, qualified plan assets (e.g., 401(k) and 403(b) plans) offer purportedly unlimited creditor protection for plan participants, meaning that if an individual were to be sued or file for Federal bankruptcy protection, balances in these accounts would not be at risk. tenancy by the entireties and community property).
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Estate Planning: 2024 Trends for Tax Professionals to Watch
Harness Wealth
JULY 29, 2024
In this guest post, Harness Tax Advisory Council member, Griffin Bridgers, J.D., covers some of the top estate planning trends that tax advisors should be tracking during the second half of 2024. However, awareness is key, both for clients and advisors. citizens and residents.
Alternative Investments Explained: What Are They, And How Are They Taxed?
Harness Wealth
FEBRUARY 4, 2025
However, unlike stocks and bonds, alternative investments, or alts as theyre commonly known, have unique tax treatments and complex reporting requirements that investors should carefully consider before investing. Well also go into some potential strategies to optimize tax efficiency. How Are Alternative Investments Taxed?
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