Have you ever wondered whether you have too much or too little in savings at the bank? Having too little cash is a risk. Not only does it cause emotional distress, but it may put us in a position to require the use of high-interest debt to cover emergencies. Having too much cash in savings has an opportunity cost…..not much interest. There may be more productive places for these excess dollars somewhere else. The question is, how much is enough to have in savings? Here's how I help clients … [Read more...]

I believe that anyone can create a secure retirement by finding the answer to 10 key questions.   Three of the questions are about your retirement income.   One of them is about protecting your retirement income.   Three questions are about your assets.   One of them is about protecting your assets.   One is about taxes. The final question is about your financial legacy. Here they are…..  How and when will you take … [Read more...]

Many grandparents want to help their grandkids with college.  But they have common dilemmas and questions... What account type is best? What if they decide not to go to college? What investments can I use? How much can I contribute? Let’s tackle the issue of using the funds for non-college expenses first. If a grandparent wants to save for grandkids with the flexibility that the funds can be used for whatever the grandchild wants (including non-tuition expenses), one … [Read more...]

½ to age 72.  How does that impact people who were already taking RMDs who were under 72 and how does this impact those who were giving qualified charitable distributions from their IRA? Those under age 72 who were already taking RMDs: Those who fit into this category should CONTINUE to take their annual RMDs as scheduled under the original law.  The exception is for the year 2020.  All RMDs are waived for regular and inherited IRA accounts due to COVID-19. Those who had … [Read more...]

I’ve written multiple times about a technique that allows your portfolio to last much longer by using a “buffer asset” during times of poor market performance. They say that a picture is worth a thousand words.  That’s why I like this recent whiteboard video that explains the concept in more detail (and more). I think they do a good job of making the concept easy to understand. If you have any questions, please feel free to contact me. … [Read more...]

You may have already retired, but I bet you or someone you know wants to know the answer to these questions… “How much is enough for retirement?” “Am I financially ready to retire?” If so, we recently completed our “Ready to Retire” scorecard.  It takes just a couple of minutes and helps you determine where you stand in regard to the 8 keys to begin ready to pull the trigger. Here is the link to get started: If you or someone you know would benefit, you can take it, or … [Read more...]

I hope that each one of you is healthy and sane during our current environment. I know that many who are still working have been significantly impacted by either reduced horse or even job loss.  Although it may not be top of mind to you, in the event of a separation from service, you do gain a unique opportunity to improve your company retirement plan investments. Company retirement plans have limited options, but rolling funds into a self-directed IRA account opens many new … [Read more...]

Every year the Social Security trustee’s issue a report of the health of the trust fund and when it is estimated to be depleted.  They recently issued their report for this year, which showed signs of improvement, with one caveat…. Article Link: https://www.marketwatch.com/story/the-new-social-security-trustee-report-may-show-signs-of-improvement-with-one-major-caveat-2020-04-22 If you have any questions, please feel free to contact me. … [Read more...]

Do you remember what happened in 2008 to Home Equity Lines of Credit for those who were needing them?  That’s right...the banks closed them.  There is a much better alternative as a backup source for liquidity and reserve in an emergency. See below for a reprinting of a recent article by Don Graves: JPMorgan Chase just announced they're no longer accepting applications for Home Equity Lines of Credit. No doubt other banks will follow suit with even greater measures! But … [Read more...]